QUALCOMM Incorporated Correlations

QCOMD Stock

USD 15.25 0.10 0.66%

The current 90-days correlation between QUALCOMM Incorporated and Alibaba Group Holding is 0.21 (i.e., Modest diversification). The correlation of QUALCOMM Incorporated 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.

QUALCOMM Incorporated Correlation With Market

Good diversification

The correlation between QUALCOMM Incorporated and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding QUALCOMM Incorporated and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with QUALCOMM Stock

0.82	BABA	Alibaba Group Holding	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr
0.65	MRK	Merck Company	Pair Corr
0.65	X	United States Steel	Pair Corr
0.69	KO	Coca Cola	Pair Corr
0.73	AKO-B	Embotelladora Andina	Pair Corr

Moving against QUALCOMM Stock

0.79	DISN	Walt Disney	Pair Corr
0.69	WMT	Walmart	Pair Corr
0.59	AMZN	Amazon Inc	Pair Corr
0.44	AXP	American Express	Pair Corr
0.4	GOOGL	Alphabet Class A	Pair Corr

Related Correlations Analysis

	BABA	AAPL	GOOGL	AMZN	JNJ	WMT	CVX	PG	MRK	DISN
BABA		0.0	-0.19	-0.46	0.92	-0.62	0.2	0.53	0.83	-0.83	BABA
AAPL	0.0		0.76	0.67	-0.03	0.66	-0.28	0.3	0.34	0.38	AAPL
GOOGL	-0.19	0.76		0.91	-0.27	0.79	-0.02	-0.14	0.06	0.48	GOOGL
AMZN	-0.46	0.67	0.91		-0.55	0.91	-0.12	-0.27	-0.2	0.69	AMZN
JNJ	0.92	-0.03	-0.27	-0.55		-0.6	0.4	0.66	0.85	-0.74	JNJ
WMT	-0.62	0.66	0.79	0.91	-0.6		-0.12	-0.17	-0.23	0.81	WMT
CVX	0.2	-0.28	-0.02	-0.12	0.4	-0.12		0.07	0.25	-0.12	CVX
PG	0.53	0.3	-0.14	-0.27	0.66	-0.17	0.07		0.67	-0.18	PG
MRK	0.83	0.34	0.06	-0.2	0.85	-0.23	0.25	0.67		-0.54	MRK
DISN	-0.83	0.38	0.48	0.69	-0.74	0.81	-0.12	-0.18	-0.54		DISN
	BABA	AAPL	GOOGL	AMZN	JNJ	WMT	CVX	PG	MRK	DISN

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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

JNJ	+ 0.92	BABA
AMZN	+ 0.91	GOOGL
WMT	+ 0.91	AMZN
MRK	+ 0.85	JNJ
MRK	+ 0.83	BABA
DISN	+ 0.81	WMT

High negative correlations

DISN	- 0.83	BABA
DISN	- 0.74	JNJ
WMT	- 0.62	BABA
WMT	- 0.6	JNJ
JNJ	- 0.55	AMZN
DISN	- 0.54	MRK

Risk-Adjusted Indicators

There is a big difference between QUALCOMM Stock performing well and QUALCOMM Incorporated 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 QUALCOMM Incorporated'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
BABA	1.86	(0.32)	0.00	(11.85)	0.00	0.00	3.98	(4.04)	12.25
AAPL	1.12	0.02	0.00	(0.09)	1.59	(1.11)	1.82	(2.67)	8.95
GOOGL	1.48	0.28	0.14	(1.27)	1.46	(1.54)	3.21	(2.54)	8.76
AMZN	1.42	0.30	0.15	(5.84)	1.55	(1.72)	2.90	(2.13)	13.55
JNJ	1.00	(0.14)	0.00	0.98	0.00	0.00	1.74	(2.70)	6.75
WMT	1.04	0.21	0.14	(2.20)	1.03	(1.20)	2.73	(2.08)	5.15
CVX	1.11	0.10	0.05	(0.97)	1.38	(1.26)	2.03	(2.59)	8.33
PG	0.99	(0.10)	0.00	(0.46)	0.00	0.00	1.98	(2.30)	6.93
MRK	1.14	(0.16)	0.00	(1.88)	0.00	0.00	2.04	(2.51)	5.19
DISN	1.16	0.19	0.11	(1.24)	1.33	(1.26)	3.59	(1.86)	9.73

Be your own money manager

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