Perrigo Company Correlations

PRGO Stock

USD 28.07 0.99 3.66%

The current 90-days correlation between Perrigo Company and Prestige Brand Holdings is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Perrigo Company moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Perrigo Company PLC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Perrigo Company Correlation With Market

Very weak diversification

The correlation between Perrigo Company PLC and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Perrigo Company PLC and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Perrigo Company PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Perrigo Stock

0.85	VCNX	Vaccinex	Pair Corr
0.73	KRYS	Krystal Biotech	Pair Corr
0.86	NUVB	Nuvation Bio	Pair Corr

Moving against Perrigo Stock

0.74	VRDN	Viridian Therapeutics	Pair Corr
0.69	KZR	Kezar Life Sciences	Pair Corr
0.62	EWTX	Edgewise Therapeutics	Pair Corr
0.42	GILD	Gilead Sciences	Pair Corr
0.35	BMY	Bristol Myers Squibb Sell-off Trend	Pair Corr
0.32	TIL	Instil Bio	Pair Corr
0.81	BGNE	BeiGene	Pair Corr
0.59	MLYS	Mineralys Therapeutics,	Pair Corr
0.56	PCVX	Vaxcyte	Pair Corr
0.56	SRZN	Surrozen	Pair Corr
0.33	AKRO	Akero Therapeutics	Pair Corr
0.33	AMLX	Amylyx Pharmaceuticals	Pair Corr

Related Correlations Analysis

	PBH	AMPH	DCPH	PCRX	COLL	PAHC	ELAN	RDY	SSIC	EGRX
PBH		-0.3	-0.36	0.39	-0.85	0.45	-0.15	-0.71	0.84	-0.41	PBH
AMPH	-0.3		0.32	0.31	0.27	0.24	-0.47	0.21	-0.61	0.07	AMPH
DCPH	-0.36	0.32		-0.02	0.25	-0.16	-0.13	0.45	-0.27	0.31	DCPH
PCRX	0.39	0.31	-0.02		-0.45	0.73	-0.63	-0.59	0.22	-0.62	PCRX
COLL	-0.85	0.27	0.25	-0.45		-0.52	0.42	0.84	-0.73	0.51	COLL
PAHC	0.45	0.24	-0.16	0.73	-0.52		-0.62	-0.65	0.3	-0.63	PAHC
ELAN	-0.15	-0.47	-0.13	-0.63	0.42	-0.62		0.51	0.08	0.5	ELAN
RDY	-0.71	0.21	0.45	-0.59	0.84	-0.65	0.51		-0.54	0.78	RDY
SSIC	0.84	-0.61	-0.27	0.22	-0.73	0.3	0.08	-0.54		-0.29	SSIC
EGRX	-0.41	0.07	0.31	-0.62	0.51	-0.63	0.5	0.78	-0.29		EGRX
	PBH	AMPH	DCPH	PCRX	COLL	PAHC	ELAN	RDY	SSIC	EGRX

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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

SSIC	+ 0.84	PBH
RDY	+ 0.84	COLL
EGRX	+ 0.78	RDY
PAHC	+ 0.73	PCRX
EGRX	+ 0.51	COLL
RDY	+ 0.51	ELAN

High negative correlations

COLL	- 0.85	PBH
SSIC	- 0.73	COLL
RDY	- 0.71	PBH
RDY	- 0.65	PAHC
EGRX	- 0.63	PAHC
ELAN	- 0.63	PCRX

Risk-Adjusted Indicators

There is a big difference between Perrigo Stock performing well and Perrigo Company 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 Perrigo Company'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
PBH	0.92	0.18	0.12	0.36	0.91	(1.01)	1.90	(1.76)	4.90
AMPH	1.59	(0.19)	0.00	(0.03)	0.00	0.00	3.37	(3.61)	17.30
DCPH	1.66	(0.14)	0.00	0.38	0.00	0.00	3.27	(3.25)	9.66
PCRX	1.90	0.22	0.11	0.32	1.95	(2.10)	3.96	(3.21)	10.38
COLL	1.88	(0.40)	0.00	(0.23)	0.00	0.00	3.59	(4.47)	12.29
PAHC	1.96	0.16	0.13	0.21	1.62	(2.30)	5.36	(2.45)	15.47
ELAN	1.61	(0.18)	0.00	(0.23)	0.00	0.00	2.87	(3.79)	16.54
RDY	0.96	(0.33)	0.00	(0.27)	0.00	0.00	1.50	(2.20)	6.89
SSIC	1.09	0.12	0.02	0.60	1.04	(1.35)	2.89	(1.82)	7.09
EGRX	3.94	(1.12)	0.00	1.87	0.00	0.00	9.24	(8.24)	53.71

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