KO vs ORCL: Correlation
Measured on weekly returns over the past three years, Coca-Cola Company (The) (KO) and Oracle Corporation (ORCL) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KO and ORCL?
Across a 3-year window, the weekly returns of KO and ORCL correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.42) than the 3-year average (-0.22). Stretching to 5 years gives -0.03, with an annualized covariance of -165.4 %².
Within KO's tracked universe of 43 assets, ORCL comes in at #34 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KO outperformed by 67.9 percentage points (+33.1% for KO against -34.8% for ORCL). The relationship is regime-dependent: the rolling one-year correlation swung between -0.55 and 0.44 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: ORCL is 3.2 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 ORCL: side by side
| KO (Coca-Cola Company (The)) | ORCL (Oracle Corporation) | |
|---|---|---|
| 1-year return | +33.1% | -34.8% |
| 5-year return | +83.8% | +81.7% |
| Volatility (ann.) | 15.4% | 49.9% |
| Beta vs S&P 500 | 0.11 | 1.71 |
| Max drawdown (3Y) | -15.5% | -64.6% |
| Market cap | $383.2B | $437.7B |
| P/E (trailing) | 27.0 | 25.5 |
| Dividend yield | 2.31% | 1.34% |
| Sector / category | Consumer Staples | Information Technology |
Year-by-year returns
| Year | KO | ORCL |
|---|---|---|
| 2022 | +10.6% | -4.6% |
| 2023 | -4.4% | +30.9% |
| 2024 | +8.9% | +60.0% |
| 2025 | +15.6% | +18.1% |
| 2026 | +29.1% | -21.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KO and ORCL good diversifiers for each other?
Yes. With a correlation of -0.22, KO and ORCL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between KO and ORCL?
As of 2026-08-27, the correlation of weekly returns between KO and ORCL is -0.22 over 3 years, -0.42 over 1 year and -0.03 over 5 years.
Is ORCL a good diversifier for KO?
Yes. With a correlation of -0.22, KO and ORCL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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-orcl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ko-vs-orcl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KO correlations · ORCL correlations
