Monster Beverage Correlations

MOB Stock

EUR 52.96 1.54 2.99%

The current 90-days correlation between Monster Beverage Corp and Superior Plus Corp is 0.45 (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.

Monster Beverage Correlation With Market

Modest diversification

The correlation between Monster Beverage Corp and DJI is 0.26 (i.e., Modest 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.

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

Moving together with Monster Stock

0.82	20V	National Beverage Corp	Pair Corr
0.61	58U	Uni President China	Pair Corr
0.82	5F3	JINS HOLDINGS INC	Pair Corr
0.73	SON1	Sony Group Corp	Pair Corr
0.83	BFP	BBVA Banco Frances	Pair Corr
0.84	UN3	United Natural Foods	Pair Corr

Moving against Monster Stock

0.9	MIZ	Mizuno	Pair Corr
0.64	CCC3	Coca Cola	Pair Corr
0.64	5FV	YAOKO LTD	Pair Corr
0.61	HCMA	HITACHI STRMACHADR2	Pair Corr
0.55	DBPD	Xtrackers ShortDAX	Pair Corr
0.43	893	MITSUBISHI KAKOKI	Pair Corr
0.42	DP5	Keurig Dr Pepper	Pair Corr
0.4	YHA	Yamaha Split	Pair Corr

Related Correlations Analysis

	8SP	6NM	39O1	2DG	TLX	TM9	INVN
8SP		0.66	0.32	0.73	0.24	0.26	-0.75	8SP
6NM	0.66		0.45	0.22	0.22	0.23	-0.31	6NM
39O1	0.32	0.45		0.17	-0.22	0.46	-0.05	39O1
2DG	0.73	0.22	0.17		0.11	0.18	-0.81	2DG
TLX	0.24	0.22	-0.22	0.11		-0.01	-0.09	TLX
TM9	0.26	0.23	0.46	0.18	-0.01		-0.05	TM9
INVN	-0.75	-0.31	-0.05	-0.81	-0.09	-0.05		INVN
	8SP	6NM	39O1	2DG	TLX	TM9	INVN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

2DG	+ 0.73	8SP
6NM	+ 0.66	8SP
TM9	+ 0.46	39O1
39O1	+ 0.45	6NM
39O1	+ 0.32	8SP
TM9	+ 0.26	8SP

High negative correlations

INVN	- 0.81	2DG
INVN	- 0.75	8SP
INVN	- 0.31	6NM
TLX	- 0.22	39O1
INVN	- 0.09	TLX
INVN	- 0.05	TM9

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
8SP	2.10	(0.13)	0.00	1.09	0.00	0.00	3.38	(4.74)	20.22
6NM	1.23	0.00	(0.02)	0.12	1.76	(1.32)	2.79	(2.69)	9.64
39O1	3.77	0.20	0.04	0.41	3.51	(5.27)	8.41	(5.38)	34.42
2DG	3.89	(1.69)	0.00	(1.15)	0.00	0.00	6.45	(8.57)	52.42
TLX	0.97	(0.02)	(0.07)	0.08	1.13	(1.12)	2.67	(1.64)	7.58
TM9	2.78	0.08	(0.02)	(0.02)	4.26	(3.08)	5.56	(6.43)	36.50
INVN	2.16	0.13	0.04	0.28	2.54	(2.55)	5.61	(4.98)	14.01

Be your own money manager

Our tools can tell you how much better you can do entering a position in Monster Beverage 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.

Did you try this?

Run Equity Search Now

Equity Search

Search for actively traded equities including funds and ETFs from over 30 global markets

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC