Coca Cola Correlations

CCEP Stock

USD 83.93 5.89 6.56%

The current 90-days correlation between Coca Cola European and Coca Cola Femsa SAB is 0.16 (i.e., Average diversification). The correlation of Coca Cola 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.

Coca Cola Correlation With Market

Weak diversification

The correlation between Coca Cola European Partners and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coca Cola European Partners and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Coca Cola European Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Coca Stock

0.95	KO	Coca Cola	Pair Corr
0.81	KDP	Keurig Dr Pepper	Pair Corr
0.9	KOF	Coca Cola Femsa	Pair Corr
0.61	PRMB	Primo Brands	Pair Corr
0.88	K	Kellanova Sell-off Trend	Pair Corr
0.74	BJ	BJs Wholesale Club	Pair Corr
0.62	DG	Dollar General	Pair Corr
0.82	KR	Kroger Company	Pair Corr
0.78	MO	Altria Group	Pair Corr
0.66	PG	Procter Gamble Downward Rally	Pair Corr
0.96	PM	Philip Morris Intern	Pair Corr
0.79	DOLE	Dole PLC	Pair Corr
0.76	BRLSW	Borealis Foods	Pair Corr

Moving against Coca Stock

0.81	ZVIA	Zevia Pbc	Pair Corr
0.75	LW	Lamb Weston Holdings Sell-off Trend	Pair Corr
0.64	FIZZ	National Beverage Corp	Pair Corr
0.64	STKL	SunOpta	Pair Corr
0.6	GO	Grocery Outlet Holding	Pair Corr
0.57	FC	Franklin Covey	Pair Corr
0.54	EL	Estee Lauder Companies	Pair Corr
0.45	BG	Bunge Limited	Pair Corr
0.86	XAGE	Longevity Health Hol Symbol Change	Pair Corr
0.82	DTCK	Davis Commodities	Pair Corr
0.82	VITL	Vital Farms Sell-off Trend	Pair Corr
0.76	FAMI	Farmmi Inc	Pair Corr
0.73	EDBL	Edible Garden AG	Pair Corr
0.62	CLX	Clorox	Pair Corr
0.6	ADM	Archer Daniels Midland	Pair Corr
0.55	AVO	Mission Produce	Pair Corr
0.46	AQB	AquaBounty Technologies	Pair Corr

Related Correlations Analysis

	COCO	PRMW	KOF	AKO-B	FIZZ	AKO-A	KDP	MNST	PEP
COCO		0.0	-0.52	-0.36	-0.33	-0.4	-0.54	-0.71	-0.31	COCO
PRMW	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	PRMW
KOF	-0.52	0.0		0.85	-0.42	0.84	0.94	0.84	0.45	KOF
AKO-B	-0.36	0.0	0.85		-0.53	0.91	0.76	0.66	0.28	AKO-B
FIZZ	-0.33	0.0	-0.42	-0.53		-0.43	-0.29	-0.03	0.1	FIZZ
AKO-A	-0.4	0.0	0.84	0.91	-0.43		0.75	0.7	0.26	AKO-A
KDP	-0.54	0.0	0.94	0.76	-0.29	0.75		0.82	0.55	KDP
MNST	-0.71	0.0	0.84	0.66	-0.03	0.7	0.82		0.45	MNST
PEP	-0.31	0.0	0.45	0.28	0.1	0.26	0.55	0.45		PEP
	COCO	PRMW	KOF	AKO-B	FIZZ	AKO-A	KDP	MNST	PEP

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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

KDP	+ 0.94	KOF
AKO-A	+ 0.91	AKO-B
AKO-B	+ 0.85	KOF
AKO-A	+ 0.84	KOF
MNST	+ 0.84	KOF
MNST	+ 0.82	KDP

High negative correlations

MNST	- 0.71	COCO
KDP	- 0.54	COCO
FIZZ	- 0.53	AKO-B
KOF	- 0.52	COCO
AKO-A	- 0.43	FIZZ
FIZZ	- 0.42	KOF

Risk-Adjusted Indicators

There is a big difference between Coca Stock performing well and Coca Cola 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 Coca Cola'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	2.13	(0.31)	0.00	(0.71)	0.00	0.00	4.21	(5.52)	19.52
PRMW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KOF	1.11	0.32	0.42	8.48	0.86	(1.36)	2.60	(1.88)	7.02
AKO-B	1.95	0.44	0.18	1.14	2.48	(2.11)	4.11	(4.59)	11.26
FIZZ	1.21	(0.03)	0.12	(0.04)	1.42	(1.31)	2.25	(1.90)	7.80
AKO-A	2.26	0.39	0.12	0.39	2.66	(3.05)	5.73	(4.98)	17.49
KDP	1.09	0.16	0.23	(1.79)	1.32	(1.15)	2.20	(2.36)	6.16
MNST	1.05	0.17	0.26	(1.48)	1.10	(1.10)	2.80	(1.87)	6.76
PEP	1.10	0.00	0.00	(0.16)	0.00	0.00	2.13	(2.83)	8.20

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