MGP Ingredients Correlations

MGPI Stock

USD 25.93 0.38 1.49%

The current 90-days correlation between MGP Ingredients and Nu Skin Enterprises is 0.28 (i.e., Modest diversification). The correlation of MGP Ingredients 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.

MGP Ingredients Correlation With Market

Poor diversification

The correlation between MGP Ingredients and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MGP Ingredients and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MGP Stock

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

For more detail on how to invest in MGP Stock please use our How to Invest in MGP Ingredients guide.

Moving together with MGP Stock

0.78	M1I	MGP Ingredients Earnings Call This Week	Pair Corr
0.69	STZ	Constellation Brands	Pair Corr
0.76	M1I	MGP Ingredients Earnings Call This Week	Pair Corr

Moving against MGP Stock

0.6	BEZ	Berentzen Gruppe	Pair Corr
0.6	UM9	AS Latvijas balzams	Pair Corr
0.5	IBG	Innovation Beverage	Pair Corr
0.48	MBWS	Marie Brizard Wine	Pair Corr
0.46	1W7	AMBRA SA A	Pair Corr
0.42	TWE	Treasury Wine Estates	Pair Corr
0.37	SWA	Schloss Wachenheim	Pair Corr
0.35	1SK	Sektkellerei JOppmann	Pair Corr
0.35	BED	Marie Brizard Wine	Pair Corr
0.74	ALLAN	Lanson BCC SA	Pair Corr
0.69	GQ6	LANSON BCC INH	Pair Corr
0.57	AVG	Australian Vintage	Pair Corr
0.5	BEZ	Berentzen Gruppe	Pair Corr
0.48	LPE	Laurent Perrier	Pair Corr
0.43	MLCAC	Lombard et Medot	Pair Corr

Related Correlations Analysis

	NUS	OTLY	VLGEA	HELE	APEI	LINC	BYND	WEST	ABVE	VSTA
NUS		-0.46	-0.16	0.06	0.12	-0.04	0.15	0.04	0.27	0.23	NUS
OTLY	-0.46		-0.26	-0.11	-0.44	-0.33	0.29	-0.18	0.36	-0.06	OTLY
VLGEA	-0.16	-0.26		-0.05	0.61	0.61	-0.41	0.63	-0.49	-0.13	VLGEA
HELE	0.06	-0.11	-0.05		-0.41	-0.29	0.57	-0.65	0.17	0.15	HELE
APEI	0.12	-0.44	0.61	-0.41		0.92	-0.71	0.82	-0.43	-0.12	APEI
LINC	-0.04	-0.33	0.61	-0.29	0.92		-0.64	0.71	-0.51	-0.15	LINC
BYND	0.15	0.29	-0.41	0.57	-0.71	-0.64		-0.67	0.61	0.26	BYND
WEST	0.04	-0.18	0.63	-0.65	0.82	0.71	-0.67		-0.3	-0.13	WEST
ABVE	0.27	0.36	-0.49	0.17	-0.43	-0.51	0.61	-0.3		0.17	ABVE
VSTA	0.23	-0.06	-0.13	0.15	-0.12	-0.15	0.26	-0.13	0.17		VSTA
	NUS	OTLY	VLGEA	HELE	APEI	LINC	BYND	WEST	ABVE	VSTA

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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

LINC	+ 0.92	APEI
WEST	+ 0.82	APEI
WEST	+ 0.71	LINC
WEST	+ 0.63	VLGEA
APEI	+ 0.61	VLGEA
LINC	+ 0.61	VLGEA

High negative correlations

BYND	- 0.71	APEI
WEST	- 0.67	BYND
WEST	- 0.65	HELE
BYND	- 0.64	LINC
ABVE	- 0.51	LINC
ABVE	- 0.49	VLGEA

Risk-Adjusted Indicators

There is a big difference between MGP Stock performing well and MGP Ingredients 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 MGP Ingredients' 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
NUS	2.02	(0.17)	0.00	(0.09)	0.00	0.00	3.81	(4.44)	24.00
OTLY	2.99	(0.28)	0.00	(0.05)	0.00	0.00	6.07	(5.66)	20.33
VLGEA	1.39	0.21	0.10	1.23	1.25	(1.60)	3.27	(2.44)	7.68
HELE	2.39	(0.09)	(0.01)	0.02	2.59	(2.87)	6.69	(4.37)	13.25
APEI	1.54	0.33	0.18	0.54	1.37	(1.81)	4.22	(2.73)	10.26
LINC	2.01	0.49	0.18	0.48	2.07	(2.08)	5.32	(3.48)	11.51
BYND	4.72	(0.41)	0.00	(0.75)	0.00	0.00	11.27	(7.59)	45.83
WEST	2.06	0.30	0.10	0.61	2.23	(2.33)	4.21	(3.29)	18.05
ABVE	6.90	(0.17)	0.00	(0.09)	0.00	0.00	16.75	(11.76)	52.76
VSTA	0.88	(0.01)	0.00	0.11	0.00	0.00	1.42	(1.61)	11.44

MGP Ingredients Corporate Management

Fletcher Buchman	Vice Marketing	Profile
Amel Pasagic	Chief Officer	Profile
Greg Manis	Corporate Communications	Profile
Amit CFA	Vice Relations	Profile

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