Heineken Holding Correlations

HKHHF Stock

USD 61.39 0.61 0.98%

The current 90-days correlation between Heineken Holding and Molson Coors Brewing is 0.28 (i.e., Modest diversification). The correlation of Heineken Holding 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.

Heineken Holding Correlation With Market

Average diversification

The correlation between Heineken Holding NV and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heineken Holding NV and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Heineken Holding could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Heineken Holding 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 Heineken Holding - 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 Heineken Holding NV to buy it.

Moving together with Heineken OTC Stock

0.91	FMX	Fomento Economico	Pair Corr
0.87	FMXUF	Fomento Econmico Mexicano	Pair Corr
0.94	BUDFF	Anheuser Busch InBev	Pair Corr
0.95	BUD	Anheuser Busch Inbev	Pair Corr
0.97	HINKF	Heineken NV	Pair Corr
0.95	HEIA	Heineken	Pair Corr
0.65	ABEV	Ambev SA ADR	Pair Corr
0.94	PPERY	Bank Mandiri Persero	Pair Corr
0.89	PPERF	Bank Mandiri Persero	Pair Corr
0.77	BKRKF	PT Bank Rakyat	Pair Corr
0.92	BKRKY	Bank Rakyat	Pair Corr
0.78	PBCRY	Bank Central Asia	Pair Corr
0.66	PBCRF	PT Bank Central	Pair Corr
0.78	PTBRY	Bank Negara Indonesia	Pair Corr
0.77	SHG	Shinhan Financial	Pair Corr

Moving against Heineken OTC Stock

0.92	FDP	Fresh Del Monte	Pair Corr
0.92	DIS	Walt Disney	Pair Corr
0.91	OPRA	Opera Buyout Trend	Pair Corr
0.9	CRS	Carpenter Technology	Pair Corr
0.87	GLBE	Global E Online	Pair Corr
0.86	FUND	Sprott Focus Trust	Pair Corr
0.84	CRDO	Credo Technology	Pair Corr
0.75	SOUN	SoundHound AI Aggressive Push	Pair Corr
0.75	KULR	KULR Technology Group	Pair Corr
0.71	NVDA	NVIDIA	Pair Corr
0.7	SNAP	Snap Inc Downward Rally	Pair Corr
0.31	ICAD	icad inc	Pair Corr
0.96	SOFI	SoFi Technologies Aggressive Push	Pair Corr
0.96	PLTR	Palantir Technologies Aggressive Push	Pair Corr
0.94	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.93	MTLS	Materialise NV Tech Boost	Pair Corr
0.92	SECYF	Secure Energy Services	Pair Corr
0.92	DORM	Dorman Products	Pair Corr

Related Correlations Analysis

	BUDFF	BUD	TAP	HEINY	HINKF	TAP-A	SAM	ABEV	FMX
BUDFF		0.99	-0.88	0.92	0.89	-0.9	-0.84	0.64	0.85	BUDFF
BUD	0.99		-0.88	0.93	0.9	-0.9	-0.83	0.65	0.86	BUD
TAP	-0.88	-0.88		-0.87	-0.84	0.87	0.89	-0.48	-0.83	TAP
HEINY	0.92	0.93	-0.87		0.98	-0.82	-0.9	0.65	0.92	HEINY
HINKF	0.89	0.9	-0.84	0.98		-0.77	-0.86	0.65	0.9	HINKF
TAP-A	-0.9	-0.9	0.87	-0.82	-0.77		0.79	-0.53	-0.76	TAP-A
SAM	-0.84	-0.83	0.89	-0.9	-0.86	0.79		-0.63	-0.81	SAM
ABEV	0.64	0.65	-0.48	0.65	0.65	-0.53	-0.63		0.58	ABEV
FMX	0.85	0.86	-0.83	0.92	0.9	-0.76	-0.81	0.58		FMX
	BUDFF	BUD	TAP	HEINY	HINKF	TAP-A	SAM	ABEV	FMX

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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	+ 0.99	BUDFF
HINKF	+ 0.98	HEINY
HEINY	+ 0.93	BUD
HEINY	+ 0.92	BUDFF
FMX	+ 0.92	HEINY
HINKF	+ 0.9	BUD

High negative correlations

SAM	- 0.9	HEINY
TAP-A	- 0.9	BUD
TAP-A	- 0.9	BUDFF
TAP	- 0.88	BUD
TAP	- 0.88	BUDFF
HEINY	- 0.87	TAP

Risk-Adjusted Indicators

There is a big difference between Heineken OTC Stock performing well and Heineken Holding OTC Stock 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 Heineken Holding'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
BUDFF	1.16	(0.29)	0.00	1.52	0.00	0.00	1.73	(2.95)	10.36
BUD	0.84	(0.29)	0.00	1.73	0.00	0.00	0.99	(2.02)	9.38
TAP	0.95	0.13	0.09	0.32	0.83	(1.09)	2.69	(1.80)	6.79
HEINY	0.96	(0.33)	0.00	26.63	0.00	0.00	1.58	(2.02)	6.89
HINKF	1.51	(0.31)	0.00	0.78	0.00	0.00	3.11	(4.24)	8.94
TAP-A	0.48	0.11	0.00	(0.50)	0.00	0.00	2.07	(1.05)	6.86
SAM	1.21	0.22	0.12	0.54	1.22	(1.29)	2.43	(2.14)	6.51
ABEV	1.38	(0.10)	0.00	(1.49)	0.00	0.00	2.79	(3.12)	7.64
FMX	0.98	(0.15)	0.00	2.06	0.00	0.00	1.86	(2.09)	6.26

Be your own money manager

Our tools can tell you how much better you can do entering a position in Heineken Holding 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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Heineken Holding Corporate Management

Elected by the shareholders, the Heineken Holding's board of directors comprises two types of representatives: Heineken Holding inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Heineken. The board's role is to monitor Heineken Holding's management team and ensure that shareholders' interests are well served. Heineken Holding's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Heineken Holding's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jose Martinez	Director Relations	Profile
Sarah Backhouse	Director Communication	Profile
Michael Fuchs	Global Mang	Profile
Jan Linden	Managing Bus	Profile

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