AmerisourceBergen Correlations
| ABG Stock | EUR 242.20 2.95 1.23% |
The current 90-days correlation between AmerisourceBergen and Apple Inc is 0.22 (i.e., Modest 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
Modest diversification
The correlation between AmerisourceBergen and DJI is 0.22 (i.e., Modest 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 |
The ability to find closely correlated positions to AmerisourceBergen could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace AmerisourceBergen 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 AmerisourceBergen - 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 AmerisourceBergen to buy it.
Moving together with AmerisourceBergen Stock
| 0.64 | LLD2 | Lloyds Banking Group | PairCorr |
| 0.69 | FHL | Federal Home Loan | PairCorr |
| 0.82 | W8V | Bank of China Limited Earnings Call This Week | PairCorr |
| 0.69 | E908 | Lyxor 1 | PairCorr |
| 0.66 | DBPE | Xtrackers LevDAX | PairCorr |
Moving against AmerisourceBergen Stock
| 0.77 | SID | State Bank | PairCorr |
| 0.69 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.58 | APC | Apple Inc | PairCorr |
| 0.57 | APC | Apple Inc | PairCorr |
| 0.57 | APC | Apple Inc | PairCorr |
| 0.53 | APC | Apple Inc | PairCorr |
| 0.48 | MSF | Microsoft | PairCorr |
| 0.48 | MSF | Microsoft | PairCorr |
| 0.47 | MSF | Microsoft | PairCorr |
| 0.47 | MSF | Microsoft | PairCorr |
| 0.47 | MSF | Microsoft | PairCorr |
| 0.41 | OIX | ORIX | PairCorr |
Related Correlations Analysis
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| APC | 1.23 | (0.25) | 0.00 | (1.99) | 0.00 | 1.74 | 9.09 | |||
| APC | 1.27 | (0.24) | 0.00 | (0.64) | 0.00 | 2.12 | 9.67 | |||
| APC | 1.24 | (0.28) | 0.00 | 6.93 | 0.00 | 2.13 | 10.38 | |||
| APC | 1.35 | (0.24) | 0.00 | (0.88) | 0.00 | 3.16 | 11.01 | |||
| MSF | 1.05 | (0.28) | 0.00 | 3.33 | 0.00 | 1.96 | 10.19 | |||
| MSF | 1.15 | (0.23) | 0.00 | (0.50) | 0.00 | 2.13 | 10.42 | |||
| MSF | 1.13 | (0.23) | 0.00 | (0.50) | 0.00 | 2.34 | 10.90 | |||
| MSF | 1.15 | (0.24) | 0.00 | (0.69) | 0.00 | 1.76 | 12.60 | |||
| MSF | 1.10 | (0.24) | 0.00 | (0.61) | 0.00 | 1.77 | 10.50 | |||
| AMZ | 1.25 | (0.26) | 0.00 | (0.45) | 0.00 | 2.39 | 7.53 |
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