PGR vs. PEP
PGR (The Progressive Corporation) and PEP (PepsiCo, Inc.) are both stocks. PGR operates in Insurance - Property & Casualty (Financial Services), while PEP operates in Beverages - Non-Alcoholic (Consumer Defensive). Over the past 10 years, PGR returned 23.53%/yr vs 6.52%/yr for PEP. At a 0.27 correlation, their price movements are largely independent.
Performance
PGR vs. PEP - Performance Comparison
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Returns By Period
In the year-to-date period, PGR achieves a -4.67% return, which is significantly lower than PEP's 0.82% return. Over the past 10 years, PGR has outperformed PEP with an annualized return of 23.53%, while PEP has yielded a comparatively lower 6.52% annualized return.
PGR
- 1D
- 4.42%
- 1M
- 3.67%
- YTD
- -4.67%
- 6M
- -2.60%
- 1Y
- -22.46%
- 3Y*
- 19.82%
- 5Y*
- 17.85%
- 10Y*
- 23.53%
PEP
- 1D
- 0.89%
- 1M
- -8.04%
- YTD
- 0.82%
- 6M
- -0.22%
- 1Y
- 13.76%
- 3Y*
- -4.61%
- 5Y*
- 2.38%
- 10Y*
- 6.52%
PGR vs. PEP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGR The Progressive Corporation | -4.67% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 61.59% |
PEP PepsiCo, Inc. | 0.82% | -1.85% | -7.60% | -3.29% | 6.78% | 20.56% | 11.67% | 27.38% | -4.81% | 17.82% |
Correlation
The correlation between PGR and PEP is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 1986 | 0.27 |
The correlation between PGR and PEP shifts across timeframes, from 0.14 (1 year) to 0.32 (10 years), reflecting how their relationship changes across market environments.
Fundamentals
PGR:
$19.23
PEP:
$6.37
PGR:
10.61
PEP:
22.27
PGR:
0.08
PEP:
7.70
PGR:
1.37
PEP:
2.04
PGR:
$87.65B
PEP:
$95.45B
PGR:
$23.23B
PEP:
$51.60B
PGR:
$14.81B
PEP:
$15.08B
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Return for Risk
PGR vs. PEP — Risk / Return Rank
PGR
PEP
PGR vs. PEP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Progressive Corporation (PGR) 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.
| PGR | PEP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.13 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 0.85 | -1.67 |
| Martin ratioReturn relative to average drawdown | -1.20 | 2.29 | -3.49 |
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
| PGR | PEP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 0.64 | -1.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.13 | +0.60 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 0.33 | +0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.38 | +0.20 |
Drawdowns
PGR vs. PEP - Drawdown Comparison
The maximum PGR drawdown since its inception was -71.06%, roughly equal to the maximum PEP drawdown of -73.92%. Use the drawdown chart below to compare losses from any high point for PGR and PEP.
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Drawdown Indicators
| PGR | PEP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.06% | -73.92% | +2.86% |
Max Drawdown (1Y)Largest decline over 1 year | -27.41% | -16.25% | -11.16% |
Max Drawdown (3Y)Largest decline over 3 years | -30.35% | -29.17% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -30.35% | -30.32% | -0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -30.35% | -30.32% | -0.03% |
Current DrawdownCurrent decline from peak | -25.37% | -19.09% | -6.28% |
Average DrawdownAverage peak-to-trough decline | -14.53% | -13.65% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.97% | 6.03% | +12.94% |
Volatility
PGR vs. PEP - Volatility Comparison
The Progressive Corporation (PGR) has a higher volatility of 7.32% compared to PepsiCo, Inc. (PEP) at 6.37%. This indicates that PGR'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.
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Volatility by Period
| PGR | PEP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.32% | 6.37% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 16.85% | 14.91% | +1.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.65% | 21.72% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.59% | 18.37% | +6.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.47% | 19.66% | +4.81% |
Dividends
PGR vs. PEP - Dividend Comparison
PGR's dividend yield for the trailing twelve months is around 6.81%, more than PEP's 5.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEP PepsiCo, Inc. | 5.05% | 3.92% | 3.51% | 2.91% | 2.50% | 2.45% | 2.71% | 2.77% | 3.25% | 2.64% | 2.83% | 2.76% |
PGR The Progressive Corporation | 6.81% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
Financials
PGR vs. PEP - Financials Comparison
This section allows you to compare key financial metrics between The Progressive Corporation and PepsiCo, Inc.. 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
PGR vs. PEP - Profitability Comparison
PGR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported a gross profit of 6.66B and revenue of 22.74B. Therefore, the gross margin over that period was 29.3%.
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%.
PGR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported an operating income of 3.68B and revenue of 22.74B, resulting in an operating margin of 16.2%.
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%.
PGR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Progressive Corporation reported a net income of 2.95B and revenue of 22.74B, resulting in a net margin of 13.0%.
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
PGR and PEP have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGR has higher volatility (7.32%) compared to PEP (6.37%). In terms of maximum drawdown, PGR dropped -71.06% vs PEP's -73.92%.
PEP currently has the higher Sharpe Ratio (0.64 vs -1.00), 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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