Kellanova Correlations

KDelisted Stock

USD 83.44 0.00 0.00%

The current 90-days correlation between Kellanova and Hershey Co is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kellanova moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kellanova moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Kellanova Correlation With Market

Very weak diversification

The correlation between Kellanova and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kellanova and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Kellanova Stock

0.66	RBGPF	Reckitt Benckiser	Pair Corr
0.73	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.85	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.72	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr

Moving against Kellanova Stock

0.72	MSFT	Microsoft	Pair Corr
0.46	PSGTF	PT Semen Indonesia	Pair Corr
0.34	IBM	International Business Tech Boost	Pair Corr

Related Correlations Analysis

	HSY	ADM	KVUE	JBS	KHC	GIS	SYY	KMB	STZ	KDP
HSY		0.65	0.6	0.7	-0.13	-0.19	0.54	-0.29	0.74	0.43	HSY
ADM	0.65		0.24	0.59	-0.43	-0.44	0.75	-0.04	0.84	0.13	ADM
KVUE	0.6	0.24		0.74	-0.21	-0.31	0.17	-0.74	0.53	0.27	KVUE
JBS	0.7	0.59	0.74		-0.27	-0.33	0.44	-0.43	0.73	0.31	JBS
KHC	-0.13	-0.43	-0.21	-0.27		0.75	-0.21	0.51	-0.55	0.26	KHC
GIS	-0.19	-0.44	-0.31	-0.33	0.75		-0.08	0.46	-0.54	0.02	GIS
SYY	0.54	0.75	0.17	0.44	-0.21	-0.08		-0.01	0.58	-0.09	SYY
KMB	-0.29	-0.04	-0.74	-0.43	0.51	0.46	-0.01		-0.31	0.13	KMB
STZ	0.74	0.84	0.53	0.73	-0.55	-0.54	0.58	-0.31		0.4	STZ
KDP	0.43	0.13	0.27	0.31	0.26	0.02	-0.09	0.13	0.4		KDP
	HSY	ADM	KVUE	JBS	KHC	GIS	SYY	KMB	STZ	KDP

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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

STZ	+ 0.84	ADM
SYY	+ 0.75	ADM
GIS	+ 0.75	KHC
STZ	+ 0.74	HSY
JBS	+ 0.74	KVUE
STZ	+ 0.73	JBS

High negative correlations

KMB	- 0.74	KVUE
STZ	- 0.55	KHC
STZ	- 0.54	GIS
GIS	- 0.44	ADM
KMB	- 0.43	JBS
KHC	- 0.43	ADM

Risk-Adjusted Indicators

There is a big difference between Kellanova Stock performing well and Kellanova 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 Kellanova'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
HSY	1.17	0.10	0.03	0.67	1.42	(1.22)	2.37	(2.35)	6.22
ADM	1.26	0.09	0.03	0.31	1.81	(1.27)	2.94	(3.26)	7.68
KVUE	1.12	0.24	0.14	(3.01)	1.01	(1.35)	2.27	(2.09)	15.22
JBS	1.30	0.26	0.13	0.71	1.45	(1.43)	2.58	(2.78)	8.67
KHC	1.12	(0.10)	0.00	2.11	0.00	0.00	1.95	(2.54)	9.17
GIS	1.03	(0.07)	0.00	0.53	0.00	0.00	2.27	(2.51)	6.34
SYY	1.05	0.14	0.08	1.12	0.98	(1.26)	2.68	(2.10)	11.45
KMB	1.11	(0.26)	0.00	(1.57)	0.00	0.00	2.17	(1.59)	17.56
STZ	1.47	0.18	0.11	0.49	1.25	(1.87)	3.59	(2.20)	7.18
KDP	1.14	(0.01)	(0.03)	(0.01)	1.65	(1.12)	1.97	(1.93)	13.48

Kellanova 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 Kellanova stock to make a market-neutral strategy. Peer analysis of Kellanova could also be used in its relative valuation, which is a method of valuing Kellanova by comparing valuation metrics with similar companies.

Hershey Co Archer Daniels Midland Kenvue Inc JBS NV Kraft Heinz Co General Mills Sysco Kimberly Clark Constellation Brands Class Keurig Dr Pepper American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Still Interested in Kellanova?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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