Alcon AG Correlations

ALC Stock

USD 80.29 0.73 0.90%

The current 90-days correlation between Alcon AG and ResMed Inc is 0.55 (i.e., Very weak diversification). The correlation of Alcon AG 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.

Alcon AG Correlation With Market

Poor diversification

The correlation between Alcon AG and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alcon AG and DJI in the same portfolio, assuming nothing else is changed.

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

For information on how to trade Alcon Stock refer to our How to Trade Alcon Stock guide.

Moving together with Alcon Stock

0.84	DHR	Danaher Earnings Call This Week	Pair Corr
0.74	HAE	Haemonetics	Pair Corr
0.85	KRMD	Repro Med Systems	Pair Corr
0.91	LIVN	LivaNova PLC	Pair Corr
0.65	UFPT	UFP Technologies	Pair Corr
0.64	BIMT	Bitmis Corp	Pair Corr
0.76	KGC	Kinross Gold Aggressive Push	Pair Corr
0.64	FCAP	First Capital	Pair Corr
0.64	AEM	Agnico Eagle Mines	Pair Corr
0.78	AIZ	Assurant	Pair Corr
0.69	LMND	Lemonade	Pair Corr
0.74	PHI	PLDT Inc ADR	Pair Corr

Moving against Alcon Stock

0.71	IHC	Inspiration Healthcare	Pair Corr
0.7	STI	Solidion Technology Upward Rally	Pair Corr
0.61	STIM	Neuronetics	Pair Corr
0.47	BSX	Boston Scientific Corp	Pair Corr
0.46	NTI	Neurotech International	Pair Corr
0.31	NYXH	Nyxoah	Pair Corr
0.44	PNGM	Er Therapeutics	Pair Corr

Related Correlations Analysis

	RMD	IQV	A	GEHC	HUM	BDX	MTD	CAH	WST	INSM
RMD		0.16	0.32	-0.02	0.49	0.11	0.18	-0.53	0.19	-0.36	RMD
IQV	0.16		0.01	0.71	0.16	0.86	0.65	0.47	-0.21	-0.32	IQV
A	0.32	0.01		-0.26	-0.21	-0.28	0.6	-0.04	0.41	0.42	A
GEHC	-0.02	0.71	-0.26		0.3	0.71	0.31	0.25	0.06	-0.22	GEHC
HUM	0.49	0.16	-0.21	0.3		0.07	-0.04	-0.61	0.4	-0.72	HUM
BDX	0.11	0.86	-0.28	0.71	0.07		0.35	0.48	-0.41	-0.3	BDX
MTD	0.18	0.65	0.6	0.31	-0.04	0.35		0.44	0.2	-0.01	MTD
CAH	-0.53	0.47	-0.04	0.25	-0.61	0.48	0.44		-0.49	0.34	CAH
WST	0.19	-0.21	0.41	0.06	0.4	-0.41	0.2	-0.49		-0.02	WST
INSM	-0.36	-0.32	0.42	-0.22	-0.72	-0.3	-0.01	0.34	-0.02		INSM
	RMD	IQV	A	GEHC	HUM	BDX	MTD	CAH	WST	INSM

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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

BDX	+ 0.86	IQV
GEHC	+ 0.71	IQV
BDX	+ 0.71	GEHC
MTD	+ 0.65	IQV
MTD	+ 0.6	A
HUM	+ 0.49	RMD

High negative correlations

INSM	- 0.72	HUM
CAH	- 0.61	HUM
CAH	- 0.53	RMD
WST	- 0.49	CAH
WST	- 0.41	BDX
INSM	- 0.36	RMD

Risk-Adjusted Indicators

There is a big difference between Alcon Stock performing well and Alcon AG 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 Alcon AG'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
RMD	1.01	(0.16)	0.00	(0.14)	0.00	0.00	2.11	(2.26)	5.71
IQV	1.03	0.09	0.08	0.15	0.92	(1.26)	3.12	(1.65)	6.05
A	1.21	(0.17)	0.00	(0.06)	0.00	0.00	2.90	(2.58)	7.85
GEHC	1.46	(0.01)	0.01	0.06	1.80	(1.44)	2.88	(3.08)	7.77
HUM	1.73	(0.18)	0.00	(0.04)	0.00	0.00	3.83	(5.22)	12.22
BDX	1.03	0.02	0.02	0.09	0.94	(1.23)	2.93	(1.77)	6.92
MTD	1.16	(0.03)	(0.01)	0.04	1.27	(1.39)	2.80	(2.37)	7.98
CAH	1.05	0.45	0.39	(3.67)	0.42	(1.32)	2.69	(1.38)	18.07
WST	1.65	(0.29)	0.00	(0.17)	0.00	0.00	2.56	(3.58)	17.94
INSM	2.05	(0.06)	0.00	(1.20)	0.00	0.00	3.35	(3.65)	32.41

Alcon AG Corporate Management

Royce Bedward	General VP	Profile
Dieter Spaelti	Independent Director	Profile
Daniel Cravens	Vice Relations	Profile
Michael Onuscheck	President - Global Businesses and Innovation	Profile
Ed McGough	Senior Operations	Profile

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