PAAS vs. PEP

Last updated Jun 4, 2026

PAAS (Pan American Silver Corp.) and PEP (PepsiCo, Inc.) are both stocks. PAAS operates in Silver (Basic Materials), while PEP operates in Beverages - Non-Alcoholic (Consumer Defensive). Over the past 10 years, PAAS returned 14.59%/yr vs 6.45%/yr for PEP. At a 0.04 correlation, their price movements are largely independent.

Performance

PAAS vs. PEP - Performance Comparison

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

Returns By Period

In the year-to-date period, PAAS achieves a 2.11% return, which is significantly higher than PEP's 0.20% return. Over the past 10 years, PAAS has outperformed PEP with an annualized return of 14.59%, while PEP has yielded a comparatively lower 6.45% annualized return.

PAAS

• 1D: -4.73%
• 1M: 3.23%
• YTD: 2.11%
• 6M: 19.04%
• 1Y: 102.99%
• 3Y*: 53.12%
• 5Y*: 12.48%
• 10Y*: 14.59%

PEP

• 1D: 0.38%
• 1M: -7.79%
• YTD: 0.20%
• 6M: -1.92%
• 1Y: 12.44%
• 3Y*: -5.24%
• 5Y*: 2.25%
• 10Y*: 6.45%

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

PAAS vs. PEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAAS Pan American Silver Corp.	2.11%	160.40%	26.61%	2.50%	-33.00%	-26.78%	46.88%	63.86%	-5.30%	3.86%
PEP PepsiCo, Inc.	0.20%	-1.85%	-7.60%	-3.29%	6.78%	20.56%	11.67%	27.38%	-4.81%	17.82%

Correlation

The correlation between PAAS and PEP is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jun 13, 1995	0.04

Fundamentals

Market Cap PAAS : $22.19B PEP : $195.42B
EPS PAAS : $3.21 PEP : $6.37
PE Ratio PAAS : 16.37 PEP : 22.37
PEG Ratio PAAS : 0.09 PEP : 7.74
PS Ratio PAAS : 5.19 PEP : 2.05
PB Ratio PAAS : 3.02 PEP : 9.14
Total Revenue (TTM) PAAS : $4.02B PEP : $95.45B
Gross Profit (TTM) PAAS : $1.76B PEP : $51.60B
EBITDA (TTM) PAAS : $2.14B PEP : $15.08B

Return for Risk

PAAS vs. PEP — Risk / Return Rank

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

PAAS

PAAS Risk / Return Rank: 83
PAAS Sharpe Ratio Rank: 86
PAAS Sortino Ratio Rank: 80
PAAS Omega Ratio Rank: 80
PAAS Calmar Ratio Rank: 83
PAAS Martin Ratio Rank: 85

PEP

PEP Risk / Return Rank: 56
PEP Sharpe Ratio Rank: 59
PEP Sortino Ratio Rank: 54
PEP Omega Ratio Rank: 51
PEP Calmar Ratio Rank: 57
PEP Martin Ratio Rank: 60

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.

PAAS vs. PEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pan American Silver Corp. (PAAS) 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.

	PAAS	PEP	Difference
Sharpe ratio: Return per unit of total volatility	1.91	0.58	+1.34
Sortino ratio: Return per unit of downside risk	2.35	1.05	+1.30
Omega ratio: Gain probability vs. loss probability	1.31	1.12	+0.20
Calmar ratio: Return relative to maximum drawdown	3.25	0.77	+2.48
Martin ratio: Return relative to average drawdown	8.94	2.12	+6.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAAS vs. PEP - Sharpe Ratio Comparison

The current PAAS Sharpe Ratio is 1.91, which is higher than the PEP Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of PAAS and PEP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PAAS	PEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	0.58	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.12	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.33	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.38	-0.21

Drawdowns

PAAS vs. PEP - Drawdown Comparison

The maximum PAAS drawdown since its inception was -85.10%, which is greater than PEP's maximum drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for PAAS and PEP.

Drawdown Indicators

	PAAS	PEP	Difference
Max Drawdown Largest peak-to-trough decline	-85.10%	-73.92%	-11.18%
Max Drawdown (1Y) Largest decline over 1 year	-31.90%	-16.25%	-15.65%
Max Drawdown (3Y) Largest decline over 3 years	-31.90%	-29.17%	-2.73%
Max Drawdown (5Y) Largest decline over 5 years	-60.02%	-30.32%	-29.70%
Max Drawdown (10Y) Largest decline over 10 years	-66.74%	-30.32%	-36.42%
Current Drawdown Current decline from peak	-23.00%	-19.58%	-3.42%
Average Drawdown Average peak-to-trough decline	-41.65%	-13.64%	-28.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.56%	5.87%	+5.69%

Volatility

PAAS vs. PEP - Volatility Comparison

Pan American Silver Corp. (PAAS) has a higher volatility of 19.51% compared to PepsiCo, Inc. (PEP) at 6.35%. This indicates that PAAS's price experiences larger fluctuations and is considered to be riskier than PEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAAS	PEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.51%	6.35%	+13.16%
Volatility (6M) Calculated over the trailing 6-month period	43.94%	14.90%	+29.04%
Volatility (1Y) Calculated over the trailing 1-year period	54.18%	21.71%	+32.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.69%	18.38%	+29.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.48%	19.66%	+29.82%

Dividends

PAAS vs. PEP - Dividend Comparison

PAAS's dividend yield for the trailing twelve months is around 1.18%, less than PEP's 3.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PAAS Pan American Silver Corp.	1.18%	0.89%	1.98%	2.45%	2.75%	1.36%	0.64%	0.59%	0.96%	0.64%	0.33%	4.23%
PEP PepsiCo, Inc.	3.99%	3.92%	3.51%	2.91%	2.50%	2.45%	2.71%	2.77%	3.25%	2.64%	2.83%	2.76%

Financials

PAAS vs. PEP - Profitability Comparison

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

PAAS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported a gross profit of 608.00M and revenue of 1.15B. Therefore, the gross margin over that period was 52.7%.

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%.

PAAS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported an operating income of 560.00M and revenue of 1.15B, resulting in an operating margin of 48.5%.

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%.

PAAS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pan American Silver Corp. reported a net income of 457.00M and revenue of 1.15B, resulting in a net margin of 39.6%.

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 PAAS and PEP in my portfolio?

PAAS and PEP have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAAS or PEP?

PAAS has higher volatility (19.51%) compared to PEP (6.35%). In terms of maximum drawdown, PAAS dropped -85.10% vs PEP's -73.92%.

Which has better risk-adjusted returns?

PAAS currently has the higher Sharpe Ratio (1.91 vs 0.58), 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.