Carlsberg Correlations

CABGY Stock

USD 26.42 0.51 1.97%

The current 90-days correlation between Carlsberg AS and Suntory Beverage Food is -0.11 (i.e., Good diversification). The correlation of Carlsberg 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Carlsberg Correlation With Market

Good diversification

The correlation between Carlsberg AS and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Carlsberg AS and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Carlsberg Pink Sheet

0.93	FMX	Fomento Economico	Pair Corr
0.92	BUD	Anheuser Busch Inbev Sell-off Trend	Pair Corr
0.9	BUDFF	Anheuser Busch InBev	Pair Corr
0.92	HINKF	Heineken NV	Pair Corr
0.92	HEIA	Heineken	Pair Corr
0.63	BDWBF	Budweiser Brewing	Pair Corr
0.88	BDWBY	Budweiser Brewing	Pair Corr
0.77	ABEV	Ambev SA ADR Aggressive Push	Pair Corr
0.63	CRHKY	China Resources Beer Downward Rally	Pair Corr
0.8	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.74	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.72	INVX	Innovex International, Symbol Change	Pair Corr
0.81	FWEDF	Fireweed Zinc	Pair Corr
0.61	CDUAF	Canadian Utilities	Pair Corr
0.9	CHKP	Check Point Software	Pair Corr
0.96	CBYDF	Corby Spirit	Pair Corr
0.78	DNCVF	Defiance Silver Corp	Pair Corr
0.88	AXSM	Axsome Therapeutics	Pair Corr
0.64	SATS	EchoStar	Pair Corr
0.94	TCTZF	Tencent Holdings Downward Rally	Pair Corr
0.63	KGC	Kinross Gold Aggressive Push	Pair Corr
0.85	ASA	ASA Gold Normal Trading	Pair Corr
0.8	BAOB	Baraboo Bancorporation	Pair Corr
0.78	CDR-PB	Cedar Realty Trust	Pair Corr

Moving against Carlsberg Pink Sheet

0.82	PPERY	Bank Mandiri Persero	Pair Corr
0.8	PBCRY	Bank Central Asia	Pair Corr
0.78	PPERF	Bank Mandiri Persero	Pair Corr
0.7	BKRKY	Bank Rakyat	Pair Corr
0.37	SEVCD	Sono Group NV Trending	Pair Corr
0.37	037833DN7	APPLE INC	Pair Corr
0.31	GCPEF	GCL Poly Energy	Pair Corr

Related Correlations Analysis

	STBFY	SOOBF	ASBRF	CCU	HEINY	BUDFF	TSGTY	HKHHY	FMX
STBFY		0.0	0.48	0.46	0.54	0.7	0.42	0.44	0.58	STBFY
SOOBF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	SOOBF
ASBRF	0.48	0.0		0.66	0.56	0.66	0.19	0.54	0.63	ASBRF
CCU	0.46	0.0	0.66		0.87	0.91	-0.07	0.91	0.95	CCU
HEINY	0.54	0.0	0.56	0.87		0.93	0.09	0.96	0.89	HEINY
BUDFF	0.7	0.0	0.66	0.91	0.93		0.18	0.88	0.94	BUDFF
TSGTY	0.42	0.0	0.19	-0.07	0.09	0.18		-0.06	0.02	TSGTY
HKHHY	0.44	0.0	0.54	0.91	0.96	0.88	-0.06		0.89	HKHHY
FMX	0.58	0.0	0.63	0.95	0.89	0.94	0.02	0.89		FMX
	STBFY	SOOBF	ASBRF	CCU	HEINY	BUDFF	TSGTY	HKHHY	FMX

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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

HKHHY	+ 0.96	HEINY
FMX	+ 0.95	CCU
FMX	+ 0.94	BUDFF
BUDFF	+ 0.93	HEINY
BUDFF	+ 0.91	CCU
HKHHY	+ 0.91	CCU

High negative correlations

TSGTY	- 0.07	CCU
HKHHY	- 0.06	TSGTY
FMX	- 0.0	SOOBF
HKHHY	- 0.0	SOOBF
TSGTY	- 0.0	SOOBF
BUDFF	- 0.0	SOOBF

Risk-Adjusted Indicators

There is a big difference between Carlsberg Pink Sheet performing well and Carlsberg 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 Carlsberg'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
STBFY	0.93	0.02	0.07	0.28	1.15	(0.98)	1.61	(1.83)	4.69
SOOBF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASBRF	2.38	0.43	0.06	40.51	3.21	(6.99)	7.60	(5.78)	33.22
CCU	1.02	0.44	0.33	1.26	1.01	(1.17)	2.11	(1.67)	8.78
HEINY	1.24	0.24	0.23	8.42	1.14	(1.47)	2.34	(2.05)	17.24
BUDFF	1.22	0.27	0.22	(1.84)	1.37	(1.40)	2.57	(1.73)	10.21
TSGTY	1.47	0.12	0.05	(2.11)	2.34	(2.34)	3.61	(3.35)	19.08
HKHHY	1.24	0.33	0.29	1.05	1.01	(1.42)	2.80	(1.80)	17.29
FMX	1.27	0.20	0.17	0.79	1.33	(1.41)	2.99	(2.25)	7.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in Carlsberg 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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Carlsberg Corporate Management

Graham Fewkes	Sr. VP of Group Sales, Marketing and Innovation	Profile
Peter Kondrup	VP of Investor Relations	Profile
Joris Huijsmans	Ex Officer	Profile
Joao Abecasis	Ex Asia	Profile
Lars Lehmann	Ex Europe	Profile

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