Eli Lilly Return On Equity vs. Number Of Shares Shorted
| LLY Stock | USD 1,080 5.68 0.53% |
Return On Equity | First Reported 2010-12-31 | Previous Quarter 0.67 | Current Value 0.71 | Quarterly Volatility 0.72700891 |
| Current Value | Last Year | Change From Last Year | 10 Year Trend | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Gross Profit Margin | 0.62 | 0.73 |
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| Operating Profit Margin | 0.22 | 0.35 |
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| Pretax Profit Margin | 0.26 | 0.32 |
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For Eli Lilly profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Eli Lilly to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well Eli Lilly and utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between Eli Lilly's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of Eli Lilly and over time as well as its relative position and ranking within its peers.
Eli Lilly's Revenue Breakdown by Earning Segment
Check out Correlation Analysis.
Eli Lilly Revenue Breakdown by Earning Segment
By analyzing Eli Lilly's earnings estimates, investors can diagnose different trends across Eli Lilly's analyst sentiment over time as well as compare current estimates against different timeframes.
Is Pharmaceuticals space expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Eli Lilly. If investors know Eli will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Eli Lilly listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 4.804 | Dividend Share 5.8 | Earnings Share 20.42 | Revenue Per Share | Quarterly Revenue Growth 0.539 |
The market value of Eli Lilly is measured differently than its book value, which is the value of Eli that is recorded on the company's balance sheet. Investors also form their own opinion of Eli Lilly's value that differs from its market value or its book value, called intrinsic value, which is Eli Lilly's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Eli Lilly's market value can be influenced by many factors that don't directly affect Eli Lilly's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Eli Lilly's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eli Lilly is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eli Lilly's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
Eli Lilly Number Of Shares Shorted vs. Return On Equity Fundamental Analysis
Comparative valuation techniques use various fundamental indicators to help in determining Eli Lilly's current stock value. Our valuation model uses many indicators to compare Eli Lilly value to that of its competitors to determine the firm's financial worth. Eli Lilly and is rated second overall in return on equity category among its peers. It is rated below average in number of shares shorted category among its peers making about 6,787,342 of Number Of Shares Shorted per Return On Equity. At this time, Eli Lilly's Return On Equity is fairly stable compared to the past year. The reason why the comparable model can be used in almost all circumstances is due to the vast number of multiples that can be utilized, such as the price-to-earnings (P/E), price-to-book (P/B), price-to-sales (P/S), price-to-cash flow (P/CF), and many others. The P/E ratio is the most commonly used of these ratios because it focuses on the Eli Lilly's earnings, one of the primary drivers of an investment's value.Eli Lilly's Earnings Breakdown by Geography
Eli Number Of Shares Shorted vs. Return On Equity
Return on Equity or ROE tells company stockholders how effectually their money is being utilized or reinvested. It is a useful ratio when analyzing company profitability or the management effectiveness given the capital invested by the shareholders. ROE shows how efficiently a company utilizes investments to generate income.
Eli Lilly |
| = | 0.96 |
For most industries, Return on Equity between 10% and 30% are considered desirable to provide dividends to owners and have funds for the future growth of the company. Investors should be very careful using ROE as the only efficiency indicator because ROE can be high if a company is heavily leveraged.
Number of Shares Shorted is the total amount of shares that are currently sold short by investors. When a stock is sold short, the short seller assumes the responsibility of repurchasing the stock at a lower price. The speculator will make money if the stock goes down in price or will experience a loss if the stock price goes up.
Eli Lilly |
| = | 6.55 M |
If a large number of investors decide to short sell an equity instrument within a small period of time, their combined action can significantly affect the price of the stock.
Eli Number Of Shares Shorted Comparison
Eli Lilly is currently under evaluation in number of shares shorted category among its peers.
