Agriculture & Nutrition
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Diversification
Agriculture & Nutrition
Last updated Mar 1, 2025
Asset Allocation
| Position | Category/Sector | Target Weight |
|---|---|---|
ABT Abbott Laboratories | Healthcare | 3.45% |
ADM Archer-Daniels-Midland Company | Consumer Defensive | 3.45% |
AGCO AGCO Corporation | Industrials | 3.45% |
BAS.DE BASF SE | Basic Materials | 3.45% |
BG Bunge Limited | Consumer Defensive | 3.45% |
CAG Conagra Brands, Inc. | Consumer Defensive | 3.45% |
CCK Crown Holdings, Inc. | Consumer Cyclical | 3.45% |
CF CF Industries Holdings, Inc. | Basic Materials | 3.45% |
CHEF The Chefs' Warehouse, Inc. | Consumer Defensive | 3.45% |
CNHI CNH Industrial N.V. | Industrials | 3.45% |
CTVA Corteva, Inc. | Basic Materials | 3.45% |
DE Deere & Company | Industrials | 3.45% |
HRL Hormel Foods Corporation | Consumer Defensive | 3.45% |
IFF International Flavors & Fragrances Inc. | Basic Materials | 3.45% |
INGR Ingredion Incorporated | Consumer Defensive | 3.45% |
K Kellogg Company | Consumer Defensive | 3.45% |
KO The Coca-Cola Company | Consumer Defensive | 3.45% |
MNST Monster Beverage Corporation | Consumer Defensive | 3.45% |
NSRGY Nestlé S.A. | Consumer Defensive | 3.45% |
NTR.TO | 3.45% | |
OI | 3.45% | |
PEP | 3.45% | |
PFGC | 3.45% | |
PG | 3.45% | |
SAM | 3.45% | |
SJM | 3.45% | |
TSN | 3.45% | |
TTEK | 3.45% | |
UL | 3.45% |
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Agriculture & Nutrition, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends. The portfolio is rebalanced every 3 months.
Agriculture & Nutrition
Benchmark (^GSPC)
Portfolio components
The earliest data available for this chart is May 24, 2019, corresponding to the inception date of CTVA
Returns By Period
| YTD | 1M | 6M | 1Y | 5Y* | 10Y* | |
|---|---|---|---|---|---|---|
^GSPC S&P 500 | 1.24% | -1.42% | 5.42% | 15.91% | 14.73% | 11.02% |
| Agriculture & Nutrition | 3.37% | 0.52% | -1.32% | 6.35% | 10.99% | N/A |
| Portfolio components: | ||||||
ABT Abbott Laboratories | 22.65% | 7.88% | 23.06% | 18.72% | 13.72% | 13.46% |
PG | 4.32% | 4.73% | 2.56% | 12.14% | 10.45% | N/A |
TTEK | -26.60% | -20.54% | -38.41% | -16.40% | 13.74% | N/A |
OI | 5.81% | -3.94% | -9.61% | -33.35% | 1.49% | N/A |
CCK Crown Holdings, Inc. | 8.39% | 2.01% | -0.59% | 18.85% | 4.50% | 6.10% |
UL | 0.66% | -0.54% | -11.20% | 18.96% | 3.74% | N/A |
HRL Hormel Foods Corporation | -7.85% | -4.50% | -10.37% | -11.05% | -5.24% | 2.16% |
PFGC | 0.70% | -5.72% | 14.07% | 10.89% | 14.47% | N/A |
CHEF The Chefs' Warehouse, Inc. | 26.89% | 16.19% | 46.11% | 63.95% | 15.41% | 11.73% |
PEP | 0.93% | 1.84% | -9.79% | -4.50% | 5.36% | N/A |
KO The Coca-Cola Company | 14.38% | 12.18% | -0.31% | 23.27% | 7.99% | 8.75% |
