Johnson Johnson Correlations

JNJ Stock

USD 155.01 0.39 0.25%

The current 90-days correlation between Johnson Johnson and Crinetics Pharmaceuticals is 0.11 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Johnson Johnson moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Johnson Johnson moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Johnson Johnson Correlation With Market

Modest diversification

The correlation between Johnson Johnson and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Johnson and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Johnson Johnson. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Johnson Stock please use our How to buy in Johnson Stock guide.

Moving together with Johnson Stock

0.79	HLN	Haleon plc	Pair Corr
0.85	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.78	ANRO	Alto Neuroscience,	Pair Corr
0.69	SHG	Shinhan Financial	Pair Corr
0.8	BCH	Banco De Chile	Pair Corr
0.75	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.87	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Moving against Johnson Stock

0.81	FNMFO	Federal National Mortgage	Pair Corr
0.8	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.58	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.43	CIB	Bancolombia SA ADR	Pair Corr
0.42	ITCL	Banco Ita Chile	Pair Corr
0.4	AVAL	Grupo Aval	Pair Corr
0.39	KB	KB Financial Group	Pair Corr
0.86	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.8	BAC	Bank of America Aggressive Push	Pair Corr
0.8	DIS	Walt Disney Sell-off Trend	Pair Corr
0.79	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr
0.76	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.7	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.64	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.6	HD	Home Depot	Pair Corr

Related Correlations Analysis

	CRNX	ENTA	FOLD	CNTB	LGND	PASG	ORIC	LYEL	DSGN	RVMD
CRNX		-0.05	0.03	-0.5	0.76	-0.2	-0.32	-0.4	0.59	0.72	CRNX
ENTA	-0.05		0.81	0.49	-0.45	0.11	0.02	0.39	-0.32	-0.62	ENTA
FOLD	0.03	0.81		0.39	-0.31	0.23	0.07	0.31	-0.17	-0.5	FOLD
CNTB	-0.5	0.49	0.39		-0.71	0.13	0.19	0.47	-0.56	-0.65	CNTB
LGND	0.76	-0.45	-0.31	-0.71		-0.03	-0.14	-0.51	0.64	0.85	LGND
PASG	-0.2	0.11	0.23	0.13	-0.03		0.42	0.16	0.02	-0.29	PASG
ORIC	-0.32	0.02	0.07	0.19	-0.14	0.42		0.67	0.11	-0.19	ORIC
LYEL	-0.4	0.39	0.31	0.47	-0.51	0.16	0.67		-0.18	-0.49	LYEL
DSGN	0.59	-0.32	-0.17	-0.56	0.64	0.02	0.11	-0.18		0.58	DSGN
RVMD	0.72	-0.62	-0.5	-0.65	0.85	-0.29	-0.19	-0.49	0.58		RVMD
	CRNX	ENTA	FOLD	CNTB	LGND	PASG	ORIC	LYEL	DSGN	RVMD

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RVMD	+ 0.85	LGND
FOLD	+ 0.81	ENTA
LGND	+ 0.76	CRNX
RVMD	+ 0.72	CRNX
LYEL	+ 0.67	ORIC
DSGN	+ 0.64	LGND

High negative correlations

LGND	- 0.71	CNTB
RVMD	- 0.65	CNTB
RVMD	- 0.62	ENTA
DSGN	- 0.56	CNTB
LYEL	- 0.51	LGND
RVMD	- 0.5	FOLD

Risk-Adjusted Indicators

There is a big difference between Johnson Stock performing well and Johnson Johnson 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 Johnson Johnson'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
CRNX	1.72	(0.02)	(0.01)	0.10	2.47	(1.60)	3.67	(3.45)	16.75
ENTA	2.15	(0.68)	0.00	(1.00)	0.00	0.00	3.68	(4.76)	11.52
FOLD	1.55	(0.22)	0.00	(0.33)	0.00	0.00	3.16	(3.58)	18.26
CNTB	4.75	0.09	0.04	0.18	5.44	(5.95)	12.12	(9.01)	48.67
LGND	1.87	0.04	0.04	0.15	2.44	(1.89)	4.11	(4.58)	17.78
PASG	6.16	0.76	0.15	0.37	5.91	(7.95)	12.07	(10.45)	32.24
ORIC	2.76	(0.22)	(0.02)	0.01	4.34	(2.49)	5.64	(5.18)	23.18
LYEL	4.85	(0.88)	0.00	(0.11)	0.00	0.00	13.39	(9.47)	36.92
DSGN	3.92	0.21	0.07	0.21	5.08	(4.31)	9.43	(7.45)	35.31
RVMD	1.99	0.34	0.15	0.44	2.00	(2.17)	4.81	(3.24)	10.95

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC