Pfizer Correlations

PFE Stock

25.22 0.37 1.49%

The current 90-days correlation between Pfizer Inc and Haverty Furniture Companies is 0.09 (i.e., Significant diversification). The correlation of Pfizer 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.

Pfizer Correlation With Market

Significant diversification

The correlation between Pfizer Inc and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pfizer Inc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Pfizer could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pfizer 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 Pfizer - 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 Pfizer Inc to buy it.

Moving together with Pfizer Stock

0.84	LLY	Eli Lilly	Pair Corr
0.82	ZEG	AstraZeneca PLC	Pair Corr
0.67	AMG	Amgen Inc	Pair Corr
0.75	BAYN	Bayer AG NA	Pair Corr
0.81	IDP	Biogen Inc	Pair Corr
0.7	MTO	METTLER TOLEDO INTL	Pair Corr
0.69	MTO	METTLER TOLEDO INTL	Pair Corr
0.67	MTO	Mitie Group PLC	Pair Corr
0.65	27J	Impinj Inc	Pair Corr
0.65	27J	Impinj Inc	Pair Corr

Moving against Pfizer Stock

0.82	ADH2	Air Canada	Pair Corr
0.65	GIS	General Mills	Pair Corr
0.54	1DH	Clarkson PLC	Pair Corr
0.48	3EJ	LODESTAR MIN Split	Pair Corr
0.78	G8L	GREENLIGHT CAP RE	Pair Corr
0.77	WD1	WD 40 CO	Pair Corr
0.76	BKJ	Brinker International	Pair Corr
0.74	74F	LIFE BANC SPLIT	Pair Corr
0.73	ATR0	ATHENE HOLDING PRFSERC	Pair Corr
0.71	TL0	Tesla Inc	Pair Corr
0.64	MNL	Gruppo Mutuionline SpA	Pair Corr
0.59	MKL	Atea ASA	Pair Corr
0.45	TC7	TIANDE CHEMICAL	Pair Corr
0.33	117	Arista Networks Split	Pair Corr
0.82	EMR	EMERSON ELECTRIC	Pair Corr
0.8	51KB	AVITA Medical	Pair Corr
0.78	NDA	Aurubis AG	Pair Corr
0.78	HU3	Huntington Bancshares	Pair Corr

Related Correlations Analysis

	25F	SI3	6BC0	BXU	1QK	DF0	1G3	DNN
25F		-0.58	0.0	0.38	-0.13	-0.45	-0.38	0.25	25F
SI3	-0.58		0.0	0.18	-0.3	0.72	0.61	-0.6	SI3
6BC0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	6BC0
BXU	0.38	0.18	0.0		-0.49	0.06	-0.05	-0.26	BXU
1QK	-0.13	-0.3	0.0	-0.49		0.06	0.12	0.27	1QK
DF0	-0.45	0.72	0.0	0.06	0.06		0.72	-0.41	DF0
1G3	-0.38	0.61	0.0	-0.05	0.12	0.72		-0.21	1G3
DNN	0.25	-0.6	0.0	-0.26	0.27	-0.41	-0.21		DNN
	25F	SI3	6BC0	BXU	1QK	DF0	1G3	DNN

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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

DF0	+ 0.72	SI3
1G3	+ 0.72	DF0
1G3	+ 0.61	SI3
BXU	+ 0.38	25F
DNN	+ 0.27	1QK
DNN	+ 0.25	25F

High negative correlations

DNN	- 0.6	SI3
SI3	- 0.58	25F
1QK	- 0.49	BXU
DF0	- 0.45	25F
DNN	- 0.41	DF0
1G3	- 0.38	25F

Risk-Adjusted Indicators

There is a big difference between Pfizer Stock performing well and Pfizer 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 Pfizer'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
25F	1.78	(0.23)	0.00	(0.29)	0.00	0.00	3.77	(3.48)	14.32
SI3	0.88	0.36	0.12	1.84	0.70	(1.69)	2.50	(1.43)	10.36
6BC0	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BXU	1.28	0.03	0.01	0.10	1.58	(2.69)	2.56	(2.50)	9.64
1QK	1.29	0.03	0.01	0.17	1.44	(1.75)	3.46	(2.96)	9.05
DF0	1.23	0.28	0.10	9.67	1.51	(1.69)	3.16	(3.07)	13.59
1G3	1.43	0.15	0.06	(2.07)	1.71	(1.50)	3.56	(2.39)	12.42
DNN	1.85	0.08	0.01	0.42	2.79	(10.27)	7.69	(7.14)	35.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pfizer 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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Pfizer Corporate Management

Elected by the shareholders, the Pfizer's board of directors comprises two types of representatives: Pfizer inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Pfizer. The board's role is to monitor Pfizer's management team and ensure that shareholders' interests are well served. Pfizer'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, Pfizer's outside directors are responsible for providing unbiased perspectives on the board's policies.

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