Fomento Economico Correlations

FMX Stock

USD 96.04 1.06 1.09%

The correlation of Fomento Economico 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.

Fomento Economico Correlation With Market

Average diversification

The correlation between Fomento Economico Mexicano and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fomento Economico Mexicano 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 Fomento Economico Mexicano. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Fomento Stock

0.81	K	Kellanova Earnings Call This Week	Pair Corr
0.94	MO	Altria Group	Pair Corr
0.85	PM	Philip Morris Intern	Pair Corr
0.8	DOLE	Dole PLC	Pair Corr
0.64	FARM	Farmer Bros	Pair Corr
0.7	BTI	British American Tobacco	Pair Corr
0.96	BUD	Anheuser Busch Inbev	Pair Corr
0.96	CCU	Compania Cervecerias	Pair Corr
0.63	JVA	Coffee Holding	Pair Corr
0.76	KLG	WK Kellogg	Pair Corr
0.82	MKC	McCormick Company Sell-off Trend	Pair Corr
0.69	PPC	Pilgrims Pride Corp	Pair Corr

Moving against Fomento Stock

0.88	FAMI	Farmmi Inc	Pair Corr
0.85	VITL	Vital Farms	Pair Corr
0.83	BON	Bon Natural Life	Pair Corr
0.82	EDBL	Edible Garden AG	Pair Corr
0.68	LW	Lamb Weston Holdings Earnings Call This Week	Pair Corr
0.55	ADM	Archer Daniels Midland	Pair Corr
0.45	BG	Bunge Limited	Pair Corr
0.91	FRPT	Freshpet	Pair Corr
0.86	FTFT	Future Fintech Group	Pair Corr
0.6	FLO	Flowers Foods	Pair Corr
0.56	FDP	Fresh Del Monte	Pair Corr
0.51	DAR	Darling Ingredients	Pair Corr
0.44	HRL	Hormel Foods	Pair Corr
0.88	THS	Treehouse Foods	Pair Corr
0.79	LSF	Laird Superfood	Pair Corr
0.75	TWG	Top Wealth Group	Pair Corr
0.68	VFF	Village Farms Intern	Pair Corr
0.62	SAM	Boston Beer	Pair Corr
0.37	STZ	Constellation Brands	Pair Corr

Related Correlations Analysis

	ABEV	SAM	KNBWY	CABGY	TAP	CCU	BUD	HEINY	STBFY	BUDFF
ABEV		-0.44	0.0	0.85	0.65	0.92	0.94	0.79	0.8	0.95	ABEV
SAM	-0.44		0.0	-0.74	-0.19	-0.71	-0.53	-0.58	0.02	-0.5	SAM
KNBWY	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	KNBWY
CABGY	0.85	-0.74	0.0		0.71	0.96	0.94	0.94	0.57	0.92	CABGY
TAP	0.65	-0.19	0.0	0.71		0.62	0.76	0.85	0.64	0.74	TAP
CCU	0.92	-0.71	0.0	0.96	0.62		0.95	0.87	0.62	0.94	CCU
BUD	0.94	-0.53	0.0	0.94	0.76	0.95		0.92	0.76	0.99	BUD
HEINY	0.79	-0.58	0.0	0.94	0.85	0.87	0.92		0.59	0.9	HEINY
STBFY	0.8	0.02	0.0	0.57	0.64	0.62	0.76	0.59		0.77	STBFY
BUDFF	0.95	-0.5	0.0	0.92	0.74	0.94	0.99	0.9	0.77		BUDFF
	ABEV	SAM	KNBWY	CABGY	TAP	CCU	BUD	HEINY	STBFY	BUDFF

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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

BUDFF	+ 0.99	BUD
CCU	+ 0.96	CABGY
BUDFF	+ 0.95	ABEV
BUD	+ 0.95	CCU
BUD	+ 0.94	ABEV
BUD	+ 0.94	CABGY

High negative correlations

CABGY	- 0.74	SAM
CCU	- 0.71	SAM
HEINY	- 0.58	SAM
BUD	- 0.53	SAM
BUDFF	- 0.5	SAM
SAM	- 0.44	ABEV

Risk-Adjusted Indicators

There is a big difference between Fomento Stock performing well and Fomento Economico 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 Fomento Economico'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
ABEV	1.43	0.25	0.13	1.17	1.58	(1.64)	3.39	(2.59)	8.63
SAM	1.51	(0.41)	0.00	(0.54)	0.00	0.00	2.86	(2.89)	8.87
KNBWY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CABGY	1.22	0.40	0.30	(2.41)	0.83	(1.33)	3.36	(1.69)	10.15
TAP	1.37	0.01	0.00	0.01	1.79	(1.47)	2.72	(3.11)	13.51
CCU	1.03	0.47	0.32	2.60	0.85	(1.21)	2.38	(1.67)	8.78
BUD	1.04	0.27	0.16	0.97	1.31	(1.13)	2.29	(1.99)	9.20
HEINY	1.27	0.17	0.12	0.99	1.26	(1.52)	2.34	(2.05)	17.85
STBFY	0.92	0.01	0.00	0.04	1.13	(1.00)	1.61	(1.83)	4.69
BUDFF	1.23	0.24	0.14	(0.92)	1.44	(1.40)	2.57	(2.70)	10.21

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