National Beverage Correlations

FIZZ Stock

USD 40.25 0.07 0.17%

The current 90-days correlation between National Beverage Corp and Celsius Holdings is 0.31 (i.e., Weak diversification). The correlation of National Beverage 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.

National Beverage Correlation With Market

Good diversification

The correlation between National Beverage Corp and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding National Beverage Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in National Beverage Corp. 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.

Moving together with National Stock

0.82	BG	Bunge Limited	Pair Corr
0.72	LW	Lamb Weston Holdings Earnings Call This Week	Pair Corr
0.65	DTCK	Davis Commodities	Pair Corr

Moving against National Stock

0.8	K	Kellanova Earnings Call This Week	Pair Corr
0.77	CCEP	Coca Cola European	Pair Corr
0.76	COKE	Coca Cola Consolidated	Pair Corr
0.74	BRFH	Barfresh Food Group	Pair Corr
0.67	KO	Coca Cola Sell-off Trend	Pair Corr
0.67	PRMB	Primo Brands Buyout Trend	Pair Corr
0.67	KR	Kroger Company	Pair Corr
0.65	BJ	BJs Wholesale Club	Pair Corr
0.59	KOF	Coca Cola Femsa	Pair Corr
0.36	KDP	Keurig Dr Pepper Sell-off Trend	Pair Corr
0.36	JZ	Jianzhi Education	Pair Corr
0.83	WVVI	Willamette Valley	Pair Corr
0.78	PM	Philip Morris Intern	Pair Corr
0.78	BRLSW	Borealis Foods	Pair Corr
0.75	YQ	17 Education Technology	Pair Corr
0.57	FARM	Farmer Bros	Pair Corr
0.45	WILC	G Willi Food	Pair Corr
0.44	MO	Altria Group	Pair Corr
0.43	UG	United Guardian	Pair Corr
0.43	YI	111 Inc	Pair Corr
0.34	DOLE	Dole PLC	Pair Corr
0.31	WAFU	Wah Fu Education	Pair Corr

Related Correlations Analysis

	CELH	MNST	KOF	KDP	AKO-B	AKO-A	CCEP	PRMW	COKE
CELH		0.73	0.38	0.47	0.14	0.16	0.15	0.0	-0.4	CELH
MNST	0.73		0.75	0.74	0.46	0.48	0.5	0.0	-0.26	MNST
KOF	0.38	0.75		0.9	0.81	0.76	0.91	0.0	0.3	KOF
KDP	0.47	0.74	0.9		0.63	0.56	0.81	0.0	0.18	KDP
AKO-B	0.14	0.46	0.81	0.63		0.92	0.81	0.0	0.46	AKO-B
AKO-A	0.16	0.48	0.76	0.56	0.92		0.77	0.0	0.44	AKO-A
CCEP	0.15	0.5	0.91	0.81	0.81	0.77		0.0	0.6	CCEP
PRMW	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PRMW
COKE	-0.4	-0.26	0.3	0.18	0.46	0.44	0.6	0.0		COKE
	CELH	MNST	KOF	KDP	AKO-B	AKO-A	CCEP	PRMW	COKE

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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

AKO-A	+ 0.92	AKO-B
CCEP	+ 0.91	KOF
KDP	+ 0.9	KOF
AKO-B	+ 0.81	KOF
CCEP	+ 0.81	KDP
CCEP	+ 0.81	AKO-B

High negative correlations

COKE	- 0.4	CELH
COKE	- 0.26	MNST
COKE	- 0.0	PRMW
PRMW	- 0.0	CCEP
PRMW	- 0.0	AKO-A
PRMW	- 0.0	AKO-B

Risk-Adjusted Indicators

There is a big difference between National Stock performing well and National Beverage 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 National Beverage'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
CELH	3.46	0.41	0.10	2.79	3.92	(4.11)	7.75	(5.45)	42.08
MNST	1.06	0.16	0.12	0.77	1.10	(1.10)	2.80	(1.87)	6.76
KOF	1.07	0.14	0.11	(17.41)	1.12	(1.28)	2.34	(2.10)	7.02
KDP	1.05	0.05	0.03	0.33	1.30	(1.14)	2.18	(2.38)	6.15
AKO-B	1.81	0.41	0.16	(2.73)	1.98	(2.00)	4.11	(4.22)	10.40
AKO-A	2.07	0.30	0.10	1.23	2.16	(3.04)	5.28	(4.72)	13.89
CCEP	0.91	0.12	0.10	0.49	1.00	(0.93)	2.09	(1.76)	5.08
PRMW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COKE	1.61	0.07	0.03	0.08	2.33	(1.52)	2.83	(3.42)	10.97

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