Abbott Laboratories Correlations

ABT Stock

USD 123.67 3.16 2.62%

The current 90-days correlation between Abbott Laboratories and AbbVie Inc is 0.12 (i.e., Average diversification). The correlation of Abbott Laboratories 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Abbott Laboratories Correlation With Market

Average diversification

The correlation between Abbott Laboratories and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Abbott Laboratories and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Abbott Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Abbott Laboratories. 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 labor statistics.

For more information on how to buy Abbott Stock please use our How to Invest in Abbott Laboratories guide.

Moving against Abbott Stock

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0.41	ECOR	Electrocore LLC	Pair Corr
0.39	VERO	Venus Concept	Pair Corr
0.41	ELAB	Elevai Labs, Common	Pair Corr
0.4	ICCM	Icecure Medical	Pair Corr
0.38	EKSO	Ekso Bionics Holdings	Pair Corr
0.37	MSPRW	MSP Recovery Symbol Change	Pair Corr
0.48	NAOV	NanoVibronix	Pair Corr
0.38	MGRM	Monogram Orthopaedics Trending	Pair Corr
0.37	NXGLW	NexGel Warrant	Pair Corr
0.31	NXLIW	Nexalin Technology	Pair Corr

Related Correlations Analysis

	ABBV	LLY	BMY	JNJ	MDT
ABBV		0.27	0.18	0.39	0.53	ABBV
LLY	0.27		0.5	0.32	0.15	LLY
BMY	0.18	0.5		0.46	-0.02	BMY
JNJ	0.39	0.32	0.46		0.49	JNJ
MDT	0.53	0.15	-0.02	0.49		MDT
	ABBV	LLY	BMY	JNJ	MDT

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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

MDT	+ 0.53	ABBV
BMY	+ 0.5	LLY
MDT	+ 0.49	JNJ
JNJ	+ 0.46	BMY
JNJ	+ 0.39	ABBV
JNJ	+ 0.32	LLY

High negative correlations

MDT

- 0.02

BMY

Risk-Adjusted Indicators

There is a big difference between Abbott Stock performing well and Abbott Laboratories 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 Abbott Laboratories' 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
ABBV	1.25	(0.02)	(0.01)	0.11	1.76	(1.20)	2.66	(2.82)	8.99
LLY	1.87	(0.01)	(0.02)	0.12	3.25	(1.67)	3.65	(3.58)	25.96
BMY	1.39	(0.22)	0.00	(0.10)	0.00	0.00	2.06	(3.30)	8.99
JNJ	0.83	0.06	(0.03)	0.33	0.99	(0.89)	2.08	(1.40)	7.29
MDT	0.83	0.01	(0.02)	0.14	1.17	(0.79)	1.91	(2.00)	6.94

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