MDLZ vs SJM: Correlation
Measured on weekly returns over the past three years, Mondelez International (MDLZ) and J.M. Smucker Company (The) (SJM) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDLZ and SJM?
On 3 years of weekly data the MDLZ/SJM correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.25 versus 0.40 over 3 years. The 5-year figure is 0.46, and annualized covariance runs at 213.8 %².
By 3-year correlation, SJM places #18 of the 40 assets tracked against MDLZ. Their recent paths diverged sharply: over the last 12 months SJM outperformed by 25.3 percentage points (+4.6% for MDLZ against +29.9% for SJM). Across three years, the rolling one-year figure varied moderately, from 0.19 to 0.69.
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 SJM: side by side
| MDLZ (Mondelez International) | SJM (J.M. Smucker Company (The)) | |
|---|---|---|
| 1-year return | +4.6% | +29.9% |
| 5-year return | +14.7% | +28.2% |
| Volatility (ann.) | 20.5% | 26.0% |
| Beta vs S&P 500 | 0.03 | 0.21 |
| Max drawdown (3Y) | -29.0% | -32.5% |
| Market cap | $79.7B | $14.1B |
| P/E (trailing) | 22.9 | 61.3 |
| Dividend yield | 3.17% | 3.38% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | MDLZ | SJM |
|---|---|---|
| 2022 | +2.9% | +20.1% |
| 2023 | +11.2% | -17.8% |
| 2024 | -15.3% | -9.6% |
| 2025 | -7.0% | -7.6% |
| 2026 | +18.0% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDLZ and SJM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDLZ and SJM?
As of 2026-08-27, the correlation of weekly returns between MDLZ and SJM is 0.40 over 3 years, 0.25 over 1 year and 0.46 over 5 years.
Is SJM a good diversifier for MDLZ?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: MDLZ correlations · SJM correlations
