The Coca-Cola Company vs PepsiCo Inc.
WatchlistKO / PEPReel example (Brando Le, 2026-10-12): Coca-Cola and Pepsi.Prices through Oct 22, 2026
Why these are rivals: #1 and #2 by market value ($402B vs $182B) in Nasdaq's "Beverages (Production/Distribution)" industry; SEC SIC 2080 / 2080 (same major group); #1 and #2 by market value ($402B vs $182B) with SEC SIC 2080 (Beverages).
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: 0.59 (needs >= 0.60)
- Mean reversion: ADF t-statistic of the spread: 0.08 (needs <= -2.873 (5% critical value))
- Speed: half-life of the spread, sessions: no mean reversion measured (needs <= 63)
Business leadership
PEP is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | KO | PEP | Larger |
|---|---|---|---|
| 2025 | $47.9B | $93.9B | PEP |
| 2024 | $47.1B | $91.9B | PEP |
| 2023 | $45.8B | $91.5B | PEP |
| 2022 | $43.0B | $86.4B | PEP |
| 2021 | $38.7B | $79.5B | PEP |
| 2020 | $33.0B | $70.4B | PEP |
PEP led in every year with figures for both. Market value: KO $401.9B, PEP $182.0B.
Stock leadership
KO is ahead now
Measured against the pair's own last 252 trading days.
KO leads PEP by 1.83 standard deviations: +27.2% over its usual price ratio. 2 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| KO | +15.9% | +25.0% | +33.9% |
| PEP | +1.6% | -10.8% | -9.4% |
Relationship
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: 0.58 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: 0.08 (needs <= -2.873 (5% critical value))
- Fail
- Speed: half-life of the spread, sessions: no mean reversion measured (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
KO The Coca-Cola Company PEP PepsiCo Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: KO relative to PEP, against the 252 sessions before each day. Above 0: KO ahead; below 0: PEP ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | KO index | PEP index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 135.35 | 79.30 | +1.83 | KO ahead |
| 2026-10-21 | 131.57 | 76.95 | +1.86 | KO ahead |
| 2026-10-20 | 132.72 | 76.56 | +1.99 | KO ahead |
| 2026-10-19 | 132.62 | 76.30 | +2.03 | KO ahead |
| 2026-10-16 | 133.30 | 75.11 | +2.21 | KO ahead |
| 2026-10-15 | 130.61 | 73.33 | +2.27 | KO ahead |
| 2026-10-14 | 130.30 | 73.84 | +2.23 | KO ahead |
| 2026-10-13 | 127.92 | 72.72 | +2.23 | KO ahead |
| 2026-10-12 | 127.47 | 72.36 | +2.27 | KO ahead |
| 2026-10-09 | 125.00 | 71.96 | +2.19 | KO ahead |
| 2026-10-08 | 124.60 | 73.31 | +2.04 | KO ahead |
| 2026-10-07 | 121.83 | 70.68 | +2.18 | KO ahead |
| 2026-10-06 | 122.33 | 71.81 | +2.11 | KO ahead |
| 2026-10-05 | 122.81 | 71.78 | +2.18 | KO ahead |
| 2026-10-02 | 121.59 | 71.91 | +2.11 | KO ahead |
| 2026-10-01 | 122.23 | 71.75 | +2.20 | KO ahead |
| 2026-09-30 | 122.20 | 72.39 | +2.15 | KO ahead |
| 2026-09-29 | 123.28 | 73.51 | +2.12 | KO ahead |
| 2026-09-28 | 123.76 | 73.40 | +2.20 | KO ahead |
| 2026-09-25 | 124.66 | 73.48 | +2.28 | KO ahead |
| 2026-09-24 | 125.07 | 73.20 | +2.38 | KO ahead |
| 2026-09-23 | 125.06 | 74.36 | +2.27 | KO ahead |
| 2026-09-22 | 125.80 | 74.94 | +2.29 | KO ahead |
| 2026-09-21 | 123.68 | 74.03 | +2.28 | KO ahead |
| 2026-09-18 | 125.28 | 74.12 | +2.42 | KO ahead |
| 2026-09-17 | 125.01 | 76.35 | +2.16 | KO ahead |
| 2026-09-16 | 124.74 | 76.74 | +2.12 | KO ahead |
| 2026-09-15 | 125.94 | 77.40 | +2.16 | KO ahead |
| 2026-09-14 | 126.85 | 77.88 | +2.20 | KO ahead |
| 2026-09-11 | 125.34 | 77.87 | +2.12 | KO ahead |
| 2026-09-10 | 124.69 | 78.06 | +2.07 | KO ahead |
| 2026-09-09 | 124.29 | 78.08 | +2.06 | KO ahead |
| 2026-09-08 | 125.44 | 79.09 | +2.06 | KO ahead |
| 2026-09-04 | 125.03 | 78.62 | +2.11 | KO ahead |
| 2026-09-03 | 126.08 | 79.98 | +2.05 | KO ahead |
| 2026-09-02 | 125.27 | 80.27 | +1.97 | KO ahead |
| 2026-09-01 | 124.93 | 79.85 | +2.02 | KO ahead |
| 2026-08-31 | 125.88 | 80.17 | +2.08 | KO ahead |
| 2026-08-28 | 127.29 | 80.58 | +2.17 | KO ahead |
| 2026-08-27 | 126.43 | 79.81 | +2.23 | KO ahead |
