GSK Plc Correlations

GLAXF Stock

USD 25.87 0.88 3.52%

The current 90-days correlation between GSK plc and Chugai Pharmaceutical Co is -0.12 (i.e., Good diversification). The correlation of GSK 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.

GSK Plc Correlation With Market

Poor diversification

The correlation between GSK plc and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GSK plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GSK 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 GSK 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 GSK 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 GSK plc to buy it.

Moving together with GSK Pink Sheet

0.68	LLY	Eli Lilly	Pair Corr
0.76	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.76	AZN	AstraZeneca PLC	Pair Corr
0.73	NVS	Novartis AG ADR Earnings Call This Week	Pair Corr
0.81	MRK	Merck Company Earnings Call This Week	Pair Corr
0.78	RHHBF	Roche Holding AG	Pair Corr
0.79	RHHBY	Roche Holding	Pair Corr
0.79	RHHVF	Roche Holding AG	Pair Corr
0.72	AZNCF	AstraZeneca PLC	Pair Corr
0.65	AXIA	AXIA Energia Symbol Change	Pair Corr
0.74	KGC	Kinross Gold	Pair Corr
0.66	ACN	Accenture plc	Pair Corr

Moving against GSK Pink Sheet

0.7	ATMV	ATMV Old Symbol Change	Pair Corr
0.41	MMC	MMC Old Symbol Change	Pair Corr

Related Correlations Analysis

	CHGCY	SNYNF	CHGCF	CSLLY	DSNKY	MKGAF	MKKGY	DSKYF	OTSKY	SOAGY
CHGCY		-0.43	0.94	0.26	-0.53	0.63	0.66	-0.57	0.66	0.52	CHGCY
SNYNF	-0.43		-0.41	-0.16	0.66	-0.65	-0.63	0.6	-0.62	-0.52	SNYNF
CHGCF	0.94	-0.41		0.25	-0.53	0.62	0.64	-0.54	0.61	0.49	CHGCF
CSLLY	0.26	-0.16	0.25		-0.16	0.26	0.32	-0.2	0.43	0.34	CSLLY
DSNKY	-0.53	0.66	-0.53	-0.16		-0.56	-0.58	0.92	-0.48	-0.32	DSNKY
MKGAF	0.63	-0.65	0.62	0.26	-0.56		0.95	-0.56	0.63	0.82	MKGAF
MKKGY	0.66	-0.63	0.64	0.32	-0.58	0.95		-0.57	0.68	0.86	MKKGY
DSKYF	-0.57	0.6	-0.54	-0.2	0.92	-0.56	-0.57		-0.46	-0.29	DSKYF
OTSKY	0.66	-0.62	0.61	0.43	-0.48	0.63	0.68	-0.46		0.71	OTSKY
SOAGY	0.52	-0.52	0.49	0.34	-0.32	0.82	0.86	-0.29	0.71		SOAGY
	CHGCY	SNYNF	CHGCF	CSLLY	DSNKY	MKGAF	MKKGY	DSKYF	OTSKY	SOAGY

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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

MKKGY	+ 0.95	MKGAF
CHGCF	+ 0.94	CHGCY
DSKYF	+ 0.92	DSNKY
SOAGY	+ 0.86	MKKGY
SOAGY	+ 0.82	MKGAF
SOAGY	+ 0.71	OTSKY

High negative correlations

MKGAF	- 0.65	SNYNF
MKKGY	- 0.63	SNYNF
OTSKY	- 0.62	SNYNF
MKKGY	- 0.58	DSNKY
DSKYF	- 0.57	MKKGY
DSKYF	- 0.57	CHGCY

Risk-Adjusted Indicators

There is a big difference between GSK Pink Sheet performing well and GSK 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 GSK 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
CHGCY	1.71	0.37	0.20	0.51	1.47	(1.93)	3.99	(2.84)	11.05
SNYNF	1.15	(0.18)	0.00	(35.58)	0.00	0.00	2.63	(3.43)	8.58
CHGCF	2.98	0.53	0.12	(0.72)	3.43	(3.15)	7.70	(5.19)	18.43
CSLLY	1.44	(0.12)	0.00	(0.55)	0.00	0.00	2.53	(2.70)	15.28
DSNKY	1.94	(0.53)	0.00	(0.49)	0.00	0.00	3.96	(4.08)	10.19
MKGAF	2.64	0.25	0.07	0.65	3.25	(2.62)	6.98	(5.36)	14.30
MKKGY	1.26	0.14	0.09	0.18	1.37	(1.38)	2.89	(2.52)	7.85
DSKYF	3.03	(0.45)	0.00	(0.66)	0.00	0.00	6.37	(6.88)	17.89
OTSKY	1.46	0.13	0.08	0.20	1.38	(1.71)	3.41	(2.61)	8.24
SOAGY	1.38	(0.02)	0.00	0.02	1.51	(1.61)	3.54	(2.55)	8.82

Be your own money manager

Our tools can tell you how much better you can do entering a position in GSK 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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