KHC vs MDLZ: Correlation
How closely do Kraft Heinz (KHC) and Mondelez International (MDLZ) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KHC and MDLZ?
On 3 years of weekly data the KHC/MDLZ correlation comes out at 0.58, moderate. The link has loosened recently: the 1-year correlation (0.46) runs below the 3-year figure (0.58). The 5-year figure is 0.57, and annualized covariance runs at 257.5 %².
Among the 36 assets we track against KHC, MDLZ ranks #4 by 3-year correlation. On 12-month performance MDLZ holds a 8.5-point edge, -3.9% against +4.6%. On a rolling one-year basis the correlation drifted between 0.37 and 0.77, 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.
KHC vs MDLZ: side by side
| KHC (Kraft Heinz) | MDLZ (Mondelez International) | |
|---|---|---|
| 1-year return | -3.9% | +4.6% |
| 5-year return | -10.9% | +14.7% |
| Volatility (ann.) | 21.7% | 20.5% |
| Beta vs S&P 500 | 0.12 | 0.03 |
| Max drawdown (3Y) | -38.7% | -29.0% |
| Market cap | $29.8B | $79.7B |
| P/E (trailing) | – | 22.9 |
| Dividend yield | 6.45% | 3.17% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | KHC | MDLZ |
|---|---|---|
| 2022 | +18.2% | +2.9% |
| 2023 | -5.0% | +11.2% |
| 2024 | -13.0% | -15.3% |
| 2025 | -16.3% | -7.0% |
| 2026 | +7.3% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KHC and MDLZ good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KHC and MDLZ?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.46 over the last year and 0.57 over 5 years.
Is MDLZ a good diversifier for KHC?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: KHC correlations · MDLZ correlations
