Co-movers

daily closes · 500dMethod

Moved together

BF-BwithKO

×0.15co-movement · KO on BF-B · 500d

r 0.32scale to r 0.75

Shared co-movers1with BF-Bwith KO

PEPPepsiCo Incr 0.43r 0.61

BF-B, solidKO, hatched× = co-movement · βr = correlationBar = r to r 0.75Order: weaker of A and BSource: daily closes

BF-BBrown Forman Corp

30.60−1.17%· post 30.60

Mkt cap$14.2BRevenue$911MQ1 FY27Revenue$4.2BFY26

KOCoca-Cola Co

95.75+0.02%· post 95.71

ClosedNov 6 '26

Mkt cap$411.8BRevenue$13.4BQ3 FY26Revenue$47.9BFY25

vs

Compare

ClosedNov 6 '26

BF-BBrown Forman Corp

vs

KOCoca-Cola Co

30.60−1.17%post 30.60

Price

95.75+0.02%post 95.71

$14.2B

Mkt cap

$411.8B

Q1 FY27$911M

Revenue

$13.4BQ3 FY26

FY26$4.2B

Revenue

$47.9BFY25

BF-B compared with KO: revenue, margins and what each company keeps, and the suppliers and customers both name