| 2026-08-26 | 127.88 | 81.22 | +2.20 | KO ahead |
| 2026-08-25 | 130.10 | 81.27 | +2.40 | KO ahead |
| 2026-08-24 | 130.59 | 82.64 | +2.30 | KO ahead |
| 2026-08-21 | 129.33 | 81.96 | +2.32 | KO ahead |
| 2026-08-20 | 128.48 | 81.16 | +2.39 | KO ahead |
| 2026-08-19 | 128.27 | 81.45 | +2.37 | KO ahead |
| 2026-08-18 | 126.09 | 80.05 | +2.41 | KO ahead |
| 2026-08-17 | 123.48 | 78.97 | +2.37 | KO ahead |
| 2026-08-14 | 124.52 | 80.42 | +2.29 | KO ahead |
| 2026-08-13 | 124.11 | 80.33 | +2.30 | KO ahead |
| 2026-08-12 | 123.10 | 79.23 | +2.40 | KO ahead |
| 2026-08-11 | 122.77 | 79.06 | +2.43 | KO ahead |
| 2026-08-10 | 123.32 | 78.68 | +2.58 | KO ahead |
| 2026-08-07 | 123.58 | 79.41 | +2.55 | KO ahead |
| 2026-08-06 | 123.30 | 79.08 | +2.61 | KO ahead |
| 2026-08-05 | 123.27 | 79.28 | +2.63 | KO ahead |
| 2026-08-04 | 122.88 | 79.46 | +2.61 | KO ahead |
| 2026-08-03 | 123.31 | 79.76 | +2.65 | KO ahead |
| 2026-07-31 | 124.35 | 79.72 | +2.81 | KO ahead |
| 2026-07-30 | 125.62 | 80.09 | +2.94 | KO ahead |
| 2026-07-29 | 126.46 | 81.97 | +2.79 | KO ahead |
| 2026-07-28 | 125.31 | 81.61 | +2.78 | KO ahead |
| 2026-07-27 | 119.35 | 79.85 | +2.48 | KO ahead |
| 2026-07-24 | 116.77 | 78.05 | +2.53 | KO ahead |
| 2026-07-23 | 115.23 | 77.09 | +2.56 | KO ahead |
| 2026-07-22 | 116.70 | 77.49 | +2.71 | KO ahead |
| 2026-07-21 | 116.37 | 77.12 | +2.79 | KO ahead |
| 2026-07-20 | 116.58 | 77.38 | +2.83 | KO ahead |
| 2026-07-17 | 115.79 | 78.33 | +2.60 | KO ahead |
| 2026-07-16 | 120.56 | 79.65 | +2.99 | KO ahead |
| 2026-07-15 | 117.05 | 77.34 | +3.06 | KO ahead |
| 2026-07-14 | 117.94 | 77.37 | +3.23 | KO ahead |
| 2026-07-13 | 119.61 | 79.11 | +3.18 | KO ahead |
| 2026-07-10 | 118.53 | 78.48 | +3.24 | KO ahead |
| 2026-07-09 | 117.31 | 78.75 | +3.08 | KO ahead |
| 2026-07-08 | 118.40 | 81.41 | +2.75 | KO ahead |
| 2026-07-07 | 119.32 | 82.82 | +2.63 | KO ahead |
| 2026-07-06 | 117.77 | 81.85 | +2.65 | KO ahead |
| 2026-07-02 | 119.45 | 82.38 | +2.82 | KO ahead |
| 2026-07-01 | 115.40 | 80.64 | +2.63 | KO ahead |
| 2026-06-30 | 115.37 | 77.34 | +3.39 | KO ahead |
| 2026-06-29 | 117.33 | 79.22 | +3.33 | KO ahead |
| 2026-06-26 | 117.31 | 80.77 | +3.03 | KO ahead |
| 2026-06-25 | 114.17 | 79.70 | +2.83 | KO ahead |
| 2026-06-24 | 114.42 | 81.27 | +2.54 | KO ahead |
| 2026-06-23 | 114.01 | 81.14 | +2.53 | KO ahead |
| 2026-06-22 | 112.90 | 80.38 | +2.55 | KO ahead |
| 2026-06-18 | 112.71 | 81.13 | +2.36 | KO ahead |
| 2026-06-17 | 113.47 | 80.88 | +2.57 | KO ahead |
| 2026-06-16 | 113.97 | 83.47 | +2.07 | KO ahead |
| 2026-06-15 | 114.86 | 83.54 | +2.21 | KO ahead |
| 2026-06-12 | 117.29 | 82.41 | +2.86 | KO ahead |
| 2026-06-11 | 117.16 | 82.10 | +2.94 | KO ahead |
| 2026-06-10 | 118.67 | 82.44 | +3.14 | KO ahead |
| 2026-06-09 | 115.47 | 81.56 | +2.85 | KO ahead |
| 2026-06-08 | 112.92 | 80.36 | +2.73 | KO ahead |
| 2026-06-05 | 112.83 | 81.07 | +2.56 | KO ahead |
| 2026-06-04 | 109.06 | 81.20 | +1.87 | KO ahead |
| 2026-06-03 | 111.81 | 81.42 | +2.30 | KO ahead |
| 2026-06-02 | 111.31 | 81.12 | +2.29 | KO ahead |
| 2026-06-01 | 111.64 | 80.84 | +2.43 | KO ahead |
| 2026-05-29 | 112.17 | 82.37 | +2.16 | KO ahead |
| 2026-05-28 | 114.15 | 83.57 | +2.22 | KO ahead |
| 2026-05-27 | 115.87 | 84.39 | +2.32 | KO ahead |
| 2026-05-26 | 114.22 | 83.22 | +2.32 | KO ahead |
| 2026-05-22 | 115.67 | 86.01 | +1.91 | KO ahead |
| 2026-05-21 | 115.23 | 85.03 | +2.06 | KO ahead |
| 2026-05-20 | 115.77 | 85.28 | +2.10 | KO ahead |
| 2026-05-19 | 116.30 | 85.90 | +2.04 | KO ahead |
| 2026-05-18 | 115.28 | 85.15 | +2.04 | KO ahead |
| 2026-05-15 | 114.74 | 85.18 | +1.95 | KO ahead |
| 2026-05-14 | 114.21 | 84.93 | +1.92 | KO ahead |
| 2026-05-13 | 113.94 | 85.27 | +1.80 | KO ahead |
| 2026-05-12 | 113.61 | 86.74 | +1.41 | KO ahead |
| 2026-05-11 | 111.67 | 85.35 | +1.38 | KO ahead |
| 2026-05-08 | 111.33 | 88.32 | +0.64 | KO ahead |
| 2026-05-07 | 111.34 | 89.28 | +0.43 | near the usual relationship |
