Monster Beverage Correlations

MNST Stock

USD 57.83 0.52 0.91%

The current 90-days correlation between Monster Beverage Corp and Keurig Dr Pepper is -0.1 (i.e., Good diversification). The correlation of Monster Beverage 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.

Monster Beverage Correlation With Market

Average diversification

The correlation between Monster Beverage Corp and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monster Beverage Corp 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 Monster Beverage Corp. 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 Monster Stock

0.72	KDP	Keurig Dr Pepper	Pair Corr
0.77	KOF	Coca Cola Femsa	Pair Corr
0.7	CELH	Celsius Holdings	Pair Corr
0.66	CL	Colgate Palmolive	Pair Corr
0.75	DG	Dollar General	Pair Corr
0.79	MO	Altria Group	Pair Corr
0.69	TR	Tootsie Roll Industries	Pair Corr
0.74	YI	111 Inc	Pair Corr
0.61	DOLE	Dole PLC	Pair Corr

Moving against Monster Stock

0.77	GO	Grocery Outlet Holding	Pair Corr
0.75	ZVIA	Zevia Pbc	Pair Corr
0.71	FC	Franklin Covey Earnings Call Today	Pair Corr
0.55	COCO	Vita Coco	Pair Corr
0.39	EL	Estee Lauder Companies	Pair Corr
0.37	COKE	Coca Cola Consolidated	Pair Corr
0.37	LW	Lamb Weston Holdings Earnings Call This Week	Pair Corr
0.78	VINE	Fresh Grapes LLC Symbol Change	Pair Corr
0.71	VITL	Vital Farms	Pair Corr
0.68	DNUT	Krispy Kreme	Pair Corr
0.65	IMKTA	Ingles Markets	Pair Corr
0.57	UG	United Guardian Downward Rally	Pair Corr
0.57	DLTR	Dollar Tree	Pair Corr
0.54	FAMI	Farmmi Inc	Pair Corr
0.52	EDBL	Edible Garden AG	Pair Corr
0.47	FEDU	Four Seasons Education Potential Growth	Pair Corr
0.37	DTCK	Davis Commodities	Pair Corr

Related Correlations Analysis

	COCO	PEP	KO	KOF	FIZZ	CELH	KDP	CCEP	PRMW	COKE
COCO		-0.32	-0.12	-0.26	-0.15	-0.4	-0.34	0.01	0.0	0.41	COCO
PEP	-0.32		0.31	0.41	0.25	0.33	0.62	0.2	0.0	-0.29	PEP
KO	-0.12	0.31		0.92	-0.69	0.15	0.75	0.94	0.0	0.39	KO
KOF	-0.26	0.41	0.92		-0.53	0.37	0.88	0.88	0.0	0.15	KOF
FIZZ	-0.15	0.25	-0.69	-0.53		0.17	-0.25	-0.77	0.0	-0.62	FIZZ
CELH	-0.4	0.33	0.15	0.37	0.17		0.44	0.11	0.0	-0.48	CELH
KDP	-0.34	0.62	0.75	0.88	-0.25	0.44		0.71	0.0	0.02	KDP
CCEP	0.01	0.2	0.94	0.88	-0.77	0.11	0.71		0.0	0.52	CCEP
PRMW	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PRMW
COKE	0.41	-0.29	0.39	0.15	-0.62	-0.48	0.02	0.52	0.0		COKE
	COCO	PEP	KO	KOF	FIZZ	CELH	KDP	CCEP	PRMW	COKE

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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

CCEP	+ 0.94	KO
KOF	+ 0.92	KO
KDP	+ 0.88	KOF
CCEP	+ 0.88	KOF
KDP	+ 0.75	KO
CCEP	+ 0.71	KDP

High negative correlations

CCEP	- 0.77	FIZZ
FIZZ	- 0.69	KO
COKE	- 0.62	FIZZ
FIZZ	- 0.53	KOF
COKE	- 0.48	CELH
CELH	- 0.4	COCO

Risk-Adjusted Indicators

There is a big difference between Monster Stock performing well and Monster Beverage 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 Monster Beverage'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
COCO	1.65	0.03	0.01	0.00	2.85	(1.61)	4.21	(4.42)	19.52
PEP	1.07	(0.08)	0.00	(0.56)	0.00	0.00	1.85	(2.73)	8.20
KO	0.92	0.16	0.18	1.22	0.88	(1.02)	1.87	(1.53)	7.65
KOF	1.06	0.14	0.14	0.50	1.12	(1.26)	2.34	(2.10)	7.02
FIZZ	1.10	(0.28)	0.00	1.07	0.00	0.00	2.10	(2.23)	7.80
CELH	3.53	0.33	0.09	0.75	3.98	(4.21)	7.75	(5.49)	42.08
KDP	1.06	0.01	0.03	0.28	1.34	(1.15)	2.18	(2.38)	6.15
CCEP	0.90	0.12	0.13	0.54	1.02	(0.92)	2.09	(1.76)	5.08
PRMW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
COKE	1.59	0.10	0.06	(0.24)	2.26	(1.55)	2.83	(3.42)	10.97

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