K Kellogg Company | 2.38% | 1.43% | 4.31% | 54.79% | 10.49% | 6.74% |
BG Bunge Limited | -3.66% | -1.60% | -25.55% | -17.82% | 11.71% | 1.84% |
SJM | 1.41% | 4.48% | -1.66% | -6.26% | 3.94% | N/A |
MNST Monster Beverage Corporation | 3.98% | 12.19% | 15.96% | -7.04% | 11.08% | 8.91% |
TSN | 7.67% | 9.48% | -3.08% | 19.08% | 0.68% | N/A |
CAG Conagra Brands, Inc. | -6.70% | -1.35% | -16.02% | -3.49% | 2.20% | 2.61% |
SAM | -18.74% | -2.75% | -10.29% | -19.94% | -7.89% | N/A |
ADM Archer-Daniels-Midland Company | -5.53% | -6.84% | -21.01% | -9.68% | 7.12% | 2.88% |
INGR Ingredion Incorporated | -4.50% | -4.27% | -1.61% | 14.35% | 12.23% | 7.48% |
IFF International Flavors & Fragrances Inc. | -3.24% | -6.06% | -20.65% | 9.72% | -5.03% | -1.51% |
NSRGY Nestlé S.A. | 18.12% | 13.56% | -9.75% | -4.64% | 0.43% | 5.13% |
DE Deere & Company | 13.47% | 0.89% | 25.56% | 32.67% | 25.95% | 20.42% |
CNHI CNH Industrial N.V. | 0.00% | 0.00% | 0.00% | -1.12% | 7.00% | N/A |
AGCO AGCO Corporation | 4.05% | -6.86% | 7.18% | -9.11% | 13.18% | 9.35% |
CTVA Corteva, Inc. | 10.57% | -3.51% | 10.55% | 18.39% | 18.56% | N/A |
NTR.TO | 17.20% | 1.51% | 10.20% | 3.58% | 8.15% | N/A |
BAS.DE BASF SE | 15.54% | 5.70% | 0.80% | 5.19% | 3.52% | -0.50% |
CF CF Industries Holdings, Inc. | -4.45% | -11.59% | -1.31% | 0.69% | 18.62% | 5.92% |
*Annualized
Monthly Returns
The table below presents the monthly returns of Agriculture & Nutrition, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 2.84% | 0.52% | 3.37% | ||||||||||
| 2024 | -2.40% | 2.20% | 4.40% | -3.11% | 2.05% | -3.37% | 3.89% | 3.96% | 1.59% | -3.49% | 2.72% | -5.22% | 2.59% |
| 2023 | 3.68% | -4.64% | 0.78% | 1.14% | -7.74% | 5.75% | 5.35% | -5.33% | -5.41% | -5.11% | 4.20% | 5.44% | -3.31% |
| 2022 | -2.45% | 2.49% | 3.66% | -1.36% | 0.73% | -7.59% | 5.75% | -2.35% | -7.92% | 11.31% | 6.88% | -3.35% | 4.04% |
| 2021 | -0.53% | 6.75% | 5.84% | 3.16% | 1.09% | -2.69% | -1.71% | 1.29% | -2.15% | 3.30% | -2.94% | 8.90% | 21.30% |
| 2020 | -2.64% | -8.98% | -12.53% | 10.55% | 3.34% | 0.23% | 7.55% | 7.01% | -0.84% | -0.69% | 13.92% | 4.23% | 19.44% |
| 2019 | -2.60% | 8.19% | 1.63% | -1.20% | 1.47% | -2.09% | 3.04% | 3.78% | 12.40% |
Expense Ratio
Agriculture & Nutrition has an expense ratio of 0.00%, indicating no management fees are charged. Below you can find the expense ratios of portfolio funds side-by-side and effortlessly compare their relative costs.
The portfolio doesn't hold funds that charge fees
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of Agriculture & Nutrition is 11, meaning it’s performing worse than 89% of other portfolios on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Overall Rank
Sharpe Ratio Rank
Sortino Ratio Rank
Omega Ratio Rank
Calmar Ratio Rank
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.
