HEINEKEN Correlations

HNK2 Stock

EUR 34.20 0.40 1.16%

The current 90-days correlation between HEINEKEN SP ADR and Salesforce is -0.1 (i.e., Good diversification). The correlation of HEINEKEN 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.

HEINEKEN Correlation With Market

Good diversification

The correlation between HEINEKEN SP ADR and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HEINEKEN SP ADR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to HEINEKEN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace HEINEKEN when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back HEINEKEN - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling HEINEKEN SP ADR to buy it.

Moving together with HEINEKEN Stock

0.82	FOMC	FOMECONMEXSAB DCV UTS	Pair Corr
0.99	HNK1	Heineken NV	Pair Corr
0.98	4H5	Heineken Holding	Pair Corr
0.85	CBGB	Carlsberg A/S	Pair Corr
0.89	CBGA	Carlsberg A/S	Pair Corr
0.84	ABW	Asahi Group Holdings	Pair Corr
0.84	KIR	Kirin Holdings	Pair Corr
0.62	5TI	TINC Comm VA	Pair Corr
0.87	ADC	AdCapital AG	Pair Corr

Moving against HEINEKEN Stock

0.93	LIE	Sun Life Financial	Pair Corr
0.85	74G	DIVIDEND GROWTH SPLIT	Pair Corr
0.42	E908	Lyxor 1	Pair Corr
0.39	LPS1	Lenox Pasifik Investama	Pair Corr
0.32	TSI	Tsingtao Brewery	Pair Corr

Related Correlations Analysis

	FOO	2XT	FR7	MTE	CPW	FOO0	CNJ
FOO		0.78	0.48	0.67	-0.15	0.99	0.05	FOO
2XT	0.78		0.18	0.34	-0.27	0.77	0.34	2XT
FR7	0.48	0.18		0.69	0.55	0.49	-0.13	FR7
MTE	0.67	0.34	0.69		0.24	0.65	-0.42	MTE
CPW	-0.15	-0.27	0.55	0.24		-0.15	-0.14	CPW
FOO0	0.99	0.77	0.49	0.65	-0.15		0.08	FOO0
CNJ	0.05	0.34	-0.13	-0.42	-0.14	0.08		CNJ
	FOO	2XT	FR7	MTE	CPW	FOO0	CNJ

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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

FOO0	+ 0.99	FOO
2XT	+ 0.78	FOO
FOO0	+ 0.77	2XT
MTE	+ 0.69	FR7
MTE	+ 0.67	FOO
FOO0	+ 0.65	MTE

High negative correlations

CNJ	- 0.42	MTE
CPW	- 0.27	2XT
FOO0	- 0.15	CPW
CPW	- 0.15	FOO
CNJ	- 0.14	CPW
CNJ	- 0.13	FR7

Risk-Adjusted Indicators

There is a big difference between HEINEKEN Stock performing well and HEINEKEN 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 HEINEKEN'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
FOO	1.35	0.44	0.24	1.27	0.99	(1.56)	4.15	(2.26)	12.42
2XT	1.63	0.10	0.03	0.28	1.82	(1.99)	3.49	(3.87)	12.35
FR7	1.48	0.13	0.02	0.59	1.79	(1.53)	3.09	(2.98)	10.32
MTE	2.34	0.13	0.00	(1.80)	2.89	(2.40)	4.81	(3.89)	18.79
CPW	1.22	0.00	(0.04)	0.18	2.75	(1.13)	2.42	(1.77)	16.36
FOO0	1.53	0.26	0.16	0.34	1.28	(2.11)	4.02	(2.21)	14.96
CNJ	1.32	0.06	0.00	0.28	1.44	(1.74)	2.78	(2.70)	7.24

Be your own money manager

Our tools can tell you how much better you can do entering a position in HEINEKEN without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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