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Correlation Between Campbell Soup and Kellogg

Analyzing existing cross correlation between Campbell Soup Company and Kellogg Company. You can compare the effects of market volatilities on Campbell Soup and Kellogg and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Campbell Soup with a short position of Kellogg. Check out your portfolio center. Please also check ongoing floating volatility patterns of Campbell Soup and Kellogg.

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Diversification Opportunities for Campbell Soup and Kellogg

Campbell Soup Company diversification synergy
0.51
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Very weak diversification

The 3 months correlation between Campbell and Kellogg is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Campbell Soup Company and Kellogg Company in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kellogg Company and Campbell Soup is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Campbell Soup Company are associated (or correlated) with Kellogg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kellogg Company has no effect on the direction of Campbell Soup i.e. Campbell Soup and Kellogg go up and down completely randomly.

Pair Corralation between Campbell Soup and Kellogg

Considering 30-days investment horizon, Campbell Soup Company is expected to generate 0.99 times more return on investment than Kellogg. However, Campbell Soup Company is 1.02 times less risky than Kellogg. It trades about 0.01 of its potential returns per unit of risk. Kellogg Company is currently generating about -0.03 per unit of risk. If you would invest  4,843  in Campbell Soup Company on March 3, 2020 and sell it today you would lose (98.00)  from holding Campbell Soup Company or give up 2.02% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthWeak
Accuracy100.0%
ValuesDaily Returns

Campbell Soup Company  vs.  Kellogg Company

 Performance (%) 
    
  Timeline 
Campbell Soup 
00

Campbell Soup Risk-Adjusted Performance

Over the last 30 days Campbell Soup Company has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, Campbell Soup is not utilizing all of its potentials. The latest stock price disturbance, may contribute to short term losses for the investors.
Kellogg Company 
00

Kellogg Risk-Adjusted Performance

Over the last 30 days Kellogg Company has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of latest weak performance, the Stock's technical and fundamental indicators remain consistent and the prevailing confusion on Wall Street may also be a sign of long-lasting gains for the organization traders.

Campbell Soup and Kellogg Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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