Bausch Correlations

071734AJ6   57.66  0.32  0.55%   
The current 90-days correlation between Bausch Health Companies and Asbury Automotive Group is -0.27 (i.e., Very good diversification). The correlation of Bausch 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.

Bausch Correlation With Market

Good diversification

The correlation between Bausch Health Companies 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 Bausch Health Companies and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Bausch could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bausch 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 Bausch - 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 Bausch Health Companies to buy it.

Moving together with Bausch Bond

  0.66DIS Walt DisneyPairCorr
  0.7TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.65T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.71AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.78BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.81JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr

Moving against Bausch Bond

  0.8KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.67PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.49BA Boeing Buyout TrendPairCorr
  0.48MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr

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   
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STKLABG
STKLCAH
LFVNABG
LFVNCAH
LFVNSTKL
  
High negative correlations   
BRIDTBBB
STKLTBBB
TBBBVLGEA
CAHTBBB
TBBBABG

Risk-Adjusted Indicators

There is a big difference between Bausch Bond performing well and Bausch 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 Bausch'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Bausch 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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Risk-Return Analysis

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