Archer-Daniels-Midland Company vs Mondelez International Inc.
Why these are rivals: #1 and #2 by market value ($81B vs $39B) in Nasdaq's "Packaged Foods" industry; SEC SIC 2000 / 2070 (same major group).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Co-movement: daily return correlation, 252 sessions: 0.15 (needs >= 0.60)
- Mean reversion: ADF t-statistic of the spread: -2.29 (needs <= -2.873 (5% critical value))
ADM is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | ADM | MDLZ | Larger |
|---|---|---|---|
| 2025 | $80.3B | $38.5B | ADM |
| 2024 | $85.5B | $36.4B | ADM |
| 2023 | $93.9B | $36.0B | ADM |
| 2022 | $101.6B | $31.5B | ADM |
| 2021 | $85.2B | $28.7B | ADM |
| 2020 | $64.4B | $26.6B | ADM |
ADM led in every year with figures for both. Market value: ADM $38.8B, MDLZ $80.8B.
Neither is clearly ahead
Measured against the pair's own last 252 trading days.
The gap is 0.09 standard deviations, close to the usual relationship. 0 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| ADM | -7.1% | +14.0% | +29.4% |
| MDLZ | +7.7% | +13.0% | +5.6% |
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2521 (needs >= 254)
- Fail
- Co-movement: daily return correlation, 252 sessions: 0.15 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -2.29 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 21.14 (needs <= 63)
- Data
- Both stocks current
Prices side by side, and the gap between them
Data table (504 sessions)
| Date | ADM index | MDLZ index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 141.56 | 91.07 | +0.09 | near the usual relationship |
| 2026-10-21 | 140.71 | 87.65 | +0.43 | near the usual relationship |
| 2026-10-20 | 142.66 | 89.40 | +0.38 | near the usual relationship |
| 2026-10-19 | 142.75 | 88.49 | +0.50 | ADM ahead |
| 2026-10-16 | 146.47 | 89.28 | +0.67 | ADM ahead |
| 2026-10-15 | 147.04 | 88.06 | +0.86 | ADM ahead |
| 2026-10-14 | 148.30 | 87.41 | +1.03 | ADM ahead |
| 2026-10-13 | 147.52 | 85.92 | +1.15 | ADM ahead |
| 2026-10-12 | 142.59 | 86.32 | +0.77 | ADM ahead |
| 2026-10-09 | 141.65 | 84.40 | +0.94 | ADM ahead |
| 2026-10-08 | 146.19 | 84.76 | +1.22 | ADM ahead |
| 2026-10-07 | 144.22 | 82.96 | +1.30 | ADM ahead |
| 2026-10-06 | 145.76 | 83.29 | +1.37 | ADM ahead |
| 2026-10-05 | 146.22 | 81.71 | +1.60 | ADM ahead |
| 2026-10-02 | 142.64 | 81.29 | +1.41 | ADM ahead |
| 2026-10-01 | 140.99 | 80.69 | +1.38 | ADM ahead |
| 2026-09-30 | 140.74 | 80.78 | +1.36 | ADM ahead |
| 2026-09-29 | 140.78 | 82.87 | +1.12 | ADM ahead |
| 2026-09-28 | 142.52 | 84.07 | +1.11 | ADM ahead |
| 2026-09-25 | 143.83 | 84.17 | +1.19 | ADM ahead |
| 2026-09-24 | 145.18 | 85.02 | +1.19 | ADM ahead |
| 2026-09-23 | 145.66 | 85.83 | +1.14 | ADM ahead |
| 2026-09-22 | 145.99 | 85.33 | +1.22 | ADM ahead |
| 2026-09-21 | 147.84 | 84.06 | +1.49 | ADM ahead |
| 2026-09-18 | 151.03 | 85.01 | +1.59 | ADM ahead |
| 2026-09-17 | 156.19 | 86.67 | +1.74 | ADM ahead |
| 2026-09-16 | 150.71 | 87.12 | +1.37 | ADM ahead |
| 2026-09-15 | 153.56 | 86.76 | +1.59 | ADM ahead |
| 2026-09-14 | 153.26 | 87.16 | +1.54 | ADM ahead |
| 2026-09-11 | 153.76 | 87.23 | +1.58 | ADM ahead |
| 2026-09-10 | 154.10 | 87.27 | +1.61 | ADM ahead |
| 2026-09-09 | 153.46 | 87.20 | +1.59 | ADM ahead |
| 2026-09-08 | 149.82 | 86.10 | +1.50 | ADM ahead |
| 2026-09-04 | 150.02 | 85.61 | +1.58 | ADM ahead |
| 2026-09-03 | 149.61 | 85.85 | +1.54 | ADM ahead |
| 2026-09-02 | 151.38 | 87.25 | +1.51 | ADM ahead |
| 2026-09-01 | 149.91 | 86.07 | +1.56 | ADM ahead |
| 2026-08-31 | 144.13 | 86.71 | +1.14 | ADM ahead |
| 2026-08-28 | 144.57 | 87.12 | +1.13 | ADM ahead |
| 2026-08-27 | 140.25 | 87.22 | +0.84 | ADM ahead |
| 2026-08-26 | 142.00 | 88.03 | +0.88 | ADM ahead |
| 2026-08-25 | 140.35 | 88.00 | +0.78 | ADM ahead |