Risk-Adjusted Performance Indicators
This table presents a comparison of risk-adjusted performance metrics for positions. Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Portfolio components
| Sharpe ratio | Sortino ratio | Omega ratio | Calmar ratio | Martin ratio | |
|---|---|---|---|---|---|
ABT Abbott Laboratories | 0.91 | 1.45 | 1.18 | 0.67 | 2.09 |
PG | 0.64 | 0.93 | 1.13 | 0.87 | 2.43 |
TTEK | -0.67 | -0.76 | 0.89 | -0.46 | -1.34 |
OI | -0.69 | -0.84 | 0.90 | -0.53 | -1.06 |
CCK Crown Holdings, Inc. | 0.77 | 1.36 | 1.16 | 0.37 | 2.12 |
UL | 1.08 | 1.63 | 1.23 | 1.10 | 2.57 |
HRL Hormel Foods Corporation | -0.61 | -0.68 | 0.91 | -0.30 | -1.01 |
PFGC | 0.55 | 0.95 | 1.12 | 0.66 | 1.69 |
CHEF The Chefs' Warehouse, Inc. | 2.22 | 2.87 | 1.38 | 3.25 | 13.08 |
PEP | -0.26 | -0.24 | 0.97 | -0.20 | -0.48 |
KO The Coca-Cola Company | 1.52 | 2.29 | 1.28 | 1.41 | 3.07 |
K Kellogg Company | 2.42 | 6.20 | 1.93 | 2.54 | 18.90 |
BG Bunge Limited | -0.75 | -0.89 | 0.88 | -0.44 | -0.96 |
SJM | -0.24 | -0.19 | 0.98 | -0.16 | -0.61 |
MNST Monster Beverage Corporation | -0.32 | -0.27 | 0.96 | -0.29 | -0.49 |
TSN | 0.66 | 1.05 | 1.14 | 0.33 | 1.75 |
CAG Conagra Brands, Inc. | -0.27 | -0.22 | 0.97 | -0.17 | -0.53 |
SAM | -0.56 | -0.82 | 0.91 | -0.23 | -1.52 |
ADM Archer-Daniels-Midland Company | -0.46 | -0.50 | 0.94 | -0.21 | -0.77 |
INGR Ingredion Incorporated | 0.59 | 1.22 | 1.16 | 0.75 | 1.96 |
IFF International Flavors & Fragrances Inc. | 0.11 | 0.31 | 1.05 | 0.06 | 0.25 |
NSRGY Nestlé S.A. | -0.34 | -0.38 | 0.95 | -0.18 | -0.51 |
DE Deere & Company | 1.23 | 1.90 | 1.24 | 1.40 | 4.40 |
CNHI CNH Industrial N.V. | -0.11 | -0.06 | 0.98 | -0.04 | -0.16 |
AGCO AGCO Corporation | -0.42 | -0.41 | 0.95 | -0.33 | -0.66 |
CTVA Corteva, Inc. | 0.66 | 1.05 | 1.14 | 0.66 | 2.64 |
NTR.TO | 0.06 | 0.28 | 1.03 | 0.03 | 0.10 |
BAS.DE BASF SE | 0.08 | 0.31 | 1.04 | 0.05 | 0.16 |
CF CF Industries Holdings, Inc. | -0.08 | 0.10 | 1.01 | -0.06 | -0.25 |
Agriculture & Nutrition
Benchmark (^GSPC)
Portfolio components
Dividends
Dividend yield
Agriculture & Nutrition provided a 2.52% dividend yield over the last twelve months.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Portfolio | 2.52% | 2.62% | 2.53% | 2.13% | 1.93% | 1.99% | 1.96% | 2.13% | 1.71% | 1.76% | 1.84% | 1.70% |
