Hershey Correlations

Stocks . USA . 
Stock . Hershey Co
HSY Stock  USD 178.65  0.81  0.46%   
The current 90-days correlation between Hershey and Chocoladefabriken Lindt Sprngli is -0.08 (i.e., Good diversification). 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 -0.05 (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

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  0.76TR Tootsie Roll IndustriesPairCorr
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Moving against Hershey Stock

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  0.31EDBL Edible Garden AGPairCorr

Related Correlations Analysis

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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
+ 0.7
TR
MDLZ
+ 0.66
LDSVF
PEFDF
+ 0.38
RMCF
PEFDF
+ 0.35
MDLZ
LDSVF
+ 0.32
TR
RMCF
+ 0.21
TR
  
High negative correlations   
LDSVF
- 0.46
RMCF
MDLZ
- 0.08
RMCF
PEFDF
- 0.0
TROLB
MDLZ
- 0.0
TROLB
TROLB
- 0.0
LDSVF
TROLB
- 0.0
RMCF

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.

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