MDLZ vs TR: Correlation
How closely do Mondelez International (MDLZ) and Tootsie Roll Industries, Inc. (TR) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDLZ and TR?
On 3 years of weekly data the MDLZ/TR correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.39 over 3. The 5-year figure is 0.37, and annualized covariance runs at 202.5 %².
By 3-year correlation, TR places #19 of the 40 assets tracked against MDLZ. Twelve-month performance is nearly a tie, at +4.6% for MDLZ and +4.1% for TR.
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 TR: side by side
| MDLZ (Mondelez International) | TR (Tootsie Roll Industries, Inc.) | |
|---|---|---|
| 1-year return | +4.6% | +4.1% |
| 5-year return | +14.7% | +57.7% |
| Volatility (ann.) | 20.5% | 25.1% |
| Beta vs S&P 500 | 0.03 | 0.05 |
| Max drawdown (3Y) | -29.0% | -20.0% |
| Market cap | $79.7B | $3.1B |
| P/E (trailing) | 22.9 | 32.2 |
| Dividend yield | 3.17% | 0.84% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | MDLZ | TR |
|---|---|---|
| 2022 | +2.9% | +22.3% |
| 2023 | +11.2% | -18.8% |
| 2024 | -15.3% | +1.4% |
| 2025 | -7.0% | +17.9% |
| 2026 | +18.0% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDLZ and TR good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MDLZ and TR?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.47 over the last year and 0.37 over 5 years.
Is TR a good diversifier for MDLZ?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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-tr.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: MDLZ correlations · TR correlations
