International Business Correlations

IBM Stock

USD 309.24 1.50 0.48%

The current 90-days correlation between International Business and Merck Company is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as International Business moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if International Business Machines moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

International Business Correlation With Market

Very weak diversification

The correlation between International Business Machine and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Business Machine and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with International Stock

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

Moving together with International Stock

0.61	DVLT	Datavault AI Symbol Change	Pair Corr
0.63	ACN	Accenture plc Earnings Call This Week	Pair Corr
0.74	300588	Xinjiang Sailing Inf	Pair Corr
0.72	000555	Digital China Information	Pair Corr
0.7	300300	Strait Innovation	Pair Corr

Moving against International Stock

0.76	300608	SI TECH Information	Pair Corr
0.72	002987	Northking Information	Pair Corr
0.7	KD	Kyndryl Holdings	Pair Corr
0.68	MASK	3 E Network	Pair Corr
0.6	DUG	DUG Technology	Pair Corr
0.57	300168	Wonders Information	Pair Corr
0.57	301299	Sublime China Information	Pair Corr
0.41	603559	Zhongtong Guomai Com	Pair Corr
0.4	DOX	Amdocs	Pair Corr
0.34	300525	Fujian Boss Software	Pair Corr
0.32	DTL	Data 3	Pair Corr
0.81	SKM	SK Telecom	Pair Corr
0.75	TDTH	Trident Digital Tech	Pair Corr
0.65	301236	iSoftStone Information	Pair Corr
0.6	SAIC	Science Applications	Pair Corr
0.58	CYCU	Cycurion, Symbol Change	Pair Corr
0.57	CRCL	Circle Internet Group,	Pair Corr
0.44	RIME	Algorhythm Holdings,	Pair Corr
0.43	CTDD	Qwest Corp 6	Pair Corr
0.42	300846	Capitalonline Data	Pair Corr
0.41	CTBB	Qwest Corp NT	Pair Corr
0.31	301178	Guangdong TianYiMa	Pair Corr

Related Correlations Analysis

	AAPL	MRK	SCGCX	FTRNX	AA	AZO	ORLY	RACE	WFC	SEED
AAPL		0.77	0.66	0.26	0.78	-0.77	-0.7	-0.64	0.71	0.24	AAPL
MRK	0.77		0.38	-0.08	0.79	-0.48	-0.37	-0.6	0.46	0.06	MRK
SCGCX	0.66	0.38		0.83	0.7	-0.62	-0.62	-0.36	0.68	0.51	SCGCX
FTRNX	0.26	-0.08	0.83		0.32	-0.36	-0.44	-0.08	0.36	0.5	FTRNX
AA	0.78	0.79	0.7	0.32		-0.74	-0.65	-0.74	0.75	0.4	AA
AZO	-0.77	-0.48	-0.62	-0.36	-0.74		0.96	0.77	-0.75	-0.42	AZO
ORLY	-0.7	-0.37	-0.62	-0.44	-0.65	0.96		0.72	-0.65	-0.51	ORLY
RACE	-0.64	-0.6	-0.36	-0.08	-0.74	0.77	0.72		-0.57	-0.49	RACE
WFC	0.71	0.46	0.68	0.36	0.75	-0.75	-0.65	-0.57		0.27	WFC
SEED	0.24	0.06	0.51	0.5	0.4	-0.42	-0.51	-0.49	0.27		SEED
	AAPL	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
AA	+ 0.78	AAPL
MRK	+ 0.77	AAPL
RACE	+ 0.77	AZO

High negative correlations

AZO	- 0.77	AAPL
WFC	- 0.75	AZO
RACE	- 0.74	AA
AZO	- 0.74	AA
ORLY	- 0.7	AAPL
WFC	- 0.65	ORLY

Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Business 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 International Business' 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
AAPL	0.89	0.23	0.21	0.35	0.70	(1.03)	2.28	(1.56)	7.76
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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