KO vs NOMD: Correlation
Measured on weekly returns over the past three years, Coca-Cola Company (The) (KO) and Nomad Foods Limited (NOMD) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KO and NOMD?
On 3 years of weekly data the KO/NOMD correlation comes out at 0.43, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.43 over 3. The 5-year figure is 0.43, and annualized covariance runs at 182.0 %².
Among the 43 assets we track against KO, NOMD ranks #16 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KO outperformed by 51.3 percentage points (+33.1% for KO against -18.2% for NOMD). One caveat on sizing: NOMD is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NOMD: side by side
| KO (Coca-Cola Company (The)) | NOMD (Nomad Foods Limited) | |
|---|---|---|
| 1-year return | +33.1% | -18.2% |
| 5-year return | +83.8% | -48.6% |
| Volatility (ann.) | 15.4% | 27.7% |
| Beta vs S&P 500 | 0.11 | 0.16 |
| Max drawdown (3Y) | -15.5% | -52.8% |
| Market cap | $383.2B | – |
| P/E (trailing) | 27.0 | 12.0 |
| Dividend yield | 2.31% | 4.83% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | KO | NOMD |
|---|---|---|
| 2022 | +10.6% | -32.1% |
| 2023 | -4.4% | -1.7% |
| 2024 | +8.9% | +2.4% |
| 2025 | +15.6% | -22.1% |
| 2026 | +29.1% | +0.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KO and NOMD good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between KO and NOMD?
As of 2026-08-27, the correlation of weekly returns between KO and NOMD is 0.43 over 3 years, 0.40 over 1 year and 0.43 over 5 years.
Is NOMD a good diversifier for KO?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/ko-vs-nomd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ko-vs-nomd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: KO correlations · NOMD correlations