| 2026-08-24 | 138.58 | 90.39 | +0.42 | near the usual relationship |
| 2026-08-21 | 142.38 | 90.04 | +0.71 | ADM ahead |
| 2026-08-20 | 144.86 | 89.61 | +0.92 | ADM ahead |
| 2026-08-19 | 143.19 | 89.63 | +0.82 | ADM ahead |
| 2026-08-18 | 146.19 | 87.54 | +1.23 | ADM ahead |
| 2026-08-17 | 144.13 | 86.87 | +1.18 | ADM ahead |
| 2026-08-14 | 142.64 | 88.87 | +0.89 | ADM ahead |
| 2026-08-13 | 142.11 | 88.75 | +0.87 | ADM ahead |
| 2026-08-12 | 141.37 | 86.87 | +1.03 | ADM ahead |
| 2026-08-11 | 142.66 | 86.31 | +1.17 | ADM ahead |
| 2026-08-10 | 142.71 | 85.96 | +1.22 | ADM ahead |
| 2026-08-07 | 135.80 | 87.47 | +0.63 | ADM ahead |
| 2026-08-06 | 137.43 | 87.66 | +0.72 | ADM ahead |
| 2026-08-05 | 137.55 | 87.45 | +0.75 | ADM ahead |
| 2026-08-04 | 141.61 | 86.73 | +1.08 | ADM ahead |
| 2026-08-03 | 138.40 | 86.24 | +0.94 | ADM ahead |
| 2026-07-31 | 140.55 | 87.05 | +0.99 | ADM ahead |
| 2026-07-30 | 142.93 | 88.13 | +1.03 | ADM ahead |
| 2026-07-29 | 142.52 | 90.79 | +0.76 | ADM ahead |
| 2026-07-28 | 147.48 | 87.29 | +1.36 | ADM ahead |
| 2026-07-27 | 147.50 | 84.76 | +1.60 | ADM ahead |
| 2026-07-24 | 152.34 | 84.55 | +1.88 | ADM ahead |
| 2026-07-23 | 153.10 | 83.89 | +1.98 | ADM ahead |
| 2026-07-22 | 154.82 | 85.02 | +1.97 | ADM ahead |
| 2026-07-21 | 152.84 | 83.63 | +2.00 | ADM ahead |
| 2026-07-20 | 151.90 | 84.20 | +1.90 | ADM ahead |
| 2026-07-17 | 152.30 | 85.22 | +1.84 | ADM ahead |
| 2026-07-16 | 147.16 | 85.81 | +1.53 | ADM ahead |
| 2026-07-15 | 145.92 | 82.03 | +1.81 | ADM ahead |
| 2026-07-14 | 145.89 | 82.15 | +1.81 | ADM ahead |
| 2026-07-13 | 145.46 | 83.63 | +1.66 | ADM ahead |
| 2026-07-10 | 142.57 | 82.19 | +1.65 | ADM ahead |
| 2026-07-09 | 140.04 | 81.45 | +1.59 | ADM ahead |
| 2026-07-08 | 142.36 | 83.10 | +1.57 | ADM ahead |
| 2026-07-07 | 138.65 | 84.13 | +1.29 | ADM ahead |
| 2026-07-06 | 138.17 | 82.66 | +1.40 | ADM ahead |
| 2026-07-02 | 136.15 | 85.09 | +1.09 | ADM ahead |
| 2026-07-01 | 135.83 | 82.91 | +1.26 | ADM ahead |
| 2026-06-30 | 135.46 | 80.80 | +1.43 | ADM ahead |
| 2026-06-29 | 136.29 | 84.03 | +1.20 | ADM ahead |
| 2026-06-26 | 136.15 | 84.93 | +1.13 | ADM ahead |
| 2026-06-25 | 135.71 | 85.50 | +1.06 | ADM ahead |
| 2026-06-24 | 133.12 | 86.25 | +0.87 | ADM ahead |
| 2026-06-23 | 134.47 | 85.30 | +1.02 | ADM ahead |
| 2026-06-22 | 135.27 | 83.14 | +1.25 | ADM ahead |
| 2026-06-18 | 133.16 | 83.99 | +1.08 | ADM ahead |
| 2026-06-17 | 135.64 | 85.02 | +1.13 | ADM ahead |
| 2026-06-16 | 138.33 | 86.83 | +1.12 | ADM ahead |
| 2026-06-15 | 140.55 | 85.92 | +1.30 | ADM ahead |
| 2026-06-12 | 142.27 | 88.00 | +1.23 | ADM ahead |
| 2026-06-11 | 139.89 | 88.52 | +1.08 | ADM ahead |
| 2026-06-10 | 144.11 | 89.66 | +1.20 | ADM ahead |
| 2026-06-09 | 142.06 | 87.92 | +1.23 | ADM ahead |
| 2026-06-08 | 142.23 | 86.06 | +1.38 | ADM ahead |
| 2026-06-05 | 143.48 | 86.67 | +1.40 | ADM ahead |
| 2026-06-04 | 147.82 | 85.21 | +1.70 | ADM ahead |
| 2026-06-03 | 149.13 | 85.65 | +1.73 | ADM ahead |
| 2026-06-02 | 146.21 | 85.32 | +1.63 | ADM ahead |
| 2026-06-01 | 146.49 | 85.29 | +1.66 | ADM ahead |
| 2026-05-29 | 141.45 | 85.46 | +1.43 | ADM ahead |
| 2026-05-28 | 141.91 | 87.16 | +1.34 | ADM ahead |
| 2026-05-27 | 141.05 | 86.97 | +1.32 | ADM ahead |
| 2026-05-26 | 138.32 | 85.55 | +1.31 | ADM ahead |
| 2026-05-22 | 137.45 | 86.28 | +1.23 | ADM ahead |
| 2026-05-21 | 136.74 | 85.92 | +1.23 | ADM ahead |
| 2026-05-20 | 137.50 | 86.39 | +1.24 | ADM ahead |
| 2026-05-19 | 140.76 | 85.62 | +1.44 | ADM ahead |
| 2026-05-18 | 143.46 | 86.11 | +1.53 | ADM ahead |
| 2026-05-15 | 142.55 | 84.44 | +1.62 | ADM ahead |
| 2026-05-14 | 144.34 | 85.18 | +1.66 | ADM ahead |
| 2026-05-13 | 146.97 | 85.95 | +1.73 | ADM ahead |
| 2026-05-12 | 143.14 | 86.20 | +1.56 | ADM ahead |
| 2026-05-11 | 141.56 | 85.79 | +1.54 | ADM ahead |
