Coca Cola Correlations

COKE Stock

USD 1,371 22.51 1.62%

The current 90-days correlation between Coca Cola Consolidated and Monster Beverage Corp is 0.14 (i.e., Average diversification). The correlation of Coca Cola 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.

Coca Cola Correlation With Market

Modest diversification

The correlation between Coca Cola Consolidated and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coca Cola Consolidated 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 Coca Cola Consolidated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Coca Stock

0.68	KO	Coca Cola Aggressive Push	Pair Corr
0.67	PRMB	Primo Brands	Pair Corr
0.76	BRFH	Barfresh Food Group Earnings Call Today	Pair Corr
0.72	CCEP	Coca Cola European	Pair Corr
0.63	COCO	Vita Coco	Pair Corr
0.83	K	Kellanova Earnings Call Tomorrow	Pair Corr
0.78	BJ	BJs Wholesale Club Earnings Call This Week	Pair Corr
0.74	PM	Philip Morris Intern	Pair Corr
0.78	UG	United Guardian	Pair Corr

Moving against Coca Stock

0.68	SHOT	Safety Shot	Pair Corr
0.62	FIZZ	National Beverage Corp	Pair Corr
0.62	BG	Bunge Limited	Pair Corr
0.56	OTLY	Oatly Group AB Upward Rally	Pair Corr
0.51	CL	Colgate Palmolive	Pair Corr
0.5	MNST	Monster Beverage Corp Earnings Call Tomorrow	Pair Corr
0.49	CELH	Celsius Holdings Earnings Call Today	Pair Corr
0.43	PEP	PepsiCo	Pair Corr
0.69	MGPI	MGP Ingredients	Pair Corr
0.62	MYND	Myndai,	Pair Corr
0.59	LW	Lamb Weston Holdings	Pair Corr
0.55	DNUT	Krispy Kreme	Pair Corr
0.45	EEIQ	Elite Education Group	Pair Corr
0.44	TR	Tootsie Roll Industries	Pair Corr
0.34	DTCK	Davis Commodities	Pair Corr

Related Correlations Analysis

	KO	MNST	CELH	KDP	PEP	KOF	FIZZ	PRMW	COCO
KO		-0.02	-0.18	0.38	-0.1	0.83	-0.42	0.0	0.67	KO
MNST	-0.02		0.75	0.46	0.8	0.3	0.77	0.0	-0.38	MNST
CELH	-0.18	0.75		0.51	0.66	0.18	0.65	0.0	-0.52	CELH
KDP	0.38	0.46	0.51		0.59	0.68	0.3	0.0	0.16	KDP
PEP	-0.1	0.8	0.66	0.59		0.28	0.87	0.0	-0.2	PEP
KOF	0.83	0.3	0.18	0.68	0.28		-0.03	0.0	0.5	KOF
FIZZ	-0.42	0.77	0.65	0.3	0.87	-0.03		0.0	-0.49	FIZZ
PRMW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PRMW
COCO	0.67	-0.38	-0.52	0.16	-0.2	0.5	-0.49	0.0		COCO
	KO	MNST	CELH	KDP	PEP	KOF	FIZZ	PRMW	COCO

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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

FIZZ	+ 0.87	PEP
KOF	+ 0.83	KO
PEP	+ 0.8	MNST
FIZZ	+ 0.77	MNST
CELH	+ 0.75	MNST
KOF	+ 0.68	KDP

High negative correlations

COCO	- 0.52	CELH
COCO	- 0.49	FIZZ
FIZZ	- 0.42	KO
COCO	- 0.38	MNST
COCO	- 0.2	PEP
CELH	- 0.18	KO

Risk-Adjusted Indicators

There is a big difference between Coca Stock performing well and Coca Cola 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 Coca Cola'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
KO	0.88	0.23	0.24	2.39	0.70	(1.03)	1.92	(1.13)	5.79
MNST	0.99	(0.03)	0.00	(0.30)	0.00	0.00	2.66	(1.87)	5.40
CELH	3.47	0.19	0.04	1.85	4.27	(3.67)	7.49	(7.23)	31.60
KDP	0.98	0.12	0.10	(6.89)	1.05	(1.11)	2.18	(1.54)	6.58
PEP	0.97	(0.01)	(0.01)	(0.03)	1.43	(0.92)	1.67	(2.26)	8.19
KOF	0.96	0.18	0.16	(1.91)	0.99	(1.18)	1.81	(1.59)	5.46
FIZZ	1.10	(0.18)	0.00	(1.57)	0.00	0.00	2.24	(2.08)	10.19
PRMW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COCO	1.28	0.13	0.08	0.15	1.52	(1.42)	3.72	(1.94)	13.35

Coca Cola Corporate Management

Beauregarde III	General VP	Profile
Nathaniel Tollison	Communications, Affairs	Profile
Christine Motherwell	Senior Resources	Profile
Frank III	Chairman CEO	Profile

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