Constellation Brands Correlations
| CB1A Stock | EUR 166.45 0.95 0.57% |
The current 90-days correlation between Constellation Brands and Darden Restaurants is 0.11 (i.e., Average 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.
Constellation Brands Correlation With Market
Significant diversification
The correlation between Constellation Brands and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellation Brands and DJI in the same portfolio, assuming nothing else is changed.
Constellation |
The ability to find closely correlated positions to Constellation Brands could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Constellation Brands 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 Constellation Brands - 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 Constellation Brands to buy it.
Moving against Constellation Stock
| 0.62 | ECHA | Ecopetrol SA | PairCorr |
| 0.46 | HAW | Hawesko Holding AG | PairCorr |
| 0.43 | E908 | Lyxor 1 | PairCorr |
| 0.38 | DBPE | Xtrackers LevDAX | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DDN | 1.25 | 0.45 | 0.34 | (2.06) | 0.56 | 2.84 | 17.15 | |||
| 1G3 | 1.21 | 0.06 | (0.03) | (0.30) | 1.37 | 3.50 | 9.47 | |||
| PL8 | 0.77 | 0.06 | (0.04) | (0.40) | 0.82 | 1.58 | 4.22 | |||
| CUW | 1.32 | 0.12 | 0.02 | 0.79 | 1.65 | 4.38 | 9.86 | |||
| LC0A | 2.75 | 0.28 | 0.04 | (1.00) | 3.15 | 6.54 | 16.46 | |||
| 688 | 1.98 | (0.19) | 0.00 | 0.36 | 0.00 | 3.75 | 23.61 | |||
| CUG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 55O1 | 0.86 | 0.19 | 0.08 | (0.66) | 0.82 | 1.93 | 6.35 |
Constellation Brands Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Constellation Brands stock to make a market-neutral strategy. Peer analysis of Constellation Brands could also be used in its relative valuation, which is a method of valuing Constellation Brands by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Constellation Brands Corporate Management
Elected by the shareholders, the Constellation Brands' board of directors comprises two types of representatives: Constellation Brands inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Constellation. The board's role is to monitor Constellation Brands' management team and ensure that shareholders' interests are well served. Constellation Brands' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Constellation Brands' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Garth Hankinson | Ex CFO | Profile | |
| Ash Mehra | Chief Officer | Profile | |
| James Bourdeau | Chief VP | Profile | |
| Andrew Zrike | VP Marketing | Profile | |
| William Newlands | CEO Pres | Profile | |
| Joseph Suarez | VP Relations | Profile | |
| Steve King | VP Devel | Profile |