Perrigo Company Correlations

PRGO Stock

USD 28.12 0.57 2.07%

The current 90-days correlation between Perrigo Company and Prestige Brand Holdings is 0.03 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Perrigo Company moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Perrigo Company PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Perrigo Company Correlation With Market

Very weak diversification

The correlation between Perrigo Company PLC and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Perrigo Company PLC and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Perrigo Company PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Perrigo Stock

0.65	VRDN	Viridian Therapeutics	Pair Corr
0.7	VTYX	Ventyx Biosciences	Pair Corr
0.69	PFE	Pfizer Inc	Pair Corr
0.72	MRVI	Maravai Lifesciences	Pair Corr
0.75	PGHL	Procter Gamble Health	Pair Corr
0.7	SAKAR	Sakar Healthcare	Pair Corr
0.63	AMRUTANJAN	Amrutanjan Health Care	Pair Corr
0.69	TTKHLTCARE	TTK Healthcare Earnings Call This Week	Pair Corr
0.85	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr
0.84	GE	GE Aerospace	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.83	MMM	3M Company Sell-off Trend	Pair Corr
0.88	DIS	Walt Disney	Pair Corr
0.79	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Perrigo Stock

0.76	CERT	Certara	Pair Corr
0.59	DAWN	Day One Biopharmaceu	Pair Corr
0.53	BAJAJHCARE	Bajaj Healthcare	Pair Corr
0.49	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	RDY	PBH	COLL	XRAY	UHS	RMD	COR	HSIC
RDY		0.18	0.51	0.58	0.0	0.58	0.36	0.6	RDY
PBH	0.18		-0.28	0.21	0.55	-0.03	-0.36	0.13	PBH
COLL	0.51	-0.28		0.81	0.18	0.81	0.47	0.76	COLL
XRAY	0.58	0.21	0.81		0.52	0.84	0.3	0.86	XRAY
UHS	0.0	0.55	0.18	0.52		0.28	-0.04	0.4	UHS
RMD	0.58	-0.03	0.81	0.84	0.28		0.53	0.81	RMD
COR	0.36	-0.36	0.47	0.3	-0.04	0.53		0.44	COR
HSIC	0.6	0.13	0.76	0.86	0.4	0.81	0.44		HSIC
	RDY	PBH	COLL	XRAY	UHS	RMD	COR	HSIC

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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

HSIC	+ 0.86	XRAY
RMD	+ 0.84	XRAY
XRAY	+ 0.81	COLL
RMD	+ 0.81	COLL
HSIC	+ 0.81	RMD
HSIC	+ 0.76	COLL

High negative correlations

COR	- 0.36	PBH
COLL	- 0.28	PBH
COR	- 0.04	UHS
RMD	- 0.03	PBH
UHS	- 0.0	RDY

Risk-Adjusted Indicators

There is a big difference between Perrigo Stock performing well and Perrigo Company 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 Perrigo Company'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
RDY	1.04	(0.04)	(0.08)	0.15	1.19	(1.15)	2.34	(2.29)	8.28
PBH	1.03	(0.05)	0.00	1.08	0.00	0.00	2.11	(2.13)	10.50
COLL	1.33	0.13	0.04	0.39	1.45	(1.37)	2.72	(2.53)	9.23
XRAY	1.74	0.50	0.11	(1.41)	1.58	(1.99)	4.99	(3.36)	21.58
UHS	1.63	0.06	0.00	0.12	0.00	0.00	4.29	(3.60)	11.51
RMD	0.84	0.37	0.21	(6.86)	0.21	(1.12)	1.53	(1.08)	12.16
COR	0.96	(0.01)	(0.10)	0.16	1.58	(0.92)	2.12	(1.64)	11.57
HSIC	1.11	0.02	0.00	0.23	1.17	(1.25)	2.76	(1.93)	7.22

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