| Portfolio components: | ||||||||||||
ABT Abbott Laboratories | 1.62% | 1.95% | 1.85% | 1.71% | 1.28% | 1.32% | 1.47% | 1.55% | 1.86% | 2.71% | 2.14% | 1.95% |
PG | 2.32% | 2.36% | 2.55% | 2.38% | 2.08% | 2.24% | 2.37% | 3.09% | 2.98% | 3.18% | 3.32% | 2.78% |
TTEK | 2.38% | 2.25% | 1.78% | 1.25% | 0.92% | 1.16% | 0.66% | 1.82% | 4.05% | 2.48% | 3.65% | 1.84% |
OI | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.42% | 1.68% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CCK Crown Holdings, Inc. | 1.12% | 1.21% | 1.04% | 1.07% | 0.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UL | 3.31% | 3.29% | 3.83% | 3.61% | 3.77% | 3.07% | 3.17% | 3.46% | 2.79% | 3.40% | 3.02% | 3.69% |
HRL Hormel Foods Corporation | 3.97% | 3.60% | 3.43% | 2.28% | 2.01% | 2.00% | 1.86% | 1.76% | 1.87% | 1.67% | 1.26% | 1.54% |
PFGC | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CHEF The Chefs' Warehouse, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PEP | 2.66% | 3.52% | 2.92% | 2.51% | 2.45% | 2.71% | 2.77% | 3.25% | 2.64% | 2.83% | 2.76% | 2.68% |
KO The Coca-Cola Company | 2.72% | 3.12% | 3.12% | 2.77% | 2.84% | 2.99% | 2.89% | 3.29% | 3.23% | 3.38% | 3.07% | 2.89% |
K Kellogg Company | 2.05% | 2.79% | 3.99% | 3.28% | 3.59% | 3.66% | 3.27% | 3.86% | 3.12% | 2.77% | 2.74% | 2.90% |
BG Bunge Limited | 3.67% | 3.48% | 2.55% | 2.31% | 2.20% | 3.05% | 3.48% | 3.59% | 2.62% | 2.21% | 2.11% | 1.41% |
SJM | 3.89% | 3.89% | 3.29% | 2.54% | 2.78% | 3.08% | 3.32% | 3.49% | 2.46% | 2.22% | 2.12% | 2.42% |
MNST Monster Beverage Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSN | 3.23% | 3.43% | 3.59% | 2.99% | 2.06% | 2.65% | 2.11% | 2.39% | 1.48% | 1.09% | 0.84% | 0.81% |
CAG Conagra Brands, Inc. | 5.48% | 5.05% | 4.75% | 3.32% | 3.44% | 2.52% | 2.49% | 3.99% | 2.19% | 1.97% | 2.37% | 2.76% |
SAM | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% |
ADM Archer-Daniels-Midland Company | 4.26% | 3.96% | 2.49% | 1.72% | 2.19% | 2.86% | 3.02% | 3.27% | 3.19% | 2.63% | 3.05% | 1.85% |
INGR Ingredion Incorporated | 2.42% | 1.72% | 2.75% | 2.78% | 2.67% | 3.23% | 2.70% | 2.68% | 1.57% | 1.52% | 1.82% | 1.98% |
