Correlation Analysis Between Kraft Heinz and Kellogg

Analyzing existing cross correlation between The Kraft Heinz Company and Kellogg Company. You can compare the effects of market volatilities on Kraft Heinz 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 Kraft Heinz with a short position of Kellogg. See also your portfolio center. Please also check ongoing floating volatility patterns of Kraft Heinz and Kellogg.
Horizon     30 Days    Login   to change
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Comparative Performance

Kraft Heinz  
44

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in The Kraft Heinz Company are ranked lower than 4 (%) of all global equities and portfolios over the last 30 days. Despite somewhat unsteady basic indicators, Kraft Heinz may actually be approaching a critical reversion point that can send shares even higher in February 2020.
Kellogg Company  
1616

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kellogg Company are ranked lower than 16 (%) of all global equities and portfolios over the last 30 days. Regardless of fairly unsteady technical and fundamental indicators, Kellogg demonstrated solid returns over the last few months and may actually be approaching a breakup point.

Kraft Heinz and Kellogg Volatility Contrast

 Predicted Return Density 
    
  Returns 

The Kraft Heinz Company  vs.  Kellogg Company

 Performance (%) 
    
  Timeline 

Pair Volatility

Considering 30-days investment horizon, Kraft Heinz is expected to generate 1.51 times less return on investment than Kellogg. In addition to that, Kraft Heinz is 2.66 times more volatile than Kellogg Company. It trades about 0.06 of its total potential returns per unit of risk. Kellogg Company is currently generating about 0.25 per unit of volatility. If you would invest  6,106  in Kellogg Company on December 26, 2019 and sell it today you would earn a total of  828.00  from holding Kellogg Company or generate 13.56% return on investment over 30 days.

Pair Corralation between Kraft Heinz and Kellogg

0.29
Time Period3 Months [change]
DirectionPositive 
StrengthVery Weak
Accuracy98.39%
ValuesDaily Returns

Diversification Opportunities for Kraft Heinz and Kellogg

The Kraft Heinz Company diversification synergy

Modest diversification

Overlapping area represents the amount of risk that can be diversified away by holding The Kraft Heinz Company and Kellogg Company in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kellogg Company and Kraft Heinz 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 The Kraft Heinz 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 Kraft Heinz i.e. Kraft Heinz and Kellogg go up and down completely randomly.
See also your portfolio center. Please also try Headlines Timeline module to stay connected to all market stories and filter out noise. drill down to analyze hype elasticity.