Coca Cola Correlations

CCEP Stock

USD 95.52 0.07 0.07%

The current 90-days correlation between Coca Cola European and Morningstar Unconstrained Allocation is -0.21 (i.e., Very good 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 0.37 (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.

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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

0.61	MNST	Monster Beverage Corp	Pair Corr
0.86	OTLY	Oatly Group AB	Pair Corr
0.78	CELH	Celsius Holdings Sell-off Trend	Pair Corr
0.74	COCO	Vita Coco	Pair Corr
0.86	DG	Dollar General	Pair Corr
0.86	EL	Estee Lauder Companies	Pair Corr
0.7	IH	Ihuman Inc	Pair Corr
0.66	MDLZ	Mondelez International	Pair Corr
0.75	MO	Altria Group	Pair Corr
0.86	PM	Philip Morris Intern	Pair Corr
0.79	TR	Tootsie Roll Industries	Pair Corr
0.76	YQ	17 Education Technology	Pair Corr
0.9	DLTR	Dollar Tree	Pair Corr

Moving against Coca Stock

0.83	SHOTW	Safety Shot	Pair Corr
0.74	PRMB	Primo Brands	Pair Corr
0.61	COKE	Coca Cola Consolidated	Pair Corr
0.56	K	Kellanova	Pair Corr
0.55	BJ	BJs Wholesale Club Sell-off Trend	Pair Corr
0.48	SHOT	Safety Shot	Pair Corr
0.43	GV	Visionary Education	Pair Corr
0.42	GO	Grocery Outlet Holding	Pair Corr
0.33	PEP	PepsiCo Earnings Call This Week	Pair Corr
0.8	EEIQ	Elite Education Group	Pair Corr
0.74	JZ	Jianzhi Education	Pair Corr
0.57	EDTK	Skillful Craftsman	Pair Corr
0.56	DNUT	Krispy Kreme	Pair Corr
0.33	VSTA	Vasta Platform	Pair Corr

Related Correlations Analysis

	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL	SEGI	SEGG
MSTSX		0.97	0.97	1.0	0.0	-0.39	-0.21	0.95	-0.1	0.59	MSTSX
LBHIX	0.97		0.97	0.98	0.0	-0.39	-0.2	0.95	-0.11	0.58	LBHIX
VIASP	0.97	0.97		0.97	0.0	-0.43	-0.3	0.97	-0.1	0.64	VIASP
RRTLX	1.0	0.98	0.97		0.0	-0.38	-0.21	0.96	-0.13	0.59	RRTLX
OSHDF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	OSHDF
70082LAB3	-0.39	-0.39	-0.43	-0.38	0.0		0.68	-0.47	-0.11	-0.25	70082LAB3
SITKF	-0.21	-0.2	-0.3	-0.21	0.0	0.68		-0.3	-0.15	-0.23	SITKF
RWAYL	0.95	0.95	0.97	0.96	0.0	-0.47	-0.3		-0.06	0.69	RWAYL
SEGI	-0.1	-0.11	-0.1	-0.13	0.0	-0.11	-0.15	-0.06		0.14	SEGI
SEGG	0.59	0.58	0.64	0.59	0.0	-0.25	-0.23	0.69	0.14		SEGG
	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF	RWAYL	SEGI	SEGG

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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

RRTLX	+ 1.0	MSTSX
RRTLX	+ 0.98	LBHIX
LBHIX	+ 0.97	MSTSX
VIASP	+ 0.97	MSTSX
VIASP	+ 0.97	LBHIX
RRTLX	+ 0.97	VIASP

High negative correlations

RWAYL	- 0.47	70082LAB3
70082LAB3	- 0.43	VIASP
70082LAB3	- 0.39	LBHIX
70082LAB3	- 0.39	MSTSX
70082LAB3	- 0.38	RRTLX
RWAYL	- 0.3	SITKF

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
MSTSX	0.70	0.34	0.03	(0.83)	0.54	(0.81)	1.87	(1.48)	10.06
LBHIX	0.19	0.06	(0.51)	0.90	0.00	(0.32)	0.49	(0.24)	1.23
VIASP	0.56	0.18	(0.09)	(7.79)	0.39	(0.69)	1.25	(0.86)	4.38
RRTLX	0.32	0.14	(0.22)	(0.84)	0.17	(0.39)	0.82	(0.76)	4.11
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
70082LAB3	1.54	(0.01)	0.00	0.25	0.00	0.00	2.55	(4.54)	20.47
SITKF	3.15	0.42	0.02	(0.96)	3.63	(4.87)	8.33	(6.98)	23.19
RWAYL	0.15	0.06	(0.88)	(2.01)	0.00	(0.21)	0.36	(0.28)	1.01
SEGI	9.81	0.23	0.03	0.34	10.49	(21.01)	20.00	(25.00)	65.00
SEGG	7.39	1.85	0.23	(1.23)	5.02	(11.69)	13.64	(7.98)	146.03

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