Beyond Meat Correlations

Stocks . Germany . 
Stock . Beyond Meat
0Q3 Stock   3.94  0.33  7.73%   
The current 90-days correlation between Beyond Meat and Apple Inc is 0.09 (i.e., Significant diversification). 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Beyond Meat Correlation With Market

Very good diversification

The correlation between Beyond Meat and DJI is -0.4 (i.e., Very good 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.
  
The ability to find closely correlated positions to Beyond Meat could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Beyond Meat 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 Beyond Meat - 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 Beyond Meat to buy it.

Moving together with Beyond Stock

  0.75HYU Hyundai MotorPairCorr
  0.73HYU Hyundai MotorPairCorr
  0.75HYU Hyundai MotorPairCorr

Moving against Beyond Stock

  0.88MFZA Mitsubishi UFJ FinancialPairCorr
  0.826GAA Grupo Aval AccionesPairCorr
  0.816GAA Grupo Aval AccionesPairCorr
  0.78MSF MicrosoftPairCorr
  0.77MSF MicrosoftPairCorr
  0.76MSF MicrosoftPairCorr
  0.76MSF MicrosoftPairCorr
  0.73APC Apple IncPairCorr
  0.73APC Apple IncPairCorr
  0.73APC Apple IncPairCorr
  0.72APC Apple IncPairCorr
  0.72APC Apple IncPairCorr
  0.71APC Apple IncPairCorr
  0.48E908 Lyxor 1PairCorr
  0.32DBPE Xtrackers LevDAXPairCorr
  0.31KBIA KB Financial GroupPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
APC  1.00  0.23  0.09  1.56  1.16 
(1.07)
 2.12 
(1.96)
 6.17 
APC  0.96  0.23  0.09  1.24  1.21 
(1.02)
 2.09 
(2.07)
 6.90 
APC  0.93  0.20  0.10  0.64  1.05 
(1.00)
 2.21 
(1.83)
 5.72 
APC  1.03  0.24  0.08 (4.56) 1.27 
(1.09)
 2.24 
(2.12)
 9.79 
APC  1.08  0.27  0.12 (8.66) 0.97 
(1.30)
 2.96 
(2.01)
 8.21 
APC  0.94  0.24  0.10  4.87  1.13 
(1.04)
 2.29 
(1.78)
 7.12 
MSF  0.97  0.17  0.06  0.81  1.16 
(1.23)
 2.55 
(1.44)
 8.71 
MSF  1.00  0.18  0.06  1.50  1.28 
(1.18)
 2.35 
(1.56)
 9.11 
MSF  1.03  0.19  0.06  2.09  1.40 
(1.27)
 2.42 
(1.55)
 11.42 
MSF  0.98  0.21  0.07  4.41  1.26 
(1.10)
 2.04 
(1.48)
 8.79 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Beyond Meat 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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