Johnson Johnson Correlations

JNJ Stock

USD 214.17 2.59 1.22%

The current 90-days correlation between Johnson Johnson and Elevance Health is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Johnson Johnson moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Johnson Johnson moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Johnson Johnson Correlation With Market

Average diversification

The correlation between Johnson Johnson 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 Johnson Johnson and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Johnson Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Johnson Johnson. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Johnson Stock please use our How to buy in Johnson Stock guide.

Moving together with Johnson Stock

0.92	AZN	AstraZeneca PLC ADR	Pair Corr
0.86	GSK	GlaxoSmithKline PLC ADR	Pair Corr
0.93	MRK	Merck Company Aggressive Push	Pair Corr
0.65	NVS	Novartis AG ADR	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.74	SHG	Shinhan Financial	Pair Corr
0.67	TLK	Telkom Indonesia Tbk	Pair Corr
0.76	MTC	MMTEC Inc Tech Boost	Pair Corr
0.79	JBHT	JB Hunt Transport	Pair Corr
0.77	NHIC	NewHold Investment Corp	Pair Corr
0.77	DRXGF	Drax Group plc	Pair Corr
0.8	GKOS	Glaukos Corp	Pair Corr
0.78	AAPL	Apple Inc	Pair Corr
0.62	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.76	DD	Dupont De Nemours	Pair Corr

Moving against Johnson Stock

0.87	SNES	SenesTech	Pair Corr
0.87	VFSWW	VinFast Auto	Pair Corr
0.7	MVP	Medical Developments	Pair Corr
0.69	EXL	Elixinol Wellness	Pair Corr
0.68	NVO	Novo Nordisk AS Aggressive Push	Pair Corr
0.89	HD	Home Depot	Pair Corr
0.77	DIS	Walt Disney	Pair Corr
0.73	PG	Procter Gamble	Pair Corr
0.72	HPQ	HP Inc	Pair Corr
0.69	T	ATT Inc	Pair Corr
0.69	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.64	BA	Boeing	Pair Corr
0.44	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	COR	REGN	IDXX	HLN	CI	ELV	BDX	ELAN	ARGX	TAK
COR		0.82	0.77	0.67	-0.64	-0.02	0.16	0.84	0.89	-0.46	COR
REGN	0.82		0.86	0.67	-0.65	-0.06	0.45	0.69	0.86	-0.09	REGN
IDXX	0.77	0.86		0.71	-0.66	-0.21	0.26	0.64	0.75	-0.11	IDXX
HLN	0.67	0.67	0.71		-0.4	-0.23	0.33	0.48	0.7	-0.02	HLN
CI	-0.64	-0.65	-0.66	-0.4		0.46	0.14	-0.46	-0.52	0.43	CI
ELV	-0.02	-0.06	-0.21	-0.23	0.46		0.5	0.17	0.17	-0.08	ELV
BDX	0.16	0.45	0.26	0.33	0.14	0.5		0.1	0.43	0.51	BDX
ELAN	0.84	0.69	0.64	0.48	-0.46	0.17	0.1		0.78	-0.53	ELAN
ARGX	0.89	0.86	0.75	0.7	-0.52	0.17	0.43	0.78		-0.34	ARGX
TAK	-0.46	-0.09	-0.11	-0.02	0.43	-0.08	0.51	-0.53	-0.34		TAK
	COR	REGN	IDXX	HLN	CI	ELV	BDX	ELAN	ARGX	TAK

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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

ARGX	+ 0.89	COR
IDXX	+ 0.86	REGN
ARGX	+ 0.86	REGN
ELAN	+ 0.84	COR
REGN	+ 0.82	COR
ARGX	+ 0.78	ELAN

High negative correlations

CI	- 0.66	IDXX
CI	- 0.65	REGN
CI	- 0.64	COR
TAK	- 0.53	ELAN
ARGX	- 0.52	CI
ELAN	- 0.46	CI

Risk-Adjusted Indicators

There is a big difference between Johnson Stock performing well and Johnson Johnson 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 Johnson Johnson'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
COR	1.05	0.21	0.08	(5.89)	1.45	(1.10)	2.41	(2.62)	9.09
REGN	1.79	0.38	0.18	0.58	1.59	(2.15)	4.86	(3.32)	15.67
IDXX	1.36	0.09	0.06	0.16	1.29	(1.66)	3.61	(2.94)	18.02
HLN	1.09	(0.08)	0.00	(0.13)	0.00	0.00	2.49	(1.79)	6.17
CI	1.64	(0.18)	0.00	(0.14)	0.00	0.00	3.68	(2.53)	22.11
ELV	1.40	0.14	0.09	0.21	1.45	(1.66)	3.40	(2.54)	7.42
BDX	1.05	0.02	0.02	0.09	1.07	(1.17)	2.22	(1.77)	5.83
ELAN	1.57	0.13	0.07	0.19	1.69	(1.86)	3.78	(3.54)	10.56
ARGX	1.06	0.19	0.11	0.67	1.01	(1.11)	2.58	(1.87)	6.50
TAK	0.77	(0.11)	0.00	(0.13)	0.00	0.00	1.59	(2.05)	5.31

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