Alcon AG Correlations

ALC Stock

USD 89.83 2.16 2.46%

The current 90-days correlation between Alcon AG and ResMed Inc is 0.41 (i.e., Very weak diversification). The correlation of Alcon AG 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.

Alcon AG Correlation With Market

Poor diversification

The correlation between Alcon AG and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alcon AG and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alcon AG. 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 information on how to trade Alcon Stock refer to our How to Trade Alcon Stock guide.

Moving against Alcon Stock

0.36	VTAK	Catheter Precision	Pair Corr
0.36	WORX	Scworx Corp	Pair Corr
0.36	FOXO	FOXO Technologies	Pair Corr

Related Correlations Analysis

	TFX	WST	RMD	ICUI	COO	ANGO	ATR	BLFS	HAE	MMSI
TFX		0.2	0.08	0.83	0.6	0.72	-0.21	0.66	0.04	0.66	TFX
WST	0.2		0.09	0.19	0.39	0.15	0.05	0.37	0.26	0.44	WST
RMD	0.08	0.09		0.1	0.47	-0.03	0.74	0.23	0.7	0.21	RMD
ICUI	0.83	0.19	0.1		0.58	0.76	-0.19	0.65	0.12	0.7	ICUI
COO	0.6	0.39	0.47	0.58		0.44	0.23	0.64	0.41	0.7	COO
ANGO	0.72	0.15	-0.03	0.76	0.44		-0.15	0.55	-0.11	0.68	ANGO
ATR	-0.21	0.05	0.74	-0.19	0.23	-0.15		0.12	0.72	0.12	ATR
BLFS	0.66	0.37	0.23	0.65	0.64	0.55	0.12		0.36	0.73	BLFS
HAE	0.04	0.26	0.7	0.12	0.41	-0.11	0.72	0.36		0.41	HAE
MMSI	0.66	0.44	0.21	0.7	0.7	0.68	0.12	0.73	0.41		MMSI
	TFX	WST	RMD	ICUI	COO	ANGO	ATR	BLFS	HAE	MMSI

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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

ICUI	+ 0.83	TFX
ANGO	+ 0.76	ICUI
ATR	+ 0.74	RMD
MMSI	+ 0.73	BLFS
ANGO	+ 0.72	TFX
HAE	+ 0.72	ATR

High negative correlations

ATR	- 0.21	TFX
ATR	- 0.19	ICUI
ATR	- 0.15	ANGO
HAE	- 0.11	ANGO
ANGO	- 0.03	RMD

Risk-Adjusted Indicators

There is a big difference between Alcon Stock performing well and Alcon AG 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 Alcon AG'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
TFX	1.96	(0.30)	0.00	(0.45)	0.00	0.00	3.24	(4.51)	24.93
WST	2.59	(0.39)	0.00	(0.64)	0.00	0.00	4.49	(4.25)	38.22
RMD	1.47	0.16	0.09	0.15	1.86	(1.64)	3.30	(3.83)	10.84
ICUI	2.30	(0.05)	0.00	(0.11)	0.00	0.00	4.37	(5.33)	21.09
COO	1.81	(0.08)	0.00	(0.14)	0.00	0.00	2.77	(5.63)	12.20
ANGO	2.67	(0.04)	0.00	(0.09)	0.00	0.00	6.11	(4.32)	22.00
ATR	1.24	0.21	0.14	0.20	1.48	(1.41)	2.38	(1.78)	9.63
BLFS	3.35	(0.01)	0.00	(0.06)	0.00	0.00	7.08	(6.95)	20.54
HAE	1.62	0.27	0.15	0.26	1.68	(1.84)	3.77	(2.88)	11.79
MMSI	1.63	(0.05)	0.00	(0.09)	0.00	0.00	2.95	(2.98)	14.62

Alcon AG Corporate Management

Royce Bedward	General VP	Profile
Dieter Spaelti	Independent Director	Profile
Daniel Cravens	Vice Relations	Profile
Michael Onuscheck	President - Global Businesses and Innovation	Profile
Ed McGough	Senior Operations	Profile

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