Nestle SA Correlations

NSRGY Stock

USD 105.81 0.30 0.28%

The current 90-days correlation between Nestle SA ADR and Kellanova is 0.42 (i.e., Very weak diversification). The correlation of Nestle SA 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.

Nestle SA Correlation With Market

Modest diversification

The correlation between Nestle SA ADR and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nestle SA ADR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Nestle SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nestle SA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nestle SA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nestle SA ADR to buy it.

Moving together with Nestle Pink Sheet

0.99	NSRGF	Nestle SA	Pair Corr
0.93	GPDNF	Danone SA	Pair Corr
0.9	K	Kellanova	Pair Corr
0.89	CIADY	China Mengniu Dairy	Pair Corr
0.69	WF	Woori Financial Group	Pair Corr
0.84	BCH	Banco De Chile	Pair Corr
0.66	T	ATT Inc Earnings Call This Week	Pair Corr
0.66	VZ	Verizon Communications	Pair Corr
0.69	KO	Coca Cola	Pair Corr
0.72	MCD	McDonalds	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr

Moving against Nestle Pink Sheet

0.57	IBM	International Business	Pair Corr
0.56	BAC-PL	Bank of America	Pair Corr
0.32	031162AA8	US031162AA80	Pair Corr
0.73	BAC	Bank of America	Pair Corr
0.7	CAT	Caterpillar	Pair Corr
0.67	AXP	American Express	Pair Corr
0.67	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr
0.49	MMM	3M Company	Pair Corr
0.48	PFE	Pfizer Inc	Pair Corr
0.48	WMT	Walmart	Pair Corr
0.34	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	K	CPB	CAG	HRL	KHC	CLBEY	GPDNF	ASBFY	MKC-V	GIS
K		-0.04	0.21	0.53	0.4	0.47	0.79	0.64	0.22	-0.08	K
CPB	-0.04		0.72	-0.09	0.82	-0.34	-0.44	-0.5	0.81	0.9	CPB
CAG	0.21	0.72		0.45	0.73	-0.18	0.0	-0.19	0.67	0.75	CAG
HRL	0.53	-0.09	0.45		0.23	0.33	0.65	0.63	-0.09	-0.02	HRL
KHC	0.4	0.82	0.73	0.23		0.07	0.0	-0.08	0.81	0.82	KHC
CLBEY	0.47	-0.34	-0.18	0.33	0.07		0.59	0.59	-0.17	-0.22	CLBEY
GPDNF	0.79	-0.44	0.0	0.65	0.0	0.59		0.85	-0.28	-0.39	GPDNF
ASBFY	0.64	-0.5	-0.19	0.63	-0.08	0.59	0.85		-0.47	-0.48	ASBFY
MKC-V	0.22	0.81	0.67	-0.09	0.81	-0.17	-0.28	-0.47		0.79	MKC-V
GIS	-0.08	0.9	0.75	-0.02	0.82	-0.22	-0.39	-0.48	0.79		GIS
	K	CPB	CAG	HRL	KHC	CLBEY	GPDNF	ASBFY	MKC-V	GIS

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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

GIS	+ 0.9	CPB
ASBFY	+ 0.85	GPDNF
KHC	+ 0.82	CPB
GIS	+ 0.82	KHC
MKC-V	+ 0.81	CPB
MKC-V	+ 0.81	KHC

High negative correlations

ASBFY	- 0.5	CPB
GIS	- 0.48	ASBFY
MKC-V	- 0.47	ASBFY
GPDNF	- 0.44	CPB
GIS	- 0.39	GPDNF
CLBEY	- 0.34	CPB

Risk-Adjusted Indicators

There is a big difference between Nestle Pink Sheet performing well and Nestle SA 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 Nestle SA'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
K	0.13	0.03	0.63	0.80	0.00	(0.15)	0.33	(0.27)	1.22
CPB	1.43	(0.08)	0.00	(0.90)	0.00	0.00	3.07	(3.33)	10.02
CAG	1.41	(0.07)	0.00	(1.21)	0.00	0.00	2.32	(3.00)	8.67
HRL	1.18	0.01	0.08	0.00	1.34	(1.32)	2.70	(2.33)	5.63
KHC	1.46	0.01	0.05	(0.06)	1.93	(1.41)	2.26	(3.48)	8.08
CLBEY	2.47	0.14	0.07	0.40	3.15	(2.75)	5.08	(4.88)	16.71
GPDNF	1.20	0.40	0.25	1.56	1.25	(1.58)	3.09	(2.37)	15.09
ASBFY	1.62	0.29	0.16	(2.65)	2.37	(1.71)	3.01	(3.18)	18.12
MKC-V	1.53	(0.02)	0.00	(0.23)	0.00	0.00	2.76	(3.15)	9.63
GIS	1.46	(0.09)	0.00	(0.93)	0.00	0.00	2.41	(3.29)	8.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nestle SA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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FranoisXavier Roger	CFO VP	Profile
Ulf Schneider	Member CEO	Profile
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