| 2026-05-08 | 137.70 | 85.99 | +1.37 | ADM ahead |
| 2026-05-07 | 137.46 | 85.65 | +1.39 | ADM ahead |
| 2026-05-06 | 138.33 | 86.43 | +1.38 | ADM ahead |
| 2026-05-05 | 140.41 | 85.72 | +1.52 | ADM ahead |
| 2026-05-04 | 135.23 | 85.75 | +1.31 | ADM ahead |
| 2026-05-01 | 132.87 | 85.74 | +1.21 | ADM ahead |
| 2026-04-30 | 132.16 | 85.83 | +1.18 | ADM ahead |
| 2026-04-29 | 131.68 | 85.28 | +1.21 | ADM ahead |
| 2026-04-28 | 129.08 | 81.78 | +1.34 | ADM ahead |
| 2026-04-27 | 125.07 | 80.22 | +1.28 | ADM ahead |
| 2026-04-24 | 122.75 | 80.48 | +1.16 | ADM ahead |
| 2026-04-23 | 124.17 | 80.62 | +1.23 | ADM ahead |
| 2026-04-22 | 123.10 | 78.32 | +1.35 | ADM ahead |
| 2026-04-21 | 123.81 | 78.42 | +1.39 | ADM ahead |
| 2026-04-20 | 121.22 | 80.06 | +1.16 | ADM ahead |
| 2026-04-17 | 118.87 | 79.98 | +1.06 | ADM ahead |
| 2026-04-16 | 121.77 | 79.73 | +1.22 | ADM ahead |
| 2026-04-15 | 118.71 | 79.04 | +1.13 | ADM ahead |
| 2026-04-14 | 122.06 | 80.80 | +1.17 | ADM ahead |
| 2026-04-13 | 123.79 | 80.58 | +1.27 | ADM ahead |
| 2026-04-10 | 123.63 | 82.43 | +1.15 | ADM ahead |
| 2026-04-09 | 124.73 | 82.55 | +1.19 | ADM ahead |
| 2026-04-08 | 127.16 | 82.19 | +1.33 | ADM ahead |
| 2026-04-07 | 127.93 | 80.34 | +1.49 | ADM ahead |
| 2026-04-06 | 130.11 | 81.56 | +1.51 | ADM ahead |
| 2026-04-02 | 130.90 | 80.39 | +1.64 | ADM ahead |
| 2026-04-01 | 128.32 | 79.73 | +1.59 | ADM ahead |
| 2026-03-31 | 128.88 | 80.53 | +1.57 | ADM ahead |
| 2026-03-30 | 127.22 | 81.38 | +1.46 | ADM ahead |
| 2026-03-27 | 128.07 | 81.41 | +1.50 | ADM ahead |
| 2026-03-26 | 128.24 | 80.44 | +1.59 | ADM ahead |
| 2026-03-25 | 127.06 | 80.23 | +1.56 | ADM ahead |
| 2026-03-24 | 126.67 | 79.88 | +1.58 | ADM ahead |
| 2026-03-23 | 120.55 | 79.44 | +1.36 | ADM ahead |
| 2026-03-20 | 117.32 | 78.53 | +1.28 | ADM ahead |
| 2026-03-19 | 121.70 | 78.92 | +1.47 | ADM ahead |
| 2026-03-18 | 125.66 | 78.89 | +1.66 | ADM ahead |
| 2026-03-17 | 127.87 | 80.94 | +1.63 | ADM ahead |
| 2026-03-16 | 125.44 | 79.85 | +1.61 | ADM ahead |
| 2026-03-13 | 127.62 | 76.68 | +1.95 | ADM ahead |
| 2026-03-12 | 128.55 | 75.93 | +2.06 | ADM ahead |
| 2026-03-11 | 125.59 | 77.34 | +1.85 | ADM ahead |
| 2026-03-10 | 123.03 | 79.04 | +1.63 | ADM ahead |
| 2026-03-09 | 120.43 | 81.27 | +1.37 | ADM ahead |
| 2026-03-06 | 119.57 | 81.59 | +1.32 | ADM ahead |
| 2026-03-05 | 117.96 | 81.28 | +1.28 | ADM ahead |
| 2026-03-04 | 119.18 | 81.99 | +1.30 | ADM ahead |
| 2026-03-03 | 120.55 | 82.10 | +1.36 | ADM ahead |
| 2026-03-02 | 123.42 | 84.44 | +1.35 | ADM ahead |
| 2026-02-27 | 122.41 | 86.03 | +1.21 | ADM ahead |
| 2026-02-26 | 119.54 | 83.74 | +1.24 | ADM ahead |
| 2026-02-25 | 119.59 | 83.99 | +1.24 | ADM ahead |
| 2026-02-24 | 120.60 | 85.40 | +1.20 | ADM ahead |
| 2026-02-23 | 120.02 | 84.35 | +1.25 | ADM ahead |
| 2026-02-20 | 120.35 | 82.15 | +1.43 | ADM ahead |
| 2026-02-19 | 122.09 | 81.92 | +1.54 | ADM ahead |
| 2026-02-18 | 119.72 | 83.93 | +1.30 | ADM ahead |
| 2026-02-17 | 121.58 | 83.63 | +1.42 | ADM ahead |
| 2026-02-13 | 123.24 | 87.44 | +1.26 | ADM ahead |
| 2026-02-12 | 123.23 | 86.42 | +1.33 | ADM ahead |
| 2026-02-11 | 122.87 | 85.88 | +1.37 | ADM ahead |
| 2026-02-10 | 121.67 | 84.73 | +1.40 | ADM ahead |
| 2026-02-09 | 119.41 | 84.84 | +1.30 | ADM ahead |
| 2026-02-06 | 117.61 | 83.85 | +1.29 | ADM ahead |
| 2026-02-05 | 116.01 | 84.26 | +1.19 | ADM ahead |
| 2026-02-04 | 119.40 | 82.98 | +1.45 | ADM ahead |
| 2026-02-03 | 119.49 | 83.08 | +1.46 | ADM ahead |
| 2026-02-02 | 120.71 | 81.99 | +1.61 | ADM ahead |
| 2026-01-30 | 119.34 | 81.68 | +1.58 | ADM ahead |
| 2026-01-29 | 118.65 | 80.06 | +1.68 | ADM ahead |
| 2026-01-28 | 119.50 | 80.65 | +1.69 | ADM ahead |
| 2026-01-27 | 120.98 | 82.45 | +1.65 | ADM ahead |
| 2026-01-26 | 119.45 | 81.77 | +1.64 | ADM ahead |
