Walgreens Boots Correlations

WBA Stock

USD 11.53 0.01 0.09%

The current 90-days correlation between Walgreens Boots Alliance and Target is -0.1 (i.e., Good diversification). The correlation of Walgreens Boots 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.

Walgreens Boots Correlation With Market

Good diversification

The correlation between Walgreens Boots Alliance and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Walgreens Boots Alliance and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Walgreens Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Walgreens Boots Alliance. 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 labor statistics.

Moving together with Walgreens Stock

0.75	DG	Dollar General	Pair Corr
0.92	DLTR	Dollar Tree	Pair Corr
0.76	DTCK	Davis Commodities	Pair Corr
0.79	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.84	WILC	G Willi Food	Pair Corr
0.82	AVO	Mission Produce	Pair Corr
0.85	SYY	Sysco Earnings Call This Week	Pair Corr
0.79	TGT	Target	Pair Corr
0.82	PFGC	Performance Food Sell-off Trend	Pair Corr
0.65	PSMT	PriceSmart	Pair Corr
0.62	SPTN	SpartanNash	Pair Corr
0.74	CHEF	Chefs Warehouse Earnings Call This Week	Pair Corr
0.89	USFD	US Foods Holding Sell-off Trend	Pair Corr

Moving against Walgreens Stock

0.82	GO	Grocery Outlet Holding	Pair Corr
0.76	BJ	BJs Wholesale Club	Pair Corr
0.75	WMK	Weis Markets	Pair Corr
0.72	NGVC	Natural Grocers by Earnings Call This Week	Pair Corr
0.71	GRDN	Guardian Pharmacy	Pair Corr
0.71	HFFG	Hf Foods Group	Pair Corr
0.61	YI	111 Inc	Pair Corr
0.56	DDL	Dingdong ADR	Pair Corr
0.45	MSS	Maison Solutions	Pair Corr
0.42	ACI	Albertsons Companies	Pair Corr
0.33	SFM	Sprouts Farmers Market Earnings Call This Week	Pair Corr
0.87	601933	Yonghui Superstores	Pair Corr
0.77	NWC	North West	Pair Corr
0.65	SANW	SW Seed Company	Pair Corr
0.62	TBBB	BBB Foods	Pair Corr
0.34	COST	Costco Wholesale Corp Sell-off Trend	Pair Corr
0.33	UNFI	United Natural Foods	Pair Corr

Related Correlations Analysis

	PETS	HITI	BIMI	CVS	ABBV	KHC	MMM	TGT
PETS		0.08	0.0	-0.45	0.08	-0.12	0.0	-0.22	PETS
HITI	0.08		0.0	-0.21	0.42	0.57	0.03	0.33	HITI
BIMI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	BIMI
CVS	-0.45	-0.21	0.0		0.21	-0.08	-0.24	-0.03	CVS
ABBV	0.08	0.42	0.0	0.21		-0.14	0.38	0.48	ABBV
KHC	-0.12	0.57	0.0	-0.08	-0.14		-0.54	-0.21	KHC
MMM	0.0	0.03	0.0	-0.24	0.38	-0.54		0.75	MMM
TGT	-0.22	0.33	0.0	-0.03	0.48	-0.21	0.75		TGT
	PETS	HITI	BIMI	CVS	ABBV	KHC	MMM	TGT

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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

TGT	+ 0.75	MMM
KHC	+ 0.57	HITI
TGT	+ 0.48	ABBV
ABBV	+ 0.42	HITI
MMM	+ 0.38	ABBV
TGT	+ 0.33	HITI

High negative correlations

MMM	- 0.54	KHC
CVS	- 0.45	PETS
MMM	- 0.24	CVS
TGT	- 0.22	PETS
TGT	- 0.21	KHC
CVS	- 0.21	HITI

Risk-Adjusted Indicators

There is a big difference between Walgreens Stock performing well and Walgreens Boots 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 Walgreens Boots' 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
PETS	2.52	0.13	0.04	0.33	3.05	(2.86)	5.38	(4.74)	18.54
HITI	1.48	0.14	(0.05)	(0.95)	1.58	(1.76)	2.88	(2.63)	7.88
BIMI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CVS	1.31	(0.20)	0.00	(0.17)	0.00	0.00	2.58	(3.14)	10.75
ABBV	1.26	(0.06)	(0.02)	0.15	1.72	(1.23)	2.66	(2.40)	8.99
KHC	1.12	0.05	(0.12)	(0.14)	1.45	(1.12)	2.43	(2.18)	6.80
MMM	1.28	(0.09)	0.02	0.15	1.32	(1.37)	2.93	(1.97)	11.77
TGT	1.62	(0.04)	0.02	0.17	1.77	(1.77)	4.06	(2.77)	10.07

Walgreens Boots Corporate Management

Joseph Amsbary	Senior Secretary	Profile
Lanesha JD	Executive Officer	Profile
Holly May	Ex Officer	Profile
Beth Leonard	Senior Officer	Profile
Mary Langowski	Executive Healthcare	Profile

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