Clorox Correlations

Stocks . USA . 
Stock . The Clorox
CLX Stock  USD 145.16  0.28  0.19%   
The current 90-days correlation between Clorox and Church Dwight is 0.51 (i.e., Very weak diversification). The correlation of Clorox 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.

Clorox Correlation With Market

Modest diversification

The correlation between The Clorox and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Clorox 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 The Clorox. 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.

Moving together with Clorox Stock

  0.77EL Estee Lauder CompaniesPairCorr
  0.81DSY Big Tree CloudPairCorr
  0.85ELF ELF BeautyPairCorr
  0.87ENR Energizer HoldingsPairCorr
  0.85EPC Edgewell Personal CarePairCorr
  0.75FTLF FitLife Brands, CommonPairCorr
  0.71MED MEDIFAST INCPairCorr
  0.78NWL Newell BrandsPairCorr
  0.87SPB Spectrum Brands HoldingsPairCorr
  0.8HELE Helen of TroyPairCorr
  0.74HNST Honest CompanyPairCorr
  0.63NAII Natural AlternativesPairCorr
  0.62NATR Natures Sunshine ProductsPairCorr
  0.74OLPX Olaplex HoldingsPairCorr

Moving against Clorox Stock

  0.74GROV Virgin Group AcquisitionPairCorr
  0.5KMB Kimberly ClarkPairCorr
  0.44ODC Oil DriPairCorr
  0.43UG United Guardian Earnings Call TomorrowPairCorr
  0.34CHD Church DwightPairCorr
  0.79NHTC Natural Health TrendPairCorr
  0.79K KellanovaPairCorr
  0.79BJ BJs Wholesale ClubPairCorr
  0.74PM Philip Morris InternPairCorr
  0.71KR Kroger CompanyPairCorr
  0.63KO Coca Cola Sell-off TrendPairCorr
  0.54MO Altria GroupPairCorr

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
CHD
KMB
+ 0.8
PG
RBGLY
+ 0.79
KMB
CHD
+ 0.77
PG
UL
+ 0.68
PG
PG
+ 0.67
CL
  
High negative correlations   
EL
- 0.42
RBGLY
EL
- 0.42
KMB
EL
- 0.18
PG
EL
- 0.15
CHD
EL
- 0.12
UL

Risk-Adjusted Indicators

There is a big difference between Clorox Stock performing well and Clorox 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 Clorox'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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