Heineken Holding Correlations

4H5 Stock

EUR 68.00 0.30 0.44%

The current 90-days correlation between Heineken Holding and Singapore Telecommunications Limited is 0.14 (i.e., Average diversification). The correlation of Heineken Holding is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Heineken Holding Correlation With Market

Average diversification

The correlation between Heineken Holding NV and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heineken Holding NV and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Heineken Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Heineken Holding when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Heineken Holding - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Heineken Holding NV to buy it.

Moving together with Heineken Stock

0.81	FOMC	FOMECONMEXSAB DCV UTS	Pair Corr
0.98	HNK1	Heineken NV	Pair Corr
0.98	HNK2	HEINEKEN SP ADR	Pair Corr
0.62	AMNA	Ambev SA	Pair Corr
0.96	CBGB	Carlsberg A/S	Pair Corr
0.91	CBGA	Carlsberg A/S	Pair Corr
0.91	ABW	Asahi Group Holdings	Pair Corr
0.82	TLLB	Trelleborg AB	Pair Corr
0.73	HUKI	HUHTAMAKI	Pair Corr
0.93	5TP	BLUE LABEL	Pair Corr
0.87	BSN	Danone SA	Pair Corr
0.78	KGHA	KGHM Polska Miedz Earnings Call This Week	Pair Corr
0.94	3RE	Rejlerkoncernen AB	Pair Corr
0.83	JYS1	JYSKE BANK	Pair Corr
0.86	SOBA	ATT Inc	Pair Corr
0.89	BY6A	BYD Limited Earnings Call Tomorrow	Pair Corr
0.85	TKA	thyssenkrupp AG	Pair Corr
0.76	BRH	Berkshire Hathaway	Pair Corr
0.7	ROM	Rohm Co	Pair Corr
0.72	KEI	KEISEI EL RAILWAY Split	Pair Corr
0.86	DBPE	Xtrackers LevDAX	Pair Corr
0.73	E908	Lyxor 1	Pair Corr

Moving against Heineken Stock

0.82	WDC	Western Digital	Pair Corr
0.79	HYB	HOYA	Pair Corr
0.76	WDC	WESTERN DIGITAL	Pair Corr
0.76	WDC	WESTERN DIGITAL	Pair Corr
0.75	WDC	WESTERN DIGITAL	Pair Corr
0.75	WDC	WESTERN DIGITAL	Pair Corr
0.74	CYL	CryoLife	Pair Corr
0.73	CYL	CRYOLIFE	Pair Corr
0.85	DBPD	Xtrackers ShortDAX	Pair Corr
0.48	T9V	TASTY PLC LS	Pair Corr

Related Correlations Analysis

	69L	SIT4	CQD	GRU	M0G	SMA
69L		0.59	-0.2	0.53	0.62	0.48	69L
SIT4	0.59		0.09	0.81	0.7	0.56	SIT4
CQD	-0.2	0.09		0.06	-0.1	0.17	CQD
GRU	0.53	0.81	0.06		0.72	0.7	GRU
M0G	0.62	0.7	-0.1	0.72		0.4	M0G
SMA	0.48	0.56	0.17	0.7	0.4		SMA
	69L	SIT4	CQD	GRU	M0G	SMA

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

GRU	+ 0.81	SIT4
M0G	+ 0.72	GRU
M0G	+ 0.7	SIT4
SMA	+ 0.7	GRU
M0G	+ 0.62	69L
SIT4	+ 0.59	69L

High negative correlations

CQD	- 0.2	69L
M0G	- 0.1	CQD

Risk-Adjusted Indicators

There is a big difference between Heineken Stock performing well and Heineken Holding Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Heineken Holding's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
69L	1.12	0.13	0.13	1.95	1.14	(1.41)	2.04	(2.05)	8.21
SIT4	1.22	0.12	0.08	0.17	1.59	(1.28)	2.28	(2.17)	7.88
CQD	1.23	(0.11)	0.00	(0.78)	0.00	0.00	2.38	(2.64)	9.32
GRU	2.26	0.20	0.09	2.90	2.76	(2.69)	4.86	(4.29)	19.23
M0G	2.57	0.16	0.10	(0.41)	2.31	(3.60)	6.52	(4.04)	15.69
SMA	0.87	0.03	0.04	0.77	1.07	(2.25)	2.13	(2.08)	8.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in Heineken Holding without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Heineken Holding Corporate Management

Elected by the shareholders, the Heineken Holding's board of directors comprises two types of representatives: Heineken Holding inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Heineken. The board's role is to monitor Heineken Holding's management team and ensure that shareholders' interests are well served. Heineken Holding's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Heineken Holding's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jose Martinez	Director Relations	Profile
Sarah Backhouse	Director Communication	Profile
Laurence Debroux	Ex Director	Profile
Charlene CarvalhoHeineken	Ex Director	Profile
Michael Fuchs	Global Mang	Profile
Jan Linden	Managing Bus	Profile
Michel Carvalho	Ex Director	Profile

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