| 2026-05-06 | 112.48 | 89.09 | +0.65 | KO ahead |
| 2026-05-05 | 111.41 | 88.56 | +0.58 | KO ahead |
| 2026-05-04 | 111.00 | 88.31 | +0.55 | KO ahead |
| 2026-05-01 | 111.56 | 89.92 | +0.30 | near the usual relationship |
| 2026-04-30 | 111.81 | 90.53 | +0.21 | near the usual relationship |
| 2026-04-29 | 111.97 | 88.71 | +0.61 | KO ahead |
| 2026-04-28 | 111.23 | 89.28 | +0.36 | near the usual relationship |
| 2026-04-27 | 107.10 | 88.03 | -0.08 | near the usual relationship |
| 2026-04-24 | 108.79 | 88.79 | +0.04 | near the usual relationship |
| 2026-04-23 | 108.29 | 88.94 | -0.08 | near the usual relationship |
| 2026-04-22 | 105.95 | 87.85 | -0.26 | near the usual relationship |
| 2026-04-21 | 106.05 | 88.50 | -0.38 | near the usual relationship |
| 2026-04-20 | 107.16 | 89.68 | -0.43 | near the usual relationship |
| 2026-04-17 | 107.52 | 90.07 | -0.45 | near the usual relationship |
| 2026-04-16 | 106.73 | 90.47 | -0.67 | PEP ahead |
| 2026-04-15 | 106.91 | 88.46 | -0.23 | near the usual relationship |
| 2026-04-14 | 107.75 | 88.95 | -0.19 | near the usual relationship |
| 2026-04-13 | 108.48 | 89.04 | -0.09 | near the usual relationship |
| 2026-04-10 | 109.98 | 89.72 | +0.03 | near the usual relationship |
| 2026-04-09 | 110.99 | 89.96 | +0.15 | near the usual relationship |
| 2026-04-08 | 109.72 | 88.43 | +0.26 | near the usual relationship |
| 2026-04-07 | 107.77 | 87.52 | +0.12 | near the usual relationship |
| 2026-04-06 | 109.63 | 89.53 | +0.02 | near the usual relationship |
| 2026-04-02 | 108.92 | 89.69 | -0.13 | near the usual relationship |
| 2026-04-01 | 108.01 | 88.34 | -0.01 | near the usual relationship |
| 2026-03-31 | 107.96 | 88.71 | -0.09 | near the usual relationship |
| 2026-03-30 | 108.28 | 89.58 | -0.21 | near the usual relationship |
| 2026-03-27 | 107.48 | 87.42 | +0.10 | near the usual relationship |
| 2026-03-26 | 106.03 | 86.16 | +0.12 | near the usual relationship |
| 2026-03-25 | 106.83 | 86.67 | +0.15 | near the usual relationship |
| 2026-03-24 | 106.01 | 86.02 | +0.15 | near the usual relationship |
| 2026-03-23 | 106.63 | 86.19 | +0.23 | near the usual relationship |
| 2026-03-20 | 106.12 | 85.71 | +0.25 | near the usual relationship |
| 2026-03-19 | 107.25 | 87.25 | +0.12 | near the usual relationship |
| 2026-03-18 | 107.85 | 87.71 | +0.13 | near the usual relationship |
| 2026-03-17 | 110.14 | 89.40 | +0.17 | near the usual relationship |
| 2026-03-16 | 110.48 | 90.09 | +0.09 | near the usual relationship |
| 2026-03-13 | 109.80 | 91.33 | -0.26 | near the usual relationship |
| 2026-03-12 | 110.18 | 90.75 | -0.08 | near the usual relationship |
| 2026-03-11 | 110.21 | 91.48 | -0.22 | near the usual relationship |
| 2026-03-10 | 110.56 | 91.84 | -0.23 | near the usual relationship |
| 2026-03-09 | 110.45 | 92.27 | -0.32 | near the usual relationship |
| 2026-03-06 | 109.37 | 91.07 | -0.26 | near the usual relationship |
| 2026-03-05 | 109.36 | 91.80 | -0.40 | near the usual relationship |
| 2026-03-04 | 110.87 | 93.64 | -0.50 | PEP ahead |
| 2026-03-03 | 112.63 | 94.20 | -0.33 | near the usual relationship |
| 2026-03-02 | 113.88 | 95.56 | -0.38 | near the usual relationship |
| 2026-02-27 | 115.79 | 96.96 | -0.34 | near the usual relationship |
| 2026-02-26 | 114.28 | 95.73 | -0.34 | near the usual relationship |
| 2026-02-25 | 114.24 | 96.64 | -0.51 | PEP ahead |
| 2026-02-24 | 114.59 | 96.85 | -0.49 | near the usual relationship |
| 2026-02-23 | 114.37 | 96.15 | -0.40 | near the usual relationship |
| 2026-02-20 | 113.34 | 94.22 | -0.20 | near the usual relationship |
| 2026-02-19 | 112.02 | 94.02 | -0.37 | near the usual relationship |
| 2026-02-18 | 112.85 | 93.90 | -0.22 | near the usual relationship |
| 2026-02-17 | 112.95 | 92.49 | +0.06 | near the usual relationship |
| 2026-02-13 | 111.70 | 94.79 | -0.56 | PEP ahead |
| 2026-02-12 | 112.15 | 95.51 | -0.62 | PEP ahead |
| 2026-02-11 | 111.58 | 96.62 | -0.90 | PEP ahead |
