Eli Lilly Correlations

Stocks . USA . 
Stock . Eli Lilly and
LLY Stock  USD 901.80  20.40  2.31%   
The current 90-days correlation between Eli Lilly and Johnson Johnson is 0.17 (i.e., Average diversification). The correlation of Eli Lilly 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Eli Lilly Correlation With Market

Significant diversification

The correlation between Eli Lilly and and DJI is 0.08 (i.e., Significant 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.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Eli Lilly and. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Eli Stock

  0.81VERV Verve TherapeuticsPairCorr
  0.75FENC Fennec PharmaceuticalsPairCorr
  0.72OPT Opthea Earnings Call TomorrowPairCorr
  0.66LTRN Lantern PharmaPairCorr
  0.64PHGE Biomx IncPairCorr
  0.65BEAM Beam TherapeuticsPairCorr

Moving against Eli Stock

  0.73ILMN IlluminaPairCorr
  0.63NAMSW NewAmsterdam PharmaPairCorr
  0.49INZY Inozyme PharmaPairCorr
  0.31KURA Kura OncologyPairCorr
  0.55ABOS Acumen PharmaceuticalsPairCorr
  0.49CRBU Caribou BiosciencesPairCorr
  0.45CRNX Crinetics Pharmaceuticals Earnings Call TomorrowPairCorr
  0.43ADTX Aditxt IncPairCorr
  0.41TCRX Tscan TherapeuticsPairCorr
  0.41TERN Terns PharmaceuticalsPairCorr

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   
AMGN
+ 0.92
JNJ
GILD
+ 0.88
ABBV
ABBV
+ 0.69
JNJ
AMGN
+ 0.69
ABBV
GILD
+ 0.65
JNJ
GILD
+ 0.63
AMGN
  
High negative correlations   
GILD
- 0.75
MRK
MRK
- 0.73
ABBV
AMGN
- 0.7
MRK
MRK
- 0.61
JNJ
GILD
- 0.17
BMY
PFE
- 0.09
JNJ

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.

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