IFF International Flavors & Fragrances Inc. | 1.96% | 1.89% | 4.00% | 3.05% | 2.07% | 2.79% | 2.29% | 2.12% | 1.74% | 2.04% | 1.72% | 1.70% |
NSRGY Nestlé S.A. | 3.53% | 4.17% | 2.76% | 2.64% | 2.18% | 2.34% | 2.24% | 3.12% | 2.68% | 3.16% | 3.11% | 3.32% |
DE Deere & Company | 1.25% | 1.42% | 1.33% | 1.05% | 1.14% | 1.13% | 1.75% | 1.84% | 1.53% | 2.33% | 3.15% | 2.61% |
CNHI CNH Industrial N.V. | 4.10% | 4.10% | 3.14% | 1.88% | 0.68% | 1.40% | 1.59% | 1.61% | 0.77% | 1.47% | 3.14% | 3.42% |
AGCO AGCO Corporation | 3.77% | 3.92% | 5.03% | 3.91% | 4.10% | 0.62% | 0.82% | 1.08% | 0.78% | 0.90% | 1.06% | 0.97% |
CTVA Corteva, Inc. | 1.06% | 1.16% | 1.29% | 0.99% | 1.14% | 1.34% | 0.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NTR.TO | 2.85% | 3.36% | 2.84% | 2.61% | 2.55% | 2.94% | 2.83% | 2.54% | 0.00% | 0.00% | 0.00% | 0.00% |
BAS.DE BASF SE | 6.91% | 8.01% | 6.97% | 7.33% | 5.34% | 5.10% | 4.75% | 5.13% | 3.27% | 3.28% | 3.96% | 3.86% |
CF CF Industries Holdings, Inc. | 2.47% | 2.34% | 2.01% | 1.76% | 1.70% | 3.10% | 2.51% | 2.76% | 2.82% | 3.81% | 2.94% | 1.83% |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Agriculture & Nutrition
Benchmark (^GSPC)
Portfolio components
Worst Drawdowns
The table below displays the maximum drawdowns of the Agriculture & Nutrition. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Agriculture & Nutrition was 34.28%, occurring on Mar 23, 2020. Recovery took 109 trading sessions.
The current Agriculture & Nutrition drawdown is 2.87%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -34.28% | Feb 6, 2020 | 33 | Mar 23, 2020 | 109 | Aug 24, 2020 | 142 |
| -17.64% | Feb 2, 2023 | 191 | Oct 27, 2023 | 231 | Sep 19, 2024 | 422 |
| -16.12% | Apr 21, 2022 | 117 | Sep 30, 2022 | 45 | Dec 2, 2022 | 162 |
| -8.34% | Oct 1, 2024 | 72 | Jan 10, 2025 | — | — | — |
| -8.23% | May 10, 2021 | 97 | Sep 21, 2021 | 69 | Dec 27, 2021 | 166 |
Volatility
Volatility Chart
The current Agriculture & Nutrition volatility is 2.47%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.
Agriculture & Nutrition
Benchmark (^GSPC)
Portfolio components
Diversification
Asset Correlations Table