| 2026-02-10 | 109.04 | 95.38 | -1.07 | PEP ahead |
| 2026-02-09 | 110.69 | 95.09 | -0.75 | PEP ahead |
| 2026-02-06 | 112.19 | 97.39 | -0.92 | PEP ahead |
| 2026-02-05 | 111.46 | 95.70 | -0.72 | PEP ahead |
| 2026-02-04 | 109.81 | 94.93 | -0.82 | PEP ahead |
| 2026-02-03 | 109.16 | 93.03 | -0.57 | PEP ahead |
| 2026-02-02 | 106.94 | 88.66 | -0.10 | near the usual relationship |
| 2026-01-30 | 106.20 | 87.76 | -0.04 | near the usual relationship |
| 2026-01-29 | 104.24 | 84.94 | +0.20 | near the usual relationship |
| 2026-01-28 | 103.72 | 84.83 | +0.14 | near the usual relationship |
| 2026-01-27 | 104.42 | 84.99 | +0.23 | near the usual relationship |
| 2026-01-26 | 103.01 | 83.33 | +0.33 | near the usual relationship |
| 2026-01-23 | 103.46 | 82.59 | +0.54 | KO ahead |
| 2026-01-22 | 102.03 | 82.49 | +0.35 | near the usual relationship |
| 2026-01-21 | 102.23 | 83.82 | +0.15 | near the usual relationship |
| 2026-01-20 | 101.86 | 84.35 | +0.01 | near the usual relationship |
| 2026-01-16 | 100.00 | 83.58 | -0.12 | near the usual relationship |
| 2026-01-15 | 100.06 | 83.73 | -0.13 | near the usual relationship |
| 2026-01-14 | 101.42 | 83.35 | +0.14 | near the usual relationship |
| 2026-01-13 | 101.14 | 81.96 | +0.35 | near the usual relationship |
| 2026-01-12 | 100.09 | 80.75 | +0.42 | near the usual relationship |
| 2026-01-09 | 100.10 | 79.92 | +0.58 | KO ahead |
| 2026-01-08 | 98.48 | 79.61 | +0.41 | near the usual relationship |
| 2026-01-07 | 95.88 | 78.26 | +0.28 | near the usual relationship |
| 2026-01-06 | 96.31 | 79.38 | +0.15 | near the usual relationship |
| 2026-01-05 | 96.45 | 79.93 | +0.09 | near the usual relationship |
| 2026-01-02 | 98.13 | 81.25 | +0.11 | near the usual relationship |
| 2025-12-31 | 99.25 | 81.98 | +0.14 | near the usual relationship |
| 2025-12-30 | 99.47 | 82.35 | +0.12 | near the usual relationship |
| 2025-12-29 | 99.60 | 82.39 | +0.14 | near the usual relationship |
| 2025-12-26 | 99.19 | 82.13 | +0.14 | near the usual relationship |
| 2025-12-24 | 99.53 | 82.11 | +0.19 | near the usual relationship |
| 2025-12-23 | 99.19 | 82.07 | +0.16 | near the usual relationship |
| 2025-12-22 | 99.67 | 84.00 | -0.07 | near the usual relationship |
| 2025-12-19 | 99.46 | 84.63 | -0.18 | near the usual relationship |
| 2025-12-18 | 99.89 | 85.33 | -0.22 | near the usual relationship |
| 2025-12-17 | 100.33 | 85.73 | -0.21 | near the usual relationship |
| 2025-12-16 | 99.90 | 85.90 | -0.28 | near the usual relationship |
| 2025-12-15 | 100.75 | 86.38 | -0.23 | near the usual relationship |
| 2025-12-12 | 100.11 | 86.06 | -0.25 | near the usual relationship |
| 2025-12-11 | 98.11 | 85.14 | -0.35 | near the usual relationship |
| 2025-12-10 | 99.67 | 85.51 | -0.21 | near the usual relationship |
| 2025-12-09 | 99.50 | 82.62 | +0.18 | near the usual relationship |
| 2025-12-08 | 99.73 | 83.19 | +0.14 | near the usual relationship |
| 2025-12-05 | 99.38 | 82.84 | +0.15 | near the usual relationship |
| 2025-12-04 | 100.01 | 83.92 | +0.09 | near the usual relationship |
| 2025-12-03 | 100.53 | 84.58 | +0.06 | near the usual relationship |
| 2025-12-02 | 100.33 | 84.89 | +0.01 | near the usual relationship |
| 2025-12-01 | 102.14 | 85.41 | +0.15 | near the usual relationship |
| 2025-11-28 | 103.80 | 84.97 | +0.39 | near the usual relationship |
| 2025-11-26 | 103.46 | 84.53 | +0.41 | near the usual relationship |
| 2025-11-25 | 103.08 | 83.46 | +0.52 | KO ahead |
| 2025-11-24 | 103.05 | 83.11 | +0.57 | KO ahead |
| 2025-11-21 | 103.56 | 83.59 | +0.56 | KO ahead |
| 2025-11-20 | 101.09 | 83.46 | +0.33 | near the usual relationship |
| 2025-11-19 | 100.95 | 84.03 | +0.25 | near the usual relationship |
| 2025-11-18 | 101.11 | 84.98 | +0.16 | near the usual relationship |
| 2025-11-17 | 100.34 | 84.45 | +0.15 | near the usual relationship |
| 2025-11-14 | 101.02 | 83.31 | +0.37 | near the usual relationship |
| 2025-11-13 | 100.89 | 82.84 | +0.42 | near the usual relationship |
