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Benchmark SP 500  1,629   22.88  Index Moved Down -1.39% United States ...


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Asset Comparison and Correlation

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Investment horizon: 
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 Abbott Laboratories  vs   Johnson & Johnson
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Daily Returns (%)
JNJ   ABT   
 
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Considering 30-days investment horizon, Abbott Laboratories is expected to generate 1.34 times more return on investment than Johnson. However, Abbott is 1.34 times more volatile than Johnson Johnson. It trades about -0.02 of its potential returns per unit of risk. Johnson Johnson is currently generating about -0.09 per unit of risk. If you would invest  3,772  in Abbott Laboratories on May 20, 2013 and sell it today you would lose (21.00) from holding Abbott Laboratories or give up 0.56% of portfolio value over 30 days.

Diversification

Very poor diversification
Overlapping area represents amount of risk that can be diversified away by holding Abbott Laboratories and Johnson & Johnson in the same portfolio assuming nothing else is changed

Correlation Coefficient

0.81
Parameters
Time Period1 Month [change]
DirectionPositive JNJ Moved Up vs ABT
StrengthStrong
Accuracy100.0%
ValuesDaily Returns
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Abbott Laboratories

Alpha
 
Profile
    
Abbott
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days Abbott Laboratories has generated negative risk-adjusted returns adding no value to investors with long positions.
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Johnson Johnson

Alpha
 
Profile
    
Johnson
Performance
0
Out Of
100
Over 30
Days
?
Over the last 30 days Johnson Johnson has generated negative risk-adjusted returns adding no value to investors with long positions.
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Backtest
Predict Price
    

Match-ups for Johnson

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