KO vs. DBA
KO (The Coca-Cola Company) is a stock, while DBA (Invesco DB Agriculture Fund) is Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index TR. Over the past 10 years, KO returned 8.99%/yr vs 3.00%/yr for DBA. At a 0.11 correlation, their price movements are largely independent.
Performance
KO vs. DBA - Performance Comparison
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Returns By Period
In the year-to-date period, KO achieves a 14.56% return, which is significantly higher than DBA's 3.17% return. Over the past 10 years, KO has outperformed DBA with an annualized return of 8.99%, while DBA has yielded a comparatively lower 3.00% annualized return.
KO
- 1D
- 0.08%
- 1M
- 1.43%
- YTD
- 14.56%
- 6M
- 14.00%
- 1Y
- 14.71%
- 3Y*
- 12.88%
- 5Y*
- 10.72%
- 10Y*
- 8.99%
DBA
- 1D
- -0.27%
- 1M
- -5.86%
- YTD
- 3.17%
- 6M
- 3.33%
- 1Y
- -0.73%
- 3Y*
- 11.90%
- 5Y*
- 9.41%
- 10Y*
- 3.00%
KO vs. DBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KO The Coca-Cola Company | 14.56% | 15.60% | 8.88% | -4.43% | 10.61% | 11.37% | 2.47% | 20.60% | 6.77% | 14.38% |
DBA Invesco DB Agriculture Fund | 3.17% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
Correlation
The correlation between KO and DBA is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.11 |
The correlation between KO and DBA shifts across timeframes, from -0.12 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KO vs. DBA — Risk / Return Rank
KO
DBA
KO vs. DBA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Coca-Cola Company (KO) and Invesco DB Agriculture Fund (DBA). 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.
| KO | DBA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.00 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | -0.09 | +1.96 |
| Martin ratioReturn relative to average drawdown | 3.66 | -0.18 | +3.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KO | DBA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | -0.07 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.67 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.23 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.07 | +0.46 |
Drawdowns
KO vs. DBA - Drawdown Comparison
The maximum KO drawdown since its inception was -68.23%, roughly equal to the maximum DBA drawdown of -67.97%. Use the drawdown chart below to compare losses from any high point for KO and DBA.
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Drawdown Indicators
| KO | DBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.23% | -67.97% | -0.26% |
Max Drawdown (1Y)Largest decline over 1 year | -7.89% | -8.35% | +0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -16.26% | -12.36% | -3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -17.27% | -15.94% | -1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -36.99% | -40.72% | +3.73% |
Current DrawdownCurrent decline from peak | -2.91% | -27.37% | +24.46% |
Average DrawdownAverage peak-to-trough decline | -16.09% | -41.10% | +25.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.03% | 4.16% | -0.13% |
Volatility
KO vs. DBA - Volatility Comparison
The Coca-Cola Company (KO) has a higher volatility of 5.81% compared to Invesco DB Agriculture Fund (DBA) at 4.09%. This indicates that KO's price experiences larger fluctuations and is considered to be riskier than DBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KO | DBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 4.09% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 12.37% | 6.58% | +5.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.37% | 10.73% | +5.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.10% | 14.09% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.21% | 13.07% | +5.14% |
Dividends
KO vs. DBA - Dividend Comparison
KO's dividend yield for the trailing twelve months is around 2.59%, less than DBA's 3.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.47% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% | 0.00% | 0.00% | 0.00% |
KO The Coca-Cola Company | 2.59% | 2.92% | 3.12% | 3.12% | 2.77% | 2.84% | 2.99% | 2.89% | 3.29% | 3.23% | 3.38% | 3.07% |
Frequently Asked Questions
KO and DBA have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KO has higher volatility (5.81%) compared to DBA (4.09%). In terms of maximum drawdown, KO dropped -68.23% vs DBA's -67.97%.
KO currently has the higher Sharpe Ratio (0.90 vs -0.07), 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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