Nestle SA Correlations

NSRGF Stock

USD 85.96 0.50 0.58%

The current 90-days correlation between Nestle SA and General Mills is -0.04 (i.e., Good diversification). The correlation of Nestle SA 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.

Nestle SA Correlation With Market

Significant diversification

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

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

Moving together with Nestle Pink Sheet

0.83	GPDNF	Danone SA	Pair Corr
0.73	GRBMF	Grupo Bimbo SAB	Pair Corr
0.84	BMBOY	Grupo Bimbo SAB	Pair Corr
0.7	IMHC	Imperalis Holding Corp	Pair Corr
0.83	TPDDF	Talon Energy	Pair Corr

Moving against Nestle Pink Sheet

0.9	EXCH	Exchange Bankshares	Pair Corr
0.9	DAVA	Endava	Pair Corr
0.89	PLTR	Palantir Technologies Earnings Call This Week	Pair Corr
0.72	GILT	Gilat Satellite Networks	Pair Corr
0.68	TGNA	Tegna Inc	Pair Corr
0.68	BTI	British American Tobacco Earnings Call This Week	Pair Corr
0.66	TPVG	Triplepoint Venture	Pair Corr
0.61	FRSX	Foresight Autonomous	Pair Corr
0.56	MNPR	Monopar Therapeutics	Pair Corr
0.54	DNA	Ginkgo Bioworks Holdings Upward Rally	Pair Corr
0.36	AIR	AAR Corp	Pair Corr
0.35	DNOW	Now Inc	Pair Corr

Related Correlations Analysis

	GIS	K	CPB	KHC	TSUKF	TSUKY	GLAPF	SENEA	LW	ACOPY
GIS		-0.75	0.9	0.92	-0.2	0.17	0.3	-0.26	0.84	0.07	GIS
K	-0.75		-0.82	-0.72	0.28	-0.19	-0.21	0.39	-0.8	0.27	K
CPB	0.9	-0.82		0.91	-0.43	0.01	0.35	-0.49	0.87	0.01	CPB
KHC	0.92	-0.72	0.91		-0.44	-0.14	0.52	-0.48	0.82	0.24	KHC
TSUKF	-0.2	0.28	-0.43	-0.44		0.67	-0.77	0.71	-0.35	-0.4	TSUKF
TSUKY	0.17	-0.19	0.01	-0.14	0.67		-0.6	0.6	0.11	-0.53	TSUKY
GLAPF	0.3	-0.21	0.35	0.52	-0.77	-0.6		-0.61	0.36	0.64	GLAPF
SENEA	-0.26	0.39	-0.49	-0.48	0.71	0.6	-0.61		-0.44	-0.27	SENEA
LW	0.84	-0.8	0.87	0.82	-0.35	0.11	0.36	-0.44		-0.11	LW
ACOPY	0.07	0.27	0.01	0.24	-0.4	-0.53	0.64	-0.27	-0.11		ACOPY
	GIS	K	CPB	KHC	TSUKF	TSUKY	GLAPF	SENEA	LW	ACOPY

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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

KHC	+ 0.92	GIS
KHC	+ 0.91	CPB
CPB	+ 0.9	GIS
LW	+ 0.87	CPB
LW	+ 0.84	GIS
LW	+ 0.82	KHC

High negative correlations

CPB	- 0.82	K
LW	- 0.8	K
GLAPF	- 0.77	TSUKF
K	- 0.75	GIS
KHC	- 0.72	K
SENEA	- 0.61	GLAPF

Risk-Adjusted Indicators

There is a big difference between Nestle Pink Sheet performing well and Nestle SA 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 Nestle SA'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
GIS	1.05	(0.21)	0.00	(0.59)	0.00	0.00	1.46	(3.05)	5.34
K	0.16	0.03	(0.30)	0.65	0.00	(0.18)	0.35	(0.34)	0.86
CPB	1.22	(0.29)	0.00	(0.74)	0.00	0.00	1.87	(2.97)	8.10
KHC	1.00	(0.17)	0.00	(0.55)	0.00	0.00	2.31	(2.04)	6.83
TSUKF	0.20	0.07	0.00	1.32	0.00	0.00	0.00	0.00	7.88
TSUKY	3.23	0.35	0.03	(0.16)	3.66	(3.55)	7.74	(6.25)	17.55
GLAPF	1.14	(0.31)	0.00	3.42	0.00	0.00	3.00	(5.43)	12.82
SENEA	1.51	0.22	0.08	0.67	1.71	(1.64)	3.12	(2.43)	13.63
LW	1.91	(0.31)	0.00	2.93	0.00	0.00	2.99	(3.78)	26.89
ACOPY	1.54	(0.11)	0.00	0.19	0.00	0.00	5.37	(6.95)	23.90

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Our tools can tell you how much better you can do entering a position in Nestle SA 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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