Merck Correlations

MRK Stock

USD 84.12 0.91 1.09%

The current 90-days correlation between Merck Company and Thermo Fisher Scientific is 0.55 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Merck moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Merck Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Merck Correlation With Market

Very weak diversification

The correlation between Merck Company and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Merck Company and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Merck Stock

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

Moving together with Merck Stock

0.68	ESPR	Esperion Therapeutics	Pair Corr
0.68	XENE	Xenon Pharmaceuticals	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.91	PFE	Pfizer Inc	Pair Corr
0.64	GBIO	Generation Bio	Pair Corr
0.76	INBX	Inhibrx Biosciences,	Pair Corr
0.77	MCRB	Seres Therapeutics	Pair Corr
0.64	MTNB	Matinas BioPharma	Pair Corr
0.72	ONCY	Oncolytics Biotech	Pair Corr
0.65	REGN	Regeneron Pharmaceuticals	Pair Corr
0.69	ABBV	AbbVie Inc	Pair Corr
0.66	ABOS	Acumen Pharmaceuticals	Pair Corr
0.61	ANRO	Alto Neuroscience,	Pair Corr

Moving against Merck Stock

0.73	ERNA	Eterna Therapeutics	Pair Corr
0.32	FLGC	Flora Growth Corp	Pair Corr
0.6	HCWB	HCW Biologics Trending	Pair Corr
0.52	PCSA	Processa Pharmaceuticals	Pair Corr
0.32	LPCN	Lipocine	Pair Corr
0.7	ALVO	Alvotech	Pair Corr
0.35	AVBP	ArriVent BioPharma,	Pair Corr

Related Correlations Analysis

	ELAN	VTRS	LNTH	HLN	IDXX	TMO	SPGI	EW	DHR
ELAN		0.97	-0.84	-0.54	0.83	0.8	0.75	0.57	0.71	ELAN
VTRS	0.97		-0.8	-0.48	0.8	0.81	0.71	0.57	0.78	VTRS
LNTH	-0.84	-0.8		0.59	-0.88	-0.8	-0.82	-0.56	-0.49	LNTH
HLN	-0.54	-0.48	0.59		-0.62	-0.7	-0.75	-0.4	-0.36	HLN
IDXX	0.83	0.8	-0.88	-0.62		0.84	0.91	0.64	0.64	IDXX
TMO	0.8	0.81	-0.8	-0.7	0.84		0.85	0.74	0.74	TMO
SPGI	0.75	0.71	-0.82	-0.75	0.91	0.85		0.69	0.56	SPGI
EW	0.57	0.57	-0.56	-0.4	0.64	0.74	0.69		0.45	EW
DHR	0.71	0.78	-0.49	-0.36	0.64	0.74	0.56	0.45		DHR
	ELAN	VTRS	LNTH	HLN	IDXX	TMO	SPGI	EW	DHR

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

VTRS	+ 0.97	ELAN
SPGI	+ 0.91	IDXX
SPGI	+ 0.85	TMO
TMO	+ 0.84	IDXX
IDXX	+ 0.83	ELAN
TMO	+ 0.81	VTRS

High negative correlations

IDXX	- 0.88	LNTH
LNTH	- 0.84	ELAN
SPGI	- 0.82	LNTH
TMO	- 0.8	LNTH
LNTH	- 0.8	VTRS
SPGI	- 0.75	HLN

Risk-Adjusted Indicators

There is a big difference between Merck Stock performing well and Merck 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 Merck'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
ELAN	1.60	0.39	0.28	0.52	1.05	(2.13)	3.30	(2.28)	19.58
VTRS	1.43	0.21	0.14	0.30	1.31	(1.59)	2.87	(2.59)	8.61
LNTH	2.25	(0.40)	0.00	(1.13)	0.00	0.00	4.07	(3.87)	32.65
HLN	0.91	(0.23)	0.00	(0.82)	0.00	0.00	1.75	(2.06)	4.78
IDXX	1.52	0.17	0.15	0.20	1.49	(1.76)	2.14	(1.99)	33.48
TMO	1.46	0.15	0.11	0.20	1.61	(1.54)	3.35	(2.48)	12.89
SPGI	0.70	0.04	(0.01)	0.17	0.65	(0.77)	1.85	(1.20)	5.47
EW	0.89	0.02	(0.02)	0.15	0.92	(0.98)	2.09	(1.88)	7.82
DHR	1.22	0.00	0.01	0.11	1.61	(1.21)	2.49	(2.66)	7.75

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