ConAgra Foods Correlations

CAG Stock

USD 25.90 0.10 0.38%

The current 90-days correlation between ConAgra Foods and Kellanova is 0.06 (i.e., Significant diversification). The correlation of ConAgra Foods 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.

ConAgra Foods Correlation With Market

Good diversification

The correlation between ConAgra Foods and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ConAgra Foods and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ConAgra Foods. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more detail on how to invest in ConAgra Stock please use our How to Invest in ConAgra Foods guide.

Moving together with ConAgra Stock

0.8	FLO	Flowers Foods	Pair Corr
0.86	STZ	Constellation Brands Sell-off Trend	Pair Corr
0.66	BG	Bunge Limited	Pair Corr
0.71	CL	Colgate Palmolive	Pair Corr
0.62	TR	Tootsie Roll Industries	Pair Corr

Moving against ConAgra Stock

0.8	UG	United Guardian	Pair Corr
0.58	BOF	BranchOut Food Common	Pair Corr
0.52	YQ	17 Education Technology	Pair Corr
0.49	K	Kellanova Sell-off Trend	Pair Corr
0.39	PM	Philip Morris Intern	Pair Corr
0.32	BJ	BJs Wholesale Club	Pair Corr
0.69	WVVI	Willamette Valley Earnings Call This Week	Pair Corr
0.65	BRLSW	Borealis Foods	Pair Corr
0.45	ACI	Albertsons Companies	Pair Corr
0.44	VSTA	Vasta Platform Potential Growth	Pair Corr
0.43	EWCZ	European Wax Center	Pair Corr
0.42	WYHG	Wing Yip Food	Pair Corr
0.4	AQB	AquaBounty Technologies	Pair Corr
0.4	BTI	British American Tobacco	Pair Corr
0.35	WILC	G Willi Food	Pair Corr

Related Correlations Analysis

	K	GIS	SJM	HRL	CPB	KHC	MKC
K		-0.42	0.15	-0.75	-0.44	0.18	0.52	K
GIS	-0.42		0.76	0.75	0.92	0.77	0.41	GIS
SJM	0.15	0.76		0.31	0.72	0.96	0.8	SJM
HRL	-0.75	0.75	0.31		0.69	0.3	-0.12	HRL
CPB	-0.44	0.92	0.72	0.69		0.76	0.35	CPB
KHC	0.18	0.77	0.96	0.3	0.76		0.79	KHC
MKC	0.52	0.41	0.8	-0.12	0.35	0.79		MKC
	K	GIS	SJM	HRL	CPB	KHC	MKC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

KHC	+ 0.96	SJM
CPB	+ 0.92	GIS
MKC	+ 0.8	SJM
MKC	+ 0.79	KHC
KHC	+ 0.77	GIS
SJM	+ 0.76	GIS

High negative correlations

HRL	- 0.75	K
CPB	- 0.44	K
GIS	- 0.42	K
MKC	- 0.12	HRL

Risk-Adjusted Indicators

There is a big difference between ConAgra Stock performing well and ConAgra Foods 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 ConAgra Foods' 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
K	0.14	0.03	0.61	(0.58)	0.00	(0.16)	0.34	(0.27)	0.80
GIS	1.34	(0.12)	0.00	(0.78)	0.00	0.00	2.32	(3.69)	8.21
SJM	1.30	(0.01)	0.00	(0.15)	0.00	0.00	2.60	(2.83)	8.11
HRL	1.07	(0.14)	0.00	(1.17)	0.00	0.00	2.77	(2.19)	6.26
CPB	1.38	(0.15)	0.00	(1.08)	0.00	0.00	2.59	(3.45)	10.02
KHC	1.28	(0.03)	0.00	(0.19)	0.00	0.00	2.23	(3.25)	7.69
MKC	1.13	0.03	0.06	0.03	1.45	(1.19)	2.56	(2.27)	6.80

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC