Merck Correlations

6MK Stock

EUR 88.80 1.20 1.37%

The current 90-days correlation between Merck and COFFEE HOLDING is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Merck moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Merck Co moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Merck Correlation With Market

Significant diversification

The correlation between Merck Co and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Merck Co and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Merck 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 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 - 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 Co to buy it.

Moving together with Merck Stock

0.71	APC	Apple Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.75	APC	Apple Inc	Pair Corr
0.74	APC	Apple Inc	Pair Corr
0.73	APC	Apple Inc	Pair Corr
0.72	APC	Apple Inc	Pair Corr
0.73	TCID	Telkom Indonesia Tbk	Pair Corr
0.78	PTI	Perusahaan Perseroan	Pair Corr
0.76	TCID	Telkom Indonesia Tbk	Pair Corr
0.74	TCID	Telkom Indonesia Tbk	Pair Corr
0.87	AMG	Amgen Inc	Pair Corr
0.61	4H7	TROPHY GAMES DEV	Pair Corr
0.85	PGZ	Healius Limited	Pair Corr
0.77	KGHA	KGHM Polska Miedz	Pair Corr
0.68	TWH	Twilio Inc	Pair Corr
0.74	ZWS	Telia Lietuva AB	Pair Corr
0.67	T1I	Tamburi Investment	Pair Corr
0.65	NSE	Nomura Holdings	Pair Corr
0.73	GTR	GOODYEAR T RUBBER	Pair Corr
0.82	8RR	ROCKHAVEN RESOURCES	Pair Corr
0.96	IDP	Biogen Inc	Pair Corr
0.84	NYT	NEW YORK TIMES	Pair Corr
0.88	S92	SMA SOLAR TECH	Pair Corr

Moving against Merck Stock

0.75	MSF	Microsoft	Pair Corr
0.74	MSF	Microsoft	Pair Corr
0.73	MSF	Microsoft	Pair Corr
0.73	MSF	Microsoft	Pair Corr

Related Correlations Analysis

	E6U	AZU	8G7	L24	T4H	CFH	0QN	6CF
E6U		-0.02	0.0	-0.11	-0.8	0.11	-0.3	-0.19	E6U
AZU	-0.02		0.0	-0.41	0.01	0.59	0.59	0.0	AZU
8G7	0.0	0.0		0.0	0.0	0.0	0.0	0.0	8G7
L24	-0.11	-0.41	0.0		-0.05	-0.41	-0.35	0.15	L24
T4H	-0.8	0.01	0.0	-0.05		-0.19	0.12	0.37	T4H
CFH	0.11	0.59	0.0	-0.41	-0.19		0.64	-0.48	CFH
0QN	-0.3	0.59	0.0	-0.35	0.12	0.64		-0.3	0QN
6CF	-0.19	0.0	0.0	0.15	0.37	-0.48	-0.3		6CF
	E6U	AZU	8G7	L24	T4H	CFH	0QN	6CF

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

0QN	+ 0.64	CFH
CFH	+ 0.59	AZU
0QN	+ 0.59	AZU
6CF	+ 0.37	T4H
6CF	+ 0.15	L24
0QN	+ 0.12	T4H

High negative correlations

T4H	- 0.8	E6U
6CF	- 0.48	CFH
CFH	- 0.41	L24
L24	- 0.41	AZU
0QN	- 0.35	L24
6CF	- 0.3	0QN

Risk-Adjusted Indicators

There is a big difference between Merck Stock performing well and Merck 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'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
E6U	2.22	(0.46)	0.00	(0.46)	0.00	0.00	4.49	(5.11)	15.05
AZU	0.59	0.03	(0.04)	0.35	0.74	(0.62)	1.34	(1.36)	3.07
8G7	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
L24	1.30	0.09	(0.01)	(0.06)	1.43	(3.12)	3.64	(3.51)	14.43
T4H	2.31	0.56	0.19	2.77	2.14	(3.04)	4.71	(3.85)	28.09
CFH	2.58	(0.05)	0.00	0.16	0.00	0.00	4.76	(6.00)	15.08
0QN	1.71	(0.10)	0.00	(0.14)	0.00	0.00	4.23	(3.99)	11.90
6CF	1.27	0.00	(0.02)	0.07	1.47	(1.65)	2.62	(2.55)	7.99

Be your own money manager

Our tools can tell you how much better you can do entering a position in Merck 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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