Kellanova Correlations

K Stock

USD 82.69 0.03 0.04%

The current 90-days correlation between Kellanova and Campbell Soup is 0.33 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kellanova moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kellanova moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Kellanova Correlation With Market

Good diversification

The correlation between Kellanova and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kellanova and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Kellanova Stock please use our How to buy in Kellanova Stock guide.

Moving together with Kellanova Stock

0.72	PM	Philip Morris Intern	Pair Corr
0.67	BOF	BranchOut Food Common	Pair Corr
0.64	BTI	British American Tobacco	Pair Corr
0.83	UG	United Guardian	Pair Corr
0.67	YQ	17 Education Technology	Pair Corr

Moving against Kellanova Stock

0.77	LWAY	Lifeway Foods	Pair Corr
0.72	JBSS	John B Sanfilippo	Pair Corr
0.58	SAM	Boston Beer	Pair Corr
0.48	UVV	Universal	Pair Corr
0.42	TSN	Tyson Foods	Pair Corr
0.37	KLG	WK Kellogg	Pair Corr
0.83	LW	Lamb Weston Holdings	Pair Corr
0.78	BG	Bunge Limited	Pair Corr
0.76	CVGW	Calavo Growers	Pair Corr
0.7	OTLY	Oatly Group AB	Pair Corr
0.59	TR	Tootsie Roll Industries	Pair Corr
0.49	GO	Grocery Outlet Holding	Pair Corr
0.48	EL	Estee Lauder Companies	Pair Corr
0.35	FC	Franklin Covey	Pair Corr
0.32	CL	Colgate Palmolive	Pair Corr
0.76	DNUT	Krispy Kreme	Pair Corr
0.71	EEIQ	Elite Education Group	Pair Corr
0.57	CENTA	Central Garden Pet	Pair Corr
0.45	DOLE	Dole PLC Earnings Call Tomorrow	Pair Corr
0.45	WEST	Westrock Coffee	Pair Corr

Related Correlations Analysis

	CPB	CAG	HRL	KHC	GIS	SJM	LW	MKC
CPB		0.85	0.79	0.91	0.94	0.94	0.8	0.45	CPB
CAG	0.85		0.88	0.8	0.93	0.84	0.78	0.35	CAG
HRL	0.79	0.88		0.72	0.89	0.74	0.84	0.29	HRL
KHC	0.91	0.8	0.72		0.9	0.94	0.67	0.69	KHC
GIS	0.94	0.93	0.89	0.9		0.94	0.86	0.52	GIS
SJM	0.94	0.84	0.74	0.94	0.94		0.76	0.62	SJM
LW	0.8	0.78	0.84	0.67	0.86	0.76		0.31	LW
MKC	0.45	0.35	0.29	0.69	0.52	0.62	0.31		MKC
	CPB	CAG	HRL	KHC	GIS	SJM	LW	MKC

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Risk-Adjusted Indicators

There is a big difference between Kellanova Stock performing well and Kellanova 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 Kellanova'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
CPB	1.22	(0.17)	0.00	(0.78)	0.00	0.00	2.46	(3.23)	6.52
CAG	1.21	(0.05)	0.00	(1.71)	0.00	0.00	2.26	(2.48)	8.53
HRL	1.05	(0.12)	0.00	(0.51)	0.00	0.00	2.71	(2.03)	6.26
KHC	1.20	0.01	0.00	0.04	1.54	(1.25)	2.95	(3.04)	6.83
GIS	1.11	(0.09)	0.00	(0.37)	0.00	0.00	2.09	(3.05)	5.07
SJM	1.25	(0.07)	0.00	(0.60)	0.00	0.00	2.60	(2.40)	5.88
LW	1.99	(0.60)	0.00	1.41	0.00	0.00	3.72	(4.99)	26.89
MKC	1.05	0.11	0.09	0.29	1.16	(1.23)	2.75	(2.14)	7.38

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