American Express Correlations

AXP Stock

USD 369.95 3.44 0.92%

The current 90-days correlation between American Express and Visa Class A is 0.33 (i.e., Weak diversification). The correlation of American Express 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.

American Express Correlation With Market

Poor diversification

The correlation between American Express and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Express and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with American Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in American Express. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

To learn how to invest in American Stock, please use our How to Invest in American Express guide.

Moving together with American Stock

0.67	FTV	Fortive Corp	Pair Corr
0.63	WMT	Walmart Common Stock	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.74	CSCO	Cisco Systems	Pair Corr
0.74	XOM	Exxon Mobil Corp	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.84	DD	Dupont De Nemours	Pair Corr

Moving against American Stock

0.58	PG	Procter Gamble	Pair Corr
0.52	NTNX	Nutanix	Pair Corr
0.43	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	V	ALLY	GS	WFC	CAT
V		0.47	0.29	0.29	-0.28	V
ALLY	0.47		0.92	0.92	0.37	ALLY
GS	0.29	0.92		0.88	0.49	GS
WFC	0.29	0.92	0.88		0.54	WFC
CAT	-0.28	0.37	0.49	0.54		CAT
	V	ALLY	GS	WFC	CAT

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

GS	+ 0.92	ALLY
WFC	+ 0.92	ALLY
WFC	+ 0.88	GS
CAT	+ 0.54	WFC
CAT	+ 0.49	GS
ALLY	+ 0.47	V

High negative correlations

CAT

- 0.28

Risk-Adjusted Indicators

There is a big difference between American Stock performing well and American Express 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 American Express' 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
V	0.80	(0.01)	(0.05)	0.01	0.92	(1.02)	1.48	(1.40)	6.93
ALLY	1.44	0.22	0.09	1.26	1.80	(1.53)	3.01	(3.15)	9.48
GS	1.24	0.17	0.08	1.42	1.34	(1.30)	2.62	(2.00)	8.40
WFC	1.05	0.22	0.14	0.59	1.03	(1.12)	2.31	(1.92)	9.99
CAT	1.54	0.25	0.14	0.23	1.65	(1.71)	3.53	(3.40)	16.23

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