Nomad Foods Correlations

NOMD Stock

USD 17.43 0.16 0.91%

The current 90-days correlation between Nomad Foods and J J Snack is 0.58 (i.e., Very weak diversification). The correlation of Nomad Foods 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.

Nomad Foods Correlation With Market

Modest diversification

The correlation between Nomad Foods and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nomad Foods and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nomad Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nomad Foods. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

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

Moving together with Nomad Stock

0.63	K	Kellanova Earnings Call This Week	Pair Corr
0.89	CCU	Compania Cervecerias	Pair Corr
0.84	IMG	CIMG Inc Symbol Change	Pair Corr
0.77	SAM	Boston Beer Earnings Call This Week	Pair Corr
0.76	STZ	Constellation Brands	Pair Corr
0.74	TSN	Tyson Foods	Pair Corr
0.9	PAVS	Paranovus Entertainment	Pair Corr
0.65	BJ	BJs Wholesale Club	Pair Corr
0.9	GO	Grocery Outlet Holding	Pair Corr
0.92	JZ	Jianzhi Education	Pair Corr

Moving against Nomad Stock

0.84	RKDA	Arcadia Biosciences	Pair Corr
0.83	BUD	Anheuser Busch Inbev	Pair Corr
0.83	DG	Dollar General	Pair Corr
0.79	SFD	Smithfield Foods, Common	Pair Corr
0.75	EL	Estee Lauder Companies Earnings Call Tomorrow	Pair Corr
0.7	OTLY	Oatly Group AB	Pair Corr
0.67	INGR	Ingredion Incorporated	Pair Corr
0.37	LWAY	Lifeway Foods	Pair Corr
0.94	EWCZ	European Wax Center	Pair Corr
0.81	PM	Philip Morris Intern Earnings Call This Week	Pair Corr
0.8	DLTR	Dollar Tree	Pair Corr
0.66	TR	Tootsie Roll Industries Earnings Call This Week	Pair Corr
0.65	WILC	G Willi Food	Pair Corr
0.65	FEDU	Four Seasons Education	Pair Corr
0.63	EDBL	Edible Garden AG	Pair Corr
0.62	FAMI	Farmmi Inc	Pair Corr
0.61	YQ	17 Education Technology	Pair Corr
0.56	DTCK	Davis Commodities	Pair Corr

Related Correlations Analysis

	JJSF	HAIN	LANC	THS	SMPL	POST	BRBR
JJSF		0.88	0.33	0.42	0.61	0.67	0.85	JJSF
HAIN	0.88		0.28	0.61	0.74	0.71	0.94	HAIN
LANC	0.33	0.28		0.33	0.54	0.2	0.41	LANC
THS	0.42	0.61	0.33		0.82	0.47	0.67	THS
SMPL	0.61	0.74	0.54	0.82		0.58	0.81	SMPL
POST	0.67	0.71	0.2	0.47	0.58		0.72	POST
BRBR	0.85	0.94	0.41	0.67	0.81	0.72		BRBR
	JJSF	HAIN	LANC	THS	SMPL	POST	BRBR

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Risk-Adjusted Indicators

There is a big difference between Nomad Stock performing well and Nomad Foods 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 Nomad Foods' 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
JJSF	1.60	(0.33)	0.00	(0.30)	0.00	0.00	2.65	(3.01)	14.87
HAIN	4.26	(0.94)	0.00	(0.34)	0.00	0.00	9.21	(8.19)	58.06
LANC	1.30	0.02	(0.04)	(0.04)	3.18	(1.14)	2.71	(2.02)	19.88
THS	1.95	(0.38)	0.00	(0.17)	0.00	0.00	3.31	(5.77)	14.38
SMPL	1.27	(0.31)	0.00	(0.25)	0.00	0.00	2.25	(3.00)	6.72
POST	0.92	(0.22)	0.00	(0.38)	0.00	0.00	1.84	(1.87)	4.92
BRBR	1.93	(0.56)	0.00	(0.21)	0.00	0.00	2.53	(3.24)	22.25

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