Johnson Johnson Correlations

JNJ Stock

EUR 141.20 1.38 0.99%

The current 90-days correlation between Johnson Johnson and Microsoft is -0.01 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Johnson Johnson moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Johnson Johnson moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Johnson Johnson Correlation With Market

Good diversification

The correlation between Johnson Johnson and DJI is -0.02 (i.e., Good 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

0.66	PQ9	PT Bank Mandiri	Pair Corr
0.74	PQ9	BANK MANDIRI	Pair Corr
0.72	PQ9	BANK MANDIRI	Pair Corr
0.68	PQ9	BANK MANDIRI	Pair Corr
0.65	BYRA	BANK RAKYAT IND	Pair Corr
0.7	BYRA	BANK RAKYAT IND	Pair Corr
0.63	BZG2	BANK CENTRAL ASIA	Pair Corr

Moving against Johnson Stock

0.73	AMZ	Amazon Inc	Pair Corr
0.66	MSF	Microsoft	Pair Corr
0.64	MSF	Microsoft	Pair Corr
0.63	MSF	Microsoft	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.62	APC	Apple Inc	Pair Corr
0.62	MSF	Microsoft	Pair Corr
0.61	APC	Apple Inc	Pair Corr
0.59	APC	Apple Inc	Pair Corr
0.57	MSF	Microsoft	Pair Corr
0.48	DBPE	Xtrackers LevDAX	Pair Corr
0.34	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	APC	APC	APC	APC	MSF	MSF	MSF	MSF
APC		0.74	0.74	0.72	0.72	0.75	0.75	0.75	APC
APC	0.74		1.0	0.99	0.89	0.9	0.91	0.91	APC
APC	0.74	1.0		0.99	0.89	0.89	0.9	0.9	APC
APC	0.72	0.99	0.99		0.88	0.89	0.9	0.89	APC
MSF	0.72	0.89	0.89	0.88		0.99	0.98	1.0	MSF
MSF	0.75	0.9	0.89	0.89	0.99		0.98	0.99	MSF
MSF	0.75	0.91	0.9	0.9	0.98	0.98		0.98	MSF
MSF	0.75	0.91	0.9	0.89	1.0	0.99	0.98		MSF
	APC	APC	APC	APC	MSF	MSF	MSF	MSF

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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
APC	0.94	0.22	0.14	2.26	1.18	(0.96)	2.22	(2.12)	6.45
APC	0.89	0.24	0.18	(3.65)	0.96	(0.97)	1.81	(1.75)	5.21
APC	0.85	0.26	0.19	(2.84)	1.05	(0.95)	1.67	(1.16)	6.46
APC	0.91	0.26	0.25	(1.03)	0.70	(1.09)	2.83	(1.69)	5.24
MSF	1.07	0.17	0.09	(1.60)	1.53	(1.25)	2.42	(1.93)	11.42
MSF	1.05	0.15	0.09	(0.68)	1.46	(1.15)	2.35	(1.92)	9.11
MSF	0.95	0.14	0.08	(1.44)	1.42	(1.03)	2.04	(1.84)	8.79
MSF	0.97	0.15	0.09	(1.51)	1.32	(1.13)	2.55	(1.61)	8.71

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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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