PEP vs SJM: Correlation
Measured on weekly returns over the past three years, PepsiCo (PEP) and J.M. Smucker Company (The) (SJM) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEP and SJM?
Over the past 3 years, PEP and SJM moved with a correlation of 0.43, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.43 over 3 years. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 214.4 %².
Among the 38 assets we track against PEP, SJM ranks #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SJM ahead by 31.5 points (-1.6% versus +29.9%). The rolling one-year correlation moved between 0.28 and 0.74 over the past three years, a moderate range.
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.
PEP vs SJM: side by side
| PEP (PepsiCo) | SJM (J.M. Smucker Company (The)) | |
|---|---|---|
| 1-year return | -1.6% | +29.9% |
| 5-year return | +4.9% | +28.2% |
| Volatility (ann.) | 19.1% | 26.0% |
| Beta vs S&P 500 | 0.13 | 0.21 |
| Max drawdown (3Y) | -27.5% | -32.5% |
| Market cap | $190.9B | $14.1B |
| P/E (trailing) | 18.6 | 61.3 |
| Dividend yield | 4.04% | 3.38% |
| Sector / category | Consumer Staples | Consumer Staples |
Year-by-year returns
| Year | PEP | SJM |
|---|---|---|
| 2022 | +6.8% | +20.1% |
| 2023 | -3.3% | -17.8% |
| 2024 | -7.6% | -9.6% |
| 2025 | -1.8% | -7.6% |
| 2026 | -0.7% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEP and SJM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PEP and SJM?
As of 2026-08-27, the correlation of weekly returns between PEP and SJM is 0.43 over 3 years, 0.28 over 1 year and 0.47 over 5 years.
Is SJM a good diversifier for PEP?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pep-vs-sjm/)
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Related comparisons
Hubs: PEP correlations · SJM correlations
