Abbott Laboratories Correlations

Stocks . USA . 
Stock . Abbott Laboratories
ABT Stock  USD 135.82  0.87  0.64%   
The current 90-days correlation between Abbott Laboratories and AbbVie Inc is 0.37 (i.e., Weak diversification). The correlation of Abbott Laboratories 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.

Abbott Laboratories Correlation With Market

Modest diversification

The correlation between Abbott Laboratories and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abbott Laboratories and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Abbott Laboratories. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.
For more information on how to buy Abbott Stock please use our How to Invest in Abbott Laboratories guide.

Moving together with Abbott Stock

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  0.68PHGE Biomx IncPairCorr

Moving against Abbott Stock

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  0.58ADUS Addus HomeCarePairCorr
  0.56EXAS EXACT SciencesPairCorr
  0.52EMBC Embecta CorpPairCorr
  0.52WST West PharmaceuticalPairCorr
  0.42TFX Teleflex IncorporatedPairCorr
  0.8ILMN IlluminaPairCorr
  0.76INZY Inozyme PharmaPairCorr
  0.63ABOS Acumen PharmaceuticalsPairCorr
  0.62NAMSW NewAmsterdam PharmaPairCorr
  0.61ADTX Aditxt IncPairCorr
  0.38HLVX HillevaxPairCorr

Related Correlations Analysis

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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   
LLY
+ 0.87
ABBV
JNJ
+ 0.69
ABBV
MDT
+ 0.67
JNJ
JNJ
+ 0.61
LLY
MDT
+ 0.5
ABBV
MDT
+ 0.49
LLY
  
High negative correlations   
BMY
- 0.08
ABBV
BMY
- 0.03
LLY

Risk-Adjusted Indicators

There is a big difference between Abbott Stock performing well and Abbott Laboratories 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 Abbott Laboratories' 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.

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