K vs. PEP

Last updated Jun 13, 2026

K (Kellogg Company) and PEP (PepsiCo, Inc.) are both stocks. Both are in the Consumer Defensive sector — K in Packaged Foods, PEP in Beverages - Non-Alcoholic. At a 0.39 correlation, their price movements are largely independent.

Performance

K vs. PEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kellogg Company (K) and PepsiCo, Inc. (PEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

K

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEP

• 1D: 0.38%
• 1M: -2.23%
• YTD: 2.49%
• 6M: -2.36%
• 1Y: 14.62%
• 3Y*: -4.09%
• 5Y*: 2.73%
• 10Y*: 6.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

K vs. PEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
K Kellogg Company	0.00%	5.99%	49.75%	-7.44%	14.35%	7.44%	-6.78%	26.08%	-13.32%	-4.93%
PEP PepsiCo, Inc.	2.49%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	-4.81%	17.82%

Correlation

The correlation between K and PEP is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Dec 17, 1984	0.39

The correlation between K and PEP shifts across timeframes, from 0.35 (1 year) to 0.48 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap K : $29.20B PEP : $197.79B
EPS K : $3.65 PEP : $6.37
PE Ratio K : 22.87 PEP : 22.64
PEG Ratio K : 3.84 PEP : 7.83
PS Ratio K : 2.30 PEP : 2.07
PB Ratio K : 6.95 PEP : 9.25
Total Revenue (TTM) K : $12.67B PEP : $95.45B
Gross Profit (TTM) K : $4.41B PEP : $51.60B
EBITDA (TTM) K : $2.25B PEP : $15.08B

Return for Risk

K vs. PEP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

K

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PEP

PEP Risk / Return Rank: 60
PEP Sharpe Ratio Rank: 64
PEP Sortino Ratio Rank: 59
PEP Omega Ratio Rank: 55
PEP Calmar Ratio Rank: 60
PEP Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

K vs. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kellogg Company (K) and PepsiCo, Inc. (PEP). 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.

	K	PEP	Difference
Sharpe ratio: Return per unit of total volatility	—	0.62	—
Sortino ratio: Return per unit of downside risk	—	1.11	—
Omega ratio: Gain probability vs. loss probability	—	1.12	—
Calmar ratio: Return relative to maximum drawdown	—	0.83	—
Martin ratio: Return relative to average drawdown	—	2.11	—

Drawdowns

Drawdown Indicators

	K	PEP	Difference
Max Drawdown Largest peak-to-trough decline	—	-73.92%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-16.25%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.32%	—
Current Drawdown Current decline from peak	—	-17.75%	—
Average Drawdown Average peak-to-trough decline	—	-13.65%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	6.37%	—

Volatility

Volatility by Period

	K	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.62%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	21.71%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.39%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	19.67%	—

Dividends

K vs. PEP - Dividend Comparison

K has not paid dividends to shareholders, while PEP's dividend yield for the trailing twelve months is around 3.98%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
K Kellogg Company	1.39%	2.76%	2.79%	10.56%	3.28%	3.59%	3.66%	3.27%	3.86%	3.12%	2.77%	2.74%
PEP PepsiCo, Inc.	3.98%	3.92%	3.51%	2.91%	2.50%	2.45%	2.71%	2.77%	3.25%	2.64%	2.83%	2.76%

Financials

K vs. PEP - Profitability Comparison

The chart below illustrates the profitability comparison between Kellogg Company and PepsiCo, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

K - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Kellogg Company reported a gross profit of 1.08B and revenue of 3.26B. Therefore, the gross margin over that period was 33.3%.

PEP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, PepsiCo, Inc. reported a gross profit of 10.73B and revenue of 19.44B. Therefore, the gross margin over that period was 55.2%.

K - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Kellogg Company reported an operating income of 452.00M and revenue of 3.26B, resulting in an operating margin of 13.9%.

PEP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, PepsiCo, Inc. reported an operating income of 3.21B and revenue of 19.44B, resulting in an operating margin of 16.5%.

K - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Kellogg Company reported a net income of 309.00M and revenue of 3.26B, resulting in a net margin of 9.5%.

PEP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, PepsiCo, Inc. reported a net income of 2.34B and revenue of 19.44B, resulting in a net margin of 12.0%.

Frequently Asked Questions

Can I hold both K and PEP in my portfolio?

K and PEP have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.