McCormick Company Correlations

MKC Etf

USD 77.95 0.82 1.06%

The current 90-days correlation between McCormick Company and ConAgra Foods is 0.63 (i.e., Poor diversification). The correlation of McCormick Company 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.

McCormick Company Correlation With Market

Good diversification

The correlation between McCormick Company Incorporated and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding McCormick Company Incorporated and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with McCormick Etf

0.62	BG	Bunge Limited	Pair Corr
0.77	ADM	Archer Daniels Midland	Pair Corr
0.77	BGS	BG Foods	Pair Corr
0.74	BUD	Anheuser Busch Inbev	Pair Corr
0.87	CAG	ConAgra Foods	Pair Corr
0.78	CPB	Campbell Soup	Pair Corr
0.86	FLO	Flowers Foods	Pair Corr
0.93	GIS	General Mills	Pair Corr
0.61	HRL	Hormel Foods Earnings Call This Week	Pair Corr
0.78	HSY	Hershey	Pair Corr
0.71	KHC	Kraft Heinz	Pair Corr
0.66	LND	Brasilagro Adr	Pair Corr
0.63	RGF	Real Good Food	Pair Corr

Moving against McCormick Etf

0.81	DAR	Darling Ingredients	Pair Corr
0.67	LW	Lamb Weston Holdings	Pair Corr
0.62	FDP	Fresh Del Monte	Pair Corr
0.47	MO	Altria Group	Pair Corr
0.45	PM	Philip Morris Intern	Pair Corr
0.4	FAMI	Farmmi Inc	Pair Corr
0.34	CCU	Compania Cervecerias	Pair Corr
0.77	LSF	Laird Superfood	Pair Corr
0.77	PPC	Pilgrims Pride Corp	Pair Corr
0.76	SAM	Boston Beer	Pair Corr
0.75	TPB	Turning Point Brands	Pair Corr
0.53	FTFT	Future Fintech Group	Pair Corr
0.51	TAP	Molson Coors Brewing	Pair Corr
0.44	FRPT	Freshpet	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

McCormick Company Competition Risk-Adjusted Indicators

There is a big difference between McCormick Etf performing well and McCormick Company ETF 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 McCormick Company'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
META	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

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