The Coca-Cola Company vs PepsiCo Inc.
WatchlistKO / PEPReel example (Brando Le, 2026-10-12): Coca-Cola and Pepsi.Prices through Nov 10, 2026
Why these are rivals: #1 and #2 by market value ($408B vs $187B) in Nasdaq's "Beverages (Production/Distribution)" industry; SEC SIC 2080 / 2080 (same major group); #1 and #2 by market value ($408B vs $187B) 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.
- Mean reversion: ADF t-statistic of the spread: -0.00 (needs <= -2.873 (5% critical value))
- Speed: half-life of the spread, sessions: 3351.10 (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 $407.8B, PEP $187.1B.
Stock leadership
KO is ahead now
Measured against the pair's own last 252 trading days.
KO leads PEP by 1.49 standard deviations: +22.6% over its usual price ratio. 2 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| KO | +11.8% | +21.1% | +37.4% |
| PEP | +3.5% | -5.4% | +0.5% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2534 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.60 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -0.00 (needs <= -2.873 (5% critical value))
- Fail
- Speed: half-life of the spread, sessions: 3351.10 (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 = 2024-11-06. 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 |
|---|---|---|---|---|
| 2026-11-10 | 152.14 | 87.19 | +1.49 | KO ahead |
| 2026-11-09 | 150.75 | 86.14 | +1.52 | KO ahead |
| 2026-11-06 | 150.19 | 85.81 | +1.54 | KO ahead |
| 2026-11-05 | 150.28 | 86.64 | +1.49 | KO ahead |
| 2026-11-04 | 150.39 | 86.47 | +1.52 | KO ahead |
| 2026-11-03 | 148.82 | 83.34 | +1.73 | KO ahead |
| 2026-11-02 | 150.44 | 85.25 | +1.66 | KO ahead |
| 2026-10-30 | 147.69 | 83.38 | +1.70 | KO ahead |
| 2026-10-29 | 145.71 | 81.23 | +1.82 | KO ahead |
| 2026-10-28 | 144.00 | 80.52 | +1.81 | KO ahead |
| 2026-10-27 | 143.14 | 81.05 | +1.73 | KO ahead |
| 2026-10-26 | 145.53 | 82.24 | +1.77 | KO ahead |
| 2026-10-23 | 145.54 | 82.43 | +1.77 | KO ahead |
| 2026-10-22 | 149.67 | 84.29 | +1.83 | KO ahead |
| 2026-10-21 | 145.49 | 81.78 | +1.86 | KO ahead |
| 2026-10-20 | 146.77 | 81.37 | +1.99 | KO ahead |
| 2026-10-19 | 146.66 | 81.09 | +2.03 | KO ahead |
| 2026-10-16 | 147.41 | 79.83 | +2.21 | KO ahead |
| 2026-10-15 | 144.43 | 77.94 | +2.27 | KO ahead |
| 2026-10-14 | 144.08 | 78.48 | +2.23 | KO ahead |
| 2026-10-13 | 141.46 | 77.29 | +2.23 | KO ahead |
| 2026-10-12 | 140.96 | 76.91 | +2.27 | KO ahead |
| 2026-10-09 | 138.23 | 76.48 | +2.19 | KO ahead |
| 2026-10-08 | 137.79 | 77.92 | +2.04 | KO ahead |
| 2026-10-07 | 134.73 | 75.12 | +2.18 | KO ahead |
| 2026-10-06 | 135.27 | 76.32 | +2.11 | KO ahead |
| 2026-10-05 | 135.81 | 76.29 | +2.18 | KO ahead |
| 2026-10-02 | 134.46 | 76.43 | +2.11 | KO ahead |
| 2026-10-01 | 135.16 | 76.26 | +2.20 | KO ahead |
| 2026-09-30 | 135.13 | 76.94 | +2.15 | KO ahead |
| 2026-09-29 | 136.33 | 78.13 | +2.12 | KO ahead |
| 2026-09-28 | 136.86 | 78.02 | +2.20 | KO ahead |
| 2026-09-25 | 137.85 | 78.09 | +2.28 | KO ahead |
| 2026-09-24 | 138.30 | 77.80 | +2.38 | KO ahead |
| 2026-09-23 | 138.29 | 79.04 | +2.27 | KO ahead |
| 2026-09-22 | 139.11 | 79.65 | +2.29 | KO ahead |
| 2026-09-21 | 136.77 | 78.68 | +2.28 | KO ahead |
| 2026-09-18 | 138.54 | 78.77 | +2.42 | KO ahead |
| 2026-09-17 | 138.24 | 81.15 | +2.16 | KO ahead |
| 2026-09-16 | 137.94 | 81.56 | +2.12 | KO ahead |
| 2026-09-15 | 139.26 | 82.27 | +2.16 | KO ahead |
| 2026-09-14 | 140.27 | 82.78 | +2.20 | KO ahead |
| 2026-09-11 | 138.60 | 82.76 | +2.12 | KO ahead |
| 2026-09-10 | 137.88 | 82.96 | +2.07 | KO ahead |
| 2026-09-09 | 137.44 | 82.99 | +2.06 | KO ahead |
| 2026-09-08 | 138.71 | 84.06 | +2.06 | KO ahead |
| 2026-09-04 | 138.26 | 83.56 | +2.11 | KO ahead |
| 2026-09-03 | 139.42 | 85.01 | +2.05 | KO ahead |
| 2026-09-02 | 138.52 | 85.31 | +1.97 | KO ahead |
