Johnson Johnson Correlations

JNJ Stock

USD 163.63 0.61 0.37%

The current 90-days correlation between Johnson Johnson and Merck Company is 0.38 (i.e., Weak 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

Significant diversification

The correlation between Johnson Johnson and DJI is 0.04 (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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Johnson Johnson. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Johnson Stock please use our How to buy in Johnson Stock guide.

Moving together with Johnson Stock

0.82	CMRX	Chimerix	Pair Corr
0.9	CPIX	Cumberland Pharmaceuticals Downward Rally	Pair Corr
0.85	FNA	Paragon 28	Pair Corr
0.83	INMD	InMode	Pair Corr

Moving against Johnson Stock

0.94	ANNX	Annexon Earnings Call This Week	Pair Corr
0.94	BLUE	Bluebird bio Earnings Call This Week	Pair Corr
0.93	TLRY	Tilray Inc	Pair Corr
0.92	CGC	Canopy Growth Corp	Pair Corr
0.89	ASMB	Assembly Biosciences Earnings Call This Week	Pair Corr
0.89	CLDX	Celldex Therapeutics	Pair Corr
0.88	ISPC	iSpecimen	Pair Corr
0.87	MREO	Mereo BioPharma Group	Pair Corr
0.84	EYEN	Eyenovia	Pair Corr
0.75	SNDL	SNDL Inc	Pair Corr
0.73	ITOS	Iteos Therapeutics	Pair Corr
0.69	MOLN	Molecular Partners	Pair Corr
0.6	A	Agilent Technologies	Pair Corr
0.59	IPA	Immunoprecise Antibodies	Pair Corr
0.57	MRK	Merck Company	Pair Corr
0.55	LFCR	Lifecore Biomedical	Pair Corr
0.51	INBX	Inhibrx Symbol Change	Pair Corr
0.47	DSGN	Design Therapeutics	Pair Corr
0.39	AKTX	Akari Therapeutics PLC	Pair Corr
0.37	VOR	Vor Biopharma	Pair Corr
0.91	MODD	Modular Medical	Pair Corr
0.81	GKOS	Glaukos Corp	Pair Corr
0.79	APYX	Apyx Medical	Pair Corr
0.75	CRNX	Crinetics Pharmaceuticals	Pair Corr
0.74	LIVN	LivaNova PLC	Pair Corr
0.69	ITGR	Integer Holdings Corp	Pair Corr
0.69	MDAI	Spectral AI	Pair Corr
0.67	CRVS	Corvus Pharmaceuticals	Pair Corr
0.65	OTRK	Ontrak Inc	Pair Corr
0.58	ELMD	Electromed	Pair Corr
0.42	INGN	Inogen Inc	Pair Corr

Related Correlations Analysis

	MRK	BMY	AMGN	PFE	ABBV	LLY	GILD
MRK		0.01	-0.59	0.18	-0.54	-0.68	-0.5	MRK
BMY	0.01		0.6	0.35	0.57	0.3	0.58	BMY
AMGN	-0.59	0.6		0.15	0.94	0.78	0.94	AMGN
PFE	0.18	0.35	0.15		0.09	0.1	0.13	PFE
ABBV	-0.54	0.57	0.94	0.09		0.77	0.96	ABBV
LLY	-0.68	0.3	0.78	0.1	0.77		0.77	LLY
GILD	-0.5	0.58	0.94	0.13	0.96	0.77		GILD
	MRK	BMY	AMGN	PFE	ABBV	LLY	GILD

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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

GILD	+ 0.96	ABBV
ABBV	+ 0.94	AMGN
GILD	+ 0.94	AMGN
LLY	+ 0.78	AMGN
LLY	+ 0.77	ABBV
GILD	+ 0.77	LLY

High negative correlations

LLY	- 0.68	MRK
AMGN	- 0.59	MRK
ABBV	- 0.54	MRK
GILD	- 0.5	MRK

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
MRK	1.15	(0.08)	0.00	1.02	0.00	0.00	2.07	(1.80)	11.58
BMY	1.19	0.11	0.09	(4.59)	1.76	(1.07)	3.18	(2.80)	7.43
AMGN	1.06	0.26	0.20	0.46	1.26	(1.08)	2.22	(2.59)	9.76
PFE	1.03	0.08	0.12	0.52	1.13	(1.11)	2.20	(2.04)	7.11
ABBV	1.05	0.29	0.38	(1.27)	0.69	(1.26)	2.37	(1.47)	6.46
LLY	1.51	0.07	0.07	(0.37)	2.14	(1.56)	2.45	(4.21)	10.31
GILD	1.10	0.25	0.24	(2.28)	1.06	(1.20)	2.28	(2.23)	9.83

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