Cencora Correlations

COR Stock

USD 245.69 2.49 1.02%

The current 90-days correlation between Cencora and Barrick Gold Corp is 0.04 (i.e., Significant diversification). The correlation of Cencora 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.

Cencora Correlation With Market

Weak diversification

The correlation between Cencora and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cencora 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 Cencora. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

To learn how to invest in Cencora Stock, please use our How to Invest in Cencora guide.

Moving together with Cencora Stock

0.65	GH	Guardant Health	Pair Corr
0.77	LH	Laboratory	Pair Corr
0.63	VREX	Varex Imaging Corp	Pair Corr
0.69	ENOV	Enovis Corp	Pair Corr

Moving against Cencora Stock

0.66	DRIO	DarioHealth Corp	Pair Corr
0.44	EKSO	Ekso Bionics Holdings	Pair Corr
0.34	VERO	Venus Concept	Pair Corr
0.71	AHG	Akso Health Group	Pair Corr
0.65	FIGS	Figs Inc	Pair Corr
0.58	ALC	Alcon AG	Pair Corr
0.36	BAX	Baxter International	Pair Corr
0.33	AGL	agilon health	Pair Corr

Related Correlations Analysis

	CAR	CFRLF	WTMA	UEC	FSLUF	GOLD	SAND
CAR		0.03	0.42	0.51	0.0	-0.62	-0.15	CAR
CFRLF	0.03		-0.69	0.38	0.0	-0.05	0.43	CFRLF
WTMA	0.42	-0.69		-0.2	0.0	-0.37	-0.57	WTMA
UEC	0.51	0.38	-0.2		0.0	-0.32	0.29	UEC
FSLUF	0.0	0.0	0.0	0.0		0.0	0.0	FSLUF
GOLD	-0.62	-0.05	-0.37	-0.32	0.0		0.53	GOLD
SAND	-0.15	0.43	-0.57	0.29	0.0	0.53		SAND
	CAR	CFRLF	WTMA	UEC	FSLUF	GOLD	SAND

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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

SAND	+ 0.53	GOLD
UEC	+ 0.51	CAR
SAND	+ 0.43	CFRLF
WTMA	+ 0.42	CAR
UEC	+ 0.38	CFRLF
SAND	+ 0.29	UEC

High negative correlations

WTMA	- 0.69	CFRLF
GOLD	- 0.62	CAR
SAND	- 0.57	WTMA
GOLD	- 0.37	WTMA
GOLD	- 0.32	UEC
UEC	- 0.2	WTMA

Risk-Adjusted Indicators

There is a big difference between Cencora Stock performing well and Cencora 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 Cencora'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
CAR	2.95	(0.03)	0.04	0.08	3.24	(3.27)	6.48	(5.69)	16.84
CFRLF	1.23	0.62	0.00	(0.40)	0.00	0.00	0.00	0.00	43.64
WTMA	0.11	(0.01)	(0.11)	(0.07)	0.23	(0.63)	0.55	(0.36)	1.70
UEC	3.51	0.62	0.19	0.34	3.21	(4.31)	11.59	(5.58)	22.80
FSLUF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GOLD	1.51	(0.17)	0.00	1.52	0.00	0.00	2.85	(3.49)	9.58
SAND	1.73	0.02	(0.02)	0.16	2.43	(1.79)	3.33	(2.56)	15.60

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