| 2026-09-01 | 138.15 | 84.87 | +2.02 | KO ahead |
| 2026-08-31 | 139.20 | 85.20 | +2.08 | KO ahead |
| 2026-08-28 | 140.75 | 85.65 | +2.17 | KO ahead |
| 2026-08-27 | 139.81 | 84.83 | +2.23 | KO ahead |
| 2026-08-26 | 141.41 | 86.33 | +2.20 | KO ahead |
| 2026-08-25 | 143.86 | 86.38 | +2.40 | KO ahead |
| 2026-08-24 | 144.41 | 87.83 | +2.30 | KO ahead |
| 2026-08-21 | 143.01 | 87.11 | +2.32 | KO ahead |
| 2026-08-20 | 142.07 | 86.26 | +2.39 | KO ahead |
| 2026-08-19 | 141.84 | 86.56 | +2.37 | KO ahead |
| 2026-08-18 | 139.43 | 85.08 | +2.41 | KO ahead |
| 2026-08-17 | 136.55 | 83.93 | +2.37 | KO ahead |
| 2026-08-14 | 137.69 | 85.48 | +2.29 | KO ahead |
| 2026-08-13 | 137.24 | 85.37 | +2.30 | KO ahead |
| 2026-08-12 | 136.12 | 84.21 | +2.40 | KO ahead |
| 2026-08-11 | 135.76 | 84.03 | +2.43 | KO ahead |
| 2026-08-10 | 136.37 | 83.62 | +2.58 | KO ahead |
| 2026-08-07 | 136.66 | 84.40 | +2.55 | KO ahead |
| 2026-08-06 | 136.34 | 84.05 | +2.61 | KO ahead |
| 2026-08-05 | 136.31 | 84.26 | +2.63 | KO ahead |
| 2026-08-04 | 135.89 | 84.45 | +2.61 | KO ahead |
| 2026-08-03 | 136.36 | 84.77 | +2.65 | KO ahead |
| 2026-07-31 | 137.50 | 84.73 | +2.81 | KO ahead |
| 2026-07-30 | 138.92 | 85.12 | +2.94 | KO ahead |
| 2026-07-29 | 139.84 | 87.12 | +2.79 | KO ahead |
| 2026-07-28 | 138.57 | 86.73 | +2.78 | KO ahead |
| 2026-07-27 | 131.98 | 84.87 | +2.48 | KO ahead |
| 2026-07-24 | 129.12 | 82.96 | +2.53 | KO ahead |
| 2026-07-23 | 127.43 | 81.93 | +2.56 | KO ahead |
| 2026-07-22 | 129.04 | 82.36 | +2.71 | KO ahead |
| 2026-07-21 | 128.68 | 81.96 | +2.79 | KO ahead |
| 2026-07-20 | 128.92 | 82.24 | +2.83 | KO ahead |
| 2026-07-17 | 128.04 | 83.25 | +2.60 | KO ahead |
| 2026-07-16 | 133.31 | 84.65 | +2.99 | KO ahead |
| 2026-07-15 | 129.43 | 82.21 | +3.06 | KO ahead |
| 2026-07-14 | 130.42 | 82.24 | +3.23 | KO ahead |
| 2026-07-13 | 132.26 | 84.08 | +3.18 | KO ahead |
| 2026-07-10 | 131.07 | 83.41 | +3.24 | KO ahead |
| 2026-07-09 | 129.72 | 83.70 | +3.08 | KO ahead |
| 2026-07-08 | 130.93 | 86.52 | +2.75 | KO ahead |
| 2026-07-07 | 131.95 | 88.02 | +2.63 | KO ahead |
| 2026-07-06 | 130.24 | 87.00 | +2.65 | KO ahead |
| 2026-07-02 | 132.09 | 87.56 | +2.82 | KO ahead |
| 2026-07-01 | 127.61 | 85.70 | +2.63 | KO ahead |
| 2026-06-30 | 127.58 | 82.21 | +3.39 | KO ahead |
| 2026-06-29 | 129.75 | 84.20 | +3.33 | KO ahead |
| 2026-06-26 | 129.72 | 85.84 | +3.03 | KO ahead |
| 2026-06-25 | 126.25 | 84.71 | +2.83 | KO ahead |
| 2026-06-24 | 126.53 | 86.38 | +2.54 | KO ahead |
| 2026-06-23 | 126.08 | 86.24 | +2.53 | KO ahead |
| 2026-06-22 | 124.85 | 85.43 | +2.55 | KO ahead |
| 2026-06-18 | 124.63 | 86.22 | +2.36 | KO ahead |
| 2026-06-17 | 125.48 | 85.96 | +2.57 | KO ahead |
| 2026-06-16 | 126.03 | 88.71 | +2.07 | KO ahead |
| 2026-06-15 | 127.02 | 88.79 | +2.21 | KO ahead |
| 2026-06-12 | 129.70 | 87.59 | +2.86 | KO ahead |
| 2026-06-11 | 129.56 | 87.26 | +2.94 | KO ahead |
| 2026-06-10 | 131.22 | 87.62 | +3.14 | KO ahead |
| 2026-06-09 | 127.69 | 86.69 | +2.85 | KO ahead |
| 2026-06-08 | 124.87 | 85.41 | +2.73 | KO ahead |
| 2026-06-05 | 124.77 | 86.16 | +2.56 | KO ahead |
| 2026-06-04 | 120.60 | 86.30 | +1.87 | KO ahead |
| 2026-06-03 | 123.64 | 86.54 | +2.30 | KO ahead |
| 2026-06-02 | 123.09 | 86.21 | +2.29 | KO ahead |
| 2026-06-01 | 123.45 | 85.92 | +2.43 | KO ahead |
| 2026-05-29 | 124.03 | 87.54 | +2.16 | KO ahead |
| 2026-05-28 | 126.23 | 88.82 | +2.22 | KO ahead |
| 2026-05-27 | 128.13 | 89.70 | +2.32 | KO ahead |
| 2026-05-26 | 126.31 | 88.45 | +2.32 | KO ahead |
| 2026-05-22 | 127.91 | 91.42 | +1.91 | KO ahead |
| 2026-05-21 | 127.43 | 90.37 | +2.06 | KO ahead |
| 2026-05-20 | 128.02 | 90.64 | +2.10 | KO ahead |
| 2026-05-19 | 128.60 | 91.29 | +2.04 | KO ahead |
| 2026-05-18 | 127.47 | 90.50 | +2.04 | KO ahead |
| 2026-05-15 | 126.88 | 90.53 | +1.95 | KO ahead |