| 2025-11-12 | 101.52 | 82.48 | +0.53 | KO ahead |
| 2025-11-11 | 101.66 | 82.87 | +0.50 | KO ahead |
| 2025-11-10 | 100.11 | 81.47 | +0.53 | KO ahead |
| 2025-11-07 | 100.16 | 81.66 | +0.51 | KO ahead |
| 2025-11-06 | 98.04 | 80.88 | +0.41 | near the usual relationship |
| 2025-11-05 | 97.26 | 81.61 | +0.25 | near the usual relationship |
| 2025-11-04 | 97.47 | 81.63 | +0.27 | near the usual relationship |
| 2025-11-03 | 96.49 | 82.03 | +0.13 | near the usual relationship |
| 2025-10-31 | 97.81 | 83.45 | +0.10 | near the usual relationship |
| 2025-10-30 | 97.93 | 84.29 | +0.03 | near the usual relationship |
| 2025-10-29 | 97.03 | 83.49 | +0.04 | near the usual relationship |
| 2025-10-28 | 99.60 | 85.75 | +0.04 | near the usual relationship |
| 2025-10-27 | 99.46 | 87.19 | -0.13 | near the usual relationship |
| 2025-10-24 | 98.96 | 86.57 | -0.10 | near the usual relationship |
| 2025-10-23 | 99.29 | 86.55 | -0.06 | near the usual relationship |
| 2025-10-22 | 100.53 | 87.42 | -0.03 | near the usual relationship |
| 2025-10-21 | 101.11 | 87.50 | +0.02 | near the usual relationship |
| 2025-10-20 | 97.16 | 87.76 | -0.37 | near the usual relationship |
| 2025-10-17 | 97.16 | 87.80 | -0.37 | near the usual relationship |
| 2025-10-16 | 95.95 | 87.21 | -0.42 | near the usual relationship |
| 2025-10-15 | 95.23 | 86.35 | -0.39 | near the usual relationship |
| 2025-10-14 | 95.84 | 86.56 | -0.35 | near the usual relationship |
| 2025-10-13 | 94.83 | 85.05 | -0.28 | near the usual relationship |
| 2025-10-10 | 95.17 | 85.73 | -0.32 | near the usual relationship |
| 2025-10-09 | 94.22 | 82.66 | -0.08 | near the usual relationship |
| 2025-10-08 | 93.87 | 79.31 | +0.26 | near the usual relationship |
| 2025-10-07 | 94.82 | 80.42 | +0.23 | near the usual relationship |
| 2025-10-06 | 93.84 | 79.80 | +0.21 | near the usual relationship |
| 2025-10-03 | 94.62 | 81.10 | +0.15 | near the usual relationship |
| 2025-10-02 | 93.84 | 81.29 | +0.06 | near the usual relationship |
| 2025-10-01 | 94.80 | 81.77 | +0.10 | near the usual relationship |
| 2025-09-30 | 94.15 | 80.22 | +0.21 | near the usual relationship |
| 2025-09-29 | 93.75 | 80.07 | +0.19 | near the usual relationship |
| 2025-09-26 | 93.23 | 80.22 | +0.13 | near the usual relationship |
| 2025-09-25 | 93.67 | 79.93 | +0.21 | near the usual relationship |
| 2025-09-24 | 94.34 | 81.21 | +0.13 | near the usual relationship |
| 2025-09-23 | 94.70 | 81.06 | +0.19 | near the usual relationship |
| 2025-09-22 | 93.99 | 80.56 | +0.18 | near the usual relationship |
| 2025-09-19 | 94.31 | 80.98 | +0.17 | near the usual relationship |
| 2025-09-18 | 94.35 | 80.39 | +0.24 | near the usual relationship |
| 2025-09-17 | 95.17 | 80.68 | +0.29 | near the usual relationship |
| 2025-09-16 | 94.04 | 79.99 | +0.27 | near the usual relationship |
| 2025-09-15 | 93.99 | 80.34 | +0.23 | near the usual relationship |
| 2025-09-12 | 95.13 | 81.99 | +0.16 | near the usual relationship |
| 2025-09-11 | 96.00 | 82.39 | +0.21 | near the usual relationship |
| 2025-09-10 | 96.28 | 81.49 | +0.33 | near the usual relationship |
| 2025-09-09 | 96.34 | 81.74 | +0.31 | near the usual relationship |
| 2025-09-08 | 95.73 | 80.95 | +0.35 | near the usual relationship |
| 2025-09-05 | 96.48 | 83.62 | +0.14 | near the usual relationship |
| 2025-09-04 | 96.89 | 83.91 | +0.15 | near the usual relationship |
| 2025-09-03 | 97.94 | 84.91 | +0.15 | near the usual relationship |
| 2025-09-02 | 98.04 | 85.84 | +0.06 | near the usual relationship |
| 2025-08-29 | 97.94 | 84.91 | +0.15 | near the usual relationship |
| 2025-08-28 | 97.05 | 83.96 | +0.17 | near the usual relationship |
| 2025-08-27 | 97.71 | 84.34 | +0.20 | near the usual relationship |
| 2025-08-26 | 97.57 | 83.97 | +0.23 | near the usual relationship |
| 2025-08-25 | 97.86 | 84.66 | +0.19 | near the usual relationship |
| 2025-08-22 | 99.56 | 85.48 | +0.26 | near the usual relationship |
