Omnicom Correlations

OMC Stock

USD 80.69 0.80 0.98%

The current 90-days correlation between Omnicom Group and WPP PLC ADR is 0.38 (i.e., Weak diversification). The correlation of Omnicom 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.

Omnicom Correlation With Market

Weak diversification

The correlation between Omnicom Group and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Omnicom Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Omnicom Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Omnicom Stock

0.61	WLYB	John Wiley Sons	Pair Corr
0.66	CCO	Clear Channel Outdoor	Pair Corr
0.69	EEX	Emerald Expositions	Pair Corr
0.66	GCI	Gannett	Pair Corr
0.96	IPG	Interpublic Group	Pair Corr
0.81	LEE	Lee Enterprises Upward Rally	Pair Corr
0.88	NYT	New York Times	Pair Corr
0.76	TSQ	Townsquare Media	Pair Corr
0.72	WPP	WPP PLC ADR	Pair Corr
0.68	NCTY	The9 Ltd ADR	Pair Corr

Moving against Omnicom Stock

0.65	FOXA	Fox Corp Class	Pair Corr
0.56	SE	Sea	Pair Corr
0.52	PSO	Pearson PLC ADR	Pair Corr
0.43	WMG	Warner Music Group	Pair Corr
0.67	SY	So Young International	Pair Corr
0.63	T	ATT Inc Earnings Call This Week	Pair Corr
0.53	CURIW	CuriosityStream	Pair Corr
0.46	KT	KT Corporation	Pair Corr
0.41	BRAG	Bragg Gaming Group Earnings Call This Week	Pair Corr
0.37	ANTE	Airnet Technology	Pair Corr
0.32	TOON	Kartoon Studios,	Pair Corr
0.31	IQ	iQIYI Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	IAS	DLX	CRTO	WPP	TSQ	CMPR	TZOO	CTV	EEX	ZD
IAS		0.35	0.72	0.65	0.57	0.3	0.55	-0.28	0.27	0.53	IAS
DLX	0.35		0.24	0.68	0.84	0.96	0.72	-0.44	0.9	0.9	DLX
CRTO	0.72	0.24		0.72	0.63	0.21	0.65	-0.41	0.35	0.57	CRTO
WPP	0.65	0.68	0.72		0.89	0.69	0.65	-0.68	0.7	0.85	WPP
TSQ	0.57	0.84	0.63	0.89		0.84	0.78	-0.6	0.86	0.93	TSQ
CMPR	0.3	0.96	0.21	0.69	0.84		0.66	-0.55	0.9	0.88	CMPR
TZOO	0.55	0.72	0.65	0.65	0.78	0.66		-0.27	0.73	0.86	TZOO
CTV	-0.28	-0.44	-0.41	-0.68	-0.6	-0.55	-0.27		-0.46	-0.5	CTV
EEX	0.27	0.9	0.35	0.7	0.86	0.9	0.73	-0.46		0.9	EEX
ZD	0.53	0.9	0.57	0.85	0.93	0.88	0.86	-0.5	0.9		ZD
	IAS	DLX	CRTO	WPP	TSQ	CMPR	TZOO	CTV	EEX	ZD

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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

CMPR	+ 0.96	DLX
ZD	+ 0.93	TSQ
EEX	+ 0.9	DLX
ZD	+ 0.9	DLX
EEX	+ 0.9	CMPR
ZD	+ 0.9	EEX

High negative correlations

CTV	- 0.68	WPP
CTV	- 0.6	TSQ
CTV	- 0.55	CMPR
ZD	- 0.5	CTV
EEX	- 0.46	CTV
CTV	- 0.44	DLX

Risk-Adjusted Indicators

There is a big difference between Omnicom Stock performing well and Omnicom 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 Omnicom'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
IAS	1.46	(0.31)	0.00	0.55	0.00	0.00	1.95	(3.51)	14.44
DLX	1.68	(0.45)	0.00	(0.46)	0.00	0.00	2.40	(3.95)	14.33
CRTO	1.76	(0.14)	0.00	(0.17)	0.00	0.00	2.96	(3.55)	22.21
WPP	1.33	(0.43)	0.00	(0.67)	0.00	0.00	2.13	(2.71)	18.63
TSQ	1.55	(0.21)	0.00	(0.25)	0.00	0.00	4.49	(3.27)	9.99
CMPR	2.15	(0.81)	0.00	(0.95)	0.00	0.00	4.08	(5.34)	11.06
TZOO	3.76	(0.29)	0.00	(0.29)	0.00	0.00	6.69	(8.25)	25.28
CTV	2.71	0.91	0.38	(0.94)	1.18	(4.89)	1.33	(4.81)	88.33
EEX	1.40	(0.06)	0.00	(0.13)	0.00	0.00	2.02	(3.12)	12.52
ZD	1.82	(0.42)	0.00	(0.42)	0.00	0.00	2.75	(3.91)	12.25

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