MERCK Kommanditgesells Correlations

MKGAF Stock

USD 130.40 1.20 0.91%

The current 90-days correlation between MERCK Kommanditgesells and Merck KGaA ADR is 0.38 (i.e., Weak diversification). The correlation of MERCK Kommanditgesells 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.

MERCK Kommanditgesells Correlation With Market

Weak diversification

The correlation between MERCK Kommanditgesellschaft au and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MERCK Kommanditgesellschaft au and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MERCK Kommanditgesells could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MERCK Kommanditgesells when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MERCK Kommanditgesells - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MERCK Kommanditgesellschaft auf to buy it.

Moving together with MERCK Pink Sheet

0.82

MKKGY

Merck KGaA ADR

Pair Corr

Moving against MERCK Pink Sheet

0.6	EC	Ecopetrol SA ADR	Pair Corr
0.57	TEVA	Teva Pharmaceutical	Pair Corr
0.42	WF	Woori Financial Group Earnings Call This Week	Pair Corr
0.4	SHG	Shinhan Financial Earnings Call This Week	Pair Corr
0.39	TLK	Telkom Indonesia Tbk	Pair Corr
0.36	KB	KB Financial Group Earnings Call Tomorrow	Pair Corr
0.33	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.31	LTRY	Lottery, Common Stock	Pair Corr
0.36	JPM	JPMorgan Chase	Pair Corr
0.36	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.35	CAT	Caterpillar	Pair Corr
0.35	XOM	Exxon Mobil Corp	Pair Corr
0.34	BAC	Bank of America	Pair Corr
0.33	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	EXMT	MKKGY	MSMY	CMXHF	CHGCY	CSLLY	ESLOF
EXMT		0.04	-0.28	-0.14	0.17	-0.05	-0.04	EXMT
MKKGY	0.04		-0.27	-0.01	0.6	-0.01	0.14	MKKGY
MSMY	-0.28	-0.27		0.2	-0.5	0.58	0.06	MSMY
CMXHF	-0.14	-0.01	0.2		0.04	0.53	0.17	CMXHF
CHGCY	0.17	0.6	-0.5	0.04		-0.15	-0.07	CHGCY
CSLLY	-0.05	-0.01	0.58	0.53	-0.15		0.32	CSLLY
ESLOF	-0.04	0.14	0.06	0.17	-0.07	0.32		ESLOF
	EXMT	MKKGY	MSMY	CMXHF	CHGCY	CSLLY	ESLOF

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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

CHGCY	+ 0.6	MKKGY
CSLLY	+ 0.58	MSMY
CSLLY	+ 0.53	CMXHF
ESLOF	+ 0.32	CSLLY
CMXHF	+ 0.2	MSMY
CHGCY	+ 0.17	EXMT

High negative correlations

CHGCY	- 0.5	MSMY
MSMY	- 0.28	EXMT
MSMY	- 0.27	MKKGY
CSLLY	- 0.15	CHGCY
CMXHF	- 0.14	EXMT
ESLOF	- 0.07	CHGCY

Risk-Adjusted Indicators

There is a big difference between MERCK Pink Sheet performing well and MERCK Kommanditgesells 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 Kommanditgesells' 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
EXMT	11.71	1.07	0.04	2.56	12.33	(33.33)	33.33	(25.00)	58.33
MKKGY	1.37	(0.09)	0.00	(0.05)	0.00	0.00	2.79	(2.70)	11.62
MSMY	4.67	1.05	0.04	(1.00)	5.90	(18.05)	16.67	(12.50)	61.90
CMXHF	2.89	0.24	0.02	(0.63)	3.30	(3.87)	7.11	(7.39)	18.25
CHGCY	1.98	0.11	(0.04)	(0.11)	2.17	(2.39)	3.46	(3.87)	26.95
CSLLY	1.11	0.10	0.00	0.43	1.44	(1.14)	2.57	(2.02)	6.71
ESLOF	1.52	0.01	(0.02)	0.14	1.81	(1.63)	2.94	(3.07)	8.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in MERCK Kommanditgesells without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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MERCK Kommanditgesells Corporate Management

Matthias Heinzel	CEO Board	Profile
Peter Guenter	CEO Board	Profile
Barbara Weiland	Chief Officer	Profile
Dirk Toepfer	Chief Officer	Profile
Gerhard Schmitz	Head Accounting	Profile
Belen MD	Chair CEO	Profile
Kai Beckmann	Head of Group HR, General Partner and Member of Executive Board	Profile

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