Beyond Meat Correlations

BYND Stock

USD 3.50 0.16 4.79%

The correlation of Beyond Meat 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.

Beyond Meat Correlation With Market

Modest diversification

The correlation between Beyond Meat and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Meat and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Beyond Meat. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For information on how to trade Beyond Stock refer to our How to Trade Beyond Stock guide.

Moving together with Beyond Stock

0.67	BUD	Anheuser Busch Inbev	Pair Corr
0.73	SFD	Smithfield Foods, Common	Pair Corr
0.62	LWAY	Lifeway Foods	Pair Corr
0.83	OTLY	Oatly Group AB	Pair Corr
0.72	RKDA	Arcadia Biosciences	Pair Corr
0.94	DG	Dollar General	Pair Corr
0.87	EL	Estee Lauder Companies Earnings Call Tomorrow	Pair Corr
0.81	PM	Philip Morris Intern Earnings Call Tomorrow	Pair Corr
0.7	TR	Tootsie Roll Industries Earnings Call This Week	Pair Corr

Moving against Beyond Stock

0.93	IMG	CIMG Inc Symbol Change	Pair Corr
0.9	CCU	Compania Cervecerias	Pair Corr
0.9	SAM	Boston Beer Earnings Call This Week	Pair Corr
0.85	STZ	Constellation Brands	Pair Corr
0.75	PAVS	Paranovus Entertainment	Pair Corr
0.75	GO	Grocery Outlet Holding	Pair Corr
0.74	K	Kellanova Earnings Call This Week	Pair Corr
0.64	BJ	BJs Wholesale Club	Pair Corr
0.55	TWG	Top Wealth Group	Pair Corr
0.51	TSN	Tyson Foods	Pair Corr
0.38	GV	Visionary Education	Pair Corr
0.34	ABEV	Ambev SA ADR	Pair Corr
0.34	BRID	Bridgford Foods	Pair Corr
0.87	WGRX	Wellgistics Health, Buyout Trend	Pair Corr
0.82	JZ	Jianzhi Education	Pair Corr
0.81	FARM	Farmer Bros	Pair Corr
0.75	EEIQ	Elite Education Group	Pair Corr
0.65	WVVI	Willamette Valley	Pair Corr
0.58	EDTK	Skillful Craftsman	Pair Corr
0.57	DOLE	Dole PLC	Pair Corr
0.44	VSTA	Vasta Platform	Pair Corr
0.32	KO	Coca Cola Earnings Call Tomorrow	Pair Corr
0.32	UL	Unilever PLC ADR	Pair Corr

Related Correlations Analysis

	VGFCQ	SMFL	KHC	HRL	K	GIS	CAG	CPB	MKC	BSFC
VGFCQ		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	VGFCQ
SMFL	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SMFL
KHC	0.0	0.0		-0.23	0.57	0.71	0.63	0.77	0.35	0.0	KHC
HRL	0.0	0.0	-0.23		-0.25	0.0	-0.16	-0.23	0.07	0.0	HRL
K	0.0	0.0	0.57	-0.25		0.75	0.79	0.84	0.16	0.0	K
GIS	0.0	0.0	0.71	0.0	0.75		0.95	0.94	0.46	0.0	GIS
CAG	0.0	0.0	0.63	-0.16	0.79	0.95		0.95	0.45	0.0	CAG
CPB	0.0	0.0	0.77	-0.23	0.84	0.94	0.95		0.39	0.0	CPB
MKC	0.0	0.0	0.35	0.07	0.16	0.46	0.45	0.39		0.0	MKC
BSFC	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BSFC
	VGFCQ	SMFL	KHC	HRL	K	GIS	CAG	CPB	MKC	BSFC

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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

CAG	+ 0.95	GIS
CPB	+ 0.95	CAG
CPB	+ 0.94	GIS
CPB	+ 0.84	K
CAG	+ 0.79	K
CPB	+ 0.77	KHC

High negative correlations

K	- 0.25	HRL
CPB	- 0.23	HRL
HRL	- 0.23	KHC
CAG	- 0.16	HRL
BSFC	- 0.0	MKC
BSFC	- 0.0	CPB

Risk-Adjusted Indicators

There is a big difference between Beyond Stock performing well and Beyond Meat 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 Beyond Meat'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VGFCQ	0.00	0.00	0.00	0.00	0.00	0.00
SMFL	0.00	0.00	0.00	0.00	0.00	0.00
KHC	1.08	(0.15)	(0.17)	2.26	(2.18)	6.80
HRL	0.98	(0.13)	(0.12)	1.92	(1.88)	6.69
K	0.30	(0.06)	(0.38)	0.53	(0.68)	2.13
GIS	0.97	(0.30)	(0.42)	1.83	(2.38)	7.19
CAG	1.06	(0.53)	(0.84)	1.52	(2.76)	7.20
CPB	1.12	(0.41)	(0.52)	1.89	(2.47)	5.97
MKC	1.11	(0.21)	(0.16)	1.82	(2.25)	7.18
BSFC	0.00	0.00	0.00	0.00	0.00	0.00

Beyond Meat Corporate Management

Yi Luo	Corporate VP	Profile
Dariush Ajami	Chief Officer	Profile
Chad Peffer	Interim Officer	Profile
Drew Lufkin	Senior Sales	Profile
Margaret Trask	Chief Officer	Profile
Paul Sheppard	Vice Relations	Profile

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