| 2026-01-23 | 119.70 | 81.59 | +1.68 | ADM ahead |
| 2026-01-22 | 119.01 | 80.44 | +1.75 | ADM ahead |
| 2026-01-21 | 120.04 | 80.12 | +1.84 | ADM ahead |
| 2026-01-20 | 116.81 | 81.01 | +1.62 | ADM ahead |
| 2026-01-16 | 115.57 | 79.97 | +1.65 | ADM ahead |
| 2026-01-15 | 118.03 | 80.05 | +1.79 | ADM ahead |
| 2026-01-14 | 114.54 | 79.95 | +1.63 | ADM ahead |
| 2026-01-13 | 112.38 | 78.15 | +1.67 | ADM ahead |
| 2026-01-12 | 110.28 | 76.73 | +1.68 | ADM ahead |
| 2026-01-09 | 109.82 | 76.96 | +1.65 | ADM ahead |
| 2026-01-08 | 108.49 | 75.43 | +1.72 | ADM ahead |
| 2026-01-07 | 103.76 | 71.96 | +1.75 | ADM ahead |
| 2026-01-06 | 107.25 | 73.67 | +1.83 | ADM ahead |
| 2026-01-05 | 105.64 | 75.08 | +1.63 | ADM ahead |
| 2026-01-02 | 104.70 | 74.95 | +1.60 | ADM ahead |
| 2025-12-31 | 101.93 | 75.20 | +1.41 | ADM ahead |
| 2025-12-30 | 103.14 | 76.57 | +1.39 | ADM ahead |
| 2025-12-29 | 103.23 | 76.89 | +1.37 | ADM ahead |
| 2025-12-26 | 102.68 | 76.33 | +1.40 | ADM ahead |
| 2025-12-24 | 102.45 | 76.31 | +1.40 | ADM ahead |
| 2025-12-23 | 101.90 | 75.65 | +1.43 | ADM ahead |
| 2025-12-22 | 102.57 | 75.87 | +1.47 | ADM ahead |
| 2025-12-19 | 103.26 | 76.14 | +1.50 | ADM ahead |
| 2025-12-18 | 103.37 | 76.53 | +1.49 | ADM ahead |
| 2025-12-17 | 103.83 | 75.19 | +1.65 | ADM ahead |
| 2025-12-16 | 102.80 | 75.40 | +1.58 | ADM ahead |
| 2025-12-15 | 106.74 | 75.80 | +1.82 | ADM ahead |
| 2025-12-12 | 106.40 | 75.50 | +1.84 | ADM ahead |
| 2025-12-11 | 106.24 | 75.15 | +1.88 | ADM ahead |
| 2025-12-10 | 103.21 | 75.29 | +1.69 | ADM ahead |
| 2025-12-09 | 102.96 | 75.59 | +1.66 | ADM ahead |
| 2025-12-08 | 102.73 | 76.50 | +1.57 | ADM ahead |
| 2025-12-05 | 104.63 | 76.70 | +1.70 | ADM ahead |
| 2025-12-04 | 105.25 | 77.95 | +1.64 | ADM ahead |
| 2025-12-03 | 106.03 | 78.28 | +1.68 | ADM ahead |
| 2025-12-02 | 106.93 | 78.22 | +1.77 | ADM ahead |
| 2025-12-01 | 107.30 | 78.79 | +1.76 | ADM ahead |
| 2025-11-28 | 107.70 | 80.43 | +1.65 | ADM ahead |
| 2025-11-26 | 107.36 | 79.92 | +1.69 | ADM ahead |
| 2025-11-25 | 105.85 | 78.97 | +1.69 | ADM ahead |
| 2025-11-24 | 103.99 | 78.50 | +1.62 | ADM ahead |
| 2025-11-21 | 103.95 | 79.63 | +1.53 | ADM ahead |
| 2025-11-20 | 102.61 | 77.88 | +1.61 | ADM ahead |
| 2025-11-19 | 103.24 | 78.35 | +1.63 | ADM ahead |
| 2025-11-18 | 108.21 | 77.93 | +2.04 | ADM ahead |
| 2025-11-17 | 104.15 | 77.63 | +1.80 | ADM ahead |
| 2025-11-14 | 103.92 | 79.44 | +1.63 | ADM ahead |
| 2025-11-13 | 104.31 | 79.59 | +1.66 | ADM ahead |
| 2025-11-12 | 102.39 | 79.65 | +1.53 | ADM ahead |
| 2025-11-11 | 102.18 | 79.80 | +1.51 | ADM ahead |
| 2025-11-10 | 99.29 | 78.58 | +1.42 | ADM ahead |
| 2025-11-07 | 101.03 | 79.88 | +1.44 | ADM ahead |
| 2025-11-06 | 100.57 | 78.50 | +1.55 | ADM ahead |
| 2025-11-05 | 99.80 | 78.26 | +1.53 | ADM ahead |
| 2025-11-04 | 106.60 | 78.35 | +2.07 | ADM ahead |
| 2025-11-03 | 106.54 | 79.14 | +2.01 | ADM ahead |
| 2025-10-31 | 107.32 | 80.27 | +1.97 | ADM ahead |
| 2025-10-30 | 107.61 | 80.71 | +1.97 | ADM ahead |
| 2025-10-29 | 107.30 | 80.82 | +1.96 | ADM ahead |
| 2025-10-28 | 108.81 | 84.12 | +1.77 | ADM ahead |
| 2025-10-27 | 109.82 | 86.14 | +1.67 | ADM ahead |
| 2025-10-24 | 112.29 | 84.90 | +1.99 | ADM ahead |
| 2025-10-23 | 110.83 | 85.23 | +1.87 | ADM ahead |
| 2025-10-22 | 109.77 | 86.57 | +1.68 | ADM ahead |
| 2025-10-21 | 109.43 | 86.27 | +1.70 | ADM ahead |
| 2025-10-20 | 112.04 | 87.75 | +1.77 | ADM ahead |
| 2025-10-17 | 112.29 | 87.26 | +1.86 | ADM ahead |
| 2025-10-16 | 111.52 | 86.06 | +1.94 | ADM ahead |
| 2025-10-15 | 112.38 | 86.14 | +2.02 | ADM ahead |
| 2025-10-14 | 109.66 | 86.80 | +1.76 | ADM ahead |
| 2025-10-13 | 109.29 | 85.46 | +1.89 | ADM ahead |
| 2025-10-10 | 107.87 | 85.85 | +1.75 | ADM ahead |
| 2025-10-09 | 108.71 | 85.22 | +1.91 | ADM ahead |
