Johnson Johnson Correlations

JNJ Stock

EUR 143.70 2.84 2.02%

The current 90-days correlation between Johnson Johnson and Q2M Managementberatung AG is 0.13 (i.e., Average diversification). The correlation of Johnson Johnson 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.

Johnson Johnson Correlation With Market

Significant diversification

The correlation between Johnson Johnson and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Johnson and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Johnson Johnson could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Johnson Johnson 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 Johnson Johnson - 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 Johnson Johnson to buy it.

Moving together with Johnson Stock

0.7	SSUN	Samsung Electronics	Pair Corr
0.7	SSUN	Samsung Electronics	Pair Corr
0.68	BYRA	BANK RAKYAT IND	Pair Corr
0.65	BYRA	PT Bank Rakyat	Pair Corr
0.75	BYRA	BANK RAKYAT IND	Pair Corr
0.66	PQ9	PT Bank Mandiri	Pair Corr
0.79	PQ9	BANK MANDIRI	Pair Corr
0.61	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against Johnson Stock

0.79	AMZ	Amazon Inc	Pair Corr
0.71	APC	Apple Inc	Pair Corr
0.71	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.69	APC	Apple Inc	Pair Corr
0.68	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.65	MSF	Microsoft	Pair Corr
0.63	DBPE	Xtrackers LevDAX	Pair Corr
0.51	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	QBI	AF4	WSV2	GI4	D1LN	TG9	0QN
QBI		-0.18	-0.57	-0.34	-0.64	0.57	-0.63	QBI
AF4	-0.18		-0.24	0.21	0.37	-0.04	0.68	AF4
WSV2	-0.57	-0.24		0.43	0.48	-0.3	0.26	WSV2
GI4	-0.34	0.21	0.43		0.69	-0.59	0.58	GI4
D1LN	-0.64	0.37	0.48	0.69		-0.57	0.76	D1LN
TG9	0.57	-0.04	-0.3	-0.59	-0.57		-0.5	TG9
0QN	-0.63	0.68	0.26	0.58	0.76	-0.5		0QN
	QBI	AF4	WSV2	GI4	D1LN	TG9	0QN

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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

0QN	+ 0.76	D1LN
D1LN	+ 0.69	GI4
0QN	+ 0.68	AF4
0QN	+ 0.58	GI4
TG9	+ 0.57	QBI
D1LN	+ 0.48	WSV2

High negative correlations

D1LN	- 0.64	QBI
0QN	- 0.63	QBI
TG9	- 0.59	GI4
TG9	- 0.57	D1LN
WSV2	- 0.57	QBI
0QN	- 0.5	TG9

Risk-Adjusted Indicators

There is a big difference between Johnson Stock performing well and Johnson Johnson 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 Johnson Johnson'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
QBI	0.30	(0.17)	0.00	(1.42)	0.00	0.00	0.00	(2.00)	4.26
AF4	1.16	0.21	0.13	2.87	1.03	(1.70)	2.82	(2.18)	7.25
WSV2	0.82	0.07	0.06	(9.86)	0.83	(0.93)	1.53	(1.37)	3.97
GI4	1.80	0.12	0.05	(0.88)	1.65	(2.83)	4.79	(3.11)	13.86
D1LN	2.23	0.62	0.30	(10.37)	1.46	(3.82)	4.83	(2.78)	23.82
TG9	1.91	(0.09)	0.00	(1.77)	0.00	0.00	3.68	(4.09)	11.21
0QN	1.68	0.41	0.21	(3.02)	1.52	(2.02)	3.54	(3.29)	13.94

Be your own money manager

Our tools can tell you how much better you can do entering a position in Johnson Johnson 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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