| 2025-08-21 | 100.31 | 85.10 | +0.37 | near the usual relationship |
| 2025-08-20 | 100.37 | 86.10 | +0.28 | near the usual relationship |
| 2025-08-19 | 99.56 | 86.92 | +0.13 | near the usual relationship |
| 2025-08-18 | 98.14 | 85.43 | +0.16 | near the usual relationship |
| 2025-08-15 | 99.26 | 85.91 | +0.22 | near the usual relationship |
| 2025-08-14 | 98.74 | 84.90 | +0.28 | near the usual relationship |
| 2025-08-13 | 100.03 | 85.31 | +0.35 | near the usual relationship |
| 2025-08-12 | 100.38 | 83.90 | +0.52 | KO ahead |
| 2025-08-11 | 100.44 | 82.75 | +0.65 | KO ahead |
| 2025-08-08 | 99.86 | 82.95 | +0.58 | KO ahead |
| 2025-08-07 | 99.99 | 82.21 | +0.67 | KO ahead |
| 2025-08-06 | 98.68 | 80.43 | +0.75 | KO ahead |
| 2025-08-05 | 98.03 | 79.66 | +0.78 | KO ahead |
| 2025-08-04 | 97.90 | 79.72 | +0.77 | KO ahead |
| 2025-08-01 | 97.76 | 79.56 | +0.78 | KO ahead |
| 2025-07-31 | 96.38 | 78.78 | +0.76 | KO ahead |
| 2025-07-30 | 97.60 | 81.61 | +0.58 | KO ahead |
| 2025-07-29 | 98.50 | 82.19 | +0.60 | KO ahead |
| 2025-07-28 | 96.66 | 80.87 | +0.58 | KO ahead |
| 2025-07-25 | 98.20 | 81.94 | +0.61 | KO ahead |
| 2025-07-24 | 98.10 | 82.55 | +0.55 | KO ahead |
| 2025-07-23 | 98.18 | 83.21 | +0.50 | KO ahead |
| 2025-07-22 | 98.89 | 83.42 | +0.54 | KO ahead |
| 2025-07-21 | 99.47 | 80.94 | +0.84 | KO ahead |
| 2025-07-18 | 99.16 | 81.82 | +0.73 | KO ahead |
| 2025-07-17 | 100.21 | 83.08 | +0.70 | KO ahead |
| 2025-07-16 | 98.34 | 77.32 | +1.13 | KO ahead |
| 2025-07-15 | 98.47 | 76.44 | +1.24 | KO ahead |
| 2025-07-14 | 98.62 | 77.44 | +1.16 | KO ahead |
| 2025-07-11 | 99.19 | 77.26 | +1.24 | KO ahead |
| 2025-07-10 | 99.05 | 77.73 | +1.19 | KO ahead |
| 2025-07-09 | 98.64 | 76.82 | +1.26 | KO ahead |
| 2025-07-08 | 99.72 | 77.14 | +1.32 | KO ahead |
| 2025-07-07 | 100.81 | 76.80 | +1.46 | KO ahead |
| 2025-07-03 | 101.29 | 77.33 | +1.45 | KO ahead |
| 2025-07-02 | 100.67 | 77.96 | +1.35 | KO ahead |
| 2025-07-01 | 101.75 | 77.26 | +1.52 | KO ahead |
| 2025-06-30 | 100.44 | 75.43 | +1.63 | KO ahead |
| 2025-06-27 | 99.84 | 74.85 | +1.66 | KO ahead |
| 2025-06-26 | 98.62 | 73.24 | +1.75 | KO ahead |
| 2025-06-25 | 98.85 | 73.13 | +1.80 | KO ahead |
| 2025-06-24 | 99.67 | 74.86 | +1.69 | KO ahead |
| 2025-06-23 | 99.01 | 73.74 | +1.78 | KO ahead |
| 2025-06-20 | 97.73 | 73.73 | +1.69 | KO ahead |
| 2025-06-18 | 98.25 | 73.73 | +1.75 | KO ahead |
| 2025-06-17 | 98.84 | 73.85 | +1.81 | KO ahead |
| 2025-06-16 | 100.11 | 75.07 | +1.80 | KO ahead |
| 2025-06-13 | 100.82 | 74.75 | +1.91 | KO ahead |
| 2025-06-12 | 102.56 | 75.57 | +1.99 | KO ahead |
| 2025-06-11 | 102.31 | 74.20 | +2.15 | KO ahead |
| 2025-06-10 | 102.71 | 75.31 | +2.08 | KO ahead |
| 2025-06-09 | 101.89 | 74.24 | +2.16 | KO ahead |
| 2025-06-06 | 101.29 | 74.28 | +2.13 | KO ahead |
| 2025-06-05 | 100.67 | 74.89 | +2.03 | KO ahead |
| 2025-06-04 | 101.32 | 75.25 | +2.06 | KO ahead |
| 2025-06-03 | 101.02 | 75.32 | +2.05 | KO ahead |
| 2025-06-02 | 102.21 | 74.78 | +2.25 | KO ahead |
| 2025-05-30 | 102.36 | 75.09 | +2.25 | KO ahead |
| 2025-05-29 | 101.49 | 75.36 | +2.16 | KO ahead |
| 2025-05-28 | 101.01 | 74.64 | +2.23 | KO ahead |
| 2025-05-27 | 101.90 | 75.04 | +2.28 | KO ahead |
| 2025-05-23 | 101.89 | 73.88 | +2.45 | KO ahead |
| 2025-05-22 | 100.99 | 74.33 | +2.35 | KO ahead |
| 2025-05-21 | 102.00 | 74.35 | +2.46 | KO ahead |
| 2025-05-20 | 101.77 | 75.29 | +2.36 | KO ahead |
| 2025-05-19 | 102.12 | 75.28 | +2.42 | KO ahead |
| 2025-05-16 | 102.21 | 75.39 | +2.45 | KO ahead |
| 2025-05-15 | 101.66 | 75.12 | +2.46 | KO ahead |
| 2025-05-14 | 98.18 | 73.37 | +2.39 | KO ahead |
| 2025-05-13 | 97.90 | 74.44 | +2.25 | KO ahead |
| 2025-05-12 | 98.71 | 75.22 | +2.26 | KO ahead |
| 2025-05-09 | 100.11 | 74.51 | +2.52 | KO ahead |
| 2025-05-08 | 101.04 | 75.08 | +2.57 | KO ahead |
| 2025-05-07 | 102.78 | 75.35 | +2.74 | KO ahead |
| 2025-05-06 | 101.82 | 74.68 | +2.78 | KO ahead |
| 2025-05-05 | 101.79 | 75.40 | +2.73 | KO ahead |
