Coca Cola Correlations

KO Stock

ARS 14,900 200.00 1.36%

The current 90-days correlation between Coca Cola and American Express Co is 0.34 (i.e., Weak diversification). The correlation of Coca Cola 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.

Coca Cola Correlation With Market

Good diversification

The correlation between The Coca Cola and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Coca Cola and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Coca Stock

0.92	JNJ	Johnson Johnson	Pair Corr
0.75	PG	Procter Gamble DRC	Pair Corr
0.93	PFE	Pfizer Inc	Pair Corr
0.95	MRK	Merck Company	Pair Corr

Moving against Coca Stock

0.76	EDN	Empresa Distribuidora	Pair Corr
0.74	TGNO4	Transportadora de Gas	Pair Corr
0.7	LOMA	Loma Negra Compania	Pair Corr
0.61	DISN	Walt Disney	Pair Corr
0.47	TRAN	Compania de Transporte	Pair Corr
0.43	BBAR	BBVA Banco Frances	Pair Corr
0.37	WMT	Walmart	Pair Corr
0.33	BYMA	Bolsas y Mercados	Pair Corr
0.79	TECO2	Telecom Argentina	Pair Corr
0.76	IRSA	IRSA Inversiones y Split	Pair Corr
0.76	MIRG	Mirgor SA	Pair Corr
0.76	AGRO	Agrometal SAI	Pair Corr
0.74	LEDE	Ledesma SAAI	Pair Corr
0.71	METR	Metrogas SA	Pair Corr
0.64	CRES	Cresud SA	Pair Corr
0.61	CEPU	Central Puerto SA	Pair Corr
0.59	TGSU2	Transportadora de Gas	Pair Corr
0.59	YPFD	YPF SA D	Pair Corr
0.56	ALUA	Aluar Aluminio Argentino	Pair Corr
0.5	PAMP	Pampa Energia SA	Pair Corr
0.5	VALO	Banco de Valores	Pair Corr
0.37	SUPV	Grupo Supervielle	Pair Corr

Related Correlations Analysis

	KO	AXP	LEDE	CEPU	ALUA	WMT	BBAR	BYMA
KO		-0.11	-0.74	-0.61	-0.56	-0.37	-0.43	-0.33	KO
AXP	-0.11		0.67	0.7	0.19	0.84	0.83	0.86	AXP
LEDE	-0.74	0.67		0.93	0.6	0.83	0.86	0.83	LEDE
CEPU	-0.61	0.7	0.93		0.52	0.85	0.91	0.91	CEPU
ALUA	-0.56	0.19	0.6	0.52		0.47	0.28	0.35	ALUA
WMT	-0.37	0.84	0.83	0.85	0.47		0.87	0.93	WMT
BBAR	-0.43	0.83	0.86	0.91	0.28	0.87		0.96	BBAR
BYMA	-0.33	0.86	0.83	0.91	0.35	0.93	0.96		BYMA
	KO	AXP	LEDE	CEPU	ALUA	WMT	BBAR	BYMA

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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

BYMA	+ 0.96	BBAR
CEPU	+ 0.93	LEDE
BYMA	+ 0.93	WMT
BBAR	+ 0.91	CEPU
BYMA	+ 0.91	CEPU
BBAR	+ 0.87	WMT

High negative correlations

LEDE	- 0.74	KO
CEPU	- 0.61	KO
ALUA	- 0.56	KO
BBAR	- 0.43	KO
WMT	- 0.37	KO
BYMA	- 0.33	KO

Risk-Adjusted Indicators

There is a big difference between Coca Stock performing well and Coca Cola 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 Coca Cola'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
KO	0.96	(0.17)	0.00	19.70	0.00	0.00	1.47	(2.66)	5.65
AXP	1.44	0.19	0.11	0.49	1.38	(1.69)	3.31	(2.53)	8.56
LEDE	1.77	0.55	0.22	3.18	1.83	(2.06)	5.43	(3.00)	13.46
CEPU	2.21	0.37	0.10	(1.13)	2.86	(2.23)	4.25	(4.90)	11.82
ALUA	1.89	(0.06)	0.00	0.26	0.00	0.00	4.67	(4.01)	11.67
WMT	1.04	0.21	0.14	(2.20)	1.03	(1.20)	2.73	(2.08)	5.15
BBAR	3.00	1.00	0.29	(2.18)	2.57	(3.44)	8.09	(4.48)	23.09
BYMA	2.11	0.61	0.28	82.36	1.71	(2.70)	5.36	(2.86)	14.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Coca Cola 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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