Johnson Johnson Correlations

JNJ Stock

USD 154.57 1.46 0.95%

The current 90-days correlation between Johnson Johnson and Merck Company is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Johnson Johnson moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Johnson Johnson moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Johnson Johnson Correlation With Market

Average diversification

The correlation between Johnson Johnson and DJI is 0.19 (i.e., Average 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Johnson Johnson. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Johnson Stock please use our How to buy in Johnson Stock guide.

Moving together with Johnson Stock

0.63	ME	23Andme Holding	Pair Corr
0.61	VALN	Valneva SE ADR	Pair Corr
0.63	DRMA	Dermata Therapeutics	Pair Corr
0.72	DRRX	Durect	Pair Corr
0.8	DTIL	Precision BioSciences	Pair Corr
0.62	VINC	Vincerx Pharma	Pair Corr
0.65	VIRX	Viracta Therapeutics	Pair Corr
0.64	VRCA	Verrica Pharmaceuticals	Pair Corr
0.72	EDIT	Editas Medicine	Pair Corr
0.81	EDSA	Edesa Biotech Fiscal Year End 20th of December 2024	Pair Corr
0.82	VXRT	Vaxart Inc	Pair Corr

Moving against Johnson Stock

0.76	VERA	Vera Therapeutics	Pair Corr
0.72	DVAX	Dynavax Technologies	Pair Corr
0.67	VRNA	Verona Pharma PLC	Pair Corr
0.59	SABSW	SAB Biotherapeutics	Pair Corr
0.52	VCEL	Vericel Corp Ord	Pair Corr
0.5	DRUG	Bright Minds Biosciences	Pair Corr
0.49	DSGN	Design Therapeutics	Pair Corr
0.76	VSTM	Verastem	Pair Corr
0.69	VYNE	Vyne Therapeutics	Pair Corr
0.68	ELDN	Eledon Pharmaceuticals	Pair Corr
0.66	VTRS	Viatris	Pair Corr
0.62	ELTX	Elicio Therapeutics	Pair Corr
0.6	ENSC	Ensysce Biosciences	Pair Corr
0.4	ELVN	Enliven Therapeutics	Pair Corr
0.32	ENTO	Entero Therapeutics, Symbol Change	Pair Corr

Related Correlations Analysis

	MRK	PFE	SCRYX	FRHC	GFL	RGAGX	SVII	GFI	KNF
MRK		0.79	-0.66	-0.94	-0.64	-0.82	-0.66	-0.28	-0.76	MRK
PFE	0.79		-0.61	-0.74	-0.79	-0.59	-0.35	0.12	-0.44	PFE
SCRYX	-0.66	-0.61		0.71	0.6	0.89	0.61	0.16	0.73	SCRYX
FRHC	-0.94	-0.74	0.71		0.59	0.84	0.65	0.3	0.85	FRHC
GFL	-0.64	-0.79	0.6	0.59		0.51	0.4	-0.12	0.31	GFL
RGAGX	-0.82	-0.59	0.89	0.84	0.51		0.65	0.42	0.86	RGAGX
SVII	-0.66	-0.35	0.61	0.65	0.4	0.65		0.39	0.73	SVII
GFI	-0.28	0.12	0.16	0.3	-0.12	0.42	0.39		0.49	GFI
KNF	-0.76	-0.44	0.73	0.85	0.31	0.86	0.73	0.49		KNF
	MRK	PFE	SCRYX	FRHC	GFL	RGAGX	SVII	GFI	KNF

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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

RGAGX	+ 0.89	SCRYX
KNF	+ 0.86	RGAGX
KNF	+ 0.85	FRHC
RGAGX	+ 0.84	FRHC
PFE	+ 0.79	MRK
KNF	+ 0.73	SCRYX

High negative correlations

FRHC	- 0.94	MRK
RGAGX	- 0.82	MRK
GFL	- 0.79	PFE
KNF	- 0.76	MRK
FRHC	- 0.74	PFE
SVII	- 0.66	MRK

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
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
PFE	0.96	(0.23)	0.00	(0.62)	0.00	0.00	2.17	(2.45)	8.17
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
FRHC	1.37	0.47	0.25	0.96	1.13	(1.50)	4.02	(2.40)	7.38
GFL	1.23	0.05	0.02	0.15	1.36	(1.32)	2.97	(2.29)	7.37
RGAGX	0.69	0.11	0.02	(1.49)	0.91	(0.71)	1.34	(1.66)	4.40
SVII	0.20	(0.02)	(0.11)	0.00	0.39	(0.32)	0.44	(0.53)	4.77
GFI	2.21	(0.15)	0.00	1.25	0.00	0.00	4.52	(5.41)	14.93
KNF	1.58	0.26	0.15	0.22	1.88	(1.66)	4.01	(2.46)	12.96

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