Cencora Correlations

COR Stock

USD 260.96 2.89 1.12%

The current 90-days correlation between Cencora and Keurig Dr Pepper is 0.24 (i.e., Modest diversification). The correlation of Cencora 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.

Cencora Correlation With Market

Modest diversification

The correlation between Cencora and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cencora 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 Cencora. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Cencora Stock, please use our How to Invest in Cencora guide.

Moving together with Cencora Stock

0.77	CI	Cigna Corp	Pair Corr
0.76	GH	Guardant Health	Pair Corr
0.83	LH	Laboratory	Pair Corr
0.63	EHAB	Enhabit	Pair Corr
0.82	ABT	Abbott Laboratories	Pair Corr
0.89	AGL	agilon health	Pair Corr
0.8	ALC	Alcon AG	Pair Corr
0.83	BAX	Baxter International	Pair Corr

Moving against Cencora Stock

0.83	OM	Outset Medical	Pair Corr
0.76	ELAB	Elevai Labs, Common	Pair Corr
0.72	EMBC	Embecta Corp	Pair Corr
0.69	EUDA	EUDA Health Holdings	Pair Corr
0.66	FIGS	Figs Inc	Pair Corr
0.65	EKSO	Ekso Bionics Holdings	Pair Corr
0.65	FLGT	Fulgent Genetics	Pair Corr
0.64	VREX	Varex Imaging Corp	Pair Corr
0.62	EW	Edwards Lifesciences Corp	Pair Corr
0.62	WORX	Scworx Corp	Pair Corr
0.59	VVOS	Vivos Therapeutics	Pair Corr
0.57	ESTA	Establishment Labs	Pair Corr
0.44	VERO	Venus Concept	Pair Corr
0.4	DRIO	DarioHealth Corp	Pair Corr
0.38	VNRX	Volitionrx Earnings Call This Week	Pair Corr
0.37	ENOV	Enovis Corp	Pair Corr
0.86	AWH	Aspira Womens Health	Pair Corr
0.74	EVH	Evolent Health	Pair Corr
0.65	AMS	American Shared Hospital Earnings Call This Week	Pair Corr
0.62	ENZ	Enzo Biochem	Pair Corr
0.59	XAIR	Beyond Air	Pair Corr
0.59	FOXO	FOXO Technologies	Pair Corr
0.48	DHR	Danaher	Pair Corr
0.31	BVS	Bioventus	Pair Corr

Related Correlations Analysis

	NIPMY	BRID	ANDE	KDP	VITL	MRRTY	MNST	ASTVF
NIPMY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	NIPMY
BRID	0.0		-0.4	-0.24	0.22	-0.03	0.04	-0.28	BRID
ANDE	0.0	-0.4		0.38	0.01	0.31	0.2	-0.05	ANDE
KDP	0.0	-0.24	0.38		-0.65	-0.01	0.69	0.33	KDP
VITL	0.0	0.22	0.01	-0.65		0.18	-0.62	-0.47	VITL
MRRTY	0.0	-0.03	0.31	-0.01	0.18		0.01	-0.41	MRRTY
MNST	0.0	0.04	0.2	0.69	-0.62	0.01		-0.07	MNST
ASTVF	0.0	-0.28	-0.05	0.33	-0.47	-0.41	-0.07		ASTVF
	NIPMY	BRID	ANDE	KDP	VITL	MRRTY	MNST	ASTVF

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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

MNST	+ 0.69	KDP
KDP	+ 0.38	ANDE
ASTVF	+ 0.33	KDP
MRRTY	+ 0.31	ANDE
VITL	+ 0.22	BRID
MNST	+ 0.2	ANDE

High negative correlations

VITL	- 0.65	KDP
MNST	- 0.62	VITL
ASTVF	- 0.47	VITL
ASTVF	- 0.41	MRRTY
ANDE	- 0.4	BRID
ASTVF	- 0.28	BRID

Risk-Adjusted Indicators

There is a big difference between Cencora Stock performing well and Cencora 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 Cencora'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
NIPMY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRID	1.31	0.10	0.11	0.91	1.51	(1.49)	2.98	(2.52)	10.57
ANDE	1.72	(0.02)	0.00	(0.14)	0.00	0.00	2.96	(3.26)	20.70
KDP	1.12	0.06	0.12	0.45	1.31	(1.25)	2.40	(2.38)	6.58
VITL	2.86	0.00	0.00	(0.11)	0.00	0.00	5.53	(7.36)	17.19
MRRTY	3.05	(0.03)	0.00	(0.13)	0.00	0.00	7.74	(7.18)	27.81
MNST	1.10	0.10	0.15	0.38	1.20	(1.22)	2.80	(1.87)	6.76
ASTVF	0.29	0.02	0.00	0.07	0.00	0.00	0.00	0.00	16.81

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