| 2026-05-14 | 126.30 | 90.26 | +1.92 | KO ahead |
| 2026-05-13 | 126.00 | 90.63 | +1.80 | KO ahead |
| 2026-05-12 | 125.64 | 92.19 | +1.41 | KO ahead |
| 2026-05-11 | 123.49 | 90.71 | +1.38 | KO ahead |
| 2026-05-08 | 123.11 | 93.87 | +0.64 | KO ahead |
| 2026-05-07 | 123.12 | 94.89 | +0.43 | near the usual relationship |
| 2026-05-06 | 124.38 | 94.69 | +0.65 | KO ahead |
| 2026-05-05 | 123.20 | 94.13 | +0.58 | KO ahead |
| 2026-05-04 | 122.75 | 93.86 | +0.55 | KO ahead |
| 2026-05-01 | 123.36 | 95.57 | +0.30 | near the usual relationship |
| 2026-04-30 | 123.64 | 96.22 | +0.21 | near the usual relationship |
| 2026-04-29 | 123.81 | 94.28 | +0.61 | KO ahead |
| 2026-04-28 | 123.00 | 94.89 | +0.36 | near the usual relationship |
| 2026-04-27 | 118.43 | 93.56 | -0.08 | near the usual relationship |
| 2026-04-24 | 120.30 | 94.37 | +0.04 | near the usual relationship |
| 2026-04-23 | 119.75 | 94.53 | -0.08 | near the usual relationship |
| 2026-04-22 | 117.16 | 93.37 | -0.26 | near the usual relationship |
| 2026-04-21 | 117.27 | 94.06 | -0.38 | near the usual relationship |
| 2026-04-20 | 118.49 | 95.31 | -0.43 | near the usual relationship |
| 2026-04-17 | 118.90 | 95.73 | -0.45 | near the usual relationship |
| 2026-04-16 | 118.02 | 96.16 | -0.67 | PEP ahead |
| 2026-04-15 | 118.23 | 94.01 | -0.23 | near the usual relationship |
| 2026-04-14 | 119.15 | 94.54 | -0.19 | near the usual relationship |
| 2026-04-13 | 119.95 | 94.64 | -0.09 | near the usual relationship |
| 2026-04-10 | 121.62 | 95.36 | +0.03 | near the usual relationship |
| 2026-04-09 | 122.73 | 95.62 | +0.15 | near the usual relationship |
| 2026-04-08 | 121.33 | 93.98 | +0.26 | near the usual relationship |
| 2026-04-07 | 119.17 | 93.02 | +0.12 | near the usual relationship |
| 2026-04-06 | 121.22 | 95.16 | +0.02 | near the usual relationship |
| 2026-04-02 | 120.44 | 95.33 | -0.13 | near the usual relationship |
| 2026-04-01 | 119.43 | 93.89 | -0.01 | near the usual relationship |
| 2026-03-31 | 119.39 | 94.28 | -0.09 | near the usual relationship |
| 2026-03-30 | 119.73 | 95.21 | -0.21 | near the usual relationship |
| 2026-03-27 | 118.85 | 92.91 | +0.10 | near the usual relationship |
| 2026-03-26 | 117.25 | 91.57 | +0.12 | near the usual relationship |
| 2026-03-25 | 118.13 | 92.12 | +0.15 | near the usual relationship |
| 2026-03-24 | 117.22 | 91.43 | +0.15 | near the usual relationship |
| 2026-03-23 | 117.91 | 91.60 | +0.23 | near the usual relationship |
| 2026-03-20 | 117.35 | 91.09 | +0.25 | near the usual relationship |
| 2026-03-19 | 118.60 | 92.73 | +0.12 | near the usual relationship |
| 2026-03-18 | 119.26 | 93.22 | +0.13 | near the usual relationship |
| 2026-03-17 | 121.79 | 95.02 | +0.17 | near the usual relationship |
| 2026-03-16 | 122.17 | 95.76 | +0.09 | near the usual relationship |
| 2026-03-13 | 121.41 | 97.07 | -0.26 | near the usual relationship |
| 2026-03-12 | 121.84 | 96.45 | -0.08 | near the usual relationship |
| 2026-03-11 | 121.87 | 97.23 | -0.22 | near the usual relationship |
| 2026-03-10 | 122.26 | 97.61 | -0.23 | near the usual relationship |
| 2026-03-09 | 122.14 | 98.07 | -0.32 | near the usual relationship |
| 2026-03-06 | 120.94 | 96.79 | -0.26 | near the usual relationship |
| 2026-03-05 | 120.93 | 97.57 | -0.40 | near the usual relationship |
| 2026-03-04 | 122.61 | 99.52 | -0.50 | PEP ahead |
| 2026-03-03 | 124.55 | 100.12 | -0.33 | near the usual relationship |
| 2026-03-02 | 125.93 | 101.56 | -0.38 | near the usual relationship |
| 2026-02-27 | 128.04 | 103.05 | -0.34 | near the usual relationship |
| 2026-02-26 | 126.37 | 101.74 | -0.34 | near the usual relationship |
| 2026-02-25 | 126.33 | 102.71 | -0.51 | PEP ahead |
| 2026-02-24 | 126.72 | 102.93 | -0.49 | near the usual relationship |
| 2026-02-23 | 126.47 | 102.19 | -0.40 | near the usual relationship |
