Eli Lilly Correlations

Stocks . Germany . 
Stock . Eli Lilly and
LLY Stock  EUR 764.90  37.20  5.11%   
The current 90-days correlation between Eli Lilly and Singapore Telecommunications Limited is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eli Lilly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eli Lilly and moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eli Lilly Correlation With Market

Modest diversification

The correlation between Eli Lilly and and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eli Lilly and and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Eli Lilly could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eli Lilly 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 Eli Lilly - 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 Eli Lilly and to buy it.

Moving together with Eli Stock

  0.63EII EisaiPairCorr

Moving against Eli Stock

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  0.38APC Apple IncPairCorr
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  0.37APC Apple IncPairCorr
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Related Correlations Analysis

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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   
5ZM
+ 0.73
HBO
HBO
+ 0.68
BW8
BW8
+ 0.57
B7O
5ZM
+ 0.54
BW8
HBO
+ 0.43
B7O
5ZM
+ 0.41
B7O
  
High negative correlations   
COA1
- 0.59
5ZM
COA1
- 0.35
HBO
5ZM
- 0.23
SIT4
SIT4
- 0.23
B7O
COA1
- 0.19
B7O
COA1
- 0.18
BW8

Risk-Adjusted Indicators

There is a big difference between Eli Stock performing well and Eli Lilly 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 Eli Lilly'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.

Be your own money manager

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