Correlation Between Mondelez International and Dean Foods
Can any of the company-specific risk be diversified away by investing in both Mondelez International and Dean Foods at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mondelez International and Dean Foods into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mondelez International and Dean Foods, you can compare the effects of market volatilities on Mondelez International and Dean Foods and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Mondelez International with a short position of Dean Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mondelez International and Dean Foods.
Diversification Opportunities for Mondelez International and Dean Foods
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Mondelez and Dean is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Mondelez International and Dean Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dean Foods and Mondelez International is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Mondelez International are associated (or correlated) with Dean Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dean Foods has no effect on the direction of Mondelez International i.e., Mondelez International and Dean Foods go up and down completely randomly.
Pair Corralation between Mondelez International and Dean Foods
If you would invest 6,961 in Mondelez International on January 26, 2024 and sell it today you would earn a total of 170.00 from holding Mondelez International or generate 2.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Mondelez International vs. Dean Foods
Performance |
| Timeline |
| Mondelez International |
| Dean Foods |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Mondelez International and Dean Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mondelez International and Dean Foods
The main advantage of trading using opposite Mondelez International and Dean Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mondelez International position performs unexpectedly, Dean Foods can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Dean Foods will offset losses from the drop in Dean Foods' long position.| Mondelez International vs. Chocoladefabriken Lindt Sprngli | Mondelez International vs. Barry Callebaut AG | Mondelez International vs. Tootsie Roll Industries |
| Dean Foods vs. Continental Beverage Brands | Dean Foods vs. Ambev SA ADR | Dean Foods vs. US GoldMining Common | Dean Foods vs. Sandstorm Gold Ltd |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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