Merck Correlations

Stocks . USA . 
Stock . Merck Company
MRK Stock  USD 91.43  0.16  0.18%   
The current 90-days correlation between Merck Company and AbbVie Inc is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Merck moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Merck Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Merck Correlation With Market

Significant diversification

The correlation between Merck Company and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Merck Company 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 Merck Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Merck Stock

  0.71EXAS EXACT SciencesPairCorr
  0.9ILMN IlluminaPairCorr
  0.62INZY Inozyme PharmaPairCorr
  0.62ABOS Acumen PharmaceuticalsPairCorr
  0.67TERN Terns PharmaceuticalsPairCorr

Moving against Merck Stock

  0.72OPT Opthea Earnings Call TomorrowPairCorr
  0.66VERV Verve TherapeuticsPairCorr
  0.66GANX Gain TherapeuticsPairCorr
  0.64LTRN Lantern PharmaPairCorr
  0.41CUE Cue BiopharmaPairCorr
  0.36FENC Fennec PharmaceuticalsPairCorr
  0.69PHGE Biomx IncPairCorr
  0.51BEAM Beam TherapeuticsPairCorr
  0.42CPRX Catalyst Pharmaceuticals Earnings Call TomorrowPairCorr
  0.36DBVT DBV Technologies Earnings Call Next WeekPairCorr

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   
JNJ
+ 0.92
AMGN
GILD
+ 0.88
ABBV
LLY
+ 0.87
ABBV
GILD
+ 0.79
LLY
AMGN
+ 0.69
ABBV
JNJ
+ 0.69
ABBV
  
High negative correlations   
GILD
- 0.17
BMY
JNJ
- 0.09
PFE
BMY
- 0.08
ABBV
AMGN
- 0.06
PFE
BMY
- 0.03
LLY

Risk-Adjusted Indicators

There is a big difference between Merck Stock performing well and Merck 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 Merck'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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