KDP vs SJM: Correlation
How closely do Keurig Dr Pepper (KDP) and J.M. Smucker Company (The) (SJM) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KDP and SJM?
On 3 years of weekly data the KDP/SJM correlation comes out at 0.36, moderate. Recent behaviour matches the longer record: 0.32 over 1 year against 0.36 over 3. The 5-year figure is 0.39, and annualized covariance runs at 221.1 %².
By 3-year correlation, SJM places #13 of the 30 assets tracked against KDP. Correlation aside, the last 12 months split them widely, with SJM ahead by 19.0 points (+10.9% versus +29.9%). On a rolling one-year basis the correlation drifted between 0.23 and 0.55, a moderate band.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
KDP vs SJM: side by side
| KDP (Keurig Dr Pepper) | SJM (J.M. Smucker Company (The)) | |
|---|---|---|
| 1-year return | +10.9% | +29.9% |
| 5-year return | +3.1% | +28.2% |
| Volatility (ann.) | 23.6% | 26.0% |
| Beta vs S&P 500 | 0.14 | 0.21 |
| Max drawdown (3Y) | -31.0% | -32.5% |
| Market cap | $43.4B | $14.1B |
| P/E (trailing) | 32.5 | 61.3 |
| Dividend yield | 2.86% | 3.38% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | KDP | SJM |
|---|---|---|
| 2022 | -1.2% | +20.1% |
| 2023 | -4.2% | -17.8% |
| 2024 | -1.1% | -9.6% |
| 2025 | -10.1% | -7.6% |
| 2026 | +16.6% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KDP and SJM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KDP and SJM?
The KDP/SJM correlation stands at 0.36 on a 3-year window (1 year: 0.32, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is SJM a good diversifier for KDP?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: KDP correlations · SJM correlations
