Merck Correlations

MRK Stock

USD 107.44 0.99 0.93%

The current 90-days correlation between Merck Company and Journey Medical Corp is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Merck moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Merck Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Merck Correlation With Market

Weak diversification

The correlation between Merck Company and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Merck Company and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Merck Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Merck Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Merck Stock

0.84	VTRS	Viatris	Pair Corr
0.69	TLRY	Tilray Inc Earnings Call This Week	Pair Corr
0.93	AZN	AstraZeneca PLC ADR	Pair Corr
0.88	BMY	Bristol Myers Squibb	Pair Corr
0.81	GSK	GlaxoSmithKline PLC ADR	Pair Corr
0.92	JNJ	Johnson Johnson	Pair Corr
0.68	NVS	Novartis AG ADR	Pair Corr
0.9	JAZZ	Jazz Pharmaceuticals PLC	Pair Corr
0.73	EAH	Eco Animal Health	Pair Corr
0.66	RPRX	Royalty Pharma Plc	Pair Corr
0.73	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.63	SAR	Saratoga Investment Corp Earnings Call Tomorrow	Pair Corr

Moving against Merck Stock

0.67	000813	Dezhan HealthCare	Pair Corr
0.48	ACB	Aurora Cannabis	Pair Corr
0.45	SNY	Sanofi ADR	Pair Corr
0.38	NVO	Novo Nordisk AS Aggressive Push	Pair Corr
0.88	688185	Cansino Biologics	Pair Corr
0.82	ALTS	ALT5 Sigma Buyout Trend	Pair Corr
0.81	600079	Humanwell Healthcare	Pair Corr
0.81	FUM	Futura Medical	Pair Corr
0.79	SIGA	SIGA Technologies	Pair Corr
0.78	ZYBT	Zhengye Biotechnology	Pair Corr
0.73	688276	Changchun BCHT Biote	Pair Corr
0.64	SNDL	SNDL Inc	Pair Corr
0.54	ADGM	Adagio Medical Holdings	Pair Corr
0.42	002219	Hengkang Medical	Pair Corr
0.36	AQST	Aquestive Therapeutics	Pair Corr
0.83	SNES	SenesTech	Pair Corr
0.78	JD	JD Inc Adr	Pair Corr
0.76	002688	Jinhe Biotechnology	Pair Corr
0.66	300363	Porton Fine Chemicals	Pair Corr
0.48	HNHPF	Hon Hai Precision	Pair Corr

Related Correlations Analysis

	DERM	INFU	ACB	HSDT	RNAC	OBIO	IVA	SXTC	LFCR	ELMD
DERM		0.32	-0.38	-0.39	-0.41	0.22	-0.48	-0.2	0.14	-0.06	DERM
INFU	0.32		0.35	0.37	0.46	-0.47	0.31	-0.15	-0.43	-0.63	INFU
ACB	-0.38	0.35		0.79	0.85	-0.7	0.67	0.32	-0.51	-0.24	ACB
HSDT	-0.39	0.37	0.79		0.85	-0.83	0.61	0.23	-0.7	-0.56	HSDT
RNAC	-0.41	0.46	0.85	0.85		-0.77	0.74	0.12	-0.73	-0.5	RNAC
OBIO	0.22	-0.47	-0.7	-0.83	-0.77		-0.6	-0.3	0.66	0.57	OBIO
IVA	-0.48	0.31	0.67	0.61	0.74	-0.6		0.22	-0.49	-0.28	IVA
SXTC	-0.2	-0.15	0.32	0.23	0.12	-0.3	0.22		0.11	0.23	SXTC
LFCR	0.14	-0.43	-0.51	-0.7	-0.73	0.66	-0.49	0.11		0.77	LFCR
ELMD	-0.06	-0.63	-0.24	-0.56	-0.5	0.57	-0.28	0.23	0.77		ELMD
	DERM	INFU	ACB	HSDT	RNAC	OBIO	IVA	SXTC	LFCR	ELMD

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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

RNAC	+ 0.85	ACB
RNAC	+ 0.85	HSDT
HSDT	+ 0.79	ACB
ELMD	+ 0.77	LFCR
IVA	+ 0.74	RNAC
IVA	+ 0.67	ACB

High negative correlations

OBIO	- 0.83	HSDT
OBIO	- 0.77	RNAC
LFCR	- 0.73	RNAC
LFCR	- 0.7	HSDT
OBIO	- 0.7	ACB
ELMD	- 0.63	INFU

Risk-Adjusted Indicators

There is a big difference between Merck Stock performing well and Merck 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 Merck'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
DERM	2.45	(0.04)	(0.01)	0.02	3.67	(2.48)	4.66	(4.50)	22.82
INFU	2.19	(0.30)	0.00	(0.14)	0.00	0.00	4.40	(4.94)	15.71
ACB	2.81	(0.46)	0.00	(0.30)	0.00	0.00	4.36	(6.04)	26.49
HSDT	6.67	(1.97)	0.00	(4.27)	0.00	0.00	11.88	(13.17)	50.13
RNAC	3.37	(0.58)	0.00	(0.44)	0.00	0.00	7.26	(7.72)	27.93
OBIO	4.15	0.74	0.20	0.40	3.71	(5.14)	11.08	(5.98)	25.95
IVA	4.67	(0.36)	0.00	(0.05)	0.00	0.00	9.72	(11.54)	34.91
SXTC	3.64	0.26	0.04	1.40	4.42	(4.74)	13.10	(5.97)	34.77
LFCR	2.09	0.04	0.04	0.10	2.14	(2.54)	6.17	(4.01)	15.24
ELMD	1.68	0.16	0.06	0.25	2.21	(1.77)	3.66	(4.19)	10.99

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