CONSTELLATION Correlations

21036PBC1

98.12 1.03 1.04%

The current 90-days correlation between CONSTELLATION BRANDS INC and Joint Stock is 0.06 (i.e., Significant diversification). The correlation of CONSTELLATION 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.

CONSTELLATION Correlation With Market

Good diversification

The correlation between CONSTELLATION BRANDS INC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CONSTELLATION BRANDS INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CONSTELLATION Bond

0.83	KO	Coca Cola Aggressive Push	Pair Corr
0.66	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.85	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.65	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Moving against CONSTELLATION Bond

0.81	CSCO	Cisco Systems	Pair Corr
0.8	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.8	BAC	Bank of America Aggressive Push	Pair Corr
0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.68	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.59	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.58	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.49	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	KSPI	CGAM	QTWO	EVVTY	NOW	NXPL	NTES	RUM
KSPI		0.0	-0.41	0.49	-0.54	0.14	-0.42	0.24	KSPI
CGAM	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CGAM
QTWO	-0.41	0.0		-0.72	0.94	-0.66	-0.06	0.45	QTWO
EVVTY	0.49	0.0	-0.72		-0.77	0.53	-0.02	-0.19	EVVTY
NOW	-0.54	0.0	0.94	-0.77		-0.59	-0.07	0.33	NOW
NXPL	0.14	0.0	-0.66	0.53	-0.59		-0.09	-0.43	NXPL
NTES	-0.42	0.0	-0.06	-0.02	-0.07	-0.09		-0.29	NTES
RUM	0.24	0.0	0.45	-0.19	0.33	-0.43	-0.29		RUM
	KSPI	CGAM	QTWO	EVVTY	NOW	NXPL	NTES	RUM

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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

NOW	+ 0.94	QTWO
NXPL	+ 0.53	EVVTY
EVVTY	+ 0.49	KSPI
RUM	+ 0.45	QTWO
RUM	+ 0.33	NOW
RUM	+ 0.24	KSPI

High negative correlations

NOW	- 0.77	EVVTY
EVVTY	- 0.72	QTWO
NXPL	- 0.66	QTWO
NXPL	- 0.59	NOW
NOW	- 0.54	KSPI
RUM	- 0.43	NXPL

Risk-Adjusted Indicators

There is a big difference between CONSTELLATION Bond performing well and CONSTELLATION Corporate Bond 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'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
KSPI	2.24	(0.29)	0.00	(0.29)	0.00	0.00	4.85	(3.69)	21.57
CGAM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QTWO	1.65	0.42	0.30	0.38	1.15	(2.12)	3.82	(2.54)	18.28
EVVTY	1.26	(0.23)	0.00	(1.35)	0.00	0.00	1.54	(2.89)	19.65
NOW	1.36	0.23	0.17	0.30	1.23	(1.65)	3.04	(2.24)	8.12
NXPL	2.93	(0.25)	0.00	1.58	0.00	0.00	4.88	(7.80)	34.56
NTES	2.20	0.10	(0.03)	0.00	2.98	(2.52)	4.88	(5.14)	13.81
RUM	3.26	0.08	(0.01)	(0.30)	3.71	(3.91)	6.63	(5.27)	27.96

Be your own money manager

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