Colgate Palmolive Correlations

Stocks . USA . 
Stock . Colgate Palmolive
CL Stock  USD 92.29  2.18  2.42%   
The current 90-days correlation between Colgate Palmolive and Unilever PLC ADR is 0.46 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Colgate Palmolive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Colgate Palmolive moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Colgate Palmolive Correlation With Market

Average diversification

The correlation between Colgate Palmolive and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Colgate Palmolive 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 Colgate Palmolive. 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 economic analysis.
For more information on how to buy Colgate Stock please use our How to buy in Colgate Stock guide.

Moving together with Colgate Stock

  0.77PG Procter GamblePairCorr
  0.68UL Unilever PLC ADRPairCorr
  0.81ACU Acme United Earnings Call This WeekPairCorr
  0.73CHD Church DwightPairCorr
  0.8CLX CloroxPairCorr
  0.84EPC Edgewell Personal CarePairCorr
  0.65FTLF FitLife Brands, CommonPairCorr
  0.67NUS Nu Skin EnterprisesPairCorr
  0.8SPB Spectrum Brands HoldingsPairCorr
  0.8YSG Yatsen HoldingPairCorr
  0.8KVUE Kenvue Inc Aggressive PushPairCorr
  0.61DG Dollar GeneralPairCorr

Moving against Colgate Stock

  0.74LFVN LifevantagePairCorr
  0.73UG United GuardianPairCorr
  0.62EWCZ European Wax CenterPairCorr
  0.62MTEX Mannatech IncorporatedPairCorr
  0.41HIMS Hims Hers HealthPairCorr
  0.39GROV Virgin Group Acquisition Earnings Call This WeekPairCorr
  0.74K Kellanova Earnings Call This WeekPairCorr
  0.66SKIN Beauty HealthPairCorr
  0.5VITL Vital Farms Earnings Call Next WeekPairCorr
  0.39DLTR Dollar Tree Earnings Call TomorrowPairCorr
  0.38KR Kroger CompanyPairCorr
  0.37BJ BJs Wholesale Club Earnings Call Next WeekPairCorr
  0.37EDBL Edible Garden AGPairCorr

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   
KMB
+ 0.81
PG
UL
+ 0.8
PG
CHD
+ 0.76
PG
KMB
+ 0.64
CHD
CHD
+ 0.54
UL
RBGLY
+ 0.52
KMB
  
High negative correlations   
RBGLY
- 0.37
EL
RBGLY
- 0.31
CLX
EL
- 0.24
KMB
EL
- 0.1
CHD
EL
- 0.08
PG

Risk-Adjusted Indicators

There is a big difference between Colgate Stock performing well and Colgate Palmolive 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 Colgate Palmolive'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.

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