Eli Lilly Profitability Projections
The most important aspect of a successful company is its ability to generate a profit. For investors in Eli Lilly, profitability is also one of the essential criteria for including it into their portfolios because, without profit, Eli Lilly will eventually generate negative long term returns. The profitability progress is the general direction of Eli Lilly's change in net profit over the period of time. It can combine multiple indicators of Eli Lilly, where stable trends show no significant progress. An accelerating trend is seen as positive, while a decreasing one is unfavorable. A rising trend means that profits are rising, and operational efficiency may be rising as well. A decreasing trend is a sign of poor performance and may indicate upcoming losses.
| Last Reported | Projected for Next Year | ||
| Accumulated Other Comprehensive Income | -3.9 B | -4.1 B | |
| Operating Income | 20.1 B | 21.1 B | |
| Income Before Tax | 14.6 B | 15.3 B | |
| Total Other Income Expense Net | -4.3 B | -4.1 B | |
| Net Income | 12.2 B | 12.8 B | |
| Income Tax Expense | 2.4 B | 2.5 B | |
| Net Income Applicable To Common Shares | 12.2 B | 12.8 B | |
| Net Income From Continuing Ops | 12.2 B | 12.8 B | |
| Non Operating Income Net Other | -288.8 M | -274.4 M | |
| Interest Income | 201.5 M | 203.6 M | |
| Net Interest Income | -544.9 M | -517.6 M | |
| Change To Netincome | -601.6 M | -571.5 M | |
| Net Income Per Share | 10.58 | 11.11 | |
| Income Quality | 0.96 | 1.01 | |
| Net Income Per E B T | 0.75 | 0.63 |
Eli Profitability Driver Comparison
Profitability drivers are factors that can directly affect your investment outlook on Eli Lilly. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of Eli Lilly position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the Eli Lilly's important profitability drivers and their relationship over time.
Eli Lilly Earnings Estimation Breakdown
The calculation of Eli Lilly's earning per share is based on the data from the past 12 consecutive months, used for reporting the company's financial figures. The next projected EPS of Eli Lilly is estimated to be 7.4556 with the future projection ranging from a low of 6.53 to a high of 9.3. Please be aware that this consensus of annual earnings estimates for Eli Lilly and is based on EPS before non-recurring items and includes expenses related to employee stock options.Last Reported EPS
6.53 Lowest | Expected EPS | 9.30 Highest |
Eli Lilly Earnings Projection Consensus
Suppose the current estimates of Eli Lilly's value are higher than the current market price of the Eli Lilly stock. In this case, investors may conclude that Eli Lilly is overpriced and will exhibit bullish sentiment. On the other hand, if the present value is lower than the stock price, analysts may conclude that the market undervalues the equity. These scenarios may suggest that the market is not as efficient as it should be at the estimation time, and Eli Lilly's stock will quickly adjusts to the new information provided by the consensus estimate.
| Number of Analysts | Historical Accuracy | Last Reported EPS | Estimated EPS for 31st of March 2026 | Current EPS (TTM) | |
| 30 | 81.92% | 0.0 | 7.4556 | 20.42 |
Eli Lilly Earnings per Share Projection vs Actual
Actual Earning per Share of Eli Lilly refers to what the company shows during its earnings calls or quarterly reports. The Expected EPS is what analysts covering Eli Lilly and predict the company's earnings will be in the future. The higher the earnings per share of Eli Lilly, the better is its profitability. While calculating the Earning per Share, we use the weighted ratio, as the number of shares outstanding can change over time.Eli Lilly Estimated Months Earnings per Share
For an investor who is primarily interested in generating an income out of investing in entities such as Eli Lilly, the EPS ratio can tell if the company is intending to increase its current dividend. Although EPS is an essential tool for investors, it should not be used in isolation. EPS of Eli Lilly should always be considered in relation to other companies to make a more educated investment decision.Eli Quarterly Analyst Estimates and Surprise Metrics
Earnings surprises can significantly impact Eli Lilly's stock price both in the short term and over time. Negative earnings surprises usually result in a price decline. However, it has been seen that positive earnings surprises lead to an immediate rise in a stock's price and a gradual increase over time. This is why we often hear news about some companies beating earning projections. Financial analysts spend a large amount of time predicting earnings per share (EPS) along with other important future indicators. Many analysts use forecasting models, management guidance, and additional fundamental information to derive an EPS estimate.
