Nomad Foods Correlations

NOMD Stock

USD 19.57 0.09 0.46%

The current 90-days correlation between Nomad Foods and Lancaster Colony is 0.23 (i.e., Modest diversification). The correlation of Nomad Foods 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.

Nomad Foods Correlation With Market

Significant diversification

The correlation between Nomad Foods and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nomad Foods 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 Nomad Foods. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

For information on how to trade Nomad Stock refer to our How to Trade Nomad Stock guide.

Moving together with Nomad Stock

0.88	K	Kellanova	Pair Corr
0.78	FARM	Farmer Bros	Pair Corr
0.9	WYHG	Wing Yip Food	Pair Corr
0.68	DDC	DDC Enterprise	Pair Corr
0.69	HLF	Herbalife Nutrition	Pair Corr
0.84	JVA	Coffee Holding	Pair Corr
0.64	KHC	Kraft Heinz	Pair Corr
0.79	KLG	WK Kellogg Downward Rally	Pair Corr
0.91	MKC	McCormick Company Earnings Call This Week	Pair Corr
0.83	PPC	Pilgrims Pride Corp	Pair Corr
0.65	SJM	JM Smucker	Pair Corr
0.7	PAVS	Paranovus Entertainment	Pair Corr

Moving against Nomad Stock

0.9	FRPT	Freshpet	Pair Corr
0.89	LW	Lamb Weston Holdings	Pair Corr
0.84	BON	Bon Natural Life	Pair Corr
0.82	FAMI	Farmmi Inc	Pair Corr
0.82	IMG	CIMG Inc Symbol Change	Pair Corr
0.81	NAII	Natural Alternatives	Pair Corr
0.72	FTLF	FitLife Brands, Common	Pair Corr
0.59	ORIS	Oriental Rise Holdings	Pair Corr
0.53	HRL	Hormel Foods	Pair Corr
0.33	DAR	Darling Ingredients	Pair Corr
0.92	BRCC	BRC Inc	Pair Corr
0.89	STKH	Steakholder Foods	Pair Corr
0.87	RKDA	Arcadia Biosciences Earnings Call This Week	Pair Corr
0.84	PLAG	Planet Green Holdings	Pair Corr
0.84	HCWC	Healthy Choice Wellness	Pair Corr
0.81	THS	Treehouse Foods	Pair Corr
0.78	LSF	Laird Superfood	Pair Corr
0.78	JBSS	John B Sanfilippo	Pair Corr
0.74	HAIN	Hain Celestial	Pair Corr
0.66	STKL	SunOpta	Pair Corr

Related Correlations Analysis

	LANC	THS	JBSS	SENEA	SENEB	BRBR	PPC	INGR	JJSF	CENT
LANC		-0.49	-0.73	0.62	-0.69	-0.2	0.87	-0.63	-0.58	0.08	LANC
THS	-0.49		0.67	-0.79	0.42	0.7	-0.63	0.44	0.49	0.37	THS
JBSS	-0.73	0.67		-0.58	0.47	0.29	-0.79	0.69	0.78	0.11	JBSS
SENEA	0.62	-0.79	-0.58		-0.5	-0.68	0.72	-0.22	-0.21	-0.12	SENEA
SENEB	-0.69	0.42	0.47	-0.5		0.34	-0.79	0.38	0.34	0.42	SENEB
BRBR	-0.2	0.7	0.29	-0.68	0.34		-0.41	0.11	0.06	0.51	BRBR
PPC	0.87	-0.63	-0.79	0.72	-0.79	-0.41		-0.57	-0.61	-0.19	PPC
INGR	-0.63	0.44	0.69	-0.22	0.38	0.11	-0.57		0.83	0.1	INGR
JJSF	-0.58	0.49	0.78	-0.21	0.34	0.06	-0.61	0.83		0.24	JJSF
CENT	0.08	0.37	0.11	-0.12	0.42	0.51	-0.19	0.1	0.24		CENT
	LANC	THS	JBSS	SENEA	SENEB	BRBR	PPC	INGR	JJSF	CENT

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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

PPC	+ 0.87	LANC
JJSF	+ 0.83	INGR
JJSF	+ 0.78	JBSS
PPC	+ 0.72	SENEA
BRBR	+ 0.7	THS
INGR	+ 0.69	JBSS

High negative correlations

PPC	- 0.79	SENEB
PPC	- 0.79	JBSS
SENEA	- 0.79	THS
JBSS	- 0.73	LANC
SENEB	- 0.69	LANC
BRBR	- 0.68	SENEA

Risk-Adjusted Indicators

There is a big difference between Nomad Stock performing well and Nomad Foods 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 Nomad Foods' 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
LANC	1.27	(0.02)	0.00	(0.44)	0.00	0.00	2.19	(2.50)	11.71
THS	1.55	(0.33)	0.00	(1.01)	0.00	0.00	2.10	(3.65)	13.25
JBSS	1.36	(0.31)	0.00	(4.18)	0.00	0.00	2.11	(3.18)	13.09
SENEA	1.25	0.21	0.18	(0.89)	1.36	(1.39)	3.55	(2.36)	7.02
SENEB	2.57	0.46	0.11	(2.05)	2.54	(4.87)	7.46	(5.99)	18.81
BRBR	1.54	(0.17)	0.00	0.21	0.00	0.00	2.91	(4.16)	10.54
PPC	1.64	0.16	0.11	4.86	1.90	(1.70)	3.62	(3.21)	9.58
INGR	0.93	(0.06)	0.00	(0.77)	0.00	0.00	1.48	(1.86)	6.81
JJSF	1.30	(0.36)	0.00	1.99	0.00	0.00	2.51	(3.31)	9.16
CENT	1.48	(0.17)	0.00	0.49	0.00	0.00	2.65	(2.67)	14.60

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