CorrlensCorrlens
Correlate

Correlation Analysis

Apple Inc. vs PepsiCo, Inc.

AAPL vs PEP

-0.341

Light inverse

When one moves up, the other tends to move down.

AAPL logo

Apple Inc.

AAPL

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple's iPhone makes up a majority of the firm sales, and Apple's other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple's sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.

Market cap 3.8T

PEP logo

PepsiCo, Inc.

PEP

PepsiCo is a global leader in snacks and beverages, owning well-known household brands including Pepsi, Mountain Dew, Gatorade, Lay's, Cheetos, and Doritos, among others. The company dominates the global savory snacks market and also ranks as the second-largest beverage provider in the world (behind Coca-Cola) with diversified exposure to carbonated soft drinks, or CSD, as well as water, sports, and energy drink offerings. Convenience foods account for approximately 58% of its total revenue, with beverages making up the rest. Pepsi owns the bulk of its manufacturing and distribution capacity in the US, but uses bottlers overseas for beverages. International markets made up 41% of total sales and 46% of operating profits before corporate expenses in 2025.

Market cap 214.2B

Apr 9, 2021 — Apr 7, 2026Daily1,254 data pointsStockStockTechnologyConsumer

Time Series

Relative Performance

Green: AAPLGray: PEP36 of 1,254 points (sampled)

Who Moves First

AAPL leads PEP by 6 days

AAPL tends to move before PEP.

After testing 13 timing shifts, the strongest relationship was -0.360 (they moved in opposite directions).

Do They Crash Together?

Correlation by Market Regime

How these series behave when markets are rising, falling, or diverging. A correlation that holds in drawdowns is very different from one that only works in rallies.

Both Rising

+0.284

13 periods · Return correlation when both series rose

Both Falling

-0.466

6 periods · Return correlation when both series fell

Diverging

-0.473

16 periods · Return correlation when series moved apart

R-Squared

11.6%

Share of variance in one series explained by the other.

Trend Agreement

59.3%

How often both series moved in the same direction period-to-period.

Overlap Quality

1,254

Deep shared window — 1,254 usable pairs.

Significance

p < 0.001

95% CI: [-0.389, -0.291]

Scatter

XY Regression

112.3120140160180200220240260280285.6126130140150160170180190194Apple Inc.PepsiCo, Inc.Data pointsFit (r = -0.341)

Pipeline

Data quality details

Pipeline Summary

1,254 paired data points survived the daily window.

Raw input

1,254

1,254

Normalized

1,254

1,254

Prepared

1,254

1,254

Aligned

1,254

1,254

Invalid removed

0

A: 0 / B: 0

Duplicates removed

0

A: 0 / B: 0

Alignment drops

0

A: 0 / B: 0

Series A

AAPL logo

Apple Inc.

AAPL

Market cap 3.8T

Stock · 1,254 raw → 1,254 prepared

Series B

PEP logo

PepsiCo, Inc.

PEP

Market cap 214.2B

Stock · 1,254 raw → 1,254 prepared

Sign agreement

100.0%

How often both values share the same sign.

Zero crossings

7

Estimated crossover points between normalized spreads.

Slope

-0.1212

Linear regression slope.

Intercept

186.1600

Linear regression intercept.

Related Extremes

Highest and Lowest Correlated

Saved 5 hours ago · ID: stock-aapl-vs-stock-pep-daily-20260408-hs42fu