Kellanova Correlations

K Stock

USD 83.44 0.00 0.00%

The current 90-days correlation between Kellanova and Hershey Co is -0.13 (i.e., Good 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

Modest diversification

The correlation between Kellanova 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 Kellanova and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Kellanova Stock

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 state.

Moving together with Kellanova Stock

0.61	603697	Youyou Foods	Pair Corr
0.71	002216	Sanquan Food	Pair Corr
0.68	605338	Zhongyin Babi Food	Pair Corr
0.81	603345	Fujian Anjoy Foods	Pair Corr
0.61	002702	HaiXin Foods	Pair Corr
0.61	603711	Xiangpiaopiao Food	Pair Corr

Moving against Kellanova Stock

0.77	MFI	Maple Leaf Foods	Pair Corr
0.72	CAG	ConAgra Foods Potential Growth	Pair Corr
0.72	HFG	Hilton Food Group	Pair Corr
0.66	PFD	Premier Foods PLC	Pair Corr
0.6	300498	Guangdong Wens Foodstuff	Pair Corr
0.58	600872	Jonjee Hi tech	Pair Corr
0.39	002840	Zhejiang Huatong Meat	Pair Corr
0.39	300143	INKON Life Technology	Pair Corr
0.33	603336	Great Sun Foods	Pair Corr
0.31	WINE	Naked Wines plc	Pair Corr
0.87	MDLZ	Mondelez International	Pair Corr
0.84	LWAY	Lifeway Foods	Pair Corr
0.65	HLF	High Liner Foods	Pair Corr
0.62	002726	Shandong Longda Meat	Pair Corr
0.56	PAVS	Paranovus Entertainment Buyout Trend	Pair Corr
0.46	603517	Juewei Food	Pair Corr
0.41	003000	Jinzai Food Group	Pair Corr
0.39	JWEL	Jamieson Wellness	Pair Corr
0.33	002714	Muyuan Foodstuff	Pair Corr
0.32	002570	Beingmate Baby Child	Pair Corr

Related Correlations Analysis

	HSY	ADM	KVUE	JBS	KHC	GIS	SYY	KMB	STZ	KDP
HSY		0.43	0.27	0.19	0.47	0.41	0.51	0.24	0.55	0.14	HSY
ADM	0.43		-0.49	-0.36	0.49	0.34	0.69	0.72	0.36	-0.01	ADM
KVUE	0.27	-0.49		0.72	-0.21	-0.35	-0.47	-0.74	0.32	0.25	KVUE
JBS	0.19	-0.36	0.72		-0.04	-0.35	-0.58	-0.64	0.22	0.57	JBS
KHC	0.47	0.49	-0.21	-0.04		0.72	0.65	0.62	0.01	0.1	KHC
GIS	0.41	0.34	-0.35	-0.35	0.72		0.77	0.66	-0.17	-0.29	GIS
SYY	0.51	0.69	-0.47	-0.58	0.65	0.77		0.81	0.07	-0.34	SYY
KMB	0.24	0.72	-0.74	-0.64	0.62	0.66	0.81		0.01	-0.24	KMB
STZ	0.55	0.36	0.32	0.22	0.01	-0.17	0.07	0.01		0.52	STZ
KDP	0.14	-0.01	0.25	0.57	0.1	-0.29	-0.34	-0.24	0.52		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

KMB	+ 0.81	SYY
SYY	+ 0.77	GIS
KMB	+ 0.72	ADM
JBS	+ 0.72	KVUE
GIS	+ 0.72	KHC
SYY	+ 0.69	ADM

High negative correlations

KMB	- 0.74	KVUE
KMB	- 0.64	JBS
SYY	- 0.58	JBS
KVUE	- 0.49	ADM
SYY	- 0.47	KVUE
JBS	- 0.36	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	1.13	(0.06)	0.00	(0.10)	0.00	0.00	2.37	(2.35)	5.47
ADM	1.21	(0.04)	(0.05)	(0.01)	1.90	(1.14)	2.92	(3.26)	8.85
KVUE	1.50	0.09	0.01	0.65	2.48	(1.76)	3.03	(2.55)	17.92
JBS	1.26	0.09	0.00	(1.69)	1.58	(1.31)	2.36	(3.02)	8.67
KHC	0.91	(0.12)	0.00	(0.50)	0.00	0.00	1.54	(1.86)	5.99
GIS	1.09	(0.14)	0.00	0.70	0.00	0.00	1.96	(2.56)	6.34
SYY	0.83	(0.13)	0.00	(0.37)	0.00	0.00	1.62	(1.94)	5.63
KMB	1.03	(0.33)	0.00	(1.09)	0.00	0.00	1.45	(2.21)	17.56
STZ	1.26	0.02	0.00	0.11	1.26	(1.48)	3.14	(2.20)	7.18
KDP	1.16	0.13	0.04	0.47	1.50	(1.20)	2.31	(1.91)	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

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