Heineken Holding Correlations

4H5 Stock

EUR 65.55 0.20 0.30%

The current 90-days correlation between Heineken Holding and Heineken NV is 0.51 (i.e., Very weak diversification). The correlation of Heineken Holding 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.

Heineken Holding Correlation With Market

Average diversification

The correlation between Heineken Holding NV and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heineken Holding NV and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Heineken Stock

0.63	FOMC	FOMECONMEXSAB DCV UTS	Pair Corr
0.85	HNK1	Heineken NV Earnings Call This Week	Pair Corr
0.82	HNK2	HEINEKEN SP ADR Earnings Call This Week	Pair Corr
0.83	AMNA	Ambev SA	Pair Corr
0.68	TSI	Tsingtao Brewery	Pair Corr
0.84	CBGA	Carlsberg AS	Pair Corr
0.73	KIR	Kirin Holdings	Pair Corr
0.86	TOMA	Toyota Motor	Pair Corr

Moving against Heineken Stock

0.71	C6TB	CHINA BANK ADR20	Pair Corr
0.7	JOT	ELEKTROBIT	Pair Corr
0.69	2WGA	WOORI FIN GRP Earnings Call This Week	Pair Corr
0.68	ICKB	INDCOMMBK CHINA ADR20	Pair Corr
0.61	ICK	Industrial and Commercial	Pair Corr
0.58	PKX	POSCO Holdings	Pair Corr
0.55	HEI	Heidelberg Materials	Pair Corr
0.52	SSU	Samsung Electronics Earnings Call This Week	Pair Corr
0.48	5EE	MEBUKI FINANCIAL	Pair Corr
0.4	KGHA	KGHM Polska Miedz	Pair Corr

Related Correlations Analysis

	FOMC	HNK1	HNK2	AMNA	4H5	CBGB	TSI	CBGA	ABW	KIR
FOMC		0.55	0.59	0.74	0.63	0.56	0.64	0.65	0.36	0.6	FOMC
HNK1	0.55		0.81	0.66	0.85	0.41	0.62	0.71	0.48	0.66	HNK1
HNK2	0.59	0.81		0.64	0.82	0.44	0.5	0.67	0.37	0.56	HNK2
AMNA	0.74	0.66	0.64		0.83	0.54	0.61	0.78	0.49	0.67	AMNA
4H5	0.63	0.85	0.82	0.83		0.54	0.68	0.84	0.55	0.73	4H5
CBGB	0.56	0.41	0.44	0.54	0.54		0.31	0.58	-0.04	0.17	CBGB
TSI	0.64	0.62	0.5	0.61	0.68	0.31		0.66	0.64	0.79	TSI
CBGA	0.65	0.71	0.67	0.78	0.84	0.58	0.66		0.58	0.7	CBGA
ABW	0.36	0.48	0.37	0.49	0.55	-0.04	0.64	0.58		0.89	ABW
KIR	0.6	0.66	0.56	0.67	0.73	0.17	0.79	0.7	0.89		KIR
	FOMC	HNK1	HNK2	AMNA	4H5	CBGB	TSI	CBGA	ABW	KIR

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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

KIR	+ 0.89	ABW
4H5	+ 0.85	HNK1
CBGA	+ 0.84	4H5
4H5	+ 0.83	AMNA
4H5	+ 0.82	HNK2
HNK2	+ 0.81	HNK1

High negative correlations

ABW

- 0.04

CBGB

Risk-Adjusted Indicators

There is a big difference between Heineken Stock performing well and Heineken Holding 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 Heineken Holding'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
FOMC	1.45	(0.07)	0.00	(0.37)	0.00	0.00	3.24	(3.39)	8.47
HNK1	0.92	(0.02)	(0.12)	0.06	1.22	(0.94)	1.53	(2.00)	5.32
HNK2	1.14	0.05	(0.09)	(0.27)	1.38	(1.29)	2.63	(2.59)	7.43
AMNA	1.22	0.05	0.00	0.03	0.00	0.00	2.94	(1.96)	9.32
4H5	0.84	(0.06)	0.00	(0.13)	0.00	0.00	1.95	(2.19)	7.16
CBGB	0.97	0.00	0.00	0.16	0.00	0.00	2.37	(2.58)	5.45
TSI	1.42	(0.13)	0.00	2.35	0.00	0.00	2.87	(3.33)	8.34
CBGA	0.82	(0.08)	0.00	(0.34)	0.00	0.00	1.61	(2.26)	5.79
ABW	1.19	(0.18)	0.00	(0.97)	0.00	0.00	2.15	(2.60)	5.74
KIR	0.88	(0.16)	0.00	1.34	0.00	0.00	1.63	(2.30)	5.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in Heineken Holding 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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Heineken Holding Corporate Management

Elected by the shareholders, the Heineken Holding's board of directors comprises two types of representatives: Heineken Holding inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Heineken. The board's role is to monitor Heineken Holding's management team and ensure that shareholders' interests are well served. Heineken Holding's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Heineken Holding's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jose Martinez	Director Relations	Profile
Sarah Backhouse	Director Communication	Profile
Laurence Debroux	Ex Director	Profile
Charlene CarvalhoHeineken	Ex Director	Profile
Michael Fuchs	Global Mang	Profile
Jan Linden	Managing Bus	Profile
Michel Carvalho	Ex Director	Profile

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