The table below displays the correlation coefficients between the individual components of the portfolio, the entire portfolio, and the chosen benchmark.
| SAM | CF | NSRGY | BAS.DE | SJM | K | CHEF | HRL | ABT | NTR.TO | UL | CAG | TTEK | PG | OI | BG | PFGC | TSN | MNST | IFF | CTVA | CNHI | CCK | PEP | AGCO | DE | INGR | KO | ADM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SAM | 1.00 | 0.10 | 0.22 | 0.15 | 0.12 | 0.11 | 0.23 | 0.15 | 0.26 | 0.13 | 0.21 | 0.19 | 0.23 | 0.20 | 0.21 | 0.14 | 0.26 | 0.22 | 0.34 | 0.23 | 0.19 | 0.20 | 0.27 | 0.27 | 0.19 | 0.21 | 0.19 | 0.23 | 0.16 |
| CF | 0.10 | 1.00 | 0.08 | 0.26 | 0.11 | 0.09 | 0.26 | 0.07 | 0.09 | 0.65 | 0.08 | 0.12 | 0.26 | 0.04 | 0.35 | 0.46 | 0.28 | 0.26 | 0.16 | 0.26 | 0.52 | 0.37 | 0.30 | 0.10 | 0.41 | 0.44 | 0.33 | 0.19 | 0.50 |
| NSRGY | 0.22 | 0.08 | 1.00 | 0.18 | 0.30 | 0.29 | 0.14 | 0.31 | 0.40 | 0.14 | 0.50 | 0.30 | 0.23 | 0.40 | 0.14 | 0.17 | 0.22 | 0.23 | 0.34 | 0.30 | 0.20 | 0.22 | 0.26 | 0.44 | 0.18 | 0.19 | 0.25 | 0.40 | 0.20 |
| BAS.DE | 0.15 | 0.26 | 0.18 | 1.00 | 0.07 | 0.10 | 0.28 | 0.12 | 0.16 | 0.38 | 0.26 | 0.13 | 0.27 | 0.12 | 0.41 | 0.28 | 0.30 | 0.25 | 0.20 | 0.33 | 0.34 | 0.49 | 0.34 | 0.13 | 0.41 | 0.40 | 0.32 | 0.23 | 0.32 |
| SJM | 0.12 | 0.11 | 0.30 | 0.07 | 1.00 | 0.60 | 0.10 | 0.57 | 0.28 | 0.10 | 0.35 | 0.61 | 0.12 | 0.45 | 0.14 | 0.19 | 0.14 | 0.33 | 0.30 | 0.20 | 0.15 | 0.12 | 0.19 | 0.51 | 0.13 | 0.15 | 0.32 | 0.46 | 0.29 |
| K | 0.11 | 0.09 | 0.29 | 0.10 | 0.60 | 1.00 | 0.09 | 0.56 | 0.27 | 0.09 | 0.38 | 0.63 | 0.15 | 0.49 | 0.12 | 0.19 | 0.14 | 0.36 | 0.28 | 0.20 | 0.14 | 0.13 | 0.20 | 0.52 | 0.11 | 0.13 | 0.33 | 0.45 | 0.31 |
| CHEF | 0.23 | 0.26 | 0.14 | 0.28 | 0.10 | 0.09 | 1.00 | 0.10 | 0.18 | 0.30 | 0.20 | 0.17 | 0.35 | 0.12 | 0.36 | 0.29 | 0.60 | 0.28 | 0.29 | 0.32 | 0.33 | 0.34 | 0.31 | 0.17 | 0.36 | 0.34 | 0.36 | 0.28 | 0.33 |
| HRL | 0.15 | 0.07 | 0.31 | 0.12 | 0.57 | 0.56 | 0.10 | 1.00 | 0.27 | 0.11 | 0.35 | 0.53 | 0.17 | 0.45 | 0.15 | 0.19 | 0.14 | 0.40 | 0.33 | 0.19 | 0.17 | 0.10 | 0.24 | 0.52 | 0.14 | 0.15 | 0.32 | 0.44 | 0.29 |
| ABT | 0.26 | 0.09 | 0.40 | 0.16 | 0.28 | 0.27 | 0.18 | 0.27 | 1.00 | 0.14 | 0.38 | 0.28 | 0.32 | 0.45 | 0.19 | 0.19 | 0.25 | 0.23 | 0.40 | 0.34 | 0.24 | 0.25 | 0.36 | 0.45 | 0.22 | 0.26 | 0.27 | 0.43 | 0.25 |
