Johnson Johnson Correlations

JNJ Stock

EUR 147.50 0.14 0.1%

The current 90-days correlation between Johnson Johnson and Merck Co is 0.22 (i.e., Modest diversification). The correlation of Johnson Johnson 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.

Johnson Johnson Correlation With Market

Modest diversification

The correlation between Johnson Johnson and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Johnson and DJI in the same portfolio, assuming nothing else is changed.

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

Related Correlations Analysis

	6MK	RHO6	AMG	BAYN	BAYA	IDP	YPHA	YPH	CVGU
6MK		0.42	0.59	0.71	0.74	0.9	0.74	0.73	-0.33	6MK
RHO6	0.42		0.53	0.42	0.42	0.66	0.6	0.54	-0.06	RHO6
AMG	0.59	0.53		0.62	0.61	0.72	0.73	0.67	-0.15	AMG
BAYN	0.71	0.42	0.62		0.97	0.79	0.78	0.75	0.12	BAYN
BAYA	0.74	0.42	0.61	0.97		0.81	0.79	0.75	0.06	BAYA
IDP	0.9	0.66	0.72	0.79	0.81		0.89	0.85	-0.23	IDP
YPHA	0.74	0.6	0.73	0.78	0.79	0.89		0.96	-0.18	YPHA
YPH	0.73	0.54	0.67	0.75	0.75	0.85	0.96		-0.25	YPH
CVGU	-0.33	-0.06	-0.15	0.12	0.06	-0.23	-0.18	-0.25		CVGU
	6MK	RHO6	AMG	BAYN	BAYA	IDP	YPHA	YPH	CVGU

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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

BAYA	+ 0.97	BAYN
YPH	+ 0.96	YPHA
IDP	+ 0.9	6MK
YPHA	+ 0.89	IDP
YPH	+ 0.85	IDP
IDP	+ 0.81	BAYA

High negative correlations

CVGU	- 0.33	6MK
CVGU	- 0.25	YPH
CVGU	- 0.23	IDP
CVGU	- 0.18	YPHA
CVGU	- 0.15	AMG
CVGU	- 0.06	RHO6

Risk-Adjusted Indicators

There is a big difference between Johnson Stock performing well and Johnson Johnson 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 Johnson Johnson'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
6MK	0.99	(0.16)	0.00	(0.25)	0.00	0.00	1.72	(2.28)	5.61
RHO6	1.33	(0.15)	0.00	17.48	0.00	0.00	2.85	(3.05)	8.69
AMG	1.31	(0.29)	0.00	(0.21)	0.00	0.00	2.59	(4.31)	10.60
BAYN	1.56	(0.54)	0.00	(1.23)	0.00	0.00	2.76	(3.62)	18.73
BAYA	3.18	(0.50)	0.00	(0.79)	0.00	0.00	6.38	(6.72)	20.23
IDP	1.19	(0.34)	0.00	(0.70)	0.00	0.00	2.31	(2.51)	6.22
YPHA	1.26	(0.21)	0.00	1.42	0.00	0.00	1.94	(3.66)	6.86
YPH	1.62	(0.22)	0.00	(0.66)	0.00	0.00	2.15	(4.10)	12.86
CVGU	3.68	0.45	0.05	(0.44)	4.40	(5.04)	8.70	(7.67)	43.46

Be your own money manager

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

Elected by the shareholders, the Johnson Johnson's board of directors comprises two types of representatives: Johnson Johnson inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Johnson. The board's role is to monitor Johnson Johnson's management team and ensure that shareholders' interests are well served. Johnson Johnson'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, Johnson Johnson's outside directors are responsible for providing unbiased perspectives on the board's policies.

Dirk Brinckman	Chief Officer	Profile
Robert Decker	Controller Officer	Profile
Jessica Moore	VP Relations	Profile
Joseph CPA	Ex CFO	Profile
James Swanson	Ex Officer	Profile

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