Correlation Analysis Between General Mills and Kellogg

This module allows you to analyze existing cross correlation between General Mills and Kellogg Company. You can compare the effects of market volatilities on General Mills and Kellogg 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 General Mills with a short position of Kellogg. See also your portfolio center. Please also check ongoing floating volatility patterns of General Mills and Kellogg.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

General Mills  
00

Risk-Adjusted Performance

Over the last 30 days General Mills has generated negative risk-adjusted returns adding no value to investors with long positions. In defiance of relatively invariable forward-looking signals, General Mills is not utilizing all of its potentials. The new stock price agitation, may contribute to short term losses for the management.
Kellogg Company  
55

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kellogg Company are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Regardless of fairly sluggish technical and fundamental indicators, Kellogg may actually be approaching a critical reversion point that can send shares even higher in November 2019.

General Mills and Kellogg Volatility Contrast

 Predicted Return Density 
      Returns 

General Mills Inc  vs.  Kellogg Company

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, General Mills is expected to generate 13.59 times less return on investment than Kellogg. But when comparing it to its historical volatility, General Mills is 1.39 times less risky than Kellogg. It trades about 0.01 of its potential returns per unit of risk. Kellogg Company is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest  5,769  in Kellogg Company on September 21, 2019 and sell it today you would earn a total of  481.00  from holding Kellogg Company or generate 8.34% return on investment over 30 days.

Pair Corralation between General Mills and Kellogg

0.63
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for General Mills and Kellogg

General Mills Inc diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding General Mills Inc and Kellogg Company in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kellogg Company and General Mills 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 General Mills are associated (or correlated) with Kellogg. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kellogg Company has no effect on the direction of General Mills i.e. General Mills and Kellogg go up and down completely randomly.
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