| NTR.TO | 0.13 | 0.65 | 0.14 | 0.38 | 0.10 | 0.09 | 0.30 | 0.11 | 0.14 | 1.00 | 0.11 | 0.14 | 0.30 | 0.08 | 0.41 | 0.48 | 0.31 | 0.28 | 0.19 | 0.32 | 0.49 | 0.46 | 0.34 | 0.13 | 0.47 | 0.47 | 0.33 | 0.22 | 0.51 |
| UL | 0.21 | 0.08 | 0.50 | 0.26 | 0.35 | 0.38 | 0.20 | 0.35 | 0.38 | 0.11 | 1.00 | 0.36 | 0.30 | 0.54 | 0.21 | 0.15 | 0.27 | 0.30 | 0.37 | 0.29 | 0.19 | 0.22 | 0.33 | 0.49 | 0.20 | 0.22 | 0.30 | 0.48 | 0.23 |
| CAG | 0.19 | 0.12 | 0.30 | 0.13 | 0.61 | 0.63 | 0.17 | 0.53 | 0.28 | 0.14 | 0.36 | 1.00 | 0.17 | 0.45 | 0.20 | 0.21 | 0.21 | 0.38 | 0.30 | 0.25 | 0.18 | 0.19 | 0.25 | 0.51 | 0.19 | 0.17 | 0.39 | 0.45 | 0.32 |
| TTEK | 0.23 | 0.26 | 0.23 | 0.27 | 0.12 | 0.15 | 0.35 | 0.17 | 0.32 | 0.30 | 0.30 | 0.17 | 1.00 | 0.28 | 0.32 | 0.30 | 0.40 | 0.26 | 0.35 | 0.39 | 0.34 | 0.39 | 0.41 | 0.28 | 0.39 | 0.41 | 0.37 | 0.31 | 0.35 |
| PG | 0.20 | 0.04 | 0.40 | 0.12 | 0.45 | 0.49 | 0.12 | 0.45 | 0.45 | 0.08 | 0.54 | 0.45 | 0.28 | 1.00 | 0.17 | 0.16 | 0.21 | 0.32 | 0.43 | 0.29 | 0.19 | 0.18 | 0.30 | 0.67 | 0.16 | 0.20 | 0.30 | 0.62 | 0.28 |
| OI | 0.21 | 0.35 | 0.14 | 0.41 | 0.14 | 0.12 | 0.36 | 0.15 | 0.19 | 0.41 | 0.21 | 0.20 | 0.32 | 0.17 | 1.00 | 0.38 | 0.37 | 0.31 | 0.27 | 0.38 | 0.43 | 0.45 | 0.49 | 0.21 | 0.49 | 0.45 | 0.42 | 0.26 | 0.43 |
| BG | 0.14 | 0.46 | 0.17 | 0.28 | 0.19 | 0.19 | 0.29 | 0.19 | 0.19 | 0.48 | 0.15 | 0.21 | 0.30 | 0.16 | 0.38 | 1.00 | 0.33 | 0.35 | 0.22 | 0.29 | 0.44 | 0.41 | 0.33 | 0.22 | 0.47 | 0.48 | 0.45 | 0.29 | 0.72 |
| PFGC | 0.26 | 0.28 | 0.22 | 0.30 | 0.14 | 0.14 | 0.60 | 0.14 | 0.25 | 0.31 | 0.27 | 0.21 | 0.40 | 0.21 | 0.37 | 0.33 | 1.00 | 0.35 | 0.36 | 0.37 | 0.38 | 0.40 | 0.36 | 0.26 | 0.44 | 0.41 | 0.41 | 0.36 | 0.35 |
| TSN | 0.22 | 0.26 | 0.23 | 0.25 | 0.33 | 0.36 | 0.28 | 0.40 | 0.23 | 0.28 | 0.30 | 0.38 | 0.26 | 0.32 | 0.31 | 0.35 | 0.35 | 1.00 | 0.28 | 0.30 | 0.33 | 0.29 | 0.35 | 0.36 | 0.33 | 0.30 | 0.45 | 0.41 | 0.43 |
| MNST | 0.34 | 0.16 | 0.34 | 0.20 | 0.30 | 0.28 | 0.29 | 0.33 | 0.40 | 0.19 | 0.37 | 0.30 | 0.35 | 0.43 | 0.27 | 0.22 | 0.36 | 0.28 | 1.00 | 0.38 | 0.31 | 0.29 | 0.36 | 0.55 | 0.28 | 0.29 | 0.33 | 0.51 | 0.30 |
