Heineken Correlations

HEINY Stock

USD 36.49 0.75 2.01%

The current 90-days correlation between Heineken NV and Anheuser Busch InBev SANV is 0.38 (i.e., Weak diversification). The correlation of Heineken 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.

Heineken Correlation With Market

Good diversification

The correlation between Heineken NV and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heineken NV and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Heineken OTC Stock

0.72	SHG	Shinhan Financial	Pair Corr
0.85	BCH	Banco De Chile	Pair Corr
0.86	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.7	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.88	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against Heineken OTC Stock

0.94	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.91	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.91	DIS	Walt Disney Aggressive Push	Pair Corr
0.9	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.87	FNMFO	Federal National Mortgage Upward Rally	Pair Corr
0.86	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.8	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.79	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.67	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.61	KB	KB Financial Group	Pair Corr
0.59	CIB	Bancolombia SA ADR	Pair Corr
0.55	ITCL	Banco Ita Chile	Pair Corr
0.46	AVAL	Grupo Aval	Pair Corr

Related Correlations Analysis

	BUDFF	TSGTY	CABGY	HKHHY	HINKF	BDWBY	BDWBF	TAP-A	KNBWY	STBFY
BUDFF		0.22	0.88	0.83	0.75	0.59	0.52	-0.66	0.47	0.69	BUDFF
TSGTY	0.22		0.03	-0.17	-0.28	0.63	0.7	-0.03	-0.57	-0.22	TSGTY
CABGY	0.88	0.03		0.94	0.87	0.55	0.48	-0.7	0.67	0.83	CABGY
HKHHY	0.83	-0.17	0.94		0.95	0.45	0.36	-0.68	0.79	0.86	HKHHY
HINKF	0.75	-0.28	0.87	0.95		0.37	0.28	-0.63	0.85	0.86	HINKF
BDWBY	0.59	0.63	0.55	0.45	0.37		0.89	-0.53	0.11	0.38	BDWBY
BDWBF	0.52	0.7	0.48	0.36	0.28	0.89		-0.42	-0.04	0.26	BDWBF
TAP-A	-0.66	-0.03	-0.7	-0.68	-0.63	-0.53	-0.42		-0.5	-0.47	TAP-A
KNBWY	0.47	-0.57	0.67	0.79	0.85	0.11	-0.04	-0.5		0.77	KNBWY
STBFY	0.69	-0.22	0.83	0.86	0.86	0.38	0.26	-0.47	0.77		STBFY
	BUDFF	TSGTY	CABGY	HKHHY	HINKF	BDWBY	BDWBF	TAP-A	KNBWY	STBFY

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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

HINKF	+ 0.95	HKHHY
HKHHY	+ 0.94	CABGY
BDWBF	+ 0.89	BDWBY
CABGY	+ 0.88	BUDFF
HINKF	+ 0.87	CABGY
STBFY	+ 0.86	HKHHY

High negative correlations

TAP-A	- 0.7	CABGY
TAP-A	- 0.68	HKHHY
TAP-A	- 0.66	BUDFF
TAP-A	- 0.63	HINKF
KNBWY	- 0.57	TSGTY
TAP-A	- 0.53	BDWBY

Risk-Adjusted Indicators

There is a big difference between Heineken OTC Stock performing well and Heineken OTC Stock 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 Heineken'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BUDFF	1.12	(0.17)	0.00	0.96	0.00	0.00	2.18	(2.95)	10.36
TSGTY	2.92	0.24	0.02	0.94	3.86	(4.29)	8.74	(7.27)	33.66
CABGY	1.33	(0.19)	0.00	(1.28)	0.00	0.00	2.74	(2.54)	9.08
HKHHY	1.01	(0.28)	0.00	53.16	0.00	0.00	1.77	(2.55)	7.31
HINKF	1.42	(0.26)	0.00	0.80	0.00	0.00	2.57	(3.23)	8.87
BDWBY	3.11	(0.07)	0.00	0.40	0.00	0.00	7.76	(9.03)	22.76
BDWBF	2.98	(0.04)	0.00	0.16	0.00	0.00	7.69	(10.89)	55.21
TAP-A	0.59	0.08	(0.02)	(0.43)	0.94	(2.01)	2.22	(1.87)	7.84
KNBWY	1.02	(0.08)	0.00	0.46	0.00	0.00	2.23	(2.61)	5.89
STBFY	1.11	(0.07)	0.00	0.38	0.00	0.00	1.93	(2.71)	5.47

Be your own money manager

Our tools can tell you how much better you can do entering a position in Heineken 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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Heineken Corporate Management

Elected by the shareholders, the Heineken's board of directors comprises two types of representatives: Heineken inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Heineken. The board's role is to monitor Heineken's management team and ensure that shareholders' interests are well served. Heineken's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Heineken's outside directors are responsible for providing unbiased perspectives on the board's policies.

Ronald Elzen	Chief Officer	Profile
Frans Eusman	Chief Business Services Officer, Member of the Executive Committee	Profile
Ernst Weert	Ex Affairs	Profile
Rudolf Brink	Chairman CEO	Profile
Jan Linden	Pres Region	Profile

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