Colgate Palmolive Correlations

Stocks . USA . 
Stock . Colgate Palmolive
CL Stock  USD 86.84  0.12  0.14%   
The current 90-days correlation between Colgate Palmolive and Unilever PLC ADR is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Colgate Palmolive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Colgate Palmolive moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Colgate Palmolive Correlation With Market

Average diversification

The correlation between Colgate Palmolive and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Colgate Palmolive 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 Colgate Palmolive. 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 more information on how to buy Colgate Stock please use our How to buy in Colgate Stock guide.

Moving together with Colgate Stock

  0.7PG Procter GamblePairCorr
  0.61UL Unilever PLC ADRPairCorr
  0.64CHD Church DwightPairCorr
  0.61KMB Kimberly ClarkPairCorr

Moving against Colgate Stock

  0.5ODC Oil DriPairCorr
  0.49YSG Yatsen HoldingPairCorr
  0.48EL Estee Lauder Companies Earnings Call TomorrowPairCorr
  0.44ELF ELF Beauty Buyout TrendPairCorr
  0.44NWL Newell BrandsPairCorr
  0.43IPAR Inter ParfumsPairCorr
  0.39NUS Nu Skin EnterprisesPairCorr
  0.35EWCZ European Wax CenterPairCorr
  0.31CENTA Central Garden PetPairCorr
  0.64SLSN Solesence, Common StockPairCorr
  0.61YQ 17 Education TechnologyPairCorr
  0.57NAII Natural AlternativesPairCorr
  0.54DLTR Dollar TreePairCorr
  0.53TKLF YoshitsuPairCorr
  0.48NATR Natures Sunshine ProductsPairCorr
  0.44PM Philip Morris Intern Earnings Call TomorrowPairCorr
  0.41SKIN Beauty HealthPairCorr
  0.36TR Tootsie Roll Industries Earnings Call This WeekPairCorr

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   
KMB
+ 0.88
PG
UL
+ 0.71
PG
RBGLY
+ 0.58
EL
CHD
+ 0.56
PG
KMB
+ 0.54
UL
KMB
+ 0.42
CHD
  
High negative correlations   
EL
- 0.78
CLX
RBGLY
- 0.75
CLX
EL
- 0.62
UL
EL
- 0.58
PG
EL
- 0.49
KMB
EL
- 0.13
CHD

Risk-Adjusted Indicators

There is a big difference between Colgate Stock performing well and Colgate Palmolive 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 Colgate Palmolive'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.

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