Kellanova Correlations

Stocks . USA . 
Stock . Kellanova
K Stock  USD 82.43  0.05  0.06%   
The current 90-days correlation between Kellanova and Campbell Soup is 0.38 (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

Average diversification

The correlation between Kellanova and DJI is 0.12 (i.e., Average 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

  0.61MO Altria Group Sell-off TrendPairCorr
  0.87PM Philip Morris InternPairCorr
  0.7FARM Farmer BrosPairCorr
  0.72BTI British American TobaccoPairCorr
  0.65BUD Anheuser Busch InbevPairCorr
  0.87CCU Compania CerveceriasPairCorr
  0.72DDC DDC EnterprisePairCorr
  0.67FMX Fomento EconomicoPairCorr
  0.8JVA Coffee HoldingPairCorr
  0.65PPC Pilgrims Pride Corp Sell-off TrendPairCorr
  0.84RLX RLX TechnologyPairCorr

Moving against Kellanova Stock

  0.88FDP Fresh Del MontePairCorr
  0.87LW Lamb Weston HoldingsPairCorr
  0.85BON Bon Natural LifePairCorr
  0.74FRPT FreshpetPairCorr
  0.7BG Bunge LimitedPairCorr
  0.7FAMI Farmmi IncPairCorr
  0.63ADM Archer Daniels MidlandPairCorr
  0.56VITL Vital FarmsPairCorr
  0.56CAG ConAgra FoodsPairCorr
  0.49CPB Campbell SoupPairCorr
  0.46EDBL Edible Garden AGPairCorr
  0.9SAM Boston BeerPairCorr
  0.81FLO Flowers FoodsPairCorr
  0.81STZ Constellation BrandsPairCorr
  0.8HRL Hormel FoodsPairCorr
  0.79FTFT Future Fintech GroupPairCorr
  0.79LSF Laird Superfood Downward RallyPairCorr
  0.77UTZ Utz BrandsPairCorr
  0.7THS Treehouse FoodsPairCorr
  0.62TWG Top Wealth GroupPairCorr
  0.48GIS General Mills Earnings Call TodayPairCorr

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   
SJM
+ 0.95
KHC
GIS
+ 0.93
CPB
GIS
+ 0.93
CAG
CAG
+ 0.88
CPB
LW
+ 0.83
HRL
SJM
+ 0.82
GIS
  
High negative correlations   
MKC
- 0.2
LW
MKC
- 0.05
HRL

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.

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