MGP Ingredients Inc (MGPI) — Stock Correlations & Overview
Over the past year, MGPI has moved most closely with DRVN, DEO, BF.A. Explore the stocks most correlated and inversely correlated with MGPI below, along with its price, financials, and company profile.
Stocks correlated with MGPI
Correlation of daily returns. Higher positive values move with MGPI; negative values move opposite it. Informational only, not investment advice.
Most correlated with MGPI
| Symbol | Company | Correlation |
|---|---|---|
| DRVN | Driven Brands Holdings Inc. Common StockSERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING | 0.55 |
| DEO | Diageo plc | 0.52 |
| BF.A | Brown-Forman Corporation Class ABEVERAGES | 0.46 |
| ODD | ODDITY Tech Ltd. Class A Ordinary Shares | 0.46 |
| BF.B | Brown-Forman Corporation Class BBEVERAGES | 0.45 |
Most inversely correlated with MGPI
| Symbol | Company | Correlation |
|---|---|---|
| EMTY | ProShares Decline of the Retail Store ETF | -0.37 |
| XWEL | XWELL, Inc. Common StockSERVICES-PERSONAL SERVICES | -0.37 |
| SZK | ProShares UltraShort Consumer Staples | -0.33 |
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.32 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.28 |
Frequently asked questions about MGPI correlations
- Which stocks are most correlated with MGPI?
- Based on one year of daily returns, the stocks most correlated with MGP Ingredients Inc (MGPI) are DRVN (0.55), DEO (0.52) and BF.A (0.46). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with MGPI?
- Over the past year, the stocks most inversely correlated with MGP Ingredients Inc (MGPI) are EMTY (-0.37), XWEL (-0.37) and SZK (-0.33). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these MGPI correlations calculated?
- We compute the correlation of daily returns between MGPI and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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