| 2026-02-20 | 125.34 | 100.14 | -0.20 | near the usual relationship |
| 2026-02-19 | 123.88 | 99.93 | -0.37 | near the usual relationship |
| 2026-02-18 | 124.79 | 99.81 | -0.22 | near the usual relationship |
| 2026-02-17 | 124.90 | 98.31 | +0.06 | near the usual relationship |
| 2026-02-13 | 123.52 | 100.75 | -0.56 | PEP ahead |
| 2026-02-12 | 124.02 | 101.51 | -0.62 | PEP ahead |
| 2026-02-11 | 123.39 | 102.70 | -0.90 | PEP ahead |
| 2026-02-10 | 120.58 | 101.37 | -1.07 | PEP ahead |
| 2026-02-09 | 122.40 | 101.07 | -0.75 | PEP ahead |
| 2026-02-06 | 124.07 | 103.51 | -0.92 | PEP ahead |
| 2026-02-05 | 123.25 | 101.71 | -0.72 | PEP ahead |
| 2026-02-04 | 121.43 | 100.89 | -0.82 | PEP ahead |
| 2026-02-03 | 120.71 | 98.87 | -0.57 | PEP ahead |
| 2026-02-02 | 118.26 | 94.23 | -0.10 | near the usual relationship |
| 2026-01-30 | 117.44 | 93.27 | -0.04 | near the usual relationship |
| 2026-01-29 | 115.27 | 90.27 | +0.20 | near the usual relationship |
| 2026-01-28 | 114.69 | 90.16 | +0.14 | near the usual relationship |
| 2026-01-27 | 115.46 | 90.33 | +0.23 | near the usual relationship |
| 2026-01-26 | 113.91 | 88.56 | +0.33 | near the usual relationship |
| 2026-01-23 | 114.41 | 87.78 | +0.54 | KO ahead |
| 2026-01-22 | 112.83 | 87.67 | +0.35 | near the usual relationship |
| 2026-01-21 | 113.05 | 89.09 | +0.15 | near the usual relationship |
| 2026-01-20 | 112.64 | 89.65 | +0.01 | near the usual relationship |
| 2026-01-16 | 110.58 | 88.83 | -0.12 | near the usual relationship |
| 2026-01-15 | 110.64 | 88.99 | -0.13 | near the usual relationship |
| 2026-01-14 | 112.15 | 88.59 | +0.14 | near the usual relationship |
| 2026-01-13 | 111.84 | 87.11 | +0.35 | near the usual relationship |
| 2026-01-12 | 110.68 | 85.82 | +0.42 | near the usual relationship |
| 2026-01-09 | 110.69 | 84.94 | +0.58 | KO ahead |
| 2026-01-08 | 108.90 | 84.62 | +0.41 | near the usual relationship |
| 2026-01-07 | 106.03 | 83.18 | +0.28 | near the usual relationship |
| 2026-01-06 | 106.50 | 84.37 | +0.15 | near the usual relationship |
| 2026-01-05 | 106.66 | 84.95 | +0.09 | near the usual relationship |
| 2026-01-02 | 108.51 | 86.35 | +0.11 | near the usual relationship |
| 2025-12-31 | 109.75 | 87.13 | +0.14 | near the usual relationship |
| 2025-12-30 | 110.00 | 87.52 | +0.12 | near the usual relationship |
| 2025-12-29 | 110.14 | 87.57 | +0.14 | near the usual relationship |
| 2025-12-26 | 109.69 | 87.29 | +0.14 | near the usual relationship |
| 2025-12-24 | 110.06 | 87.27 | +0.19 | near the usual relationship |
| 2025-12-23 | 109.69 | 87.23 | +0.16 | near the usual relationship |
| 2025-12-22 | 110.22 | 89.28 | -0.07 | near the usual relationship |
| 2025-12-19 | 109.98 | 89.95 | -0.18 | near the usual relationship |
| 2025-12-18 | 110.46 | 90.69 | -0.22 | near the usual relationship |
| 2025-12-17 | 110.94 | 91.12 | -0.21 | near the usual relationship |
| 2025-12-16 | 110.47 | 91.29 | -0.28 | near the usual relationship |
| 2025-12-15 | 111.41 | 91.81 | -0.23 | near the usual relationship |
| 2025-12-12 | 110.71 | 91.46 | -0.25 | near the usual relationship |
| 2025-12-11 | 108.49 | 90.49 | -0.35 | near the usual relationship |
| 2025-12-10 | 110.22 | 90.89 | -0.21 | near the usual relationship |
| 2025-12-09 | 110.03 | 87.81 | +0.18 | near the usual relationship |
| 2025-12-08 | 110.28 | 88.42 | +0.14 | near the usual relationship |
| 2025-12-05 | 109.89 | 88.05 | +0.15 | near the usual relationship |
| 2025-12-04 | 110.60 | 89.19 | +0.09 | near the usual relationship |
| 2025-12-03 | 111.16 | 89.89 | +0.06 | near the usual relationship |
| 2025-12-02 | 110.94 | 90.23 | +0.01 | near the usual relationship |
| 2025-12-01 | 112.95 | 90.77 | +0.15 | near the usual relationship |
| 2025-11-28 | 114.79 | 90.30 | +0.39 | near the usual relationship |
