MOLSON COORS Correlations

65K Stock

EUR 53.00 1.50 2.75%

The current 90-days correlation between MOLSON RS CDA and Hellenic Telecommunications Organization is 0.03 (i.e., Significant diversification). The correlation of MOLSON COORS 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.

MOLSON COORS Correlation With Market

Average diversification

The correlation between MOLSON RS CDA and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MOLSON RS CDA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MOLSON COORS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MOLSON COORS 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 MOLSON COORS - 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 MOLSON RS CDA to buy it.

Moving together with MOLSON Stock

0.66	1NBA	Anheuser Busch InBev	Pair Corr
0.67	ITKA	Anheuser Busch InBev	Pair Corr
0.62	4BB1	BUDWEISER BREWUNSPADR/4	Pair Corr
0.62	CHK	China Resources Beer	Pair Corr
0.94	NY7	Molson Coors Brewing	Pair Corr
0.7	NY70	MOLSON RS BEVERAGE	Pair Corr
0.81	0R1	Royal Unibrew AS	Pair Corr
0.74	CJH	CanSino Biologics	Pair Corr

Moving against MOLSON Stock

0.46	BYRA	PT Bank Rakyat	Pair Corr
0.41	OB8	PT Barito Pacific Earnings Call This Week	Pair Corr
0.35	KEH	CHINESE PEOPLE HLDG	Pair Corr
0.32	TCID	Telkom Indonesia Tbk Earnings Call This Week	Pair Corr
0.82	I7G	Ipsen SA	Pair Corr
0.38	BSX	BOSTON SCIENTIFIC	Pair Corr
0.31	NAH	Natural Health Trends	Pair Corr

Related Correlations Analysis

	COA1	CUEH	RSM0	M1W	CHWD	OTE	EUH	P4Q
COA1		-0.19	-0.07	0.75	-0.25	0.58	0.42	0.63	COA1
CUEH	-0.19		-0.27	0.09	0.49	-0.31	0.22	0.04	CUEH
RSM0	-0.07	-0.27		-0.5	-0.49	0.31	-0.58	-0.31	RSM0
M1W	0.75	0.09	-0.5		0.08	0.41	0.64	0.71	M1W
CHWD	-0.25	0.49	-0.49	0.08		-0.4	0.54	0.23	CHWD
OTE	0.58	-0.31	0.31	0.41	-0.4		0.01	0.36	OTE
EUH	0.42	0.22	-0.58	0.64	0.54	0.01		0.78	EUH
P4Q	0.63	0.04	-0.31	0.71	0.23	0.36	0.78		P4Q
	COA1	CUEH	RSM0	M1W	CHWD	OTE	EUH	P4Q

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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

P4Q	+ 0.78	EUH
M1W	+ 0.75	COA1
P4Q	+ 0.71	M1W
EUH	+ 0.64	M1W
P4Q	+ 0.63	COA1
OTE	+ 0.58	COA1

High negative correlations

EUH	- 0.58	RSM0
M1W	- 0.5	RSM0
CHWD	- 0.49	RSM0
OTE	- 0.4	CHWD
P4Q	- 0.31	RSM0
OTE	- 0.31	CUEH

Risk-Adjusted Indicators

There is a big difference between MOLSON Stock performing well and MOLSON COORS 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 MOLSON COORS'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
COA1	2.90	1.14	0.00	29.24	0.00	0.00	11.76	(5.56)	22.22
CUEH	2.26	0.12	0.06	0.64	2.71	(2.78)	5.66	(3.40)	18.33
RSM0	2.63	0.15	0.05	0.24	3.11	(3.12)	5.98	(4.17)	16.76
M1W	3.51	0.49	0.11	(0.83)	3.22	(6.06)	5.56	(5.56)	27.08
CHWD	0.61	(0.02)	0.00	(0.30)	0.00	0.00	1.12	(1.12)	4.37
OTE	0.62	0.02	0.09	(0.18)	0.76	(1.23)	1.78	(1.21)	6.04
EUH	1.00	0.45	0.00	(2.56)	0.00	0.00	0.00	0.00	35.42
P4Q	1.75	0.12	0.09	(2.01)	1.97	(1.94)	4.02	(2.98)	9.18

Be your own money manager

Our tools can tell you how much better you can do entering a position in MOLSON COORS 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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