MDLZ vs NVDA: Correlation
How closely do Mondelez International (MDLZ) and Nvidia (NVDA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDLZ and NVDA?
Across a 3-year window, the weekly returns of MDLZ and NVDA correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.23). Stretching to 5 years gives -0.03, with an annualized covariance of -208.4 %².
Among the 40 assets we track against MDLZ, NVDA ranks #35 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NVDA ahead by 21.1 points (+4.6% versus +25.7%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.42 and 0.09 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: NVDA is 2.2 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.
MDLZ vs NVDA: side by side
| MDLZ (Mondelez International) | NVDA (Nvidia) | |
|---|---|---|
| 1-year return | +4.6% | +25.7% |
| 5-year return | +14.7% | +908.3% |
| Volatility (ann.) | 20.5% | 44.5% |
| Beta vs S&P 500 | 0.03 | 2.18 |
| Max drawdown (3Y) | -29.0% | -36.9% |
| Market cap | $79.7B | $5,505.0B |
| P/E (trailing) | 22.9 | 32.2 |
| Dividend yield | 3.17% | 0.00% |
| Sector / category | Consumer Staples | Information Technology |
Year-by-year returns
| Year | MDLZ | NVDA |
|---|---|---|
| 2022 | +2.9% | -50.3% |
| 2023 | +11.2% | +239.0% |
| 2024 | -15.3% | +171.2% |
| 2025 | -7.0% | +38.9% |
| 2026 | +18.0% | +22.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDLZ and NVDA good diversifiers for each other?
Yes. With a correlation of -0.23, MDLZ and NVDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MDLZ and NVDA?
As of 2026-08-27, the correlation of weekly returns between MDLZ and NVDA is -0.23 over 3 years, -0.46 over 1 year and -0.03 over 5 years.
Is NVDA a good diversifier for MDLZ?
Yes. With a correlation of -0.23, MDLZ and NVDA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/mdlz-vs-nvda.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdlz-vs-nvda/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDLZ correlations · NVDA correlations
