AstraZeneca PLC Correlations

AZN Stock

USD 67.20 0.84 1.27%

The current 90-days correlation between AstraZeneca PLC ADR and Novartis AG ADR is 0.47 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AstraZeneca PLC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AstraZeneca PLC ADR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AstraZeneca PLC Correlation With Market

Good diversification

The correlation between AstraZeneca PLC ADR 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 AstraZeneca PLC ADR and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AstraZeneca PLC ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with AstraZeneca Stock

0.87	VALN	Valneva SE ADR	Pair Corr
0.72	FDMT	4D Molecular Therapeutics	Pair Corr
0.88	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.92	LLY	Eli Lilly Sell-off Trend	Pair Corr
0.9	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.8	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.84	SXTPW	60 Degrees Pharmaceu	Pair Corr
0.62	BIAFW	BioAffinity Technologies	Pair Corr
0.77	MREO	Mereo BioPharma Group	Pair Corr
0.85	NKTX	Nkarta Inc Buyout Trend	Pair Corr
0.91	PEPG	PepGen	Pair Corr
0.85	ADAP	Adaptimmune Therapeutics	Pair Corr
0.74	AMGN	Amgen Inc	Pair Corr

Moving against AstraZeneca Stock

0.88	GILD	Gilead Sciences	Pair Corr
0.87	BMY	Bristol Myers Squibb Aggressive Push	Pair Corr
0.82	NAMS	NewAmsterdam Pharma	Pair Corr
0.57	LPCN	Lipocine	Pair Corr
0.56	PHVS	Pharvaris BV	Pair Corr
0.54	PMVP	Pmv Pharmaceuticals	Pair Corr
0.9	AVTE	Aerovate Therapeutics	Pair Corr
0.87	SGMO	Sangamo Therapeutics Buyout Trend	Pair Corr
0.87	CDXS	Codexis	Pair Corr
0.86	CRVS	Corvus Pharmaceuticals	Pair Corr
0.78	VREX	Varex Imaging Corp	Pair Corr
0.76	AGIO	Agios Pharm	Pair Corr
0.4	SYRE	Spyre Therapeutics Symbol Change	Pair Corr
0.32	ANTX	AN2 Therapeutics	Pair Corr

Related Correlations Analysis

	NVS	GSK	RHHBY	BMY	SNY	MRK	GILD	JNJ	ABBV	LLY
NVS		0.9	0.87	-0.89	0.92	0.9	-0.81	0.91	0.63	0.95	NVS
GSK	0.9		0.77	-0.93	0.92	0.94	-0.86	0.87	0.58	0.85	GSK
RHHBY	0.87	0.77		-0.78	0.79	0.72	-0.63	0.78	0.67	0.83	RHHBY
BMY	-0.89	-0.93	-0.78		-0.92	-0.91	0.83	-0.87	-0.6	-0.85	BMY
SNY	0.92	0.92	0.79	-0.92		0.93	-0.78	0.87	0.69	0.88	SNY
MRK	0.9	0.94	0.72	-0.91	0.93		-0.84	0.87	0.56	0.86	MRK
GILD	-0.81	-0.86	-0.63	0.83	-0.78	-0.84		-0.75	-0.35	-0.72	GILD
JNJ	0.91	0.87	0.78	-0.87	0.87	0.87	-0.75		0.63	0.86	JNJ
ABBV	0.63	0.58	0.67	-0.6	0.69	0.56	-0.35	0.63		0.58	ABBV
LLY	0.95	0.85	0.83	-0.85	0.88	0.86	-0.72	0.86	0.58		LLY
	NVS	GSK	RHHBY	BMY	SNY	MRK	GILD	JNJ	ABBV	LLY

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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

LLY	+ 0.95	NVS
MRK	+ 0.94	GSK
MRK	+ 0.93	SNY
SNY	+ 0.92	NVS
SNY	+ 0.92	GSK
JNJ	+ 0.91	NVS

High negative correlations

BMY	- 0.93	GSK
SNY	- 0.92	BMY
MRK	- 0.91	BMY
BMY	- 0.89	NVS
JNJ	- 0.87	BMY
GILD	- 0.86	GSK

Risk-Adjusted Indicators

There is a big difference between AstraZeneca Stock performing well and AstraZeneca PLC 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 AstraZeneca PLC'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
NVS	0.69	(0.23)	0.00	(1.22)	0.00	0.00	1.12	(1.98)	6.05
GSK	1.06	(0.40)	0.00	(1.30)	0.00	0.00	1.27	(2.56)	8.87
RHHBY	0.99	(0.22)	0.00	1.85	0.00	0.00	1.20	(2.76)	7.58
BMY	1.31	0.33	0.16	4.70	1.18	(1.50)	2.23	(2.07)	14.39
SNY	0.88	(0.23)	0.00	(6.43)	0.00	0.00	1.37	(1.85)	7.81
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
GILD	0.92	0.24	0.13	0.64	1.01	(0.97)	2.17	(1.82)	10.80
JNJ	0.61	(0.09)	0.00	(0.33)	0.00	0.00	1.40	(1.42)	3.25
ABBV	1.06	(0.10)	0.00	(0.47)	0.00	0.00	2.30	(2.11)	18.93
LLY	1.34	(0.33)	0.00	(0.68)	0.00	0.00	2.71	(3.55)	9.21

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