| 2025-11-26 | 114.41 | 89.84 | +0.41 | near the usual relationship |
| 2025-11-25 | 113.99 | 88.71 | +0.52 | KO ahead |
| 2025-11-24 | 113.96 | 88.34 | +0.57 | KO ahead |
| 2025-11-21 | 114.52 | 88.84 | +0.56 | KO ahead |
| 2025-11-20 | 111.79 | 88.70 | +0.33 | near the usual relationship |
| 2025-11-19 | 111.63 | 89.31 | +0.25 | near the usual relationship |
| 2025-11-18 | 111.81 | 90.32 | +0.16 | near the usual relationship |
| 2025-11-17 | 110.96 | 89.75 | +0.15 | near the usual relationship |
| 2025-11-14 | 111.71 | 88.55 | +0.37 | near the usual relationship |
| 2025-11-13 | 111.57 | 88.05 | +0.42 | near the usual relationship |
| 2025-11-12 | 112.26 | 87.66 | +0.53 | KO ahead |
| 2025-11-11 | 112.42 | 88.08 | +0.50 | KO ahead |
| 2025-11-10 | 110.71 | 86.59 | +0.53 | KO ahead |
| 2025-11-07 | 110.75 | 86.79 | +0.51 | KO ahead |
| 2025-11-06 | 108.41 | 85.96 | +0.41 | near the usual relationship |
| 2025-11-05 | 107.55 | 86.73 | +0.25 | near the usual relationship |
| 2025-11-04 | 107.79 | 86.76 | +0.27 | near the usual relationship |
| 2025-11-03 | 106.70 | 87.18 | +0.13 | near the usual relationship |
| 2025-10-31 | 108.16 | 88.70 | +0.10 | near the usual relationship |
| 2025-10-30 | 108.29 | 89.58 | +0.03 | near the usual relationship |
| 2025-10-29 | 107.30 | 88.74 | +0.04 | near the usual relationship |
| 2025-10-28 | 110.14 | 91.14 | +0.04 | near the usual relationship |
| 2025-10-27 | 109.98 | 92.67 | -0.13 | near the usual relationship |
| 2025-10-24 | 109.43 | 92.01 | -0.10 | near the usual relationship |
| 2025-10-23 | 109.80 | 91.99 | -0.06 | near the usual relationship |
| 2025-10-22 | 111.16 | 92.91 | -0.03 | near the usual relationship |
| 2025-10-21 | 111.81 | 93.00 | +0.02 | near the usual relationship |
| 2025-10-20 | 107.44 | 93.28 | -0.37 | near the usual relationship |
| 2025-10-17 | 107.44 | 93.32 | -0.37 | near the usual relationship |
| 2025-10-16 | 106.11 | 92.69 | -0.42 | near the usual relationship |
| 2025-10-15 | 105.31 | 91.77 | -0.39 | near the usual relationship |
| 2025-10-14 | 105.98 | 92.00 | -0.35 | near the usual relationship |
| 2025-10-13 | 104.87 | 90.40 | -0.28 | near the usual relationship |
| 2025-10-10 | 105.24 | 91.12 | -0.32 | near the usual relationship |
| 2025-10-09 | 104.19 | 87.86 | -0.08 | near the usual relationship |
| 2025-10-08 | 103.80 | 84.29 | +0.26 | near the usual relationship |
| 2025-10-07 | 104.85 | 85.48 | +0.23 | near the usual relationship |
| 2025-10-06 | 103.77 | 84.82 | +0.21 | near the usual relationship |
| 2025-10-03 | 104.63 | 86.20 | +0.15 | near the usual relationship |
| 2025-10-02 | 103.77 | 86.40 | +0.06 | near the usual relationship |
| 2025-10-01 | 104.84 | 86.90 | +0.10 | near the usual relationship |
| 2025-09-30 | 104.11 | 85.27 | +0.21 | near the usual relationship |
| 2025-09-29 | 103.67 | 85.10 | +0.19 | near the usual relationship |
| 2025-09-26 | 103.09 | 85.27 | +0.13 | near the usual relationship |
| 2025-09-25 | 103.58 | 84.95 | +0.21 | near the usual relationship |
| 2025-09-24 | 104.32 | 86.32 | +0.13 | near the usual relationship |
| 2025-09-23 | 104.73 | 86.15 | +0.19 | near the usual relationship |
| 2025-09-22 | 103.94 | 85.62 | +0.18 | near the usual relationship |
| 2025-09-19 | 104.29 | 86.07 | +0.17 | near the usual relationship |
| 2025-09-18 | 104.33 | 85.44 | +0.24 | near the usual relationship |
| 2025-09-17 | 105.24 | 85.74 | +0.29 | near the usual relationship |
| 2025-09-16 | 103.99 | 85.02 | +0.27 | near the usual relationship |
| 2025-09-15 | 103.94 | 85.39 | +0.23 | near the usual relationship |
| 2025-09-12 | 105.20 | 87.14 | +0.16 | near the usual relationship |
| 2025-09-11 | 106.15 | 87.57 | +0.21 | near the usual relationship |
| 2025-09-10 | 106.47 | 86.61 | +0.33 | near the usual relationship |
| 2025-09-09 | 106.53 | 86.88 | +0.31 | near the usual relationship |
