PEP vs. KO
PEP (PepsiCo, Inc.) and KO (The Coca-Cola Company) are both stocks. Both operate in the Beverages - Non-Alcoholic industry within the Consumer Defensive sector. Over the past 10 years, PEP returned 5.99%/yr vs 10.80%/yr for KO. Their 0.51 correlation means they have sometimes moved together and sometimes differently.
Performance
PEP vs. KO - Performance Comparison
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Returns By Period
In the year-to-date period, PEP achieves a 1.94% return, which is significantly lower than KO's 29.13% return. Over the past 10 years, PEP has underperformed KO with an annualized return of 5.99%, while KO has yielded a comparatively higher 10.80% annualized return.
PEP
- 1D
- 0.45%
- 1M
- 3.48%
- 6M
- -1.48%
- YTD
- 1.94%
- 1Y
- 3.68%
- 3Y*
- -5.75%
- 5Y*
- 1.38%
- 10Y*
- 5.99%
- ALL TIME*
- 9.67%
KO
- 1D
- 0.92%
- 1M
- 7.78%
- 6M
- 23.56%
- YTD
- 29.13%
- 1Y
- 32.03%
- 3Y*
- 15.91%
- 5Y*
- 12.61%
- 10Y*
- 10.80%
- ALL TIME*
- 12.30%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.62B | $1.48B | $1.44B | |
| $1.12B | $1.30B | $1.23B |
PEP vs. KO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEP PepsiCo, Inc. | 1.94% | -1.85% | -7.60% | -3.29% | 6.78% | 20.56% | 11.67% | 27.38% | -4.81% | 17.82% |
KO The Coca-Cola Company | 29.13% | 15.60% | 8.88% | -4.43% | 10.61% | 11.37% | 2.47% | 20.60% | 6.77% | 14.38% |
Correlation
The correlation between PEP and KO is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 13, 1978 | 0.51 |
The correlation between PEP and KO shifts across timeframes, from 0.51 (all time) to 0.70 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
PEP:
$196.02B
KO:
$383.26B
PEP:
$7.65
KO:
$3.32
PEP:
18.76
KO:
26.84
PEP:
6.49
KO:
3.24
PEP:
2.03
KO:
7.67
PEP:
8.89
KO:
10.63
PEP:
$96.90B
KO:
$50.13B
PEP:
$52.29B
KO:
$31.02B
PEP:
$18.40B
KO:
$19.57B
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Return for Risk
PEP vs. KO — Risk / Return Rank
PEP
KO
PEP vs. KO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PepsiCo, Inc. (PEP) 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.
| PEP | KO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.31 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 4.09 | -3.90 |
| Martin ratioReturn relative to average drawdown | 0.43 | 8.92 | -8.49 |
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Drawdowns
PEP vs. KO - Drawdown Comparison
The maximum PEP drawdown since its inception was -73.92%, which is greater than KO's maximum drawdown of -68.23%. Use the drawdown chart below to compare losses from any high point for PEP and KO.
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Drawdown Indicators
| PEP | KO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.92% | -68.23% | -5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -19.30% | -7.87% | -11.43% |
Max Drawdown (3Y)Largest decline over 3 years | -27.94% | -15.50% | -12.44% |
Max Drawdown (5Y)Largest decline over 5 years | -30.32% | -17.27% | -13.05% |
Max Drawdown (10Y)Largest decline over 10 years | -30.32% | -36.99% | +6.67% |
Current DrawdownCurrent decline from peak | -18.19% | 0.00% | -18.19% |
Average DrawdownAverage peak-to-trough decline | -13.66% | -16.06% | +2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.56% | 3.60% | +4.96% |
Volatility
PEP vs. KO - Volatility Comparison
PepsiCo, Inc. (PEP) and The Coca-Cola Company (KO) have volatilities of 8.80% and 9.16%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEP | KO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.80% | 9.16% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 16.69% | 15.02% | +1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.56% | 18.72% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.82% | 16.64% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.86% | 18.42% | +1.44% |
Dividends
PEP vs. KO - Dividend Comparison
PEP's dividend yield for the trailing twelve months is around 4.01%, more than KO's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KO The Coca-Cola Company | 2.33% | 2.92% | 3.12% | 3.12% | 2.77% | 2.84% | 2.99% | 2.89% | 3.29% | 3.23% | 3.38% | 3.07% |
PEP PepsiCo, Inc. | 4.01% | 3.92% | 3.51% | 2.91% | 2.50% | 2.45% | 2.71% | 2.77% | 3.25% | 2.64% | 2.83% | 2.76% |
Financials
PEP vs. KO - Financials Comparison
This section allows you to compare key financial metrics between PepsiCo, Inc. 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
PEP vs. KO - Profitability Comparison
PEP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, PepsiCo, Inc. reported a gross profit of 13.11B and revenue of 24.18B. Therefore, the gross margin over that period was 54.2%.
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 8.42B and revenue of 13.38B. Therefore, the gross margin over that period was 62.9%.
PEP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, PepsiCo, Inc. reported an operating income of 4.02B and revenue of 24.18B, resulting in an operating margin of 16.6%.
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 4.67B and revenue of 13.38B, resulting in an operating margin of 34.9%.
PEP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, PepsiCo, Inc. reported a net income of 3.00B and revenue of 24.18B, resulting in a net margin of 12.4%.
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 4.43B and revenue of 13.38B, resulting in a net margin of 33.1%.
Frequently Asked Questions
PEP and KO have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KO has higher volatility (9.16%) compared to PEP (8.80%). In terms of maximum drawdown, PEP dropped -73.92% vs KO's -68.23%.
KO currently has the higher Sharpe Ratio (1.73 vs 0.17), 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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