Colgate Palmolive Correlations

Stocks . Germany . 
Stock . Colgate Palmolive
CPA Stock  EUR 80.46  0.21  0.26%   
The current 90-days correlation between Colgate Palmolive and Zijin Mining Group is -0.41 (i.e., Very good diversification). The correlation of Colgate Palmolive 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.

Colgate Palmolive Correlation With Market

Poor diversification

The correlation between Colgate Palmolive and DJI is 0.61 (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.
  
The ability to find closely correlated positions to Colgate Palmolive could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Colgate Palmolive 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 Colgate Palmolive - 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 Colgate Palmolive to buy it.

Moving together with Colgate Stock

  0.84JMI Deep Yellow LimitedPairCorr
  0.9PPQ PPG INDUSTRIESPairCorr
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  0.62317A STINGRAY GROUP INCPairCorr
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  0.73PAE PACCARPairCorr
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  0.8HKT HK Electric InvestmentsPairCorr
  0.82ELG Elmos SemiconductorPairCorr
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  0.801H HORIBAPairCorr
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  0.75PRHA Prosegur Compaa dePairCorr
  0.85TWZ Trican Well ServicePairCorr
  0.723RB RECKITT BENCK GRPPairCorr

Moving against Colgate Stock

  0.47DBPD Xtrackers ShortDAXPairCorr
  0.433HB Hybrigenics SocietePairCorr
  0.41777 EUROSPORTS GLOBAL LTDPairCorr
  0.33EFF DTEFFWECHSEL BET SplitPairCorr

Related Correlations Analysis


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

FJZ
+ 0.89
GG7
8ZI
+ 0.87
GG7
HAM
+ 0.81
FJZ
HAM
+ 0.77
GG7
8ZI
+ 0.74
FJZ
COA1
+ 0.66
B7O
  

High negative correlations

COA1
- 0.86
GG7
8ZI
- 0.79
COA1
COA1
- 0.76
FJZ
COA1
- 0.66
HAM
B7O
- 0.6
GG7
B7O
- 0.57
HAM

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Colgate Palmolive 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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Colgate Palmolive Corporate Management

Elected by the shareholders, the Colgate Palmolive's board of directors comprises two types of representatives: Colgate Palmolive inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Colgate. The board's role is to monitor Colgate Palmolive's management team and ensure that shareholders' interests are well served. Colgate Palmolive's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Colgate Palmolive's outside directors are responsible for providing unbiased perspectives on the board's policies.
AnneMarie MotteExecutive AmericaProfile
Gregory MalcolmController VPProfile
David FosterChief OfficerProfile
Valerie HaliburtonVP ComplianceProfile
Prabha ParameswaranGroup StrategyProfile
Stephan HabifChief OfficerProfile
Jennifer DanielsChief SecretaryProfile
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