Constellation Brands Correlations

STZ Stock

USD 184.32 2.09 1.15%

The current 90-days correlation between Constellation Brands and Brown Forman is 0.54 (i.e., Very weak diversification). The correlation of Constellation Brands 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.

Constellation Brands Correlation With Market

Modest diversification

The correlation between Constellation Brands Class and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellation Brands Class and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Constellation Brands Class. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Constellation Stock

0.66	BG	Bunge Limited Earnings Call This Week	Pair Corr
0.85	LW	Lamb Weston Holdings	Pair Corr
0.67	DOLE	Dole PLC	Pair Corr
0.74	FARM	Farmer Bros Earnings Call This Week	Pair Corr
0.68	BUD	Anheuser Busch Inbev	Pair Corr
0.75	CAG	ConAgra Foods	Pair Corr
0.82	CPB	Campbell Soup	Pair Corr
0.86	FLO	Flowers Foods Earnings Call This Week	Pair Corr
0.82	GIS	General Mills	Pair Corr
0.94	HSY	Hershey Earnings Call This Week	Pair Corr
0.71	KHC	Kraft Heinz	Pair Corr
0.63	MKC	McCormick Company	Pair Corr
0.68	PPC	Pilgrims Pride Corp	Pair Corr
0.96	SAM	Boston Beer	Pair Corr

Moving against Constellation Stock

0.86	K	Kellanova Earnings Call This Week	Pair Corr
0.81	VITL	Vital Farms	Pair Corr
0.57	EDBL	Edible Garden AG	Pair Corr
0.41	BTI	British American Tobacco Earnings Call This Week	Pair Corr
0.31	BOF	BranchOut Food Common	Pair Corr
0.62	CCU	Compania Cervecerias	Pair Corr
0.34	FRPT	Freshpet	Pair Corr
0.72	RLX	RLX Technology	Pair Corr

Related Correlations Analysis

	BF-B	NAPA	MGPI	BF-A	DEO	PRNDY	VWE	VINE	TSRYY	NWINF
BF-B		-0.52	0.86	1.0	0.55	0.67	0.51	0.45	0.93	0.75	BF-B
NAPA	-0.52		-0.59	-0.52	-0.38	-0.77	-0.84	-0.8	-0.52	-0.45	NAPA
MGPI	0.86	-0.59		0.85	0.33	0.7	0.76	0.48	0.84	0.79	MGPI
BF-A	1.0	-0.52	0.85		0.56	0.67	0.5	0.46	0.93	0.75	BF-A
DEO	0.55	-0.38	0.33	0.56		0.68	0.2	0.36	0.45	0.2	DEO
PRNDY	0.67	-0.77	0.7	0.67	0.68		0.73	0.73	0.61	0.51	PRNDY
VWE	0.51	-0.84	0.76	0.5	0.2	0.73		0.6	0.53	0.56	VWE
VINE	0.45	-0.8	0.48	0.46	0.36	0.73	0.6		0.43	0.32	VINE
TSRYY	0.93	-0.52	0.84	0.93	0.45	0.61	0.53	0.43		0.77	TSRYY
NWINF	0.75	-0.45	0.79	0.75	0.2	0.51	0.56	0.32	0.77		NWINF
	BF-B	NAPA	MGPI	BF-A	DEO	PRNDY	VWE	VINE	TSRYY	NWINF

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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

BF-A	+ 1.0	BF-B
TSRYY	+ 0.93	BF-B
TSRYY	+ 0.93	BF-A
MGPI	+ 0.86	BF-B
BF-A	+ 0.85	MGPI
TSRYY	+ 0.84	MGPI

High negative correlations

VWE	- 0.84	NAPA
VINE	- 0.8	NAPA
PRNDY	- 0.77	NAPA
MGPI	- 0.59	NAPA
TSRYY	- 0.52	NAPA
BF-A	- 0.52	NAPA

Risk-Adjusted Indicators

There is a big difference between Constellation Stock performing well and Constellation Brands 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 Constellation Brands' 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
BF-B	1.57	(0.60)	0.00	(1.46)	0.00	0.00	1.82	(3.42)	16.61
NAPA	3.16	1.39	1.33	1.33	0.00	(3.54)	0.53	(1.45)	103.32
MGPI	2.11	(0.71)	0.00	(1.37)	0.00	0.00	3.53	(5.25)	16.99
BF-A	1.58	(0.57)	0.00	(1.16)	0.00	0.00	2.18	(3.39)	16.72
DEO	1.26	(0.17)	0.00	(0.48)	0.00	0.00	2.00	(2.81)	10.41
PRNDY	1.47	(0.21)	0.00	1.61	0.00	0.00	3.39	(3.48)	9.25
VWE	17.72	(2.32)	0.00	0.89	0.00	0.00	38.89	(40.74)	114.65
VINE	6.94	(0.16)	(0.01)	0.00	8.82	(7.17)	14.06	(13.85)	44.20
TSRYY	1.18	(0.28)	0.00	(0.41)	0.00	0.00	2.58	(2.49)	7.84
NWINF	5.60	0.02	0.00	0.06	0.00	0.00	11.86	(10.81)	34.08

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