| 2025-10-08 | 110.32 | 86.14 | +1.96 | ADM ahead |
| 2025-10-07 | 111.51 | 87.45 | +1.95 | ADM ahead |
| 2025-10-06 | 110.73 | 86.31 | +2.03 | ADM ahead |
| 2025-10-03 | 108.23 | 87.55 | +1.70 | ADM ahead |
| 2025-10-02 | 104.80 | 86.31 | +1.55 | ADM ahead |
| 2025-10-01 | 105.05 | 88.25 | +1.38 | ADM ahead |
| 2025-09-30 | 105.92 | 87.27 | +1.57 | ADM ahead |
| 2025-09-29 | 106.93 | 87.50 | +1.65 | ADM ahead |
| 2025-09-26 | 107.45 | 88.52 | +1.60 | ADM ahead |
| 2025-09-25 | 108.28 | 87.40 | +1.81 | ADM ahead |
| 2025-09-24 | 109.01 | 89.96 | +1.62 | ADM ahead |
| 2025-09-23 | 107.62 | 89.16 | +1.59 | ADM ahead |
| 2025-09-22 | 106.13 | 88.71 | +1.52 | ADM ahead |
| 2025-09-19 | 109.31 | 89.01 | +1.79 | ADM ahead |
| 2025-09-18 | 107.85 | 88.36 | +1.75 | ADM ahead |
| 2025-09-17 | 108.32 | 87.78 | +1.88 | ADM ahead |
| 2025-09-16 | 110.55 | 87.59 | +2.12 | ADM ahead |
| 2025-09-15 | 107.32 | 86.06 | +2.03 | ADM ahead |
| 2025-09-12 | 109.17 | 86.59 | +2.17 | ADM ahead |
| 2025-09-11 | 108.90 | 86.69 | +2.16 | ADM ahead |
| 2025-09-10 | 108.88 | 86.99 | +2.15 | ADM ahead |
| 2025-09-09 | 110.27 | 87.41 | +2.26 | ADM ahead |
| 2025-09-08 | 110.46 | 86.53 | +2.42 | ADM ahead |
| 2025-09-05 | 111.60 | 86.25 | +2.60 | ADM ahead |
| 2025-09-04 | 109.82 | 85.08 | +2.62 | ADM ahead |
| 2025-09-03 | 109.43 | 85.64 | +2.55 | ADM ahead |
| 2025-09-02 | 110.02 | 86.32 | +2.55 | ADM ahead |
| 2025-08-29 | 111.06 | 85.83 | +2.77 | ADM ahead |
| 2025-08-28 | 111.10 | 85.61 | +2.85 | ADM ahead |
| 2025-08-27 | 111.19 | 86.28 | +2.82 | ADM ahead |
| 2025-08-26 | 111.38 | 86.69 | +2.84 | ADM ahead |
| 2025-08-25 | 113.85 | 86.56 | +3.18 | ADM ahead |
| 2025-08-22 | 111.56 | 88.59 | +2.71 | ADM ahead |
| 2025-08-21 | 108.37 | 87.93 | +2.48 | ADM ahead |
| 2025-08-20 | 107.68 | 88.25 | +2.39 | ADM ahead |
| 2025-08-19 | 106.31 | 87.54 | +2.36 | ADM ahead |
| 2025-08-18 | 105.80 | 86.39 | +2.50 | ADM ahead |
| 2025-08-15 | 105.94 | 86.73 | +2.51 | ADM ahead |
| 2025-08-14 | 105.18 | 85.86 | +2.58 | ADM ahead |
| 2025-08-13 | 106.06 | 86.88 | +2.58 | ADM ahead |
| 2025-08-12 | 103.83 | 85.76 | +2.50 | ADM ahead |
| 2025-08-11 | 103.33 | 86.00 | +2.43 | ADM ahead |
| 2025-08-08 | 102.55 | 86.38 | +2.30 | ADM ahead |
| 2025-08-07 | 102.59 | 87.18 | +2.20 | ADM ahead |
| 2025-08-06 | 100.59 | 86.71 | +2.03 | ADM ahead |
| 2025-08-05 | 102.16 | 87.04 | +2.20 | ADM ahead |
| 2025-08-04 | 96.38 | 88.75 | +1.13 | ADM ahead |
| 2025-08-01 | 95.48 | 89.31 | +0.90 | ADM ahead |
| 2025-07-31 | 96.06 | 90.37 | +0.81 | ADM ahead |
| 2025-07-30 | 97.87 | 90.95 | +0.96 | ADM ahead |
| 2025-07-29 | 96.10 | 97.39 | -0.19 | near the usual relationship |
| 2025-07-28 | 97.09 | 97.21 | -0.04 | near the usual relationship |
| 2025-07-25 | 98.14 | 98.60 | -0.10 | near the usual relationship |
| 2025-07-24 | 98.40 | 98.04 | +0.00 | near the usual relationship |
| 2025-07-23 | 99.68 | 98.03 | +0.15 | near the usual relationship |
| 2025-07-22 | 98.24 | 98.84 | -0.14 | near the usual relationship |
| 2025-07-21 | 96.01 | 96.98 | -0.20 | near the usual relationship |
| 2025-07-18 | 96.44 | 97.53 | -0.22 | near the usual relationship |
| 2025-07-17 | 94.93 | 97.51 | -0.41 | near the usual relationship |
| 2025-07-16 | 95.74 | 94.26 | +0.08 | near the usual relationship |
| 2025-07-15 | 95.27 | 93.24 | +0.14 | near the usual relationship |
| 2025-07-14 | 96.28 | 94.50 | +0.09 | near the usual relationship |
| 2025-07-11 | 97.41 | 93.85 | +0.29 | near the usual relationship |
| 2025-07-10 | 97.32 | 93.81 | +0.28 | near the usual relationship |
| 2025-07-09 | 95.74 | 93.39 | +0.14 | near the usual relationship |
| 2025-07-08 | 96.72 | 95.26 | +0.02 | near the usual relationship |
| 2025-07-07 | 96.67 | 96.14 | -0.09 | near the usual relationship |
