MDLZ vs SO: Correlation
How closely do Mondelez International (MDLZ) and Southern Company (SO) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDLZ and SO?
Across a 3-year window, the weekly returns of MDLZ and SO correlate at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 145.5 %².
By 3-year correlation, SO places #15 of the 40 assets tracked against MDLZ. The trailing year gives MDLZ the advantage: +4.6% versus -1.4%, a 6.0-point spread. On a rolling one-year basis the correlation drifted between 0.34 and 0.67, a moderate band.
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 SO: side by side
| MDLZ (Mondelez International) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +4.6% | -1.4% |
| 5-year return | +14.7% | +62.6% |
| Volatility (ann.) | 20.5% | 16.5% |
| Beta vs S&P 500 | 0.03 | -0.02 |
| Max drawdown (3Y) | -29.0% | -15.0% |
| Market cap | $79.7B | $102.4B |
| P/E (trailing) | 22.9 | 21.7 |
| Dividend yield | 3.17% | 3.32% |
| Sector / category | Consumer Staples | Utilities |
Year-by-year returns
| Year | MDLZ | SO |
|---|---|---|
| 2022 | +2.9% | +8.2% |
| 2023 | +11.2% | +2.2% |
| 2024 | -15.3% | +21.7% |
| 2025 | -7.0% | +9.5% |
| 2026 | +18.0% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDLZ and SO good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MDLZ and SO?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.33 over the last year and 0.45 over 5 years.
Is SO a good diversifier for MDLZ?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MDLZ correlations · SO correlations