| 2025-05-02 | 101.72 | 76.40 | +2.63 | KO ahead |
| 2025-05-01 | 101.21 | 76.29 | +2.63 | KO ahead |
| 2025-04-30 | 103.00 | 77.45 | +2.70 | KO ahead |
| 2025-04-29 | 102.71 | 76.72 | +2.81 | KO ahead |
| 2025-04-28 | 101.92 | 76.41 | +2.82 | KO ahead |
| 2025-04-25 | 102.09 | 76.19 | +2.92 | KO ahead |
| 2025-04-24 | 102.95 | 77.29 | +2.91 | KO ahead |
| 2025-04-23 | 104.06 | 81.26 | +2.52 | KO ahead |
| 2025-04-22 | 104.91 | 81.95 | +2.55 | KO ahead |
| 2025-04-21 | 103.31 | 80.96 | +2.55 | KO ahead |
| 2025-04-17 | 103.63 | 81.59 | +2.53 | KO ahead |
| 2025-04-16 | 101.76 | 80.02 | +2.58 | KO ahead |
| 2025-04-15 | 102.02 | 81.59 | +2.43 | KO ahead |
| 2025-04-14 | 102.85 | 83.83 | +2.24 | KO ahead |
| 2025-04-11 | 101.41 | 82.50 | +2.29 | KO ahead |
| 2025-04-10 | 100.45 | 82.34 | +2.23 | KO ahead |
| 2025-04-09 | 99.30 | 83.17 | +2.01 | KO ahead |
| 2025-04-08 | 97.13 | 80.14 | +2.21 | KO ahead |
| 2025-04-07 | 97.06 | 81.79 | +1.99 | KO ahead |
| 2025-04-04 | 99.28 | 83.75 | +2.00 | KO ahead |
| 2025-04-03 | 103.89 | 86.47 | +2.17 | KO ahead |
| 2025-04-02 | 101.26 | 85.18 | +2.07 | KO ahead |
| 2025-04-01 | 102.03 | 85.50 | +2.14 | KO ahead |
| 2025-03-31 | 101.68 | 85.65 | +2.11 | KO ahead |
| 2025-03-28 | 99.90 | 85.27 | +1.97 | KO ahead |
| 2025-03-27 | 100.43 | 85.50 | +2.02 | KO ahead |
| 2025-03-26 | 99.40 | 84.91 | +2.01 | KO ahead |
| 2025-03-25 | 97.69 | 83.14 | +2.07 | KO ahead |
| 2025-03-24 | 97.88 | 83.66 | +2.05 | KO ahead |
| 2025-03-21 | 97.49 | 83.09 | +2.10 | KO ahead |
| 2025-03-20 | 98.96 | 84.06 | +2.17 | KO ahead |
| 2025-03-19 | 98.35 | 84.61 | +2.04 | KO ahead |
| 2025-03-18 | 98.50 | 85.11 | +2.01 | KO ahead |
| 2025-03-17 | 99.55 | 86.45 | +1.97 | KO ahead |
| 2025-03-14 | 98.18 | 84.88 | +2.06 | KO ahead |
| 2025-03-13 | 98.84 | 84.74 | +2.19 | KO ahead |
| 2025-03-12 | 99.29 | 84.64 | +2.29 | KO ahead |
| 2025-03-11 | 100.85 | 87.02 | +2.17 | KO ahead |
| 2025-03-10 | 101.43 | 89.26 | +1.94 | KO ahead |
| 2025-03-07 | 101.41 | 88.22 | +2.11 | KO ahead |
| 2025-03-06 | 100.03 | 88.32 | +1.95 | KO ahead |
| 2025-03-05 | 99.49 | 87.90 | +1.96 | KO ahead |
| 2025-03-04 | 99.65 | 88.08 | +1.98 | KO ahead |
| 2025-03-03 | 102.67 | 89.11 | +2.25 | KO ahead |
| 2025-02-28 | 101.09 | 87.67 | +2.29 | KO ahead |
| 2025-02-27 | 100.61 | 86.84 | +2.39 | KO ahead |
| 2025-02-26 | 100.51 | 86.55 | +2.46 | KO ahead |
| 2025-02-25 | 101.49 | 89.35 | +2.19 | KO ahead |
| 2025-02-24 | 100.21 | 87.88 | +2.27 | KO ahead |
| 2025-02-21 | 101.29 | 87.68 | +2.49 | KO ahead |
| 2025-02-20 | 99.43 | 85.17 | +2.68 | KO ahead |
| 2025-02-19 | 99.47 | 83.29 | +3.06 | KO ahead |
| 2025-02-18 | 98.03 | 82.31 | +3.08 | KO ahead |
| 2025-02-14 | 97.77 | 81.91 | +3.18 | KO ahead |
| 2025-02-13 | 98.67 | 82.59 | +3.27 | KO ahead |
| 2025-02-12 | 97.54 | 82.25 | +3.23 | KO ahead |
| 2025-02-11 | 95.97 | 83.19 | +2.86 | KO ahead |
| 2025-02-10 | 91.64 | 82.46 | +2.32 | KO ahead |
| 2025-02-07 | 90.63 | 82.59 | +2.15 | KO ahead |
| 2025-02-06 | 89.95 | 83.03 | +1.97 | KO ahead |
| 2025-02-05 | 89.61 | 83.21 | +1.90 | KO ahead |
| 2025-02-04 | 88.97 | 81.97 | +2.05 | KO ahead |
| 2025-02-03 | 89.93 | 85.84 | +1.51 | KO ahead |
| 2025-01-31 | 90.12 | 86.08 | +1.51 | KO ahead |
| 2025-01-30 | 90.93 | 86.77 | +1.54 | KO ahead |
| 2025-01-29 | 89.20 | 85.90 | +1.41 | KO ahead |
| 2025-01-28 | 88.53 | 85.83 | +1.31 | KO ahead |
| 2025-01-27 | 90.67 | 88.32 | +1.25 | KO ahead |
| 2025-01-24 | 87.90 | 85.18 | +1.34 | KO ahead |
| 2025-01-23 | 87.35 | 84.90 | +1.31 | KO ahead |
| 2025-01-22 | 87.71 | 84.59 | +1.44 | KO ahead |
| 2025-01-21 | 88.61 | 84.86 | +1.57 | KO ahead |
| 2025-01-17 | 89.03 | 84.69 | +1.69 | KO ahead |
| 2025-01-16 | 88.37 | 83.71 | +1.78 | KO ahead |
| 2025-01-15 | 87.69 | 82.70 | +1.87 | KO ahead |
| 2025-01-14 | 88.07 | 82.80 | +1.94 | KO ahead |
| 2025-01-13 | 87.52 | 82.54 | +1.91 | KO ahead |
| 2025-01-10 | 86.70 | 81.48 | +1.99 | KO ahead |