| 2025-07-03 | 98.07 | 96.38 | +0.03 | near the usual relationship |
| 2025-07-02 | 99.11 | 97.18 | +0.05 | near the usual relationship |
| 2025-07-01 | 96.54 | 96.34 | -0.14 | near the usual relationship |
| 2025-06-30 | 93.58 | 94.22 | -0.24 | near the usual relationship |
| 2025-06-27 | 92.16 | 94.69 | -0.47 | near the usual relationship |
| 2025-06-26 | 94.27 | 94.65 | -0.23 | near the usual relationship |
| 2025-06-25 | 92.73 | 93.99 | -0.33 | near the usual relationship |
| 2025-06-24 | 93.85 | 95.60 | -0.39 | near the usual relationship |
| 2025-06-23 | 93.65 | 95.69 | -0.43 | near the usual relationship |
| 2025-06-20 | 95.05 | 95.43 | -0.25 | near the usual relationship |
| 2025-06-18 | 95.73 | 92.69 | +0.13 | near the usual relationship |
| 2025-06-17 | 95.92 | 92.69 | +0.14 | near the usual relationship |
| 2025-06-16 | 96.03 | 93.89 | +0.01 | near the usual relationship |
| 2025-06-13 | 92.20 | 93.50 | -0.37 | near the usual relationship |
| 2025-06-12 | 88.05 | 95.17 | -1.05 | MDLZ ahead |
| 2025-06-11 | 86.29 | 93.53 | -1.08 | MDLZ ahead |
| 2025-06-10 | 86.42 | 93.94 | -1.12 | MDLZ ahead |
| 2025-06-09 | 84.93 | 93.18 | -1.23 | MDLZ ahead |
| 2025-06-06 | 84.08 | 92.41 | -1.26 | MDLZ ahead |
| 2025-06-05 | 83.30 | 92.72 | -1.40 | MDLZ ahead |
| 2025-06-04 | 83.76 | 93.08 | -1.40 | MDLZ ahead |
| 2025-06-03 | 83.83 | 93.66 | -1.47 | MDLZ ahead |
| 2025-06-02 | 85.28 | 94.31 | -1.37 | MDLZ ahead |
| 2025-05-30 | 85.59 | 94.29 | -1.34 | MDLZ ahead |
| 2025-05-29 | 85.76 | 94.26 | -1.33 | MDLZ ahead |
| 2025-05-28 | 85.73 | 93.07 | -1.21 | MDLZ ahead |
| 2025-05-27 | 86.22 | 93.46 | -1.20 | MDLZ ahead |
| 2025-05-23 | 85.00 | 92.40 | -1.24 | MDLZ ahead |
| 2025-05-22 | 85.04 | 91.49 | -1.14 | MDLZ ahead |
| 2025-05-21 | 85.64 | 91.17 | -1.04 | MDLZ ahead |
| 2025-05-20 | 88.94 | 92.02 | -0.74 | MDLZ ahead |
| 2025-05-19 | 88.67 | 91.81 | -0.75 | MDLZ ahead |
| 2025-05-16 | 88.88 | 91.25 | -0.67 | MDLZ ahead |
| 2025-05-15 | 86.63 | 91.00 | -0.92 | MDLZ ahead |
| 2025-05-14 | 87.61 | 88.77 | -0.54 | MDLZ ahead |
| 2025-05-13 | 89.88 | 89.61 | -0.37 | near the usual relationship |
| 2025-05-12 | 88.48 | 91.97 | -0.82 | MDLZ ahead |
| 2025-05-09 | 86.05 | 92.72 | -1.21 | MDLZ ahead |
| 2025-05-08 | 84.57 | 93.91 | -1.55 | MDLZ ahead |
| 2025-05-07 | 84.89 | 93.85 | -1.51 | MDLZ ahead |
| 2025-05-06 | 85.67 | 94.31 | -1.48 | MDLZ ahead |
| 2025-05-05 | 84.22 | 94.72 | -1.73 | MDLZ ahead |
| 2025-05-02 | 84.84 | 94.65 | -1.66 | MDLZ ahead |
| 2025-05-01 | 84.36 | 94.82 | -1.76 | MDLZ ahead |
| 2025-04-30 | 84.66 | 95.18 | -1.78 | MDLZ ahead |
| 2025-04-29 | 84.72 | 91.72 | -1.38 | MDLZ ahead |
| 2025-04-28 | 85.20 | 90.95 | -1.23 | MDLZ ahead |
| 2025-04-25 | 85.55 | 91.63 | -1.28 | MDLZ ahead |
| 2025-04-24 | 86.49 | 91.53 | -1.15 | MDLZ ahead |
| 2025-04-23 | 85.32 | 94.13 | -1.63 | MDLZ ahead |
| 2025-04-22 | 86.06 | 95.40 | -1.70 | MDLZ ahead |
| 2025-04-21 | 85.27 | 94.66 | -1.73 | MDLZ ahead |
| 2025-04-17 | 84.79 | 94.05 | -1.74 | MDLZ ahead |
| 2025-04-16 | 81.79 | 92.88 | -2.03 | MDLZ ahead |
| 2025-04-15 | 81.68 | 93.64 | -2.17 | MDLZ ahead |
| 2025-04-14 | 82.32 | 95.42 | -2.32 | MDLZ ahead |
| 2025-04-11 | 81.28 | 93.67 | -2.28 | MDLZ ahead |
| 2025-04-10 | 78.87 | 92.18 | -2.48 | MDLZ ahead |
| 2025-04-09 | 78.69 | 92.47 | -2.58 | MDLZ ahead |
| 2025-04-08 | 74.10 | 89.49 | -2.96 | MDLZ ahead |
| 2025-04-07 | 76.21 | 91.13 | -2.90 | MDLZ ahead |
| 2025-04-04 | 76.81 | 92.64 | -3.07 | MDLZ ahead |
| 2025-04-03 | 84.34 | 94.86 | -2.24 | MDLZ ahead |
| 2025-04-02 | 85.05 | 92.39 | -1.83 | MDLZ ahead |
| 2025-04-01 | 85.48 | 94.51 | -2.08 | MDLZ ahead |
| 2025-03-31 | 85.12 | 94.79 | -2.19 | MDLZ ahead |
| 2025-03-28 | 84.88 | 94.61 | -2.24 | MDLZ ahead |
| 2025-03-27 | 85.60 | 94.30 | -2.12 | MDLZ ahead |
