Eli Lilly Correlations

LLY Stock   28.58  0.32  1.13%   
The current 90-days correlation between Eli Lilly and Millbank Mining Corp is 0.2 (i.e., Modest 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

Weak diversification

The correlation between Eli Lilly and and DJI is 0.3 (i.e., Weak 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

  0.84RHC Royal HeliumPairCorr
  0.85VGZ Vista GoldPairCorr
  0.86TGO TeraGo IncPairCorr
  0.62AUUA Aluula CompositesPairCorr

Moving against Eli Stock

  0.86LMN Lumine GroupPairCorr
  0.84MXG Maxim Power CorpPairCorr
  0.77TSLA Tesla Inc CDRPairCorr
  0.77PRL Propel HoldingsPairCorr
  0.67IMP Intermap TechnologiesPairCorr
  0.67TFII TFI InternationalPairCorr
  0.58HITI High TidePairCorr
  0.48MIN Excelsior Mining CorpPairCorr
  0.37TOU Tourmaline Oil CorpPairCorr
  0.9ARE Aecon GroupPairCorr
  0.82FFN North American FinancialPairCorr
  0.8MFC Manulife Financial CorpPairCorr
  0.77DR Medical FacilitiesPairCorr
  0.62WELL WELL Health TechnologiesPairCorr
  0.62STN StantecPairCorr
  0.6AIDX HealWELL AIPairCorr
  0.52ZOMD Zoomd TechnologiesPairCorr
  0.43DNG Dynacor Gold MinesPairCorr
  0.42MTY MTY Food GroupPairCorr
  0.37OGC OceanaGoldPairCorr
  0.35QNC Quantum NumbersPairCorr
  0.35PGDC Patagonia Gold CorpPairCorr
  0.31CGX CineplexPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
FTN-PASPRX
FFH-PKSPRX
FTN-PAFFH-PK
EAGRXTRA
CGYMILL
XTRACGY
  
High negative correlations   
FFH-PKEAGR
EAGRSPRX
FTN-PAEAGR
SPRXXTRA
FFH-PKXTRA
FTN-PAXTRA

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.

Did you try this?

Run Idea Breakdown Now

   

Idea Breakdown

Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes
All  Next Launch Module

Eli Lilly Corporate Management

Elected by the shareholders, the Eli Lilly's board of directors comprises two types of representatives: Eli Lilly inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Eli. The board's role is to monitor Eli Lilly's management team and ensure that shareholders' interests are well served. Eli Lilly's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Eli Lilly's outside directors are responsible for providing unbiased perspectives on the board's policies.
Ilya YuffaEVP InternationalProfile
Alonzo WeemsEVP OfficerProfile
Gordon BrooksController VPProfile
Anat JDGeneral VPProfile
Jacob NaardenExecutive LoxoProfile
Eric DozierExecutive DiversityProfile