Hershey Correlations

HSY Stock

USD 167.35 2.07 1.22%

The correlation of Hershey 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.

Hershey Correlation With Market

Good diversification

The correlation between Hershey Co and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hershey Co and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hershey Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Hershey Stock

0.64	MO	Altria Group	Pair Corr
0.68	TR	Tootsie Roll Industries	Pair Corr
0.69	DOLE	Dole PLC	Pair Corr
0.74	BGS	BG Foods	Pair Corr
0.68	BUD	Anheuser Busch Inbev	Pair Corr
0.74	CPB	Campbell Soup	Pair Corr
0.7	GIS	General Mills	Pair Corr
0.9	KHC	Kraft Heinz	Pair Corr
0.86	KLG	WK Kellogg Downward Rally	Pair Corr
0.74	MKC	McCormick Company Earnings Call This Week	Pair Corr

Moving against Hershey Stock

0.67	VITL	Vital Farms Sell-off Trend	Pair Corr
0.64	FRPT	Freshpet	Pair Corr
0.48	BOF	BranchOut Food Common	Pair Corr
0.47	EDBL	Edible Garden AG	Pair Corr
0.39	DAR	Darling Ingredients	Pair Corr
0.44	THS	Treehouse Foods	Pair Corr

Related Correlations Analysis

	TR	RMCF	LDSVF	TROLB	MDLZ	PEFDF
TR		-0.13	0.49	0.0	0.63	0.32	TR
RMCF	-0.13		-0.76	0.0	-0.55	0.66	RMCF
LDSVF	0.49	-0.76		0.0	0.84	-0.41	LDSVF
TROLB	0.0	0.0	0.0		0.0	0.0	TROLB
MDLZ	0.63	-0.55	0.84	0.0		-0.11	MDLZ
PEFDF	0.32	0.66	-0.41	0.0	-0.11		PEFDF
	TR	RMCF	LDSVF	TROLB	MDLZ	PEFDF

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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

MDLZ	+ 0.84	LDSVF
PEFDF	+ 0.66	RMCF
MDLZ	+ 0.63	TR
LDSVF	+ 0.49	TR
PEFDF	+ 0.32	TR
TROLB	+ 0.0	TR

High negative correlations

LDSVF	- 0.76	RMCF
MDLZ	- 0.55	RMCF
PEFDF	- 0.41	LDSVF
RMCF	- 0.13	TR
PEFDF	- 0.11	MDLZ
PEFDF	- 0.0	TROLB

Risk-Adjusted Indicators

There is a big difference between Hershey Stock performing well and Hershey 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 Hershey'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
TR	1.21	0.02	0.06	0.09	1.86	(1.13)	2.57	(2.96)	7.34
RMCF	2.81	(1.16)	0.00	1.37	0.00	0.00	4.04	(7.33)	30.03
LDSVF	1.20	0.32	0.18	0.75	1.02	(2.76)	3.23	(2.02)	15.56
TROLB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDLZ	1.18	0.09	0.11	1.19	1.62	(1.21)	2.40	(2.74)	8.25
PEFDF	1.14	(0.24)	0.00	0.30	0.00	0.00	2.99	(3.51)	17.57

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