Colgate Palmolive Correlations

Stocks . USA . 
Stock . Colgate Palmolive
CL Stock  USD 96.63  0.13  0.13%   
The current 90-days correlation between Colgate Palmolive and Unilever PLC ADR is 0.63 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Colgate Palmolive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Colgate Palmolive moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Colgate Palmolive Correlation With Market

Good diversification

The correlation between Colgate Palmolive and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Colgate Palmolive 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 Colgate Palmolive. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.
For more information on how to buy Colgate Stock please use our How to buy in Colgate Stock guide.

Moving together with Colgate Stock

  0.74EL Estee Lauder CompaniesPairCorr
  0.69UG United GuardianPairCorr
  0.91UL Unilever PLC ADRPairCorr
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  0.68DSY Big Tree CloudPairCorr
  0.9KMB Kimberly Clark Fiscal Year End 22nd of January 2025 PairCorr
  0.79NAII Natural AlternativesPairCorr
  0.75OLPX Olaplex HoldingsPairCorr

Moving against Colgate Stock

  0.74WDFC WD 40 CompanyPairCorr
  0.61ENR Energizer HoldingsPairCorr
  0.31CHD Church DwightPairCorr
  0.87LFVN LifevantagePairCorr
  0.83NWL Newell BrandsPairCorr
  0.75ODD ODDITY TechPairCorr
  0.72YSG Yatsen HoldingPairCorr
  0.68HELE Helen of TroyPairCorr
  0.62ODC Oil DriPairCorr
  0.57MTEX Mannatech IncorporatedPairCorr
  0.49IPAR Inter ParfumsPairCorr
  0.43HNST Honest CompanyPairCorr
  0.38KVUE Kenvue Inc Sell-off TrendPairCorr
  0.34HLF Herbalife NutritionPairCorr
  0.82BRBR Bellring Brands LLCPairCorr
  0.5NATR Natures Sunshine ProductsPairCorr

Related Correlations Analysis

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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   
CHD
+ 0.89
CLX
EL
+ 0.82
UL
KMB
+ 0.79
UL
EL
+ 0.73
KMB
KMB
+ 0.6
PG
CHD
+ 0.47
PG
  
High negative correlations   
EL
- 0.63
CHD
EL
- 0.62
CLX
CHD
- 0.56
UL
UL
- 0.44
CLX
RBGLY
- 0.4
KMB
RBGLY
- 0.26
UL

Risk-Adjusted Indicators

There is a big difference between Colgate Stock performing well and Colgate Palmolive 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 Colgate Palmolive'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.

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