| 2025-03-26 | 83.46 | 92.67 | -2.25 | MDLZ ahead |
| 2025-03-25 | 81.65 | 90.37 | -2.24 | MDLZ ahead |
| 2025-03-24 | 81.44 | 90.74 | -2.36 | MDLZ ahead |
| 2025-03-21 | 81.74 | 90.12 | -2.26 | MDLZ ahead |
| 2025-03-20 | 82.48 | 89.34 | -2.04 | MDLZ ahead |
| 2025-03-19 | 83.21 | 89.41 | -1.96 | MDLZ ahead |
| 2025-03-18 | 84.54 | 90.32 | -1.90 | MDLZ ahead |
| 2025-03-17 | 85.09 | 90.93 | -1.92 | MDLZ ahead |
| 2025-03-14 | 83.65 | 89.84 | -2.00 | MDLZ ahead |
| 2025-03-13 | 83.78 | 90.37 | -2.08 | MDLZ ahead |
| 2025-03-12 | 83.48 | 90.78 | -2.20 | MDLZ ahead |
| 2025-03-11 | 86.24 | 94.79 | -2.37 | MDLZ ahead |
| 2025-03-10 | 89.73 | 95.21 | -1.88 | MDLZ ahead |
| 2025-03-07 | 87.66 | 94.64 | -2.13 | MDLZ ahead |
| 2025-03-06 | 85.21 | 93.27 | -2.34 | MDLZ ahead |
| 2025-03-05 | 81.21 | 92.62 | -2.96 | MDLZ ahead |
| 2025-03-04 | 81.24 | 91.21 | -2.75 | MDLZ ahead |
| 2025-03-03 | 82.59 | 91.90 | -2.63 | MDLZ ahead |
| 2025-02-28 | 83.69 | 89.73 | -2.09 | MDLZ ahead |
| 2025-02-27 | 82.61 | 89.38 | -2.22 | MDLZ ahead |
| 2025-02-26 | 83.30 | 88.64 | -1.97 | MDLZ ahead |
| 2025-02-25 | 86.45 | 92.04 | -1.97 | MDLZ ahead |
| 2025-02-24 | 85.82 | 91.31 | -1.96 | MDLZ ahead |
| 2025-02-21 | 85.44 | 90.35 | -1.86 | MDLZ ahead |
| 2025-02-20 | 82.54 | 86.85 | -1.79 | MDLZ ahead |
| 2025-02-19 | 81.63 | 86.52 | -1.90 | MDLZ ahead |
| 2025-02-18 | 81.40 | 85.47 | -1.76 | MDLZ ahead |
| 2025-02-14 | 81.74 | 84.97 | -1.61 | MDLZ ahead |
| 2025-02-13 | 81.05 | 85.44 | -1.81 | MDLZ ahead |
| 2025-02-12 | 80.18 | 84.66 | -1.82 | MDLZ ahead |
| 2025-02-11 | 82.34 | 84.45 | -1.39 | MDLZ ahead |
| 2025-02-10 | 81.72 | 81.77 | -1.03 | MDLZ ahead |
| 2025-02-07 | 81.13 | 81.66 | -1.09 | MDLZ ahead |
| 2025-02-06 | 80.76 | 80.79 | -0.99 | MDLZ ahead |
| 2025-02-05 | 82.36 | 80.23 | -0.62 | MDLZ ahead |
| 2025-02-04 | 84.20 | 78.40 | +0.00 | near the usual relationship |
| 2025-02-03 | 88.69 | 80.20 | +0.40 | near the usual relationship |
| 2025-01-31 | 90.83 | 81.01 | +0.59 | ADM ahead |
| 2025-01-30 | 91.61 | 81.60 | +0.61 | ADM ahead |
| 2025-01-29 | 91.60 | 79.81 | +0.90 | ADM ahead |
| 2025-01-28 | 89.70 | 79.51 | +0.68 | ADM ahead |
| 2025-01-27 | 92.50 | 81.49 | +0.77 | ADM ahead |
| 2025-01-24 | 89.56 | 80.22 | +0.56 | ADM ahead |
| 2025-01-23 | 89.82 | 79.58 | +0.71 | ADM ahead |
| 2025-01-22 | 89.57 | 78.67 | +0.81 | ADM ahead |
| 2025-01-21 | 90.82 | 80.47 | +0.70 | ADM ahead |
| 2025-01-17 | 90.94 | 80.83 | +0.65 | ADM ahead |
| 2025-01-16 | 90.44 | 81.03 | +0.55 | ADM ahead |
| 2025-01-15 | 90.67 | 79.13 | +0.87 | ADM ahead |
| 2025-01-14 | 90.76 | 79.77 | +0.77 | ADM ahead |
| 2025-01-13 | 92.41 | 78.47 | +1.19 | ADM ahead |
| 2025-01-10 | 90.59 | 78.58 | +0.93 | ADM ahead |
| 2025-01-08 | 88.37 | 81.43 | +0.18 | near the usual relationship |
| 2025-01-07 | 87.64 | 81.43 | +0.07 | near the usual relationship |
| 2025-01-06 | 88.00 | 81.34 | +0.13 | near the usual relationship |
| 2025-01-03 | 88.74 | 83.63 | -0.11 | near the usual relationship |
| 2025-01-02 | 89.04 | 83.12 | +0.00 | near the usual relationship |
| 2024-12-31 | 89.57 | 83.45 | +0.01 | near the usual relationship |
| 2024-12-30 | 88.78 | 83.21 | -0.07 | near the usual relationship |
| 2024-12-27 | 89.68 | 84.12 | -0.08 | near the usual relationship |
| 2024-12-26 | 89.73 | 83.61 | -0.01 | near the usual relationship |
| 2024-12-24 | 89.77 | 83.82 | -0.05 | near the usual relationship |
| 2024-12-23 | 89.38 | 82.82 | +0.03 | near the usual relationship |
| 2024-12-20 | 89.52 | 82.97 | +0.02 | near the usual relationship |
| 2024-12-19 | 87.55 | 82.80 | -0.21 | near the usual relationship |
| 2024-12-18 | 88.39 | 83.85 | -0.25 | near the usual relationship |
| 2024-12-17 | 91.29 | 85.69 | -0.14 | near the usual relationship |
| 2024-12-16 | 91.65 | 85.90 | -0.14 | near the usual relationship |
