Compania Cervecerias Correlations

CCU Stock

USD 13.63 0.33 2.36%

The current 90-days correlation between Compania Cervecerias and Boston Beer is 0.22 (i.e., Modest diversification). The correlation of Compania Cervecerias 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.

Compania Cervecerias Correlation With Market

Very weak diversification

The correlation between Compania Cervecerias Unidas and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compania Cervecerias Unidas and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Compania Stock

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

Moving together with Compania Stock

0.61

Kellanova

Pair Corr

Moving against Compania Stock

0.51	KAVL	Kaival Brands Innovations	Pair Corr
0.49	RLX	RLX Technology	Pair Corr
0.39	TPB	Turning Point Brands	Pair Corr
0.39	ISPR	Ispire Technology Common	Pair Corr
0.71	EWCZ	European Wax Center Earnings Call This Week	Pair Corr
0.45	EDBL	Edible Garden AG	Pair Corr
0.39	FAMI	Farmmi Inc	Pair Corr
0.38	WAFU	Wah Fu Education	Pair Corr
0.37	WILC	G Willi Food	Pair Corr

Related Correlations Analysis

	SAM	TAP-A	ABEV	TAP	FMX	TSGTY	CABGY	BUD	HEINY	STBFY
SAM		-0.34	0.15	0.12	0.15	0.15	0.11	0.05	0.11	0.32	SAM
TAP-A	-0.34		-0.56	0.63	-0.61	-0.26	-0.65	-0.66	-0.31	-0.03	TAP-A
ABEV	0.15	-0.56		-0.76	0.9	0.4	0.87	0.85	0.5	0.32	ABEV
TAP	0.12	0.63	-0.76		-0.75	-0.04	-0.83	-0.86	-0.58	-0.11	TAP
FMX	0.15	-0.61	0.9	-0.75		0.44	0.93	0.9	0.65	0.28	FMX
TSGTY	0.15	-0.26	0.4	-0.04	0.44		0.3	0.21	0.05	0.36	TSGTY
CABGY	0.11	-0.65	0.87	-0.83	0.93	0.3		0.97	0.75	0.24	CABGY
BUD	0.05	-0.66	0.85	-0.86	0.9	0.21	0.97		0.7	0.12	BUD
HEINY	0.11	-0.31	0.5	-0.58	0.65	0.05	0.75	0.7		0.42	HEINY
STBFY	0.32	-0.03	0.32	-0.11	0.28	0.36	0.24	0.12	0.42		STBFY
	SAM	TAP-A	ABEV	TAP	FMX	TSGTY	CABGY	BUD	HEINY	STBFY

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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

BUD	+ 0.97	CABGY
CABGY	+ 0.93	FMX
FMX	+ 0.9	ABEV
BUD	+ 0.9	FMX
CABGY	+ 0.87	ABEV
BUD	+ 0.85	ABEV

High negative correlations

BUD	- 0.86	TAP
CABGY	- 0.83	TAP
TAP	- 0.76	ABEV
FMX	- 0.75	TAP
BUD	- 0.66	TAP-A
CABGY	- 0.65	TAP-A

Risk-Adjusted Indicators

There is a big difference between Compania Stock performing well and Compania Cervecerias 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 Compania Cervecerias' 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
SAM	1.54	(0.05)	0.00	(0.13)	0.00	0.00	3.58	(3.40)	9.43
TAP-A	0.75	(0.11)	0.00	(0.83)	0.00	0.00	0.83	(3.87)	18.79
ABEV	1.31	0.36	0.19	0.79	1.61	(1.50)	3.03	(2.56)	10.74
TAP	1.16	(0.19)	0.00	(0.53)	0.00	0.00	1.85	(2.79)	8.68
FMX	1.33	0.31	0.20	0.92	1.43	(1.55)	2.62	(2.55)	9.75
TSGTY	2.32	0.20	0.07	0.67	2.83	(3.27)	4.41	(5.46)	16.37
CABGY	1.15	0.26	0.18	0.92	1.36	(1.22)	2.98	(2.03)	7.28
BUD	1.02	0.31	0.27	0.90	0.88	(1.13)	2.29	(1.99)	6.60
HEINY	1.11	0.07	0.08	0.40	1.15	(1.25)	2.35	(2.05)	7.18
STBFY	1.27	(0.03)	0.00	0.37	0.00	0.00	2.39	(2.80)	9.35

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