Coca Cola Correlations

COKE Stock

USD 1,285 15.63 1.20%

The current 90-days correlation between Coca Cola Consolidated and Monster Beverage Corp is 0.03 (i.e., Significant 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

Weak diversification

The correlation between Coca Cola Consolidated and DJI is 0.34 (i.e., Weak 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

0.84	PRMB	Primo Brands	Pair Corr
0.72	BRFH	Barfresh Food Group	Pair Corr
0.62	CCEP	Coca Cola European	Pair Corr
0.79	UG	United Guardian Downward Rally	Pair Corr

Moving against Coca Stock

0.75	FIZZ	National Beverage Corp	Pair Corr
0.69	BG	Bunge Limited	Pair Corr
0.48	LW	Lamb Weston Holdings Earnings Call This Week	Pair Corr
0.42	CELH	Celsius Holdings	Pair Corr
0.4	CL	Colgate Palmolive	Pair Corr
0.47	DTCK	Davis Commodities	Pair Corr
0.42	TR	Tootsie Roll Industries	Pair Corr
0.32	CENTA	Central Garden Pet	Pair Corr

Related Correlations Analysis

	KO	MNST	CELH	KDP	PEP	KOF	FIZZ	PRMW	COCO
KO		0.6	0.15	0.75	0.31	0.92	-0.69	0.0	-0.12	KO
MNST	0.6		0.7	0.72	0.51	0.77	-0.16	0.0	-0.55	MNST
CELH	0.15	0.7		0.44	0.33	0.37	0.17	0.0	-0.4	CELH
KDP	0.75	0.72	0.44		0.62	0.88	-0.25	0.0	-0.34	KDP
PEP	0.31	0.51	0.33	0.62		0.41	0.25	0.0	-0.32	PEP
KOF	0.92	0.77	0.37	0.88	0.41		-0.53	0.0	-0.26	KOF
FIZZ	-0.69	-0.16	0.17	-0.25	0.25	-0.53		0.0	-0.15	FIZZ
PRMW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PRMW
COCO	-0.12	-0.55	-0.4	-0.34	-0.32	-0.26	-0.15	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

KOF	+ 0.92	KO
KOF	+ 0.88	KDP
KOF	+ 0.77	MNST
KDP	+ 0.75	KO
KDP	+ 0.72	MNST
CELH	+ 0.7	MNST

High negative correlations

FIZZ	- 0.69	KO
COCO	- 0.55	MNST
FIZZ	- 0.53	KOF
COCO	- 0.4	CELH
COCO	- 0.34	KDP
COCO	- 0.32	PEP

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	0.92	0.16	0.18	1.22	0.88	(1.02)	1.87	(1.53)	7.65
MNST	1.06	0.16	0.15	0.70	1.11	(1.13)	2.80	(1.87)	6.76
CELH	3.53	0.33	0.09	0.75	3.98	(4.21)	7.75	(5.49)	42.08
KDP	1.06	0.01	0.03	0.28	1.34	(1.15)	2.18	(2.38)	6.15
PEP	1.07	(0.08)	0.00	(0.56)	0.00	0.00	1.85	(2.73)	8.20
KOF	1.06	0.14	0.14	0.50	1.12	(1.26)	2.34	(2.10)	7.02
FIZZ	1.10	(0.28)	0.00	1.07	0.00	0.00	2.10	(2.23)	7.80
PRMW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COCO	1.65	0.03	0.01	0.00	2.85	(1.61)	4.21	(4.42)	19.52

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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