Merck Correlations

MRK Stock

USD 100.30 1.29 1.30%

The current 90-days correlation between Merck Company and Pfizer Inc is 0.77 (i.e., Poor 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

Modest diversification

The correlation between Merck Company and DJI is 0.29 (i.e., Modest 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

0.92	AZN	AstraZeneca PLC ADR	Pair Corr
0.83	GSK	GlaxoSmithKline PLC ADR	Pair Corr
0.93	JNJ	Johnson Johnson	Pair Corr
0.74	PFE	Pfizer Inc	Pair Corr
0.74	SHG	Shinhan Financial	Pair Corr
0.61	EC	Ecopetrol SA ADR	Pair Corr
0.76	TLK	Telkom Indonesia Tbk	Pair Corr
0.8	MTC	MMTEC Inc	Pair Corr
0.72	JBHT	JB Hunt Transport	Pair Corr
0.74	NHIC	NewHold Investment Corp	Pair Corr
0.79	DRXGF	Drax Group plc	Pair Corr
0.85	GKOS	Glaukos Corp	Pair Corr
0.77	AAPL	Apple Inc	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr

Moving against Merck Stock

0.81	MVP	Medical Developments	Pair Corr
0.81	SNES	SenesTech	Pair Corr
0.72	EXL	Elixinol Wellness	Pair Corr
0.65	NVO	Novo Nordisk AS	Pair Corr
0.84	HD	Home Depot	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.66	BA	Boeing	Pair Corr
0.61	PG	Procter Gamble	Pair Corr
0.61	CVX	Chevron Corp	Pair Corr
0.54	T	ATT Inc	Pair Corr

Related Correlations Analysis

	PFE	MRK	SCGCX	FTRNX	AA	AZO	ORLY	RACE	WFC	SEED
PFE		0.74	0.38	0.02	0.53	-0.24	-0.17	-0.15	0.18	0.05	PFE
MRK	0.74		0.38	-0.08	0.79	-0.48	-0.37	-0.6	0.46	0.06	MRK
SCGCX	0.38	0.38		0.83	0.7	-0.62	-0.62	-0.36	0.68	0.51	SCGCX
FTRNX	0.02	-0.08	0.83		0.32	-0.36	-0.44	-0.08	0.36	0.5	FTRNX
AA	0.53	0.79	0.7	0.32		-0.74	-0.65	-0.74	0.75	0.4	AA
AZO	-0.24	-0.48	-0.62	-0.36	-0.74		0.96	0.77	-0.75	-0.42	AZO
ORLY	-0.17	-0.37	-0.62	-0.44	-0.65	0.96		0.72	-0.65	-0.51	ORLY
RACE	-0.15	-0.6	-0.36	-0.08	-0.74	0.77	0.72		-0.57	-0.49	RACE
WFC	0.18	0.46	0.68	0.36	0.75	-0.75	-0.65	-0.57		0.27	WFC
SEED	0.05	0.06	0.51	0.5	0.4	-0.42	-0.51	-0.49	0.27		SEED
	PFE	MRK	SCGCX	FTRNX	AA	AZO	ORLY	RACE	WFC	SEED

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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

ORLY	+ 0.96	AZO
FTRNX	+ 0.83	SCGCX
AA	+ 0.79	MRK
RACE	+ 0.77	AZO
WFC	+ 0.75	AA
MRK	+ 0.74	PFE

High negative correlations

WFC	- 0.75	AZO
RACE	- 0.74	AA
AZO	- 0.74	AA
WFC	- 0.65	ORLY
ORLY	- 0.65	AA
ORLY	- 0.62	SCGCX

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
PFE	1.20	0.02	0.02	0.09	1.38	(1.26)	2.62	(2.25)	10.28
MRK	1.41	0.22	0.15	0.32	1.18	(1.81)	4.84	(2.60)	11.45
SCGCX	0.43	(0.02)	(0.05)	0.04	0.67	(0.41)	0.87	(1.06)	2.54
FTRNX	0.94	(0.07)	(0.03)	0.01	1.54	(0.84)	1.63	(2.55)	5.97
AA	2.74	0.45	0.19	0.28	2.53	(3.23)	6.55	(4.82)	18.14
AZO	1.11	(0.36)	0.00	(5.88)	0.00	0.00	1.81	(2.67)	9.96
ORLY	0.97	(0.21)	0.00	(2.46)	0.00	0.00	2.20	(1.98)	6.37
RACE	1.60	(0.45)	0.00	(0.38)	0.00	0.00	2.38	(2.95)	17.91
WFC	1.06	0.13	0.10	0.17	1.18	(1.10)	2.31	(2.09)	9.99
SEED	4.93	0.59	0.14	0.44	4.16	(7.49)	12.04	(8.28)	47.79

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