| 2025-09-08 | 105.86 | 86.04 | +0.35 | near the usual relationship |
| 2025-09-05 | 106.69 | 88.88 | +0.14 | near the usual relationship |
| 2025-09-04 | 107.14 | 89.18 | +0.15 | near the usual relationship |
| 2025-09-03 | 108.30 | 90.24 | +0.15 | near the usual relationship |
| 2025-09-02 | 108.41 | 91.24 | +0.06 | near the usual relationship |
| 2025-08-29 | 108.30 | 90.25 | +0.15 | near the usual relationship |
| 2025-08-28 | 107.32 | 89.24 | +0.17 | near the usual relationship |
| 2025-08-27 | 108.05 | 89.64 | +0.20 | near the usual relationship |
| 2025-08-26 | 107.90 | 89.25 | +0.23 | near the usual relationship |
| 2025-08-25 | 108.21 | 89.98 | +0.19 | near the usual relationship |
| 2025-08-22 | 110.09 | 90.85 | +0.26 | near the usual relationship |
| 2025-08-21 | 110.93 | 90.45 | +0.37 | near the usual relationship |
| 2025-08-20 | 110.99 | 91.51 | +0.28 | near the usual relationship |
| 2025-08-19 | 110.09 | 92.38 | +0.13 | near the usual relationship |
| 2025-08-18 | 108.52 | 90.80 | +0.16 | near the usual relationship |
| 2025-08-15 | 109.76 | 91.31 | +0.22 | near the usual relationship |
| 2025-08-14 | 109.18 | 90.23 | +0.28 | near the usual relationship |
| 2025-08-13 | 110.61 | 90.67 | +0.35 | near the usual relationship |
| 2025-08-12 | 111.00 | 89.17 | +0.52 | KO ahead |
| 2025-08-11 | 111.07 | 87.95 | +0.65 | KO ahead |
| 2025-08-08 | 110.42 | 88.16 | +0.58 | KO ahead |
| 2025-08-07 | 110.57 | 87.38 | +0.67 | KO ahead |
| 2025-08-06 | 109.12 | 85.48 | +0.75 | KO ahead |
| 2025-08-05 | 108.40 | 84.66 | +0.78 | KO ahead |
| 2025-08-04 | 108.26 | 84.73 | +0.77 | KO ahead |
| 2025-08-01 | 108.10 | 84.56 | +0.78 | KO ahead |
| 2025-07-31 | 106.58 | 83.74 | +0.76 | KO ahead |
| 2025-07-30 | 107.93 | 86.73 | +0.58 | KO ahead |
| 2025-07-29 | 108.92 | 87.36 | +0.60 | KO ahead |
| 2025-07-28 | 106.89 | 85.95 | +0.58 | KO ahead |
| 2025-07-25 | 108.59 | 87.09 | +0.61 | KO ahead |
| 2025-07-24 | 108.48 | 87.74 | +0.55 | KO ahead |
| 2025-07-23 | 108.57 | 88.43 | +0.50 | KO ahead |
| 2025-07-22 | 109.36 | 88.66 | +0.54 | KO ahead |
| 2025-07-21 | 110.00 | 86.03 | +0.84 | KO ahead |
| 2025-07-18 | 109.65 | 86.96 | +0.73 | KO ahead |
| 2025-07-17 | 110.82 | 88.30 | +0.70 | KO ahead |
| 2025-07-16 | 108.74 | 82.17 | +1.13 | KO ahead |
| 2025-07-15 | 108.89 | 81.24 | +1.24 | KO ahead |
| 2025-07-14 | 109.06 | 82.31 | +1.16 | KO ahead |
| 2025-07-11 | 109.69 | 82.12 | +1.24 | KO ahead |
| 2025-07-10 | 109.53 | 82.62 | +1.19 | KO ahead |
| 2025-07-09 | 109.07 | 81.65 | +1.26 | KO ahead |
| 2025-07-08 | 110.27 | 81.99 | +1.32 | KO ahead |
| 2025-07-07 | 111.48 | 81.63 | +1.46 | KO ahead |
| 2025-07-03 | 112.01 | 82.19 | +1.45 | KO ahead |
| 2025-07-02 | 111.32 | 82.86 | +1.35 | KO ahead |
| 2025-07-01 | 112.51 | 82.12 | +1.52 | KO ahead |
| 2025-06-30 | 111.07 | 80.17 | +1.63 | KO ahead |
| 2025-06-27 | 110.41 | 79.56 | +1.66 | KO ahead |
| 2025-06-26 | 109.06 | 77.85 | +1.75 | KO ahead |
| 2025-06-25 | 109.31 | 77.72 | +1.80 | KO ahead |
| 2025-06-24 | 110.22 | 79.56 | +1.69 | KO ahead |
| 2025-06-23 | 109.48 | 78.37 | +1.78 | KO ahead |
| 2025-06-20 | 108.07 | 78.36 | +1.69 | KO ahead |
| 2025-06-18 | 108.65 | 78.36 | +1.75 | KO ahead |
| 2025-06-17 | 109.29 | 78.50 | +1.81 | KO ahead |
| 2025-06-16 | 110.71 | 79.78 | +1.80 | KO ahead |
| 2025-06-13 | 111.49 | 79.44 | +1.91 | KO ahead |
| 2025-06-12 | 113.41 | 80.32 | +1.99 | KO ahead |
| 2025-06-11 | 113.14 | 78.87 | +2.15 | KO ahead |
| 2025-06-10 | 113.58 | 80.04 | +2.08 | KO ahead |
| 2025-06-09 | 112.67 | 78.90 | +2.16 | KO ahead |
| 2025-06-06 | 112.01 | 78.94 | +2.13 | KO ahead |
| 2025-06-05 | 111.32 | 79.60 | +2.03 | KO ahead |
| 2025-06-04 | 112.04 | 79.98 | +2.06 | KO ahead |
| 2025-06-03 | 111.71 | 80.05 | +2.05 | KO ahead |
| 2025-06-02 | 113.03 | 79.48 | +2.25 | KO ahead |
