MDLZ vs SANG: Correlation
Measured on weekly returns over the past three years, Mondelez International (MDLZ) and Sangoma Technologies Corporation (SANG) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDLZ and SANG?
Across a 3-year window, the weekly returns of MDLZ and SANG correlate at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives 0.04, with an annualized covariance of -174.9 %².
By 3-year correlation, SANG places #30 of the 40 assets tracked against MDLZ. Correlation aside, the last 12 months split them widely, with MDLZ ahead by 40.5 points (+4.6% versus -35.9%). One caveat on sizing: SANG is 2.1 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 SANG: side by side
| MDLZ (Mondelez International) | SANG (Sangoma Technologies Corporation) | |
|---|---|---|
| 1-year return | +4.6% | -35.9% |
| 5-year return | +14.7% | -78.8% |
| Volatility (ann.) | 20.5% | 42.3% |
| Beta vs S&P 500 | 0.03 | 0.77 |
| Max drawdown (3Y) | -29.0% | -55.6% |
| Market cap | $79.7B | $0.1B |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 3.17% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | MDLZ | SANG |
|---|---|---|
| 2022 | +2.9% | -71.2% |
| 2023 | +11.2% | -34.0% |
| 2024 | -15.3% | +123.1% |
| 2025 | -7.0% | -29.0% |
| 2026 | +18.0% | -25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDLZ and SANG good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MDLZ and SANG?
The MDLZ/SANG correlation stands at -0.20 on a 3-year window (1 year: -0.21, 5 years: 0.04), computed from weekly returns as of 2026-08-27.
Is SANG a good diversifier for MDLZ?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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.
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Related comparisons
Hubs: MDLZ correlations · SANG correlations
