AmerisourceBergen Correlations
| ABCDelisted Stock | USD 191.45 1.55 0.80% |
The current 90-days correlation between AmerisourceBergen and Cardinal Health is -0.18 (i.e., Good diversification). The correlation of AmerisourceBergen 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.
AmerisourceBergen Correlation With Market
Good diversification
The correlation between AmerisourceBergen and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AmerisourceBergen and DJI in the same portfolio, assuming nothing else is changed.
AmerisourceBergen |
Moving together with AmerisourceBergen Stock
| 0.79 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.78 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.65 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.92 | CSCO | Cisco Systems | PairCorr |
| 0.86 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.87 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.72 | HPQ | HP Inc | PairCorr |
| 0.87 | WMT | Walmart Aggressive Push | PairCorr |
| 0.82 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.85 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
Moving against AmerisourceBergen Stock
| 0.93 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.91 | EC | Ecopetrol SA ADR | PairCorr |
| 0.79 | HYMTF | Hyundai Motor | PairCorr |
| 0.79 | TLK | Telkom Indonesia Tbk | PairCorr |
| 0.78 | SHG | Shinhan Financial | PairCorr |
| 0.71 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.69 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.65 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.59 | WF | Woori Financial Group | PairCorr |
| 0.57 | TCHH | Trustcash Holdings | PairCorr |
| 0.37 | VFSWW | VinFast Auto | PairCorr |
| 0.36 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between AmerisourceBergen Stock performing well and AmerisourceBergen 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 AmerisourceBergen'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CAH | 1.04 | 0.13 | 0.06 | 0.30 | 1.17 | 2.12 | 10.66 | |||
| HSIC | 1.24 | 0.05 | (0.01) | 0.23 | 1.41 | 3.24 | 8.94 | |||
| OMI | 2.65 | (0.60) | 0.00 | (0.12) | 0.00 | 5.11 | 21.58 | |||
| PDCO | 1.72 | (0.39) | 0.00 | (0.21) | 0.00 | 2.96 | 14.14 | |||
| MCK | 1.26 | 0.12 | 0.04 | 0.26 | 2.04 | 2.36 | 12.91 | |||
| ZYXI | 2.28 | (0.09) | 0.00 | 0.05 | 3.05 | 4.50 | 18.02 | |||
| EDAP | 3.27 | (0.75) | 0.00 | (0.99) | 0.00 | 6.27 | 22.96 |
AmerisourceBergen Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with AmerisourceBergen stock to make a market-neutral strategy. Peer analysis of AmerisourceBergen could also be used in its relative valuation, which is a method of valuing AmerisourceBergen by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in AmerisourceBergen?
Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.