MERCK Correlations

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105.99 0.61 0.58%

The current 90-days correlation between MERCK INC 595 and SFL Corporation is -0.1 (i.e., Good diversification). The correlation of MERCK 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.

MERCK Correlation With Market

Good diversification

The correlation between MERCK INC 595 and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MERCK INC 595 and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MERCK could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MERCK 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 MERCK - 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 MERCK INC 595 to buy it.

Moving against MERCK Bond

0.8	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.75	BAC	Bank of America Aggressive Push	Pair Corr
0.72	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.65	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.63	VRT	Vertiv Holdings	Pair Corr
0.63	NDAQ	Nasdaq Inc	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.6	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.58	WMT	Walmart Aggressive Push	Pair Corr
0.56	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.51	T	ATT Inc Aggressive Push	Pair Corr
0.45	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.35	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.34	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	SFL	CAKE	BTBD	WAVS	PLAY	CHMN	EGO	SABR
SFL		-0.66	0.17	-0.3	-0.63	0.0	0.56	-0.28	SFL
CAKE	-0.66		-0.06	0.54	0.82	0.0	-0.49	0.66	CAKE
BTBD	0.17	-0.06		0.34	0.16	0.0	0.35	0.23	BTBD
WAVS	-0.3	0.54	0.34		0.68	0.0	0.13	0.67	WAVS
PLAY	-0.63	0.82	0.16	0.68		0.0	-0.25	0.64	PLAY
CHMN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CHMN
EGO	0.56	-0.49	0.35	0.13	-0.25	0.0		0.02	EGO
SABR	-0.28	0.66	0.23	0.67	0.64	0.0	0.02		SABR
	SFL	CAKE	BTBD	WAVS	PLAY	CHMN	EGO	SABR

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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

PLAY	+ 0.82	CAKE
PLAY	+ 0.68	WAVS
SABR	+ 0.67	WAVS
SABR	+ 0.66	CAKE
SABR	+ 0.64	PLAY
EGO	+ 0.56	SFL

High negative correlations

CAKE	- 0.66	SFL
PLAY	- 0.63	SFL
EGO	- 0.49	CAKE
WAVS	- 0.3	SFL
SABR	- 0.28	SFL
EGO	- 0.25	PLAY

Risk-Adjusted Indicators

There is a big difference between MERCK Bond performing well and MERCK 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 MERCK'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
SFL	1.13	(0.11)	0.00	5.25	0.00	0.00	2.23	(2.52)	4.87
CAKE	1.77	0.20	0.12	0.29	1.65	(2.09)	4.75	(3.10)	13.08
BTBD	3.33	0.15	0.01	0.83	3.58	(4.26)	9.33	(6.45)	21.24
WAVS	1.08	0.10	(0.02)	(0.22)	1.55	(2.05)	3.35	(3.25)	12.07
PLAY	2.62	0.06	0.07	0.14	2.76	(3.11)	6.61	(4.57)	14.95
CHMN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EGO	1.92	(0.18)	0.00	(0.55)	0.00	0.00	3.39	(5.22)	12.12
SABR	2.28	0.38	0.06	3.59	4.50	(2.33)	5.33	(3.43)	30.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in MERCK 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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