| IFF | 0.23 | 0.26 | 0.30 | 0.33 | 0.20 | 0.20 | 0.32 | 0.19 | 0.34 | 0.32 | 0.29 | 0.25 | 0.39 | 0.29 | 0.38 | 0.29 | 0.37 | 0.30 | 0.38 | 1.00 | 0.40 | 0.44 | 0.44 | 0.31 | 0.42 | 0.39 | 0.40 | 0.36 | 0.37 |
| CTVA | 0.19 | 0.52 | 0.20 | 0.34 | 0.15 | 0.14 | 0.33 | 0.17 | 0.24 | 0.49 | 0.19 | 0.18 | 0.34 | 0.19 | 0.43 | 0.44 | 0.38 | 0.33 | 0.31 | 0.40 | 1.00 | 0.43 | 0.41 | 0.24 | 0.50 | 0.52 | 0.40 | 0.32 | 0.51 |
| CNHI | 0.20 | 0.37 | 0.22 | 0.49 | 0.12 | 0.13 | 0.34 | 0.10 | 0.25 | 0.46 | 0.22 | 0.19 | 0.39 | 0.18 | 0.45 | 0.41 | 0.40 | 0.29 | 0.29 | 0.44 | 0.43 | 1.00 | 0.43 | 0.18 | 0.63 | 0.59 | 0.40 | 0.30 | 0.46 |
| CCK | 0.27 | 0.30 | 0.26 | 0.34 | 0.19 | 0.20 | 0.31 | 0.24 | 0.36 | 0.34 | 0.33 | 0.25 | 0.41 | 0.30 | 0.49 | 0.33 | 0.36 | 0.35 | 0.36 | 0.44 | 0.41 | 0.43 | 1.00 | 0.34 | 0.43 | 0.43 | 0.37 | 0.39 | 0.38 |
| PEP | 0.27 | 0.10 | 0.44 | 0.13 | 0.51 | 0.52 | 0.17 | 0.52 | 0.45 | 0.13 | 0.49 | 0.51 | 0.28 | 0.67 | 0.21 | 0.22 | 0.26 | 0.36 | 0.55 | 0.31 | 0.24 | 0.18 | 0.34 | 1.00 | 0.18 | 0.23 | 0.35 | 0.70 | 0.33 |
| AGCO | 0.19 | 0.41 | 0.18 | 0.41 | 0.13 | 0.11 | 0.36 | 0.14 | 0.22 | 0.47 | 0.20 | 0.19 | 0.39 | 0.16 | 0.49 | 0.47 | 0.44 | 0.33 | 0.28 | 0.42 | 0.50 | 0.63 | 0.43 | 0.18 | 1.00 | 0.78 | 0.42 | 0.28 | 0.54 |
| DE | 0.21 | 0.44 | 0.19 | 0.40 | 0.15 | 0.13 | 0.34 | 0.15 | 0.26 | 0.47 | 0.22 | 0.17 | 0.41 | 0.20 | 0.45 | 0.48 | 0.41 | 0.30 | 0.29 | 0.39 | 0.52 | 0.59 | 0.43 | 0.23 | 0.78 | 1.00 | 0.41 | 0.32 | 0.54 |
| INGR | 0.19 | 0.33 | 0.25 | 0.32 | 0.32 | 0.33 | 0.36 | 0.32 | 0.27 | 0.33 | 0.30 | 0.39 | 0.37 | 0.30 | 0.42 | 0.45 | 0.41 | 0.45 | 0.33 | 0.40 | 0.40 | 0.40 | 0.37 | 0.35 | 0.42 | 0.41 | 1.00 | 0.42 | 0.52 |
| KO | 0.23 | 0.19 | 0.40 | 0.23 | 0.46 | 0.45 | 0.28 | 0.44 | 0.43 | 0.22 | 0.48 | 0.45 | 0.31 | 0.62 | 0.26 | 0.29 | 0.36 | 0.41 | 0.51 | 0.36 | 0.32 | 0.30 | 0.39 | 0.70 | 0.28 | 0.32 | 0.42 | 1.00 | 0.39 |
| ADM | 0.16 | 0.50 | 0.20 | 0.32 | 0.29 | 0.31 | 0.33 | 0.29 | 0.25 | 0.51 | 0.23 | 0.32 | 0.35 | 0.28 | 0.43 | 0.72 | 0.35 | 0.43 | 0.30 | 0.37 | 0.51 | 0.46 | 0.38 | 0.33 | 0.54 | 0.54 | 0.52 | 0.39 | 1.00 |
The correlation results are calculated based on daily price changes starting from May 27, 2019