Colgate Palmolive Correlations

CL Stock

USD 95.09 1.11 1.18%

The current 90-days correlation between Colgate Palmolive and Diageo PLC ADR is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Colgate Palmolive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Colgate Palmolive moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Colgate Palmolive Correlation With Market

Poor diversification

The correlation between Colgate Palmolive and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Colgate Palmolive and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Colgate Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Colgate Palmolive. 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 more information on how to buy Colgate Stock please use our How to buy in Colgate Stock guide.

Moving together with Colgate Stock

0.92	PG	Procter Gamble	Pair Corr
0.82	RKT	Reckitt Benckiser Split	Pair Corr
0.95	WDFC	WD 40 Company	Pair Corr
0.78	CENTA	Central Garden Pet	Pair Corr
0.99	CHD	Church Dwight Sell-off Trend	Pair Corr
0.95	CLX	Clorox	Pair Corr
0.69	ENR	Energizer Holdings	Pair Corr
0.9	ODC	Oil Dri	Pair Corr
0.9	SPB	Spectrum Brands Holdings	Pair Corr
0.74	MCB	McBride plc Earnings Call This Week	Pair Corr
0.79	CENT	Central Garden Pet	Pair Corr
0.8	EC	Ecopetrol SA ADR	Pair Corr
0.85	KEP	Korea Electric Power Earnings Call This Week	Pair Corr
0.8	BFS-PD	Saul Centers	Pair Corr
0.75	MDIBY	Mediobanca Banca	Pair Corr
0.88	PHXHF	PHX Energy Services Earnings Call This Week	Pair Corr
0.67	ADC	Agree Realty	Pair Corr
0.82	IDXG	Interpace Biosciences	Pair Corr
0.76	DTE	DTE Energy Sell-off Trend	Pair Corr
0.9	GLAPF	Glanbia plc Earnings Call This Week	Pair Corr

Moving against Colgate Stock

0.46	CABR	Caring Brands Common	Pair Corr
0.4	REYN	Reynolds Consumer	Pair Corr
0.57	PTAIF	PT Astra International	Pair Corr

Related Correlations Analysis

	DEO	KVUE	KMB	MNST	MDLZ	CHD	EL	KR	CCEP	CLX
DEO		0.65	0.64	0.42	0.84	0.75	-0.1	0.7	0.7	0.83	DEO
KVUE	0.65		0.6	0.78	0.74	0.87	0.42	0.47	0.82	0.86	KVUE
KMB	0.64	0.6		0.1	0.5	0.39	-0.35	0.85	0.76	0.53	KMB
MNST	0.42	0.78	0.1		0.72	0.87	0.69	0.14	0.54	0.76	MNST
MDLZ	0.84	0.74	0.5	0.72		0.89	0.2	0.59	0.67	0.93	MDLZ
CHD	0.75	0.87	0.39	0.87	0.89		0.44	0.43	0.75	0.94	CHD
EL	-0.1	0.42	-0.35	0.69	0.2	0.44		-0.43	0.05	0.32	EL
KR	0.7	0.47	0.85	0.14	0.59	0.43	-0.43		0.73	0.54	KR
CCEP	0.7	0.82	0.76	0.54	0.67	0.75	0.05	0.73		0.73	CCEP
CLX	0.83	0.86	0.53	0.76	0.93	0.94	0.32	0.54	0.73		CLX
	DEO	KVUE	KMB	MNST	MDLZ	CHD	EL	KR	CCEP	CLX

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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

CLX	+ 0.94	CHD
CLX	+ 0.93	MDLZ
CHD	+ 0.89	MDLZ
CHD	+ 0.87	KVUE
CHD	+ 0.87	MNST
CLX	+ 0.86	KVUE

High negative correlations

KR	- 0.43	EL
EL	- 0.35	KMB
EL	- 0.1	DEO

Risk-Adjusted Indicators

There is a big difference between Colgate Stock performing well and Colgate Palmolive 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 Colgate Palmolive'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
DEO	1.34	(0.02)	(0.03)	0.02	1.65	(1.36)	2.78	(2.78)	7.52
KVUE	0.90	0.17	0.11	1.09	0.87	(0.99)	2.37	(1.55)	5.87
KMB	0.90	0.08	0.02	(0.63)	0.94	(0.98)	2.17	(1.44)	5.43
MNST	0.82	0.23	0.16	(0.61)	0.78	(0.89)	1.84	(1.43)	6.21
MDLZ	1.01	0.05	0.00	1.00	1.31	(1.07)	2.04	(2.27)	9.18
CHD	1.03	0.29	0.20	1.51	0.92	(1.16)	2.37	(1.67)	6.75
EL	1.96	0.30	0.08	0.24	3.61	(2.01)	4.03	(2.44)	24.39
KR	1.35	0.12	0.03	(0.22)	1.64	(1.41)	2.75	(2.68)	7.52
CCEP	0.82	0.23	0.17	(1.74)	0.60	(0.85)	1.95	(0.98)	4.79
CLX	1.16	0.23	0.13	0.58	1.27	(1.23)	2.44	(2.37)	7.64

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