KO vs MDLZ: Correlation
Coca-Cola Company (The) (KO) and Mondelez International (MDLZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KO and MDLZ?
On 3 years of weekly data the KO/MDLZ correlation comes out at 0.51, moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.51). The 5-year figure is 0.61, and annualized covariance runs at 160.2 %².
By 3-year correlation, MDLZ places #6 of the 43 assets tracked against KO. The last year tells two different stories: KO led by 28.5 percentage points, +33.1% for KO against +4.6% for MDLZ. The rolling one-year correlation moved between 0.26 and 0.73 over the past three years, a moderate range.
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.
KO vs MDLZ: side by side
| KO (Coca-Cola Company (The)) | MDLZ (Mondelez International) | |
|---|---|---|
| 1-year return | +33.1% | +4.6% |
| 5-year return | +83.8% | +14.7% |
| Volatility (ann.) | 15.4% | 20.5% |
| Beta vs S&P 500 | 0.11 | 0.03 |
| Max drawdown (3Y) | -15.5% | -29.0% |
| Market cap | $383.2B | $79.7B |
| P/E (trailing) | 27.0 | 22.9 |
| Dividend yield | 2.31% | 3.17% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | KO | MDLZ |
|---|---|---|
| 2022 | +10.6% | +2.9% |
| 2023 | -4.4% | +11.2% |
| 2024 | +8.9% | -15.3% |
| 2025 | +15.6% | -7.0% |
| 2026 | +29.1% | +18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KO and MDLZ good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KO and MDLZ?
The KO/MDLZ correlation stands at 0.51 on a 3-year window (1 year: 0.40, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is MDLZ a good diversifier for KO?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ko-vs-mdlz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ko-vs-mdlz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KO correlations · MDLZ correlations
