McKesson Correlations

McKesson Correlation With Market

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in McKesson. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators. For more information on how to buy McKesson Stock please use our How to buy in McKesson Stock guide.

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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    LH + 0.9 CAH HSIC + 0.84 CAH LH + 0.8 HSIC CI + 0.8 HUM CAH + 0.75 COR OMI + 0.68 CAH

High negative correlations    HUM - 0.66 HSIC HUM - 0.66 CAH LH - 0.57 HUM CI - 0.54 HSIC CI - 0.5 CAH LH - 0.38 CI

Risk-Adjusted Indicators

There is a big difference between McKesson Stock performing well and McKesson 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 McKesson'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.