PFIZER Correlations

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93.33 3.88 3.99%

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.

PFIZER Correlation With Market

Good diversification

The correlation between PFIZER INC 3 and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PFIZER INC 3 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 3 to buy it.

Moving against PFIZER Bond

0.61	JBBB	Janus Detroit Street	Pair Corr
0.6	DMRC	Digimarc	Pair Corr
0.57	784730AB9	US784730AB94	Pair Corr
0.56	NBIX	Neurocrine Biosciences	Pair Corr
0.55	FELG	Fidelity Covington Trust	Pair Corr
0.51	IDAT	Ishares Trust	Pair Corr
0.49	SMLR	Semler Scientific	Pair Corr
0.47	PETS	PetMed Express	Pair Corr
0.42	HAFC	Hanmi Financial Fiscal Year End 28th of January 2025	Pair Corr
0.4	ESGLW	ESGL Holdings Limited	Pair Corr
0.4	WBA	Walgreens Boots Alliance	Pair Corr
0.4	BSGM	BioSig Technologies,	Pair Corr
0.4	IBLC	iShares Blockchain and	Pair Corr
0.38	CRAI	CRA International	Pair Corr
0.38	RPG	Invesco SP 500	Pair Corr
0.35	PSQH	PSQ Holdings	Pair Corr
0.34	OBYCF	Obayashi	Pair Corr
0.32	FRME	First Merchants Fiscal Year End 23rd of January 2025	Pair Corr
0.61	SOFR	SOFR Symbol Change	Pair Corr
0.6	PSDSX	Palmer Square Ultra	Pair Corr
0.6	PSHAX	Short Term Fund	Pair Corr
0.54	HGOSX	Hartford Growth	Pair Corr
0.54	HGOVX	Hartford Growth	Pair Corr
0.53	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.52	QJUN	First Trust Exchange	Pair Corr
0.51	ARKQ	ARK Autonomous Technology	Pair Corr
0.5	AAPB	GraniteShares ETF Trust	Pair Corr
0.48	LOUP	Innovator Loup Frontier	Pair Corr
0.48	SABA	Saba Capital Income Symbol Change	Pair Corr
0.48	MBCZX	Massmutual Select Blue Potential Growth	Pair Corr
0.46	BTC	Grayscale Bitcoin Mini	Pair Corr
0.45	TRFK	Pacer Funds Trust	Pair Corr
0.43	LACXX	Lord Abbett Govt	Pair Corr

Related Correlations Analysis

	CSXXY	BEDU	LCID	RYAAY	CARS	AXL	FSTR	COE
CSXXY		-0.42	-0.23	0.1	0.55	0.47	0.68	0.19	CSXXY
BEDU	-0.42		0.57	-0.03	-0.6	-0.53	-0.6	0.15	BEDU
LCID	-0.23	0.57		-0.11	-0.54	-0.37	-0.55	0.11	LCID
RYAAY	0.1	-0.03	-0.11		0.19	0.15	0.02	0.22	RYAAY
CARS	0.55	-0.6	-0.54	0.19		0.78	0.86	-0.06	CARS
AXL	0.47	-0.53	-0.37	0.15	0.78		0.71	-0.3	AXL
FSTR	0.68	-0.6	-0.55	0.02	0.86	0.71		-0.03	FSTR
COE	0.19	0.15	0.11	0.22	-0.06	-0.3	-0.03		COE
	CSXXY	BEDU	LCID	RYAAY	CARS	AXL	FSTR	COE

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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

FSTR	+ 0.86	CARS
AXL	+ 0.78	CARS
FSTR	+ 0.71	AXL
FSTR	+ 0.68	CSXXY
LCID	+ 0.57	BEDU
CARS	+ 0.55	CSXXY

High negative correlations

FSTR	- 0.6	BEDU
CARS	- 0.6	BEDU
FSTR	- 0.55	LCID
CARS	- 0.54	LCID
AXL	- 0.53	BEDU
BEDU	- 0.42	CSXXY

Risk-Adjusted Indicators

There is a big difference between PFIZER Bond performing well and PFIZER Corporate Bond 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
CSXXY	0.70	0.04	0.00	0.14	0.00	0.00	0.00	(1.67)	16.82
BEDU	2.23	(0.03)	0.00	0.07	0.00	0.00	5.38	(5.41)	13.53
LCID	3.38	(0.19)	0.00	(0.16)	0.00	0.00	6.47	(7.65)	21.50
RYAAY	1.42	(0.05)	0.00	(0.08)	0.00	0.00	3.10	(3.02)	8.49
CARS	1.66	(0.09)	0.00	(0.04)	0.00	0.00	4.66	(2.95)	10.37
AXL	2.02	(0.14)	0.00	(0.05)	0.00	0.00	4.60	(3.53)	13.77
FSTR	1.98	0.39	0.18	0.22	1.84	(2.20)	6.37	(3.40)	17.99
COE	2.91	0.24	0.06	(20.41)	3.32	(3.56)	9.36	(4.95)	28.89

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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