Abbott Laboratories Correlations

ABT Stock

USD 117.76 0.50 0.43%

The current 90-days correlation between Abbott Laboratories and AbbVie Inc is 0.17 (i.e., Average diversification). The correlation of Abbott Laboratories 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.

Abbott Laboratories Correlation With Market

Modest diversification

The correlation between Abbott Laboratories 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 Abbott Laboratories and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Abbott Laboratories. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For more information on how to buy Abbott Stock please use our How to Invest in Abbott Laboratories guide.

Moving against Abbott Stock

0.59	AGL	agilon health	Pair Corr
0.51	FORA	Forian Inc	Pair Corr
0.5	EVH	Evolent Health	Pair Corr
0.49	IVP	Inspire Veterinary	Pair Corr
0.48	AMN	AMN Healthcare Services	Pair Corr
0.58	ME	23Andme Holding	Pair Corr
0.53	ATPC	Agape ATP	Pair Corr
0.51	CYRX	Cryoport	Pair Corr
0.51	VALN	Valneva SE ADR	Pair Corr
0.43	A	Agilent Technologies Earnings Call Today	Pair Corr
0.31	BACK	IMAC Holdings	Pair Corr
0.51	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.46	LLY	Eli Lilly Sell-off Trend	Pair Corr
0.39	HLN	Haleon plc	Pair Corr

Related Correlations Analysis

	ABBV	LLY	BMY	JNJ	MDT
ABBV		0.56	-0.58	0.61	0.51	ABBV
LLY	0.56		-0.84	0.83	0.43	LLY
BMY	-0.58	-0.84		-0.84	-0.3	BMY
JNJ	0.61	0.83	-0.84		0.54	JNJ
MDT	0.51	0.43	-0.3	0.54		MDT
	ABBV	LLY	BMY	JNJ	MDT

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

JNJ	+ 0.83	LLY
JNJ	+ 0.61	ABBV
LLY	+ 0.56	ABBV
MDT	+ 0.54	JNJ
MDT	+ 0.51	ABBV
MDT	+ 0.43	LLY

High negative correlations

JNJ	- 0.84	BMY
BMY	- 0.84	LLY
BMY	- 0.58	ABBV
MDT	- 0.3	BMY

Risk-Adjusted Indicators

There is a big difference between Abbott Stock performing well and Abbott Laboratories 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 Abbott Laboratories' 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
ABBV	1.02	(0.16)	0.00	(0.72)	0.00	0.00	1.56	(2.11)	18.93
LLY	1.27	(0.40)	0.00	(0.98)	0.00	0.00	2.35	(3.55)	9.21
BMY	1.31	0.33	0.15	3.11	1.18	(1.47)	2.23	(2.07)	14.39
JNJ	0.62	(0.09)	0.00	(0.28)	0.00	0.00	1.40	(1.42)	3.25
MDT	0.79	(0.07)	0.00	(0.05)	0.00	0.00	1.73	(1.80)	5.69

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

2024 Macroaxis LLC