KO vs SJM: Correlation
Coca-Cola Company (The) (KO) and J.M. Smucker Company (The) (SJM) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KO and SJM?
Across a 3-year window, the weekly returns of KO and SJM correlate at 0.43, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.43 over 3. Stretching to 5 years gives 0.46, with an annualized covariance of 171.9 %².
Within KO's tracked universe of 43 assets, SJM comes in at #19 by 3-year correlation. Neither side won the trailing year by much: +33.1% against +29.9%. Across three years, the rolling one-year figure varied moderately, from 0.27 to 0.58. Note the risk asymmetry: SJM runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 SJM: side by side
| KO (Coca-Cola Company (The)) | SJM (J.M. Smucker Company (The)) | |
|---|---|---|
| 1-year return | +33.1% | +29.9% |
| 5-year return | +83.8% | +28.2% |
| Volatility (ann.) | 15.4% | 26.0% |
| Beta vs S&P 500 | 0.11 | 0.21 |
| Max drawdown (3Y) | -15.5% | -32.5% |
| Market cap | $383.2B | $14.1B |
| P/E (trailing) | 27.0 | 61.3 |
| Dividend yield | 2.31% | 3.38% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | KO | SJM |
|---|---|---|
| 2022 | +10.6% | +20.1% |
| 2023 | -4.4% | -17.8% |
| 2024 | +8.9% | -9.6% |
| 2025 | +15.6% | -7.6% |
| 2026 | +29.1% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KO and SJM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between KO and SJM?
As of 2026-08-27, the correlation of weekly returns between KO and SJM is 0.43 over 3 years, 0.41 over 1 year and 0.46 over 5 years.
Is SJM a good diversifier for KO?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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-sjm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ko-vs-sjm/)
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Related comparisons
Hubs: KO correlations · SJM correlations
