Eli Lilly Correlations

LLY Stock

USD 793.01 2.36 0.30%

The current 90-days correlation between Eli Lilly and Salarius Pharmaceuticals is -0.01 (i.e., Good diversification). The correlation of Eli Lilly is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Eli Lilly Correlation With Market

Modest diversification

The correlation between Eli Lilly and and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eli Lilly and and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Eli Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Eli Lilly and. 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 economic analysis.

Moving together with Eli Stock

0.66

MRK

Merck Company Aggressive Push

Pair Corr

Moving against Eli Stock

0.4	COLL	Collegium Pharmaceutical	Pair Corr
0.4	IOLCP	IOL Chemicals	Pair Corr
0.33	ALKS	Alkermes Plc	Pair Corr
0.45	MMM	3M Company Earnings Call This Week	Pair Corr
0.38	GE	GE Aerospace	Pair Corr
0.31	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	SLRX	NTRB	RNTX	ITRM	HOTH	NAOV	ADTX
SLRX		0.44	-0.33	-0.33	0.33	-0.48	-0.5	SLRX
NTRB	0.44		-0.46	-0.3	0.81	-0.71	-0.8	NTRB
RNTX	-0.33	-0.46		-0.15	-0.42	0.01	0.23	RNTX
ITRM	-0.33	-0.3	-0.15		-0.18	0.57	0.56	ITRM
HOTH	0.33	0.81	-0.42	-0.18		-0.62	-0.76	HOTH
NAOV	-0.48	-0.71	0.01	0.57	-0.62		0.87	NAOV
ADTX	-0.5	-0.8	0.23	0.56	-0.76	0.87		ADTX
	SLRX	NTRB	RNTX	ITRM	HOTH	NAOV	ADTX

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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

ADTX	+ 0.87	NAOV
HOTH	+ 0.81	NTRB
NAOV	+ 0.57	ITRM
ADTX	+ 0.56	ITRM
NTRB	+ 0.44	SLRX
HOTH	+ 0.33	SLRX

High negative correlations

ADTX	- 0.8	NTRB
ADTX	- 0.76	HOTH
NAOV	- 0.71	NTRB
NAOV	- 0.62	HOTH
ADTX	- 0.5	SLRX
NAOV	- 0.48	SLRX

Risk-Adjusted Indicators

There is a big difference between Eli Stock performing well and Eli Lilly 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 Eli Lilly'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
SLRX	4.85	0.42	0.06	1.22	4.20	(7.69)	9.86	(7.04)	78.33
NTRB	4.22	0.98	0.15	14.35	4.12	(5.13)	9.77	(7.56)	48.20
RNTX	3.51	(0.16)	0.00	(1.50)	0.00	0.00	6.21	(6.36)	25.03
ITRM	3.68	0.04	(0.02)	0.34	4.16	(5.12)	7.77	(6.47)	41.10
HOTH	4.92	1.31	0.18	(6.04)	4.60	(6.88)	10.00	(8.45)	87.22
NAOV	8.65	(1.98)	0.00	22.62	0.00	0.00	34.48	(21.89)	98.23
ADTX	4.56	(0.91)	0.00	4.15	0.00	0.00	12.50	(8.94)	37.30

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