Alcon AG Correlations

ALC Stock

USD 77.60 1.21 1.54%

The current 90-days correlation between Alcon AG and ResMed Inc is 0.47 (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

Very weak diversification

The correlation between Alcon AG and DJI is 0.51 (i.e., Very weak 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.

Build AI portfolio with Alcon Stock

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 board of governors.

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

Moving together with Alcon Stock

0.82	DHR	Danaher	Pair Corr
0.72	AMPH	Amphastar P	Pair Corr
0.86	FTV	Fortive Corp	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.77	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.68	AXP	American Express	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.77	CSCO	Cisco Systems	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.71	BAC	Bank of America	Pair Corr

Moving against Alcon Stock

0.78	OM	Outset Medical	Pair Corr
0.59	HPQ	HP Inc	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.42	GOOD	Gladstone Commercial	Pair Corr
0.37	T	ATT Inc	Pair Corr

Related Correlations Analysis

	RMD	IQV	A	GEHC	HUM	BDX	MTD	CAH	WST	INSM
RMD		-0.72	-0.18	-0.4	0.54	-0.11	-0.68	-0.87	-0.14	-0.65	RMD
IQV	-0.72		0.45	0.68	-0.39	0.47	0.84	0.77	0.36	0.67	IQV
A	-0.18	0.45		-0.12	-0.3	-0.22	0.74	0.34	0.39	0.59	A
GEHC	-0.4	0.68	-0.12		-0.02	0.65	0.36	0.42	0.29	0.26	GEHC
HUM	0.54	-0.39	-0.3	-0.02		-0.23	-0.39	-0.72	0.37	-0.64	HUM
BDX	-0.11	0.47	-0.22	0.65	-0.23		0.07	0.31	-0.24	0.18	BDX
MTD	-0.68	0.84	0.74	0.36	-0.39	0.07		0.75	0.5	0.71	MTD
CAH	-0.87	0.77	0.34	0.42	-0.72	0.31	0.75		0.0	0.83	CAH
WST	-0.14	0.36	0.39	0.29	0.37	-0.24	0.5	0.0		-0.04	WST
INSM	-0.65	0.67	0.59	0.26	-0.64	0.18	0.71	0.83	-0.04		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

MTD	+ 0.84	IQV
INSM	+ 0.83	CAH
CAH	+ 0.77	IQV
CAH	+ 0.75	MTD
MTD	+ 0.74	A
INSM	+ 0.71	MTD

High negative correlations

CAH	- 0.87	RMD
CAH	- 0.72	HUM
IQV	- 0.72	RMD
MTD	- 0.68	RMD
INSM	- 0.65	RMD
INSM	- 0.64	HUM

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	0.95	(0.21)	0.00	(0.24)	0.00	0.00	2.02	(2.26)	5.71
IQV	1.11	0.20	0.18	0.25	0.92	(1.34)	3.12	(2.03)	9.76
A	1.17	0.05	0.04	0.10	1.25	(1.28)	2.12	(2.21)	11.03
GEHC	1.30	0.07	0.05	0.10	1.72	(1.26)	2.34	(2.77)	6.97
HUM	2.09	(0.03)	0.00	0.04	2.76	(2.10)	3.99	(5.22)	16.60
BDX	0.96	0.02	0.01	0.07	0.97	(1.04)	2.14	(1.52)	6.92
MTD	1.24	0.16	0.13	0.23	1.06	(1.49)	3.78	(2.37)	7.75
CAH	0.98	0.43	0.35	(7.67)	0.55	(1.19)	2.05	(1.64)	18.07
WST	1.49	0.04	0.02	0.09	1.59	(1.69)	3.46	(2.89)	14.90
INSM	1.89	0.34	0.09	0.88	3.14	(2.05)	3.75	(2.38)	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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