| 2025-05-30 | 113.19 | 79.81 | +2.25 | KO ahead |
| 2025-05-29 | 112.23 | 80.09 | +2.16 | KO ahead |
| 2025-05-28 | 111.70 | 79.33 | +2.23 | KO ahead |
| 2025-05-27 | 112.68 | 79.76 | +2.28 | KO ahead |
| 2025-05-23 | 112.67 | 78.53 | +2.45 | KO ahead |
| 2025-05-22 | 111.68 | 79.00 | +2.35 | KO ahead |
| 2025-05-21 | 112.79 | 79.02 | +2.46 | KO ahead |
| 2025-05-20 | 112.54 | 80.02 | +2.36 | KO ahead |
| 2025-05-19 | 112.92 | 80.01 | +2.42 | KO ahead |
| 2025-05-16 | 113.03 | 80.13 | +2.45 | KO ahead |
| 2025-05-15 | 112.42 | 79.84 | +2.46 | KO ahead |
| 2025-05-14 | 108.57 | 77.99 | +2.39 | KO ahead |
| 2025-05-13 | 108.26 | 79.11 | +2.25 | KO ahead |
| 2025-05-12 | 109.15 | 79.95 | +2.26 | KO ahead |
| 2025-05-09 | 110.71 | 79.19 | +2.52 | KO ahead |
| 2025-05-08 | 111.73 | 79.79 | +2.57 | KO ahead |
| 2025-05-07 | 113.66 | 80.09 | +2.74 | KO ahead |
| 2025-05-06 | 112.59 | 79.38 | +2.78 | KO ahead |
| 2025-05-05 | 112.56 | 80.13 | +2.73 | KO ahead |
| 2025-05-02 | 112.48 | 81.20 | +2.63 | KO ahead |
| 2025-05-01 | 111.92 | 81.08 | +2.63 | KO ahead |
| 2025-04-30 | 113.89 | 82.31 | +2.70 | KO ahead |
| 2025-04-29 | 113.58 | 81.54 | +2.81 | KO ahead |
| 2025-04-28 | 112.70 | 81.21 | +2.82 | KO ahead |
| 2025-04-25 | 112.89 | 80.98 | +2.92 | KO ahead |
| 2025-04-24 | 113.85 | 82.15 | +2.91 | KO ahead |
| 2025-04-23 | 115.07 | 86.37 | +2.52 | KO ahead |
| 2025-04-22 | 116.01 | 87.10 | +2.55 | KO ahead |
| 2025-04-21 | 114.24 | 86.05 | +2.55 | KO ahead |
| 2025-04-17 | 114.60 | 86.72 | +2.53 | KO ahead |
| 2025-04-16 | 112.53 | 85.05 | +2.58 | KO ahead |
| 2025-04-15 | 112.81 | 86.72 | +2.43 | KO ahead |
| 2025-04-14 | 113.74 | 89.10 | +2.24 | KO ahead |
| 2025-04-11 | 112.14 | 87.69 | +2.29 | KO ahead |
| 2025-04-10 | 111.08 | 87.51 | +2.23 | KO ahead |
| 2025-04-09 | 109.81 | 88.39 | +2.01 | KO ahead |
| 2025-04-08 | 107.41 | 85.18 | +2.21 | KO ahead |
| 2025-04-07 | 107.33 | 86.93 | +1.99 | KO ahead |
| 2025-04-04 | 109.78 | 89.01 | +2.00 | KO ahead |
| 2025-04-03 | 114.88 | 91.90 | +2.17 | KO ahead |
| 2025-04-02 | 111.98 | 90.53 | +2.07 | KO ahead |
| 2025-04-01 | 112.83 | 90.87 | +2.14 | KO ahead |
| 2025-03-31 | 112.43 | 91.03 | +2.11 | KO ahead |
| 2025-03-28 | 110.47 | 90.63 | +1.97 | KO ahead |
| 2025-03-27 | 111.05 | 90.87 | +2.02 | KO ahead |
| 2025-03-26 | 109.92 | 90.24 | +2.01 | KO ahead |
| 2025-03-25 | 108.02 | 88.36 | +2.07 | KO ahead |
| 2025-03-24 | 108.24 | 88.91 | +2.05 | KO ahead |
| 2025-03-21 | 107.80 | 88.31 | +2.10 | KO ahead |
| 2025-03-20 | 109.43 | 89.34 | +2.17 | KO ahead |
| 2025-03-19 | 108.76 | 89.92 | +2.04 | KO ahead |
| 2025-03-18 | 108.92 | 90.46 | +2.01 | KO ahead |
| 2025-03-17 | 110.08 | 91.88 | +1.97 | KO ahead |
| 2025-03-14 | 108.57 | 90.21 | +2.06 | KO ahead |
| 2025-03-13 | 109.29 | 90.06 | +2.19 | KO ahead |
| 2025-03-12 | 109.80 | 89.96 | +2.29 | KO ahead |
| 2025-03-11 | 111.52 | 92.48 | +2.17 | KO ahead |
| 2025-03-10 | 112.17 | 94.86 | +1.94 | KO ahead |
| 2025-03-07 | 112.14 | 93.76 | +2.11 | KO ahead |
| 2025-03-06 | 110.61 | 93.87 | +1.95 | KO ahead |
| 2025-03-05 | 110.02 | 93.42 | +1.96 | KO ahead |
| 2025-03-04 | 110.19 | 93.61 | +1.98 | KO ahead |
| 2025-03-03 | 113.53 | 94.71 | +2.25 | KO ahead |
| 2025-02-28 | 111.79 | 93.18 | +2.29 | KO ahead |
| 2025-02-27 | 111.26 | 92.30 | +2.39 | KO ahead |
| 2025-02-26 | 111.15 | 91.99 | +2.46 | KO ahead |
| 2025-02-25 | 112.23 | 94.97 | +2.19 | KO ahead |
| 2025-02-24 | 110.82 | 93.41 | +2.27 | KO ahead |
| 2025-02-21 | 112.01 | 93.19 | +2.49 | KO ahead |
| 2025-02-20 | 109.95 | 90.52 | +2.68 | KO ahead |
| 2025-02-19 | 110.00 | 88.53 | +3.06 | KO ahead |
| 2025-02-18 | 108.40 | 87.49 | +3.08 | KO ahead |
| 2025-02-14 | 108.12 | 87.06 | +3.18 | KO ahead |
| 2025-02-13 | 109.11 | 87.78 | +3.27 | KO ahead |
| 2025-02-12 | 107.86 | 87.42 | +3.23 | KO ahead |
