Johnson Johnson Correlations

JNJ Stock

USD 152.19 0.87 0.57%

The current 90-days correlation between Johnson Johnson and Merck Company is 0.56 (i.e., Very weak 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

Modest diversification

The correlation between Johnson Johnson and DJI is 0.23 (i.e., Modest 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 board of governors.

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

Moving together with Johnson Stock

0.63	DRMA	Dermata Therapeutics	Pair Corr
0.66	BMY	Bristol Myers Squibb	Pair Corr
0.62	LLY	Eli Lilly	Pair Corr
0.74	MRK	Merck Company	Pair Corr
0.66	PFE	Pfizer Inc	Pair Corr
0.68	ABBV	AbbVie Inc	Pair Corr
0.61	ADTX	Aditxt Inc	Pair Corr
0.7	AMGN	Amgen Inc	Pair Corr
0.64	SSY	SunLink Health Systems	Pair Corr

Moving against Johnson Stock

0.39	NHC	National HealthCare	Pair Corr
0.33	EHC	Encompass Health Corp	Pair Corr
0.6	SSNLF	Samsung Electronics	Pair Corr
0.43	AMRUTANJAN	Amrutanjan Health Care	Pair Corr

Related Correlations Analysis

	MRK	BMY	AMGN	PFE	ABBV	LLY	GILD
MRK		0.87	0.8	0.7	0.83	0.68	0.32	MRK
BMY	0.87		0.83	0.5	0.67	0.41	0.36	BMY
AMGN	0.8	0.83		0.71	0.71	0.45	0.67	AMGN
PFE	0.7	0.5	0.71		0.86	0.43	0.59	PFE
ABBV	0.83	0.67	0.71	0.86		0.52	0.39	ABBV
LLY	0.68	0.41	0.45	0.43	0.52		0.18	LLY
GILD	0.32	0.36	0.67	0.59	0.39	0.18		GILD
	MRK	BMY	AMGN	PFE	ABBV	LLY	GILD

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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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MRK	1.62	(0.25)	(0.31)	0.00	0.00	2.55	(4.72)	10.58
BMY	1.57	(0.38)	(0.59)	0.00	0.00	1.99	(3.84)	9.03
AMGN	1.47	(0.20)	(0.25)	0.00	0.00	2.87	(3.44)	9.70
PFE	1.46	(0.11)	(0.11)	0.00	0.00	2.66	(3.72)	7.35
ABBV	1.49	(0.21)	(0.23)	0.00	0.00	2.65	(4.55)	9.34
LLY	2.16	(0.11)	(0.10)	0.00	0.00	3.72	(4.35)	25.96
GILD	1.58	0.01	0.07	2.00	(1.63)	2.78	(3.09)	10.13

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