| Reported | Fiscal Date | Estimated EPS | Reported EPS | Surprise | |||
|---|---|---|---|---|---|---|---|
null | null | null | null | null | 0 | ||
2025-10-30 | 2025-09-30 | 6.37 | 7.02 | 0.65 | 10 | ||
2025-08-07 | 2025-06-30 | 5.59 | 6.31 | 0.72 | 12 | ||
2025-05-01 | 2025-03-31 | 3.54 | 3.34 | -0.2 | 5 | ||
2025-02-06 | 2024-12-31 | 5.0668 | 5.32 | 0.2532 | 4 | ||
2024-10-30 | 2024-09-30 | 1.47 | 1.18 | -0.29 | 19 | ||
2024-08-08 | 2024-06-30 | 2.6 | 3.92 | 1.32 | 50 | ||
2024-04-30 | 2024-03-31 | 2.46 | 2.58 | 0.12 | 4 | ||
2024-02-06 | 2023-12-31 | 2.22 | 2.49 | 0.27 | 12 | ||
2023-11-02 | 2023-09-30 | -0.13 | 0.1 | 0.23 | 176 | ||
2023-08-08 | 2023-06-30 | 1.98 | 2.11 | 0.13 | 6 | ||
2023-04-27 | 2023-03-31 | 1.73 | 1.62 | -0.11 | 6 | ||
2023-02-02 | 2022-12-31 | 1.78 | 2.09 | 0.31 | 17 | ||
2022-11-01 | 2022-09-30 | 1.92 | 1.98 | 0.06 | 3 | ||
2022-08-04 | 2022-06-30 | 1.69 | 1.25 | -0.44 | 26 | ||
2022-04-28 | 2022-03-31 | 2.32 | 2.77 | 0.45 | 19 | ||
2022-02-03 | 2021-12-31 | 2.46 | 2.49 | 0.03 | 1 | ||
2021-10-26 | 2021-09-30 | 1.98 | 1.94 | -0.04 | 2 | ||
2021-08-03 | 2021-06-30 | 1.89 | 1.87 | -0.02 | 1 | ||
2021-04-27 | 2021-03-31 | 2.13 | 1.87 | -0.26 | 12 | ||
2021-01-29 | 2020-12-31 | 2.35 | 2.75 | 0.4 | 17 | ||
2020-10-27 | 2020-09-30 | 1.71 | 1.54 | -0.17 | 9 | ||
2020-07-30 | 2020-06-30 | 1.56 | 1.89 | 0.33 | 21 | ||
2020-04-23 | 2020-03-31 | 1.48 | 1.75 | 0.27 | 18 | ||
2020-01-30 | 2019-12-31 | 1.52 | 1.73 | 0.21 | 13 | ||
2019-10-23 | 2019-09-30 | 1.41 | 1.48 | 0.07 | 4 | ||
2019-07-30 | 2019-06-30 | 1.45 | 1.5 | 0.05 | 3 | ||
2019-04-30 | 2019-03-31 | 1.31 | 1.33 | 0.02 | 1 | ||
2019-02-06 | 2018-12-31 | 1.34 | 1.33 | -0.01 | 0 | ||
2018-11-06 | 2018-09-30 | 1.35 | 1.39 | 0.04 | 2 | ||
2018-07-24 | 2018-06-30 | 1.3 | 1.5 | 0.2 | 15 | ||
2018-04-24 | 2018-03-31 | 1.13 | 1.34 | 0.21 | 18 | ||
2018-01-31 | 2017-12-31 | 1.07 | 1.14 | 0.07 | 6 | ||
2017-10-24 | 2017-09-30 | 1.03 | 1.05 | 0.02 | 1 | ||
2017-07-25 | 2017-06-30 | 1.05 | 1.11 | 0.06 | 5 | ||
2017-04-25 | 2017-03-31 | 0.96 | 0.98 | 0.02 | 2 | ||
2017-01-31 | 2016-12-31 | 0.98 | 0.95 | -0.03 | 3 | ||
2016-10-25 | 2016-09-30 | 0.96 | 0.88 | -0.08 | 8 | ||
2016-07-26 | 2016-06-30 | 0.86 | 0.86 | 0.0 | 0 | ||
2016-04-26 | 2016-03-31 | 0.85 | 0.83 | -0.02 | 2 | ||
2016-01-28 | 2015-12-31 | 0.78 | 0.78 | 0.0 | 0 | ||
2015-10-22 | 2015-09-30 | 0.76 | 0.89 | 0.13 | 17 | ||
2015-07-23 | 2015-06-30 | 0.74 | 0.9 | 0.16 | 21 | ||
2015-04-23 | 2015-03-31 | 0.77 | 0.87 | 0.1 | 12 | ||
2015-01-30 | 2014-12-31 | 0.73 | 0.75 | 0.02 | 2 | ||
2014-10-23 | 2014-09-30 | 0.67 | 0.66 | -0.01 | 1 | ||
2014-07-24 | 2014-06-30 | 0.65 | 0.68 | 0.03 | 4 | ||
2014-04-24 | 2014-03-31 | 0.7 | 0.7 | 0.0 | 0 | ||
2014-01-30 | 2013-12-31 | 0.74 | 0.74 | 0.0 | 0 | ||
2013-10-23 | 2013-09-30 | 1.04 | 1.11 | 0.07 | 6 | ||
