Bunzl Plc Correlations

BZLFY Stock

USD 44.08 0.09 0.20%

The current 90-days correlation between Bunzl plc and Element Solutions is 0.09 (i.e., Significant diversification). The correlation of Bunzl Plc 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.

Bunzl Plc Correlation With Market

Modest diversification

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

The ability to find closely correlated positions to Bunzl Plc could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bunzl Plc 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 Bunzl Plc - 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 Bunzl plc to buy it.

Moving together with Bunzl Pink Sheet

0.63	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.7	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.67	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Bunzl Pink Sheet

0.68	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.57	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.53	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.5	HPQ	HP Inc	Pair Corr
0.48	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.39	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.39	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.37	WMT	Walmart Aggressive Push	Pair Corr
0.36	MSB	Mesabi Trust	Pair Corr
0.31	NTNX	Nutanix Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ESI	OEC	MTX	NGVT	HWKN	CRKN	CMT	BCPC	NEU	REX
ESI		0.01	0.77	0.81	-0.13	-0.62	-0.41	0.68	0.12	0.52	ESI
OEC	0.01		0.22	0.26	0.58	0.33	0.59	0.44	0.34	0.16	OEC
MTX	0.77	0.22		0.61	0.31	-0.51	-0.32	0.63	-0.12	0.64	MTX
NGVT	0.81	0.26	0.61		-0.14	-0.5	-0.07	0.84	0.31	0.46	NGVT
HWKN	-0.13	0.58	0.31	-0.14		0.1	0.19	0.12	-0.29	0.18	HWKN
CRKN	-0.62	0.33	-0.51	-0.5	0.1		0.61	-0.4	0.28	-0.19	CRKN
CMT	-0.41	0.59	-0.32	-0.07	0.19	0.61		0.12	0.56	-0.02	CMT
BCPC	0.68	0.44	0.63	0.84	0.12	-0.4	0.12		0.31	0.59	BCPC
NEU	0.12	0.34	-0.12	0.31	-0.29	0.28	0.56	0.31		0.07	NEU
REX	0.52	0.16	0.64	0.46	0.18	-0.19	-0.02	0.59	0.07		REX
	ESI	OEC	MTX	NGVT	HWKN	CRKN	CMT	BCPC	NEU	REX

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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

BCPC	+ 0.84	NGVT
NGVT	+ 0.81	ESI
MTX	+ 0.77	ESI
BCPC	+ 0.68	ESI
REX	+ 0.64	MTX
BCPC	+ 0.63	MTX

High negative correlations

CRKN	- 0.62	ESI
CRKN	- 0.51	MTX
CRKN	- 0.5	NGVT
CMT	- 0.41	ESI
BCPC	- 0.4	CRKN
CMT	- 0.32	MTX

Risk-Adjusted Indicators

There is a big difference between Bunzl Pink Sheet performing well and Bunzl Plc 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 Bunzl Plc'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
ESI	1.29	0.08	0.06	0.20	1.30	(1.55)	3.77	(1.95)	11.06
OEC	2.21	(0.19)	(0.01)	0.04	2.56	(2.18)	5.81	(3.84)	15.71
MTX	1.31	(0.06)	0.04	0.09	1.30	(1.49)	2.94	(2.51)	11.90
NGVT	3.02	0.21	0.12	0.20	2.79	(3.69)	8.28	(3.76)	21.33
HWKN	1.68	0.04	(0.02)	0.24	2.51	(1.62)	3.27	(3.65)	12.56
CRKN	4.36	(1.66)	0.00	(7.00)	0.00	0.00	7.87	(10.59)	35.24
CMT	1.92	(0.25)	(0.06)	0.00	2.14	(2.11)	3.97	(3.59)	13.85
BCPC	1.11	(0.02)	0.00	0.10	1.26	(1.25)	2.64	(1.99)	8.32
NEU	1.14	(0.19)	0.00	(0.02)	0.00	0.00	2.47	(1.93)	10.57
REX	1.58	(0.18)	(0.06)	0.00	2.19	(1.63)	3.13	(3.71)	10.87

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bunzl Plc without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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