Koninklijke Philips Correlations

PHG Stock

USD 26.73 0.75 2.89%

The current 90-days correlation between Koninklijke Philips and Stryker is 0.21 (i.e., Modest diversification). The correlation of Koninklijke Philips 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.

Koninklijke Philips Correlation With Market

Modest diversification

The correlation between Koninklijke Philips NV and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Koninklijke Philips NV 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 Koninklijke Philips NV. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Koninklijke Stock

0.61	ELV	Elevance Health	Pair Corr
0.8	MMSI	Merit Medical Systems Earnings Call Today	Pair Corr
0.61	OPT	Opthea	Pair Corr

Moving against Koninklijke Stock

0.36	DHR	Danaher	Pair Corr
0.31	EMBC	Embecta Corp	Pair Corr
0.31	ADUS	Addus HomeCare	Pair Corr
0.31	DRMA	Dermata Therapeutics	Pair Corr
0.62	NAMSW	NewAmsterdam Pharma	Pair Corr
0.52	INZY	Inozyme Pharma	Pair Corr
0.34	ILMN	Illumina	Pair Corr
0.31	XFOR	X4 Pharmaceuticals	Pair Corr

Related Correlations Analysis

	ZIMV	SYK	BSX	STE	SNN	SNNUF	CNMD	NUVA	GKOS	ITGR
ZIMV		0.19	-0.32	0.0	0.0	0.03	0.69	0.0	0.15	0.49	ZIMV
SYK	0.19		0.58	0.9	0.62	0.15	0.06	0.0	0.01	0.6	SYK
BSX	-0.32	0.58		0.7	0.37	-0.33	-0.61	0.0	0.29	0.31	BSX
STE	0.0	0.9	0.7		0.66	0.18	-0.14	0.0	-0.11	0.45	STE
SNN	0.0	0.62	0.37	0.66		0.47	-0.08	0.0	-0.46	0.11	SNN
SNNUF	0.03	0.15	-0.33	0.18	0.47		0.25	0.0	-0.62	-0.13	SNNUF
CNMD	0.69	0.06	-0.61	-0.14	-0.08	0.25		0.0	-0.06	0.33	CNMD
NUVA	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NUVA
GKOS	0.15	0.01	0.29	-0.11	-0.46	-0.62	-0.06	0.0		0.46	GKOS
ITGR	0.49	0.6	0.31	0.45	0.11	-0.13	0.33	0.0	0.46		ITGR
	ZIMV	SYK	BSX	STE	SNN	SNNUF	CNMD	NUVA	GKOS	ITGR

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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

STE	+ 0.9	SYK
STE	+ 0.7	BSX
CNMD	+ 0.69	ZIMV
SNN	+ 0.66	STE
SNN	+ 0.62	SYK
ITGR	+ 0.6	SYK

High negative correlations

GKOS	- 0.62	SNNUF
CNMD	- 0.61	BSX
GKOS	- 0.46	SNN
SNNUF	- 0.33	BSX
BSX	- 0.32	ZIMV
CNMD	- 0.14	STE

Risk-Adjusted Indicators

There is a big difference between Koninklijke Stock performing well and Koninklijke Philips 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 Koninklijke Philips' 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
ZIMV	1.24	0.00	0.00	0.00	1.68	(1.21)	2.43	(3.14)	6.91
SYK	0.90	0.00	0.00	0.01	1.04	(1.01)	2.09	(1.70)	4.93
BSX	0.75	0.27	0.31	(1.69)	0.55	(0.91)	1.67	(1.12)	6.63
STE	0.83	0.04	0.04	0.10	0.92	(0.89)	2.09	(1.76)	5.46
SNN	1.00	0.14	0.12	0.33	0.99	(1.18)	1.74	(1.91)	7.39
SNNUF	1.95	0.25	0.07	0.37	2.09	(5.03)	9.04	(6.59)	15.96
CNMD	1.66	(0.17)	0.00	(0.17)	0.00	0.00	3.50	(3.54)	13.79
NUVA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GKOS	2.00	(0.15)	0.00	(0.16)	0.00	0.00	4.77	(3.00)	25.28
ITGR	1.08	(0.08)	0.00	(0.07)	0.00	0.00	1.72	(2.80)	8.30

Koninklijke Philips Corporate Management

Willem Appelo	Chief Officer	Profile
Leandro Mazzoni	Head Relations	Profile
Neelam Dhawan	Independent Member of the Supervisory Board	Profile
M Doherty	Independent Member of the Shariah Supervisory Board	Profile

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