Zoetis Correlations

ZTS Stock

USD 147.37 1.23 0.83%

The current 90-days correlation between Zoetis Inc and Elanco Animal Health is 0.51 (i.e., Very weak diversification). The correlation of Zoetis 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.

Zoetis Correlation With Market

Good diversification

The correlation between Zoetis Inc and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Zoetis Inc and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Zoetis Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zoetis Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Zoetis Stock

0.77

TRV

The Travelers Companies

Pair Corr

Moving against Zoetis Stock

0.46	NKTR	Nektar Therapeutics	Pair Corr
0.37	MRK	Merck Company Earnings Call Next Week	Pair Corr
0.31	JNJ	Johnson Johnson	Pair Corr
0.31	KMDA	Kamada	Pair Corr
0.31	XOM	Exxon Mobil Corp	Pair Corr

Related Correlations Analysis

	ELAN	VTRS	LNTH	HLN	IDXX	TMO	SPGI	EW	DHR
ELAN		0.87	-0.85	-0.1	0.94	-0.23	0.84	0.55	0.18	ELAN
VTRS	0.87		-0.59	-0.2	0.87	0.0	0.84	0.52	0.46	VTRS
LNTH	-0.85	-0.59		-0.14	-0.78	0.49	-0.65	-0.35	0.22	LNTH
HLN	-0.1	-0.2	-0.14		0.05	-0.53	-0.1	0.08	-0.22	HLN
IDXX	0.94	0.87	-0.78	0.05		-0.3	0.88	0.57	0.21	IDXX
TMO	-0.23	0.0	0.49	-0.53	-0.3		-0.09	-0.07	0.58	TMO
SPGI	0.84	0.84	-0.65	-0.1	0.88	-0.09		0.71	0.17	SPGI
EW	0.55	0.52	-0.35	0.08	0.57	-0.07	0.71		0.12	EW
DHR	0.18	0.46	0.22	-0.22	0.21	0.58	0.17	0.12		DHR
	ELAN	VTRS	LNTH	HLN	IDXX	TMO	SPGI	EW	DHR

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

IDXX	+ 0.94	ELAN
SPGI	+ 0.88	IDXX
VTRS	+ 0.87	ELAN
IDXX	+ 0.87	VTRS
SPGI	+ 0.84	ELAN
SPGI	+ 0.84	VTRS

High negative correlations

LNTH	- 0.85	ELAN
IDXX	- 0.78	LNTH
SPGI	- 0.65	LNTH
LNTH	- 0.59	VTRS
TMO	- 0.53	HLN
EW	- 0.35	LNTH

Risk-Adjusted Indicators

There is a big difference between Zoetis Stock performing well and Zoetis 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 Zoetis' 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
ELAN	1.99	0.89	0.50	(2.91)	0.84	(2.84)	3.92	(2.61)	29.80
VTRS	1.54	0.29	0.06	(1.70)	1.69	(1.65)	2.96	(3.46)	10.12
LNTH	2.05	(0.50)	0.00	(1.70)	0.00	0.00	2.50	(3.68)	25.89
HLN	0.89	(0.11)	0.00	0.69	0.00	0.00	1.74	(2.05)	6.74
IDXX	1.01	0.35	0.20	(4.12)	0.60	(1.24)	2.98	(1.23)	12.10
TMO	1.43	(0.12)	0.00	(1.01)	0.00	0.00	2.51	(3.61)	12.65
SPGI	0.72	0.17	0.05	5.20	0.63	(0.82)	2.06	(1.20)	5.01
EW	0.87	0.10	(0.01)	0.75	0.82	(1.05)	1.66	(1.72)	8.85
DHR	1.35	(0.04)	0.00	(0.25)	0.00	0.00	2.26	(3.47)	11.39

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC