HSY vs. KO
HSY (The Hershey Company) and KO (The Coca-Cola Company) are both stocks. Both are in the Consumer Defensive sector — HSY in Confectioners, KO in Beverages - Non-Alcoholic. Over the past 10 years, HSY returned 7.03%/yr vs 9.35%/yr for KO. At a 0.42 correlation, their price movements are largely independent.
Performance
HSY vs. KO - Performance Comparison
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Returns By Period
In the year-to-date period, HSY achieves a -4.90% return, which is significantly lower than KO's 18.82% return. Over the past 10 years, HSY has underperformed KO with an annualized return of 7.03%, while KO has yielded a comparatively higher 9.35% annualized return.
HSY
- 1D
- -0.62%
- 1M
- -1.16%
- 6M
- -12.97%
- YTD
- -4.90%
- 1Y
- -0.57%
- 3Y*
- -8.96%
- 5Y*
- 1.76%
- 10Y*
- 7.03%
- ALL TIME*
- 11.99%
KO
- 1D
- -0.18%
- 1M
- 3.25%
- 6M
- 15.77%
- YTD
- 18.82%
- 1Y
- 20.30%
- 3Y*
- 12.77%
- 5Y*
- 10.97%
- 10Y*
- 9.35%
- ALL TIME*
- 12.16%
HSY vs. KO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSY The Hershey Company | -4.90% | 10.98% | -6.51% | -17.88% | 21.86% | 29.58% | 5.90% | 40.20% | -2.92% | 12.33% |
KO The Coca-Cola Company | 18.82% | 15.60% | 8.88% | -4.43% | 10.61% | 11.37% | 2.47% | 20.60% | 6.77% | 14.38% |
Correlation
The correlation between HSY and KO is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 1985 | 0.42 |
The correlation between HSY and KO has been stable across timeframes, ranging from 0.42 to 0.51 - a consistent structural relationship.
Fundamentals
HSY:
$34.61B
KO:
$352.67B
HSY:
$5.37
KO:
$3.18
HSY:
31.76
KO:
25.81
HSY:
2.90
KO:
7.17
HSY:
7.36
KO:
10.51
HSY:
$11.99B
KO:
$49.28B
HSY:
$4.17B
KO:
$30.43B
HSY:
$2.04B
KO:
$18.35B
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Return for Risk
HSY vs. KO — Risk / Return Rank
HSY
KO
HSY vs. KO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Hershey Company (HSY) and The Coca-Cola Company (KO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HSY | KO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.21 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 2.59 | -2.61 |
| Martin ratioReturn relative to average drawdown | -0.05 | 5.67 | -5.72 |
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Drawdowns
HSY vs. KO - Drawdown Comparison
The maximum HSY drawdown since its inception was -49.15%, smaller than the maximum KO drawdown of -68.23%. Use the drawdown chart below to compare losses from any high point for HSY and KO.
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Drawdown Indicators
| HSY | KO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.15% | -68.23% | +19.08% |
Max Drawdown (1Y)Largest decline over 1 year | -27.38% | -7.87% | -19.51% |
Max Drawdown (3Y)Largest decline over 3 years | -38.89% | -16.26% | -22.63% |
Max Drawdown (5Y)Largest decline over 5 years | -45.25% | -17.27% | -27.98% |
Max Drawdown (10Y)Largest decline over 10 years | -45.25% | -36.99% | -8.26% |
Current DrawdownCurrent decline from peak | -32.39% | -3.47% | -28.92% |
Average DrawdownAverage peak-to-trough decline | -13.14% | -16.06% | +2.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.67% | 3.60% | +9.07% |
Volatility
HSY vs. KO - Volatility Comparison
The Hershey Company (HSY) has a higher volatility of 9.83% compared to The Coca-Cola Company (KO) at 7.79%. This indicates that HSY's price experiences larger fluctuations and is considered to be riskier than KO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSY | KO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.83% | 7.79% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 21.48% | 14.19% | +7.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.49% | 17.94% | +9.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.18% | 16.45% | +6.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.04% | 18.37% | +4.67% |
Dividends
HSY vs. KO - Dividend Comparison
HSY's dividend yield for the trailing twelve months is around 3.31%, more than KO's 2.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSY The Hershey Company | 3.31% | 3.01% | 3.24% | 2.39% | 1.67% | 1.76% | 2.07% | 2.03% | 2.57% | 2.24% | 2.32% | 2.50% |
KO The Coca-Cola Company | 2.54% | 2.92% | 3.12% | 3.12% | 2.77% | 2.84% | 2.99% | 2.89% | 3.29% | 3.23% | 3.38% | 3.07% |
Financials
HSY vs. KO - Financials Comparison
This section allows you to compare key financial metrics between The Hershey Company and The Coca-Cola Company. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
HSY vs. KO - Profitability Comparison
HSY - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, The Hershey Company reported a gross profit of 1.22B and revenue of 3.10B. Therefore, the gross margin over that period was 39.4%.
KO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported a gross profit of 7.85B and revenue of 12.47B. Therefore, the gross margin over that period was 63.0%.
HSY - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, The Hershey Company reported an operating income of 640.69M and revenue of 3.10B, resulting in an operating margin of 20.6%.
KO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported an operating income of 4.36B and revenue of 12.47B, resulting in an operating margin of 35.0%.
HSY - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, The Hershey Company reported a net income of 435.11M and revenue of 3.10B, resulting in a net margin of 14.0%.
KO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, The Coca-Cola Company reported a net income of 3.92B and revenue of 12.47B, resulting in a net margin of 31.5%.
Frequently Asked Questions
HSY and KO have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSY has higher volatility (9.83%) compared to KO (7.79%). In terms of maximum drawdown, HSY dropped -49.15% vs KO's -68.23%.
KO currently has the higher Sharpe Ratio (1.14 vs -0.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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