Molson Coors Correlations

NY7 Stock

EUR 43.01 0.58 1.37%

The current 90-days correlation between Molson Coors Brewing and BUDWEISER BREWUNSPADR4 is 0.15 (i.e., Average diversification). The correlation of Molson Coors 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.

Molson Coors Correlation With Market

Good diversification

The correlation between Molson Coors Brewing and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Molson Coors Brewing and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Molson Stock

0.74	CHK	China Resources Beer	Pair Corr
0.9	NY70	MOLSON RS BEVERAGE	Pair Corr
0.98	65K	MOLSON RS CDA	Pair Corr

Moving against Molson Stock

0.89	OS3	Otello ASA	Pair Corr
0.73	HEI	Heidelberg Materials	Pair Corr
0.72	AG8	AGILENT TECH	Pair Corr
0.7	JOT	ELEKTROBIT	Pair Corr
0.66	KGHA	KGHM Polska Miedz	Pair Corr
0.65	LYV	Lundin Energy AB	Pair Corr
0.64	E908	Lyxor 1	Pair Corr
0.56	D7GA	NEL ASA ADR30	Pair Corr
0.55	DBPE	Xtrackers LevDAX	Pair Corr
0.53	SEBC	Skandinaviska Enskilda	Pair Corr
0.42	B5R	Berkeley Energia	Pair Corr

Related Correlations Analysis

	FOMA	ITKA	4BB1	CHK	NY7	NY70	65K	0R1
FOMA		0.37	0.22	0.16	0.57	0.5	0.52	0.41	FOMA
ITKA	0.37		0.25	-0.58	-0.26	-0.22	-0.34	0.36	ITKA
4BB1	0.22	0.25		0.32	0.36	0.4	0.31	0.24	4BB1
CHK	0.16	-0.58	0.32		0.74	0.68	0.74	-0.09	CHK
NY7	0.57	-0.26	0.36	0.74		0.9	0.98	0.24	NY7
NY70	0.5	-0.22	0.4	0.68	0.9		0.9	0.2	NY70
65K	0.52	-0.34	0.31	0.74	0.98	0.9		0.23	65K
0R1	0.41	0.36	0.24	-0.09	0.24	0.2	0.23		0R1
	FOMA	ITKA	4BB1	CHK	NY7	NY70	65K	0R1

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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

65K	+ 0.98	NY7
NY70	+ 0.9	NY7
65K	+ 0.9	NY70
NY7	+ 0.74	CHK
65K	+ 0.74	CHK
NY70	+ 0.68	CHK

High negative correlations

CHK	- 0.58	ITKA
65K	- 0.34	ITKA
NY7	- 0.26	ITKA
NY70	- 0.22	ITKA
0R1	- 0.09	CHK

Risk-Adjusted Indicators

There is a big difference between Molson Stock performing well and Molson Coors 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 Molson Coors' 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
FOMA	1.05	0.00	0.00	0.13	0.00	0.00	2.86	(2.19)	6.27
ITKA	0.90	0.11	(0.04)	(0.29)	0.92	(1.32)	1.77	(1.72)	5.07
4BB1	2.34	0.03	(0.03)	11.67	3.53	(3.25)	3.87	(4.35)	43.33
CHK	1.70	(0.06)	0.00	(0.75)	0.00	0.00	4.56	(3.47)	9.62
NY7	1.20	(0.26)	0.00	1.66	0.00	0.00	2.19	(2.55)	8.15
NY70	1.36	(0.12)	0.00	2.51	0.00	0.00	3.23	(4.80)	17.32
65K	1.24	(0.33)	0.00	(0.71)	0.00	0.00	2.40	(3.54)	7.00
0R1	1.44	(0.01)	0.00	0.19	0.00	0.00	2.21	(2.24)	20.50

Be your own money manager

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