CSL Correlations

CMXHF Stock

USD 155.00 0.79 0.51%

The current 90-days correlation between CSL Limited and CSL is -0.2 (i.e., Good diversification). The correlation of CSL 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.

CSL Correlation With Market

Very good diversification

The correlation between CSL Limited and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CSL Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CSL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CSL when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back CSL - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling CSL Limited to buy it.

Moving together with CSL Pink Sheet

0.68	CSLLY	CSL	Pair Corr
0.66	PPERY	Bank Mandiri Persero	Pair Corr
0.64	PPERF	Bank Mandiri Persero	Pair Corr

Moving against CSL Pink Sheet

0.71	CWCO	Consolidated Water Earnings Call This Week	Pair Corr
0.64	KO	Coca Cola	Pair Corr
0.59	NVRO	Nevro Corp	Pair Corr
0.52	VRTX	Vertex Pharmaceuticals	Pair Corr
0.44	SSNLF	Samsung Electronics	Pair Corr
0.57	MMM	3M Company	Pair Corr
0.57	VZ	Verizon Communications	Pair Corr
0.54	GE	GE Aerospace	Pair Corr
0.51	CVX	Chevron Corp	Pair Corr
0.51	CSCO	Cisco Systems	Pair Corr
0.45	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.43	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	PMVP	NONOF	KALV	PROK	VTYX	BNOEF	CSLLY	ENZN	LEGN	ZLAB
PMVP		0.59	-0.7	0.83	0.8	0.0	0.81	0.0	-0.28	-0.7	PMVP
NONOF	0.59		-0.27	0.39	0.47	0.0	0.47	0.0	-0.21	-0.24	NONOF
KALV	-0.7	-0.27		-0.86	-0.8	0.0	-0.83	0.0	0.51	0.96	KALV
PROK	0.83	0.39	-0.86		0.85	0.0	0.83	0.0	-0.27	-0.88	PROK
VTYX	0.8	0.47	-0.8	0.85		0.0	0.91	0.0	-0.42	-0.82	VTYX
BNOEF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	BNOEF
CSLLY	0.81	0.47	-0.83	0.83	0.91	0.0		0.0	-0.53	-0.82	CSLLY
ENZN	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ENZN
LEGN	-0.28	-0.21	0.51	-0.27	-0.42	0.0	-0.53	0.0		0.48	LEGN
ZLAB	-0.7	-0.24	0.96	-0.88	-0.82	0.0	-0.82	0.0	0.48		ZLAB
	PMVP	NONOF	KALV	PROK	VTYX	BNOEF	CSLLY	ENZN	LEGN	ZLAB

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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

ZLAB	+ 0.96	KALV
CSLLY	+ 0.91	VTYX
VTYX	+ 0.85	PROK
PROK	+ 0.83	PMVP
CSLLY	+ 0.83	PROK
CSLLY	+ 0.81	PMVP

High negative correlations

ZLAB	- 0.88	PROK
PROK	- 0.86	KALV
CSLLY	- 0.83	KALV
ZLAB	- 0.82	CSLLY
ZLAB	- 0.82	VTYX
VTYX	- 0.8	KALV

Risk-Adjusted Indicators

There is a big difference between CSL Pink Sheet performing well and CSL 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 CSL'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PMVP	1.81	(0.21)	0.00	(0.27)	0.00	0.00	4.41	(3.31)	16.42
NONOF	2.63	(0.42)	0.00	(0.73)	0.00	0.00	4.87	(6.05)	19.79
KALV	2.63	0.57	0.18	0.37	2.81	(2.88)	5.75	(4.65)	15.24
PROK	3.95	(0.84)	0.00	(0.52)	0.00	0.00	7.14	(9.29)	22.88
VTYX	3.49	(0.78)	0.00	(0.55)	0.00	0.00	6.88	(7.56)	27.07
BNOEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CSLLY	1.04	(0.12)	0.00	(0.26)	0.00	0.00	1.59	(2.73)	6.54
ENZN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LEGN	2.38	0.12	0.07	(1.02)	2.74	(2.59)	6.15	(4.66)	14.84
ZLAB	2.28	0.55	0.20	5.01	2.54	(2.43)	5.70	(4.75)	17.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in CSL without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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CSL Corporate Management

Karen Etchberger	Executive VP of Quality and Bus. Services	Profile
Paul McKenzie	Chief Officer	Profile
BCom BComm	Chief Officer	Profile
Wilfried Freudenberg	Department Production	Profile
Christina Hickie	Sr Communications	Profile
BS BS	Exec Counsel	Profile
MS BA	Ex Officer	Profile

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