Compania Cervecerias Correlations

CCU Stock

USD 11.32 0.19 1.71%

The current 90-days correlation between Compania Cervecerias and Suntory Beverage Food is -0.15 (i.e., Good diversification). The correlation of Compania Cervecerias 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.

Compania Cervecerias Correlation With Market

Average diversification

The correlation between Compania Cervecerias Unidas and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compania Cervecerias Unidas 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 Compania Cervecerias Unidas. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving against Compania Stock

0.59	BOF	BranchOut Food Common	Pair Corr
0.43	GV	Visionary Education	Pair Corr
0.35	TSN	Tyson Foods	Pair Corr
0.55	TR	Tootsie Roll Industries	Pair Corr
0.41	EDBL	Edible Garden AG	Pair Corr
0.39	DNUT	Krispy Kreme	Pair Corr
0.35	CENTA	Central Garden Pet	Pair Corr
0.32	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FMX	CABGY	TAP-A	TAP	HEINY	TSGTY	STBFY
FMX		0.81	-0.66	-0.81	0.91	-0.32	0.71	FMX
CABGY	0.81		-0.69	-0.78	0.89	-0.05	0.83	CABGY
TAP-A	-0.66	-0.69		0.77	-0.69	-0.03	-0.46	TAP-A
TAP	-0.81	-0.78	0.77		-0.8	0.11	-0.61	TAP
HEINY	0.91	0.89	-0.69	-0.8		-0.32	0.85	HEINY
TSGTY	-0.32	-0.05	-0.03	0.11	-0.32		-0.23	TSGTY
STBFY	0.71	0.83	-0.46	-0.61	0.85	-0.23		STBFY
	FMX	CABGY	TAP-A	TAP	HEINY	TSGTY	STBFY

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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

HEINY	+ 0.91	FMX
HEINY	+ 0.89	CABGY
STBFY	+ 0.85	HEINY
STBFY	+ 0.83	CABGY
CABGY	+ 0.81	FMX
TAP	+ 0.77	TAP-A

High negative correlations

TAP	- 0.81	FMX
HEINY	- 0.8	TAP
TAP	- 0.78	CABGY
HEINY	- 0.69	TAP-A
TAP-A	- 0.69	CABGY
TAP-A	- 0.66	FMX

Risk-Adjusted Indicators

There is a big difference between Compania Stock performing well and Compania Cervecerias 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 Compania Cervecerias' 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
FMX	0.88	(0.31)	0.00	(0.76)	0.00	0.00	1.68	(2.41)	5.50
CABGY	1.35	(0.17)	0.00	(1.04)	0.00	0.00	2.74	(2.54)	9.08
TAP-A	0.59	0.08	(0.02)	(0.43)	0.94	(2.01)	2.22	(1.87)	7.84
TAP	1.07	0.17	0.08	0.64	0.98	(1.22)	2.95	(1.84)	7.56
HEINY	0.92	(0.26)	0.00	1.81	0.00	0.00	1.51	(2.02)	6.89
TSGTY	2.89	0.17	0.02	0.37	3.86	(4.23)	8.74	(7.27)	33.66
STBFY	1.11	(0.11)	0.00	13.87	0.00	0.00	1.93	(2.71)	5.47

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