GILEAD Correlations
| 375558BX0 | 91.15 0.22 0.24% |
The current 90-days correlation between GILEAD SCIENCES INC and The Coca Cola is 0.1 (i.e., Average diversification). The correlation of GILEAD 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.
GILEAD Correlation With Market
Average diversification
The correlation between GILEAD SCIENCES INC and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GILEAD SCIENCES INC and DJI in the same portfolio, assuming nothing else is changed.
GILEAD |
The ability to find closely correlated positions to GILEAD could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GILEAD 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 GILEAD - 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 GILEAD SCIENCES INC to buy it.
Moving together with GILEAD Bond
| 0.7 | 90331HPL1 | US BANK NATIONAL | PairCorr |
| 0.68 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.81 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.69 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.64 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
Moving against GILEAD Bond
| 0.75 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.72 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.58 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.56 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.56 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.51 | T | ATT Inc Sell-off Trend | PairCorr |
| 0.5 | HPQ | HP Inc | PairCorr |
| 0.44 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.42 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between GILEAD Bond performing well and GILEAD Corporate Bond 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 GILEAD'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| KO | 0.70 | (0.13) | 0.00 | (1.10) | 0.00 | 1.18 | 4.07 | |||
| JPM | 1.12 | 0.00 | 0.06 | 0.12 | 1.44 | 2.05 | 15.87 | |||
| DD | 1.00 | (0.02) | (0.04) | 0.09 | 1.19 | 2.68 | 7.46 | |||
| AA | 2.47 | 0.31 | 0.15 | 0.28 | 2.65 | 6.10 | 14.99 | |||
| BA | 1.70 | (0.24) | 0.00 | (0.41) | 0.00 | 3.11 | 8.23 | |||
| MSFT | 0.88 | (0.08) | (0.07) | 0.01 | 1.51 | 2.09 | 8.19 | |||
| PG | 0.72 | 0.09 | (0.05) | (0.87) | 0.80 | 1.74 | 4.66 | |||
| IBM | 0.97 | 0.13 | 0.06 | 0.26 | 1.27 | 2.22 | 8.66 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in GILEAD 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.Did you try this?
Run Idea Breakdown Now
Idea BreakdownAnalyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |
| All Next | Launch Module |