| 2025-01-08 | 87.61 | 83.71 | +1.74 | KO ahead |
| 2025-01-07 | 86.37 | 83.06 | +1.65 | KO ahead |
| 2025-01-06 | 86.33 | 83.55 | +1.56 | KO ahead |
| 2025-01-03 | 87.66 | 85.48 | +1.44 | KO ahead |
| 2025-01-02 | 87.79 | 85.80 | +1.42 | KO ahead |
| 2024-12-31 | 88.39 | 86.86 | +1.34 | KO ahead |
| 2024-12-30 | 88.06 | 86.67 | +1.32 | KO ahead |
| 2024-12-27 | 88.66 | 87.34 | +1.32 | KO ahead |
| 2024-12-26 | 88.83 | 87.08 | +1.41 | KO ahead |
| 2024-12-24 | 89.21 | 87.29 | +1.45 | KO ahead |
| 2024-12-23 | 88.56 | 86.42 | +1.51 | KO ahead |
| 2024-12-20 | 88.80 | 87.28 | +1.40 | KO ahead |
| 2024-12-19 | 88.66 | 86.52 | +1.53 | KO ahead |
| 2024-12-18 | 89.22 | 88.22 | +1.33 | KO ahead |
| 2024-12-17 | 90.01 | 89.19 | +1.30 | KO ahead |
| 2024-12-16 | 88.80 | 89.12 | +1.10 | KO ahead |
| 2024-12-13 | 89.61 | 90.24 | +1.05 | KO ahead |
| 2024-12-12 | 90.63 | 90.77 | +1.15 | KO ahead |
| 2024-12-11 | 88.93 | 89.55 | +1.07 | KO ahead |
| 2024-12-10 | 89.31 | 91.31 | +0.83 | KO ahead |
| 2024-12-09 | 88.87 | 91.09 | +0.79 | KO ahead |
| 2024-12-06 | 88.77 | 90.13 | +0.95 | KO ahead |
| 2024-12-05 | 89.32 | 91.68 | +0.78 | KO ahead |
| 2024-12-04 | 88.32 | 91.50 | +0.63 | KO ahead |
| 2024-12-03 | 90.18 | 92.37 | +0.83 | KO ahead |
| 2024-12-02 | 90.36 | 93.14 | +0.73 | KO ahead |
| 2024-11-29 | 90.97 | 93.37 | +0.81 | KO ahead |
| 2024-11-27 | 91.47 | 92.95 | +0.98 | KO ahead |
| 2024-11-26 | 91.64 | 92.63 | +1.07 | KO ahead |
| 2024-11-25 | 91.40 | 93.14 | +0.95 | KO ahead |
| 2024-11-22 | 90.74 | 92.54 | +0.94 | KO ahead |
| 2024-11-21 | 90.52 | 91.59 | +1.08 | KO ahead |
| 2024-11-20 | 89.42 | 90.68 | +1.05 | KO ahead |
| 2024-11-19 | 88.86 | 89.52 | +1.17 | KO ahead |
| 2024-11-18 | 87.82 | 90.44 | +0.82 | KO ahead |
| 2024-11-15 | 87.65 | 90.61 | +0.76 | KO ahead |
| 2024-11-14 | 88.80 | 94.34 | +0.32 | near the usual relationship |
| 2024-11-13 | 89.44 | 94.10 | +0.48 | near the usual relationship |
| 2024-11-12 | 89.72 | 93.88 | +0.58 | KO ahead |
| 2024-11-11 | 89.95 | 93.83 | +0.64 | KO ahead |
| 2024-11-08 | 90.74 | 94.32 | +0.70 | KO ahead |
| 2024-11-07 | 90.37 | 93.68 | +0.75 | KO ahead |
| 2024-11-06 | 90.43 | 94.09 | +0.70 | KO ahead |
| 2024-11-05 | 92.80 | 95.88 | +0.81 | KO ahead |
| 2024-11-04 | 92.43 | 95.02 | +0.90 | KO ahead |
| 2024-11-01 | 92.29 | 94.59 | +0.96 | KO ahead |
| 2024-10-31 | 92.72 | 94.87 | +0.99 | KO ahead |
| 2024-10-30 | 93.58 | 94.94 | +1.13 | KO ahead |
| 2024-10-29 | 93.07 | 95.68 | +0.93 | KO ahead |
| 2024-10-28 | 94.65 | 97.02 | +0.99 | KO ahead |
| 2024-10-25 | 95.00 | 98.13 | +0.87 | KO ahead |
| 2024-10-24 | 95.54 | 98.34 | +0.93 | KO ahead |
| 2024-10-23 | 96.55 | 98.79 | +1.04 | KO ahead |
| 2024-10-22 | 98.59 | 99.61 | +1.25 | KO ahead |
| 2024-10-21 | 98.59 | 99.97 | +1.20 | KO ahead |
| 2024-10-18 | 100.00 | 100.00 | +1.43 | KO ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Feb 11, 2025 (KO +4.7%, PEP +0.9%); Jul 17, 2025 (KO +1.9%, PEP +7.5%). Upcoming earnings: KO Oct 27, 2026 (pre-market).
Paired trades
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)
1 simulated trade to Oct 20, 2026: +9.14% per trade on average after costs, 1 won.
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long PEP · Short KO | Mar 9, 2021 | Jul 20, 2021 | converged | 133 | $970.57 | -$43.89 | $914.47 (+9.14%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
KO and PEP at a glance
KO The Coca-Cola Company
- Listing
- NYSE · SEC CIK 21344
- Industry
- Beverages (Production/Distribution) · SIC 2080 Beverages
- Market value
- $401.9B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
PEP PepsiCo Inc.
- Listing
- Nasdaq · SEC CIK 77476
- Industry
- Beverages (Production/Distribution) · SIC 2080 Beverages
- Market value
- $182.0B
- 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.
Related
All pairs →Other rivals of KO and PEP
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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.