| 2024-12-13 | 92.91 | 86.52 | -0.08 | near the usual relationship |
| 2024-12-12 | 94.11 | 87.50 | -0.07 | near the usual relationship |
| 2024-12-11 | 93.83 | 88.18 | -0.19 | near the usual relationship |
| 2024-12-10 | 92.34 | 86.27 | -0.13 | near the usual relationship |
| 2024-12-09 | 92.16 | 85.83 | -0.11 | near the usual relationship |
| 2024-12-06 | 91.17 | 87.82 | -0.46 | near the usual relationship |
| 2024-12-05 | 92.70 | 88.35 | -0.36 | near the usual relationship |
| 2024-12-04 | 91.79 | 88.39 | -0.47 | near the usual relationship |
| 2024-12-03 | 94.27 | 90.54 | -0.45 | near the usual relationship |
| 2024-12-02 | 96.22 | 91.13 | -0.32 | near the usual relationship |
| 2024-11-29 | 96.81 | 90.74 | -0.22 | near the usual relationship |
| 2024-11-27 | 96.40 | 90.89 | -0.29 | near the usual relationship |
| 2024-11-26 | 95.25 | 90.64 | -0.38 | near the usual relationship |
| 2024-11-25 | 93.99 | 90.72 | -0.53 | MDLZ ahead |
| 2024-11-22 | 94.20 | 89.97 | -0.43 | near the usual relationship |
| 2024-11-21 | 94.31 | 90.51 | -0.48 | near the usual relationship |
| 2024-11-20 | 94.89 | 90.00 | -0.38 | near the usual relationship |
| 2024-11-19 | 93.95 | 89.23 | -0.40 | near the usual relationship |
| 2024-11-18 | 93.46 | 89.19 | -0.45 | near the usual relationship |
| 2024-11-15 | 94.59 | 90.09 | -0.44 | near the usual relationship |
| 2024-11-14 | 93.10 | 91.59 | -0.74 | MDLZ ahead |
| 2024-11-13 | 91.97 | 92.20 | -0.92 | MDLZ ahead |
| 2024-11-12 | 91.19 | 92.93 | -1.08 | MDLZ ahead |
| 2024-11-11 | 92.84 | 92.34 | -0.87 | MDLZ ahead |
| 2024-11-08 | 92.43 | 92.48 | -0.93 | MDLZ ahead |
| 2024-11-07 | 93.07 | 91.81 | -0.80 | MDLZ ahead |
| 2024-11-06 | 94.43 | 92.72 | -0.77 | MDLZ ahead |
| 2024-11-05 | 92.20 | 96.47 | -1.35 | MDLZ ahead |
| 2024-11-04 | 98.05 | 95.50 | -0.71 | MDLZ ahead |
| 2024-11-01 | 96.88 | 95.71 | -0.85 | MDLZ ahead |
| 2024-10-31 | 97.89 | 95.67 | -0.75 | MDLZ ahead |
| 2024-10-30 | 98.46 | 97.50 | -0.88 | MDLZ ahead |
| 2024-10-29 | 99.86 | 96.61 | -0.68 | MDLZ ahead |
| 2024-10-28 | 101.49 | 97.15 | -0.59 | MDLZ ahead |
| 2024-10-25 | 100.28 | 96.72 | -0.66 | MDLZ ahead |
| 2024-10-24 | 100.18 | 97.72 | -0.77 | MDLZ ahead |
| 2024-10-23 | 99.43 | 98.58 | -0.91 | MDLZ ahead |
| 2024-10-22 | 98.74 | 99.68 | -1.07 | MDLZ ahead |
| 2024-10-21 | 99.52 | 98.39 | -0.90 | MDLZ ahead |
| 2024-10-18 | 100.00 | 100.00 | -1.00 | MDLZ ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Apr 4, 2025 (ADM -8.9%, MDLZ -2.3%); Jul 30, 2025 (ADM +1.9%, MDLZ -6.6%); Aug 5, 2025 (ADM +6.0%, MDLZ -1.9%). Upcoming earnings: MDLZ Oct 27, 2026 (not-supplied); MDLZ Oct 29, 2026 (after-hours); ADM Nov 3, 2026 (pre-market).
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
No simulated trade through Oct 20, 2026: the pair rarely passed every test while 2 standard deviations apart.
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
ADM and MDLZ at a glance
ADM Archer-Daniels-Midland Company
- Listing
- NYSE · SEC CIK 7084
- Industry
- Packaged Foods · SIC 2070 Fats & Oils
- Market value
- $38.8B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
MDLZ Mondelez International Inc.
- Listing
- Nasdaq · SEC CIK 1103982
- Industry
- Packaged Foods · SIC 2000 Food and Kindred Products
- Market value
- $80.8B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Other rivals of ADM and MDLZ
| Pair | Status | Ahead now | Industry |
|---|---|---|---|
| ADM / BG | Watchlist | ADM by 1.87 sd | SIC 2070 Fats & Oils |
| MDLZ / KHC | Watchlist | MDLZ by 0.85 sd | Packaged Foods |
| ADM / KHC | Watchlist | ADM by 0.43 sd | Packaged Foods |
Follow the research behind the paper book
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Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
