Constellation Brands Correlations

STZ Stock

USD 164.88 4.93 2.90%

The current 90-days correlation between Constellation Brands and Diageo PLC ADR is 0.67 (i.e., Poor diversification). The correlation of Constellation Brands 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.

Constellation Brands Correlation With Market

Poor diversification

The correlation between Constellation Brands Class and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellation Brands Class and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Constellation Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Constellation Brands Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Constellation Stock

0.62	VITL	Vital Farms	Pair Corr
0.82	SAM	Boston Beer	Pair Corr

Moving against Constellation Stock

0.55	LW	Lamb Weston Holdings	Pair Corr
0.34	BTI	British American Tobacco	Pair Corr
0.67	DDC	DDC Enterprise Upward Rally	Pair Corr
0.35	LND	Brasilagro Adr	Pair Corr
0.34	HRL	Hormel Foods	Pair Corr
0.67	SEB	Seaboard	Pair Corr
0.48	RLX	RLX Technology	Pair Corr
0.41	UTZ	Utz Brands	Pair Corr

Related Correlations Analysis

	BF-B	NAPA	MGPI	BF-A	DEO	PRNDY	VWE	VINE	TSRYY	NWINF
BF-B		0.0	0.44	1.0	0.49	0.38	0.0	0.31	0.53	-0.48	BF-B
NAPA	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NAPA
MGPI	0.44	0.0		0.48	0.72	0.62	0.0	-0.19	0.46	-0.13	MGPI
BF-A	1.0	0.0	0.48		0.56	0.44	0.0	0.32	0.51	-0.44	BF-A
DEO	0.49	0.0	0.72	0.56		0.85	0.0	0.24	0.13	0.08	DEO
PRNDY	0.38	0.0	0.62	0.44	0.85		0.0	0.39	0.24	0.01	PRNDY
VWE	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	VWE
VINE	0.31	0.0	-0.19	0.32	0.24	0.39	0.0		0.2	-0.19	VINE
TSRYY	0.53	0.0	0.46	0.51	0.13	0.24	0.0	0.2		-0.66	TSRYY
NWINF	-0.48	0.0	-0.13	-0.44	0.08	0.01	0.0	-0.19	-0.66		NWINF
	BF-B	NAPA	MGPI	BF-A	DEO	PRNDY	VWE	VINE	TSRYY	NWINF

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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

BF-A	+ 1.0	BF-B
PRNDY	+ 0.85	DEO
DEO	+ 0.72	MGPI
PRNDY	+ 0.62	MGPI
DEO	+ 0.56	BF-A
TSRYY	+ 0.53	BF-B

High negative correlations

NWINF	- 0.66	TSRYY
NWINF	- 0.48	BF-B
NWINF	- 0.44	BF-A
NWINF	- 0.19	VINE
VINE	- 0.19	MGPI
NWINF	- 0.13	MGPI

Risk-Adjusted Indicators

There is a big difference between Constellation Stock performing well and Constellation Brands 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 Constellation Brands' 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
BF-B	1.67	(0.37)	0.00	(0.44)	0.00	0.00	2.81	(3.11)	26.34
NAPA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MGPI	1.86	(0.05)	0.00	(0.04)	0.00	0.00	4.35	(3.59)	16.82
BF-A	1.56	(0.36)	0.00	(0.45)	0.00	0.00	2.54	(2.80)	24.89
DEO	1.16	(0.06)	0.00	(0.09)	0.00	0.00	2.33	(2.70)	10.84
PRNDY	1.38	(0.10)	0.00	(0.12)	0.00	0.00	3.07	(3.08)	13.32
VWE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VINE	5.64	0.02	0.00	0.11	6.37	(6.69)	12.33	(11.11)	33.51
TSRYY	1.83	(0.28)	0.00	(0.38)	0.00	0.00	3.73	(4.79)	13.81
NWINF	4.12	0.83	0.12	(3.08)	3.75	(8.38)	14.42	(9.09)	38.84

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