KMB vs KO: Correlation
Measured on weekly returns over the past three years, Kimberly-Clark (KMB) and Coca-Cola Company (The) (KO) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KMB and KO?
Over the past 3 years, KMB and KO moved with a correlation of 0.38, which is moderate. The past 12 months show a weaker link (0.23) than the 3-year average (0.38). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 113.9 %².
By 3-year correlation, KO places #12 of the 27 assets tracked against KMB. Correlation aside, the last 12 months split them widely, with KO ahead by 44.5 points (-11.4% versus +33.1%). This link changes with the market regime, having swung between 0.21 and 0.76 on a rolling one-year basis.
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.
KMB vs KO: side by side
| KMB (Kimberly-Clark) | KO (Coca-Cola Company (The)) | |
|---|---|---|
| 1-year return | -11.4% | +33.1% |
| 5-year return | -2.6% | +83.8% |
| Volatility (ann.) | 19.3% | 15.4% |
| Beta vs S&P 500 | 0.15 | 0.11 |
| Max drawdown (3Y) | -34.1% | -15.5% |
| Market cap | $36.6B | $383.2B |
| P/E (trailing) | 21.7 | 27.0 |
| Dividend yield | 4.60% | 2.31% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | KMB | KO |
|---|---|---|
| 2022 | -1.6% | +10.6% |
| 2023 | -7.1% | -4.4% |
| 2024 | +11.8% | +8.9% |
| 2025 | -19.9% | +15.6% |
| 2026 | +11.9% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KMB and KO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KMB and KO?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.23 over the last year and 0.53 over 5 years.
Is KO a good diversifier for KMB?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/kmb-vs-ko.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/kmb-vs-ko/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KMB correlations · KO correlations
