CSL Correlations

CSLLY Stock

USD 63.01 1.24 1.93%

The current 90-days correlation between CSL and Sanofi is -0.01 (i.e., Good diversification). The correlation of CSL 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.

CSL Correlation With Market

Very weak diversification

The correlation between CSL and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CSL and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with CSL Pink Sheet

0.63	CMXHF	CSL Limited Earnings Call This Week	Pair Corr
0.74	NFG	National Fuel Gas	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.7	CAT	Caterpillar	Pair Corr
0.75	KO	Coca Cola Aggressive Push	Pair Corr
0.62	INTC	Intel	Pair Corr

Moving against CSL Pink Sheet

0.48	ALNY	Alnylam Pharmaceuticals Earnings Call This Week	Pair Corr
0.34	NVNIW	Nvni Group Limited	Pair Corr
0.63	MSFT	Microsoft	Pair Corr
0.5	HPQ	HP Inc	Pair Corr
0.4	GE	GE Aerospace	Pair Corr
0.34	JPM	JPMorgan Chase	Pair Corr
0.31	MMM	3M Company	Pair Corr

Related Correlations Analysis

	SNYNF	SMMNY	GLAXF	MECNY	ARGNF	UCBJF	UCBJY	CHGCY	GNMSF	CHGCF
SNYNF		-0.22	-0.55	0.0	0.48	-0.67	-0.71	-0.41	-0.66	-0.45	SNYNF
SMMNY	-0.22		0.03	0.0	-0.57	0.05	0.08	-0.28	0.11	-0.26	SMMNY
GLAXF	-0.55	0.03		0.0	-0.4	0.76	0.8	0.6	0.71	0.6	GLAXF
MECNY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	MECNY
ARGNF	0.48	-0.57	-0.4	0.0		-0.5	-0.52	-0.02	-0.33	-0.04	ARGNF
UCBJF	-0.67	0.05	0.76	0.0	-0.5		0.94	0.69	0.82	0.67	UCBJF
UCBJY	-0.71	0.08	0.8	0.0	-0.52	0.94		0.73	0.85	0.69	UCBJY
CHGCY	-0.41	-0.28	0.6	0.0	-0.02	0.69	0.73		0.77	0.92	CHGCY
GNMSF	-0.66	0.11	0.71	0.0	-0.33	0.82	0.85	0.77		0.72	GNMSF
CHGCF	-0.45	-0.26	0.6	0.0	-0.04	0.67	0.69	0.92	0.72		CHGCF
	SNYNF	SMMNY	GLAXF	MECNY	ARGNF	UCBJF	UCBJY	CHGCY	GNMSF	CHGCF

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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

UCBJY	+ 0.94	UCBJF
CHGCF	+ 0.92	CHGCY
GNMSF	+ 0.85	UCBJY
GNMSF	+ 0.82	UCBJF
UCBJY	+ 0.8	GLAXF
GNMSF	+ 0.77	CHGCY

High negative correlations

UCBJY	- 0.71	SNYNF
UCBJF	- 0.67	SNYNF
GNMSF	- 0.66	SNYNF
ARGNF	- 0.57	SMMNY
GLAXF	- 0.55	SNYNF
UCBJY	- 0.52	ARGNF

Risk-Adjusted Indicators

There is a big difference between CSL Pink Sheet performing well and CSL 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 CSL'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
SNYNF	1.11	(0.11)	0.00	(0.16)	0.00	0.00	2.83	(3.28)	8.58
SMMNY	1.13	(0.21)	0.00	(0.17)	0.00	0.00	2.05	(3.32)	7.83
GLAXF	2.48	0.52	0.11	(1.67)	2.65	(3.52)	6.60	(5.63)	16.43
MECNY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ARGNF	0.30	0.05	0.00	(0.23)	0.00	0.00	0.00	0.00	9.95
UCBJF	2.58	0.35	0.10	39.84	2.54	(3.63)	7.03	(5.01)	14.52
UCBJY	1.35	0.29	0.16	0.48	1.46	(1.46)	2.64	(2.88)	11.15
CHGCY	1.71	0.25	0.13	0.33	1.63	(1.88)	3.99	(2.84)	11.05
GNMSF	1.13	0.25	0.07	(1.88)	1.26	(2.32)	3.90	(2.76)	10.42
CHGCF	3.10	0.43	0.10	(1.32)	3.69	(3.27)	7.70	(6.12)	18.43

Be your own money manager

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

Karen Etchberger	Executive VP of Quality and Bus. Services	Profile
Paul McKenzie	Chief Officer	Profile
BCom BComm	Chief Officer	Profile
Wilfried Freudenberg	Department Production	Profile
Christina Hickie	Sr Communications	Profile
BS BS	Exec Counsel	Profile
MS BA	Ex Officer	Profile

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