| 2025-02-11 | 106.12 | 88.42 | +2.86 | KO ahead |
| 2025-02-10 | 101.33 | 87.64 | +2.32 | KO ahead |
| 2025-02-07 | 100.22 | 87.78 | +2.15 | KO ahead |
| 2025-02-06 | 99.47 | 88.25 | +1.97 | KO ahead |
| 2025-02-05 | 99.09 | 88.43 | +1.90 | KO ahead |
| 2025-02-04 | 98.38 | 87.12 | +2.05 | KO ahead |
| 2025-02-03 | 99.45 | 91.23 | +1.51 | KO ahead |
| 2025-01-31 | 99.65 | 91.49 | +1.51 | KO ahead |
| 2025-01-30 | 100.55 | 92.22 | +1.54 | KO ahead |
| 2025-01-29 | 98.63 | 91.29 | +1.41 | KO ahead |
| 2025-01-28 | 97.90 | 91.22 | +1.31 | KO ahead |
| 2025-01-27 | 100.27 | 93.87 | +1.25 | KO ahead |
| 2025-01-24 | 97.21 | 90.53 | +1.34 | KO ahead |
| 2025-01-23 | 96.59 | 90.23 | +1.31 | KO ahead |
| 2025-01-22 | 96.99 | 89.91 | +1.44 | KO ahead |
| 2025-01-21 | 97.99 | 90.19 | +1.57 | KO ahead |
| 2025-01-17 | 98.45 | 90.01 | +1.69 | KO ahead |
| 2025-01-16 | 97.72 | 88.97 | +1.78 | KO ahead |
| 2025-01-15 | 96.97 | 87.90 | +1.87 | KO ahead |
| 2025-01-14 | 97.39 | 88.00 | +1.94 | KO ahead |
| 2025-01-13 | 96.78 | 87.73 | +1.91 | KO ahead |
| 2025-01-10 | 95.87 | 86.60 | +1.99 | KO ahead |
| 2025-01-08 | 96.88 | 88.97 | +1.74 | KO ahead |
| 2025-01-07 | 95.51 | 88.28 | +1.65 | KO ahead |
| 2025-01-06 | 95.46 | 88.80 | +1.56 | KO ahead |
| 2025-01-03 | 96.94 | 90.86 | +1.44 | KO ahead |
| 2025-01-02 | 97.08 | 91.20 | +1.42 | KO ahead |
| 2024-12-31 | 97.74 | 92.32 | +1.34 | KO ahead |
| 2024-12-30 | 97.38 | 92.11 | +1.32 | KO ahead |
| 2024-12-27 | 98.04 | 92.82 | +1.32 | KO ahead |
| 2024-12-26 | 98.23 | 92.55 | +1.41 | KO ahead |
| 2024-12-24 | 98.65 | 92.78 | +1.45 | KO ahead |
| 2024-12-23 | 97.93 | 91.85 | +1.51 | KO ahead |
| 2024-12-20 | 98.19 | 92.76 | +1.40 | KO ahead |
| 2024-12-19 | 98.04 | 91.96 | +1.53 | KO ahead |
| 2024-12-18 | 98.67 | 93.76 | +1.33 | KO ahead |
| 2024-12-17 | 99.53 | 94.80 | +1.30 | KO ahead |
| 2024-12-16 | 98.19 | 94.72 | +1.10 | KO ahead |
| 2024-12-13 | 99.09 | 95.91 | +1.05 | KO ahead |
| 2024-12-12 | 100.22 | 96.47 | +1.15 | KO ahead |
| 2024-12-11 | 98.34 | 95.18 | +1.07 | KO ahead |
| 2024-12-10 | 98.76 | 97.04 | +0.83 | KO ahead |
| 2024-12-09 | 98.27 | 96.82 | +0.79 | KO ahead |
| 2024-12-06 | 98.16 | 95.80 | +0.95 | KO ahead |
| 2024-12-05 | 98.78 | 97.44 | +0.78 | KO ahead |
| 2024-12-04 | 97.66 | 97.25 | +0.63 | KO ahead |
| 2024-12-03 | 99.72 | 98.17 | +0.83 | KO ahead |
| 2024-12-02 | 99.92 | 98.99 | +0.73 | KO ahead |
| 2024-11-29 | 100.60 | 99.24 | +0.81 | KO ahead |
| 2024-11-27 | 101.15 | 98.79 | +0.98 | KO ahead |
| 2024-11-26 | 101.33 | 98.45 | +1.07 | KO ahead |
| 2024-11-25 | 101.07 | 98.99 | +0.95 | KO ahead |
| 2024-11-22 | 100.35 | 98.35 | +0.94 | KO ahead |
| 2024-11-21 | 100.09 | 97.35 | +1.08 | KO ahead |
| 2024-11-20 | 98.89 | 96.38 | +1.05 | KO ahead |
| 2024-11-19 | 98.26 | 95.15 | +1.17 | KO ahead |
| 2024-11-18 | 97.11 | 96.13 | +0.82 | KO ahead |
| 2024-11-15 | 96.92 | 96.30 | +0.76 | KO ahead |
| 2024-11-14 | 98.19 | 100.27 | +0.32 | near the usual relationship |
| 2024-11-13 | 98.90 | 100.02 | +0.48 | near the usual relationship |
| 2024-11-12 | 99.22 | 99.78 | +0.58 | KO ahead |
| 2024-11-11 | 99.47 | 99.73 | +0.64 | KO ahead |
| 2024-11-08 | 100.35 | 100.24 | +0.70 | KO ahead |
| 2024-11-07 | 99.94 | 99.57 | +0.75 | KO ahead |
| 2024-11-06 | 100.00 | 100.00 | +0.70 | 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%).
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 Nov 3, 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
- $407.8B
- Price history
- 2,534 daily closes, Oct 12, 2016 to Nov 10, 2026
PEP PepsiCo Inc.
- Listing
- Nasdaq · SEC CIK 77476
- Industry
- Beverages (Production/Distribution) · SIC 2080 Beverages
- Market value
- $187.1B
- Price history
- 2,534 daily closes, Oct 12, 2016 to Nov 10, 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.