2013-07-24 | 2013-06-30 | 1 | 1.16 | 0.16 | 16 | ||
2013-04-24 | 2013-03-31 | 1.05 | 1.14 | 0.09 | 8 | ||
2013-01-29 | 2012-12-31 | 0.78 | 0.85 | 0.07 | 8 | ||
2012-10-24 | 2012-09-30 | 0.83 | 0.79 | -0.04 | 4 | ||
2012-07-25 | 2012-06-30 | 0.77 | 0.83 | 0.06 | 7 | ||
2012-04-25 | 2012-03-31 | 0.78 | 0.92 | 0.14 | 17 | ||
2012-01-31 | 2011-12-31 | 0.81 | 0.87 | 0.06 | 7 | ||
2011-10-20 | 2011-09-30 | 1.13 | 1.13 | 0.0 | 0 | ||
2011-07-21 | 2011-06-30 | 1.18 | 1.18 | 0.0 | 0 | ||
2011-04-18 | 2011-03-31 | 1.17 | 1.24 | 0.07 | 5 | ||
2011-01-27 | 2010-12-31 | 1.1 | 1.11 | 0.01 | 0 | ||
2010-10-21 | 2010-09-30 | 1.15 | 1.21 | 0.06 | 5 | ||
2010-07-22 | 2010-06-30 | 1.1 | 1.24 | 0.14 | 12 | ||
2010-04-19 | 2010-03-31 | 1.1 | 1.18 | 0.08 | 7 | ||
2010-01-28 | 2009-12-31 | 0.92 | 0.91 | -0.01 | 1 | ||
2009-10-21 | 2009-09-30 | 1.02 | 1.2 | 0.18 | 17 | ||
2009-07-22 | 2009-06-30 | 1.02 | 1.12 | 0.1 | 9 | ||
2009-04-20 | 2009-03-31 | 0.99 | 1.2 | 0.21 | 21 | ||
2009-01-29 | 2008-12-31 | 1.05 | 1.07 | 0.02 | 1 | ||
2008-10-23 | 2008-09-30 | 1.02 | 1.04 | 0.02 | 1 | ||
2008-07-24 | 2008-06-30 | 1 | 0.99 | -0.01 | 1 | ||
2008-04-21 | 2008-03-31 | 0.96 | 0.92 | -0.04 | 4 | ||
2008-01-29 | 2007-12-31 | 0.89 | 0.9 | 0.01 | 1 | ||
2007-10-18 | 2007-09-30 | 0.87 | 0.91 | 0.04 | 4 | ||
2007-07-24 | 2007-06-30 | 0.82 | 0.9 | 0.08 | 9 | ||
2007-04-16 | 2007-03-31 | 0.79 | 0.84 | 0.05 | 6 | ||
2007-01-31 | 2006-12-31 | 0.82 | 0.85 | 0.03 | 3 | ||
2006-10-19 | 2006-09-30 | 0.79 | 0.8 | 0.01 | 1 | ||
2006-07-21 | 2006-06-30 | 0.75 | 0.76 | 0.01 | 1 | ||
2006-04-20 | 2006-03-31 | 0.75 | 0.77 | 0.02 | 2 | ||
2006-01-26 | 2005-12-31 | 0.78 | 0.8 | 0.02 | 2 | ||
2005-10-20 | 2005-09-30 | 0.71 | 0.73 | 0.02 | 2 | ||
2005-07-21 | 2005-06-30 | 0.67 | 0.67 | 0.0 | 0 | ||
2005-04-18 | 2005-03-31 | 0.66 | 0.68 | 0.02 | 3 | ||
2005-01-26 | 2004-12-31 | 0.74 | 0.75 | 0.01 | 1 | ||
2004-10-21 | 2004-09-30 | 0.68 | 0.69 | 0.01 | 1 | ||
2004-07-22 | 2004-06-30 | 0.68 | 0.68 | 0.0 | 0 | ||
2004-04-19 | 2004-03-31 | 0.66 | 0.7 | 0.04 | 6 | ||
2004-01-29 | 2003-12-31 | 0.67 | 0.67 | 0.0 | 0 | ||
2003-10-22 | 2003-09-30 | 0.66 | 0.66 | 0.0 | 0 | ||
2003-07-24 | 2003-06-30 | 0.6 | 0.64 | 0.04 | 6 | ||
2003-04-22 | 2003-03-31 | 0.58 | 0.61 | 0.03 | 5 | ||
2003-01-23 | 2002-12-31 | 0.68 | 0.68 | 0.0 | 0 | ||
2002-10-23 | 2002-09-30 | 0.68 | 0.68 | 0.0 | 0 | ||
2002-07-18 | 2002-06-30 | 0.61 | 0.61 | 0.0 | 0 | ||
2002-04-15 | 2002-03-31 | 0.58 | 0.58 | 0.0 | 0 | ||
2002-01-24 | 2001-12-31 | 0.6 | 0.6 | 0.0 | 0 | ||
2001-10-18 | 2001-09-30 | 0.66 | 0.66 | 0.0 | 0 | ||
2001-07-19 | 2001-06-30 | 0.74 | 0.76 | 0.02 | 2 | ||
2001-04-16 | 2001-03-31 | 0.73 | 0.74 | 0.01 | 1 | ||
2001-01-25 | 2000-12-31 | 0.7 | 0.7 | 0.0 | 0 | ||
2000-10-19 | 2000-09-30 | 0.71 | 0.71 | 0.0 | 0 | ||
2000-07-20 | 2000-06-30 | 0.6 | 0.61 | 0.01 | 1 | ||
