STRYKER Correlations

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90.06 0.00 0.00%

The current 90-days correlation between STRYKER P 4375 and AEP TEX INC is 0.22 (i.e., Modest diversification). The correlation of STRYKER 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.

STRYKER Correlation With Market

Average diversification

The correlation between STRYKER P 4375 and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STRYKER P 4375 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to STRYKER could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace STRYKER 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 STRYKER - 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 STRYKER P 4375 to buy it.

Moving together with STRYKER Bond

0.65	DNOW	Now Inc	Pair Corr
0.65	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.64	TRV	The Travelers Companies	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr
0.62	PG	Procter Gamble	Pair Corr

Moving against STRYKER Bond

0.46	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.46	BA	Boeing Earnings Call This Week	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	ACI	IBG	CAH	KAVL	SNPS	RCAT	KOPN	501044DM0
00108WAF7		-0.01	0.09	0.06	0.19	-0.08	0.18	0.06	0.09	-0.02	00108WAF7
90331HPL1	-0.01		-0.42	0.04	-0.42	-0.53	0.07	-0.13	-0.17	0.42	90331HPL1
ACI	0.09	-0.42		0.53	0.71	0.21	-0.07	0.74	0.64	-0.4	ACI
IBG	0.06	0.04	0.53		0.53	-0.4	-0.01	0.79	0.67	-0.34	IBG
CAH	0.19	-0.42	0.71	0.53		0.09	0.35	0.51	0.55	-0.25	CAH
KAVL	-0.08	-0.53	0.21	-0.4	0.09		-0.23	-0.11	0.09	-0.1	KAVL
SNPS	0.18	0.07	-0.07	-0.01	0.35	-0.23		-0.27	-0.27	0.33	SNPS
RCAT	0.06	-0.13	0.74	0.79	0.51	-0.11	-0.27		0.89	-0.47	RCAT
KOPN	0.09	-0.17	0.64	0.67	0.55	0.09	-0.27	0.89		-0.4	KOPN
501044DM0	-0.02	0.42	-0.4	-0.34	-0.25	-0.1	0.33	-0.47	-0.4		501044DM0
	00108WAF7	90331HPL1	ACI	IBG	CAH	KAVL	SNPS	RCAT	KOPN	501044DM0

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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

KOPN	+ 0.89	RCAT
RCAT	+ 0.79	IBG
RCAT	+ 0.74	ACI
CAH	+ 0.71	ACI
KOPN	+ 0.67	IBG
KOPN	+ 0.64	ACI

High negative correlations

KAVL	- 0.53	90331HPL1
501044DM0	- 0.47	RCAT
CAH	- 0.42	90331HPL1
ACI	- 0.42	90331HPL1
501044DM0	- 0.4	KOPN
KAVL	- 0.4	IBG

Risk-Adjusted Indicators

There is a big difference between STRYKER Bond performing well and STRYKER 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 STRYKER'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
00108WAF7	1.43	0.07	0.03	0.15	1.82	(1.67)	5.71	(2.57)	13.96
90331HPL1	0.47	(0.03)	0.00	(0.43)	0.00	0.00	1.64	(1.87)	7.59
ACI	1.19	0.11	0.05	0.76	1.28	(1.24)	3.09	(2.15)	7.65
IBG	6.41	0.79	0.12	(0.78)	5.56	(9.57)	16.85	(9.57)	63.68
CAH	1.05	0.22	0.13	0.75	1.18	(1.11)	2.28	(2.07)	10.65
KAVL	4.92	0.81	0.11	(0.39)	5.44	(6.17)	12.00	(9.02)	46.68
SNPS	1.75	0.14	0.04	0.29	2.75	(1.87)	3.43	(3.41)	19.02
RCAT	8.59	1.95	0.25	0.67	7.41	(10.56)	22.88	(13.15)	50.11
KOPN	4.90	1.49	0.30	1.65	3.98	(6.25)	13.95	(6.49)	31.66
501044DM0	1.36	0.09	0.03	0.27	1.87	(1.65)	4.38	(3.19)	16.81

Be your own money manager

Our tools can tell you how much better you can do entering a position in STRYKER 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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