NWL vs STZ: Correlation
How closely do Newell Brands Inc. (NWL) and Constellation Brands (STZ) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NWL and STZ?
On 3 years of weekly data the NWL/STZ correlation comes out at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 688.8 %².
Among the 15 assets we track against NWL, STZ ranks #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NWL ahead by 21.3 points (+5.6% versus -15.7%). Risk is not evenly split, since NWL carries 2.4 times the volatility of the other side.
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.
NWL vs STZ: side by side
| NWL (Newell Brands Inc.) | STZ (Constellation Brands) | |
|---|---|---|
| 1-year return | +5.6% | -15.7% |
| 5-year return | -70.7% | -31.9% |
| Volatility (ann.) | 62.8% | 26.6% |
| Beta vs S&P 500 | 1.15 | 0.41 |
| Max drawdown (3Y) | -72.3% | -51.3% |
| Market cap | $2.5B | $22.4B |
| P/E (trailing) | – | 12.8 |
| Dividend yield | 4.70% | 3.04% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | NWL | STZ |
|---|---|---|
| 2022 | -37.0% | -6.4% |
| 2023 | -30.9% | +5.8% |
| 2024 | +19.0% | -7.1% |
| 2025 | -60.5% | -36.0% |
| 2026 | +63.7% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NWL and STZ good diversifiers for each other?
Reasonably. At 0.41, NWL and STZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NWL and STZ?
As of 2026-08-27, the correlation of weekly returns between NWL and STZ is 0.41 over 3 years, 0.46 over 1 year and 0.38 over 5 years.
Is STZ a good diversifier for NWL?
Reasonably. At 0.41, NWL and STZ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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
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Related comparisons
Hubs: NWL correlations · STZ correlations