2000-04-17 | 2000-03-31 | 0.61 | 0.63 | 0.02 | 3 | ||
2000-01-27 | 1999-12-31 | 0.61 | 0.61 | 0.0 | 0 | ||
1999-10-20 | 1999-09-30 | 0.62 | 0.62 | 0.0 | 0 | ||
1999-07-21 | 1999-06-30 | 0.51 | 0.52 | 0.01 | 1 | ||
1999-04-19 | 1999-03-31 | 0.53 | 0.53 | 0.0 | 0 | ||
1999-01-28 | 1998-12-31 | 0.51 | 0.5 | -0.01 | 1 | ||
1998-10-21 | 1998-09-30 | 0.51 | 0.53 | 0.02 | 3 | ||
1998-07-22 | 1998-06-30 | 0.43 | 0.45 | 0.02 | 4 | ||
1998-04-20 | 1998-03-31 | 0.46 | 0.47 | 0.01 | 2 | ||
1998-01-29 | 1997-12-31 | 0.42 | 0.41 | -0.01 | 2 | ||
1997-10-20 | 1997-09-30 | 0.4 | 0.41 | 0.01 | 2 | ||
1997-07-23 | 1997-06-30 | 0.38 | 0.38 | 0.0 | 0 | ||
1997-04-21 | 1997-03-31 | 0.4 | 0.41 | 0.01 | 2 | ||
1997-01-27 | 1996-12-31 | 0.34 | 0.34 | 0.0 | 0 | ||
1996-10-22 | 1996-09-30 | 0.32 | 0.38 | 0.06 | 18 | ||
1996-07-16 | 1996-06-30 | 0.32 | 0.32 | 0.0 | 0 | ||
1996-04-15 | 1996-03-31 | 0.36 | 0.36 | 0.0 | 0 |
Use Eli Lilly in pair-trading
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Eli Lilly position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Eli Lilly will appreciate offsetting losses from the drop in the long position's value.Eli Lilly Pair Trading
Eli Lilly and Pair Trading Analysis
The ability to find closely correlated positions to Eli Lilly could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eli Lilly 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 Eli Lilly - 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 Eli Lilly and to buy it.
The correlation of Eli Lilly 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eli Lilly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eli Lilly moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Eli Lilly can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Use Investing Themes to Complement your Eli Lilly position
In addition to having Eli Lilly in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
Run Moderate Funds Thematic Idea Now
Moderate Funds
Funds or Etfs that combine stocks, bonds and money market instruments to get modest capital appreciation over time. The Moderate Funds theme has 42 constituents at this time.
You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Moderate Funds Theme or any other thematic opportunities.
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Additional Tools for Eli Stock Analysis
When running Eli Lilly's price analysis, check to measure Eli Lilly's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Eli Lilly is operating at the current time. Most of Eli Lilly's value examination focuses on studying past and present price action to predict the probability of Eli Lilly's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Eli Lilly's price. Additionally, you may evaluate how the addition of Eli Lilly to your portfolios can decrease your overall portfolio volatility.