Clorox Correlations

Stocks . USA . 
Stock . The Clorox
CLX Stock  USD 128.37  0.89  0.69%   
The current 90-days correlation between Clorox and Church Dwight is 0.68 (i.e., Poor diversification). The correlation of Clorox 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.

Clorox Correlation With Market

Very weak diversification

The correlation between The Clorox and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Clorox 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 The Clorox. 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.

Moving together with Clorox Stock

  0.94EPC Edgewell Personal CarePairCorr
  0.88SPB Spectrum Brands HoldingsPairCorr
  0.7KVUE Kenvue Inc Aggressive PushPairCorr
  0.67NHTC Natural Health TrendPairCorr
  0.65SHOT Safety ShotPairCorr

Moving against Clorox Stock

  0.92ELF ELF Beauty Buyout TrendPairCorr
  0.89ODC Oil DriPairCorr
  0.89YSG Yatsen HoldingPairCorr
  0.83EWCZ European Wax CenterPairCorr
  0.81IPAR Inter ParfumsPairCorr
  0.78EL Estee Lauder Companies Earnings Call This WeekPairCorr
  0.76NUS Nu Skin EnterprisesPairCorr
  0.7VERU Veru IncPairCorr
  0.58MED MEDIFAST INCPairCorr
  0.46NWL Newell BrandsPairCorr
  0.89DG Dollar GeneralPairCorr
  0.82PM Philip Morris Intern Earnings Call This WeekPairCorr
  0.81SLSN Solesence, Common StockPairCorr
  0.81DLTR Dollar TreePairCorr
  0.75SKIN Beauty HealthPairCorr
  0.72NATR Natures Sunshine ProductsPairCorr
  0.71NAII Natural AlternativesPairCorr
  0.7DTCK Davis CommoditiesPairCorr
  0.63YQ 17 Education TechnologyPairCorr

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
+ 0.89
PG
UL
+ 0.71
PG
PG
+ 0.7
CL
EL
+ 0.67
RBGLY
CHD
+ 0.64
CL
UL
+ 0.61
CL
  
High negative correlations   
EL
- 0.62
UL
EL
- 0.57
PG
EL
- 0.49
KMB
EL
- 0.48
CL
RBGLY
- 0.28
CL
RBGLY
- 0.23
KMB

Risk-Adjusted Indicators

There is a big difference between Clorox Stock performing well and Clorox 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 Clorox'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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