Monster Beverage Correlations

MNST Stock

USD 54.06 0.08 0.15%

The current 90-days correlation between Monster Beverage Corp and Keurig Dr Pepper is 0.58 (i.e., Very weak diversification). The correlation of Monster Beverage 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Monster Beverage Correlation With Market

Average diversification

The correlation between Monster Beverage Corp and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Monster Beverage Corp 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 Monster Beverage Corp. 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 Monster Stock

0.69	FIZZ	National Beverage Corp	Pair Corr
0.84	PRMB	Primo Brands	Pair Corr
0.83	COCO	Vita Coco	Pair Corr
0.86	K	Kellanova	Pair Corr
0.63	BJ	BJs Wholesale Club	Pair Corr
0.86	KR	Kroger Company Earnings Call This Week	Pair Corr
0.84	LW	Lamb Weston Holdings	Pair Corr

Moving against Monster Stock

0.78	BG	Bunge Limited	Pair Corr
0.77	CL	Colgate Palmolive Fiscal Year End 24th of January 2025	Pair Corr
0.73	BRFH	Barfresh Food Group	Pair Corr
0.71	CELH	Celsius Holdings	Pair Corr
0.67	COKE	Coca Cola Consolidated	Pair Corr
0.64	KO	Coca Cola Aggressive Push	Pair Corr
0.64	DG	Dollar General	Pair Corr
0.6	EL	Estee Lauder Companies	Pair Corr
0.59	REED	Reeds Inc	Pair Corr
0.53	PEP	PepsiCo	Pair Corr
0.53	OTLY	Oatly Group AB	Pair Corr
0.48	KDP	Keurig Dr Pepper	Pair Corr
0.48	CCEP	Coca Cola European	Pair Corr
0.43	GV	Visionary Education	Pair Corr
0.42	KOF	Coca Cola Femsa	Pair Corr
0.77	EDBL	Edible Garden AG	Pair Corr
0.76	EDTK	Skillful Craftsman	Pair Corr
0.74	DLTR	Dollar Tree Earnings Call This Week	Pair Corr
0.66	UL	Unilever PLC ADR	Pair Corr
0.63	DTCK	Davis Commodities	Pair Corr
0.58	EAST	Eastside Distilling	Pair Corr
0.48	UG	United Guardian	Pair Corr
0.43	WEST	Westrock Coffee	Pair Corr
0.39	YI	111 Inc Earnings Call This Week	Pair Corr
0.35	WAFU	Wah Fu Education	Pair Corr

Related Correlations Analysis

	COCO	PEP	KO	KOF	FIZZ	CELH	KDP	CCEP	PRMW	COKE
COCO		-0.84	-0.86	-0.68	0.8	-0.73	-0.79	-0.52	0.81	-0.75	COCO
PEP	-0.84		0.84	0.68	-0.65	0.7	0.84	0.55	-0.7	0.66	PEP
KO	-0.86	0.84		0.84	-0.69	0.67	0.95	0.59	-0.77	0.75	KO
KOF	-0.68	0.68	0.84		-0.54	0.54	0.84	0.35	-0.52	0.54	KOF
FIZZ	0.8	-0.65	-0.69	-0.54		-0.54	-0.6	-0.33	0.6	-0.45	FIZZ
CELH	-0.73	0.7	0.67	0.54	-0.54		0.54	0.46	-0.73	0.62	CELH
KDP	-0.79	0.84	0.95	0.84	-0.6	0.54		0.55	-0.69	0.73	KDP
CCEP	-0.52	0.55	0.59	0.35	-0.33	0.46	0.55		-0.81	0.61	CCEP
PRMW	0.81	-0.7	-0.77	-0.52	0.6	-0.73	-0.69	-0.81		-0.82	PRMW
COKE	-0.75	0.66	0.75	0.54	-0.45	0.62	0.73	0.61	-0.82		COKE
	COCO	PEP	KO	KOF	FIZZ	CELH	KDP	CCEP	PRMW	COKE

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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

KDP	+ 0.95	KO
KO	+ 0.84	PEP
KDP	+ 0.84	PEP
KOF	+ 0.84	KO
KDP	+ 0.84	KOF
PRMW	+ 0.81	COCO

High negative correlations

KO	- 0.86	COCO
PEP	- 0.84	COCO
COKE	- 0.82	PRMW
PRMW	- 0.81	CCEP
KDP	- 0.79	COCO
PRMW	- 0.77	KO

Risk-Adjusted Indicators

There is a big difference between Monster Stock performing well and Monster Beverage 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 Monster Beverage'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
COCO	1.62	0.53	0.21	1.26	1.48	(1.75)	3.72	(3.13)	11.39
PEP	0.68	(0.12)	0.00	(6.59)	0.00	0.00	1.24	(1.38)	6.65
KO	0.70	(0.13)	0.00	(1.11)	0.00	0.00	1.18	(1.66)	4.07
KOF	1.14	(0.19)	0.00	(0.39)	0.00	0.00	2.21	(2.27)	5.30
FIZZ	0.90	0.04	(0.03)	0.23	1.06	(0.92)	2.13	(1.89)	6.35
CELH	2.71	(0.47)	0.00	(0.56)	0.00	0.00	5.82	(5.22)	20.47
KDP	0.77	(0.18)	0.00	(0.31)	0.00	0.00	1.46	(2.08)	6.67
CCEP	0.81	(0.03)	(0.09)	0.05	1.11	(0.76)	1.62	(1.75)	4.77
PRMW	1.15	0.23	0.08	1.95	1.25	(1.18)	2.38	(2.29)	13.17
COKE	1.14	(0.20)	0.00	(0.13)	0.00	0.00	2.03	(1.71)	10.22

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