McKesson Europe Related Correlations

Summary

CAKFYDelisted Stock

USD 4.10 0.00 0.00%

Generate correlation matrix for McKesson Europe and other related equities to check the degree to which McKesson Europe AG price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for McKesson Europe AG. To filter out specific equities, please toggle its corresponding legend item. Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in census.

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Please note, there is a significant difference between McKesson Europe's value and its price as these two are different measures arrived at by different means. Investors typically determine if McKesson Europe is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, McKesson Europe's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Correlations

	NIPMY	ABG	MNSO	STKL	CPNG	CHPT	MRRTY
NIPMY		0.06	0.71	-0.33	0.77	-0.68	-0.08	NIPMY
ABG	0.06		0.41	0.09	0.06	-0.08	0.34	ABG
MNSO	0.71	0.41		-0.16	0.8	-0.72	0.37	MNSO
STKL	-0.33	0.09	-0.16		-0.1	0.0	0.42	STKL
CPNG	0.77	0.06	0.8	-0.1		-0.83	0.36	CPNG
CHPT	-0.68	-0.08	-0.72	0.0	-0.83		-0.34	CHPT
MRRTY	-0.08	0.34	0.37	0.42	0.36	-0.34		MRRTY
	NIPMY	ABG	MNSO	STKL	CPNG	CHPT	MRRTY

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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

CPNG	+ 0.8	MNSO
CPNG	+ 0.77	NIPMY
MNSO	+ 0.71	NIPMY
MRRTY	+ 0.42	STKL
MNSO	+ 0.41	ABG
MRRTY	+ 0.37	MNSO

High negative correlations

CHPT	- 0.83	CPNG
CHPT	- 0.72	MNSO
CHPT	- 0.68	NIPMY
MRRTY	- 0.34	CHPT
STKL	- 0.33	NIPMY
STKL	- 0.16	MNSO

Risk-Adjusted Indicators

There is a big difference between McKesson Pink Sheet performing well and McKesson Europe 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 McKesson Europe'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
NIPMY	0.23	0.10	0.00	1.06	0.00	0.00	0.00	0.00	7.62
ABG	1.47	0.10	0.03	0.41	1.90	(1.48)	3.63	(3.41)	8.82
MNSO	2.36	0.64	0.20	3.10	2.36	(2.54)	6.35	(3.34)	16.65
STKL	2.21	(0.05)	0.00	(0.44)	0.00	0.00	3.83	(4.13)	26.24
CPNG	1.80	0.77	0.22	(0.92)	2.18	(2.05)	4.37	(3.11)	20.75
CHPT	3.32	(0.24)	0.00	(0.25)	0.00	0.00	7.69	(6.31)	20.56
MRRTY	2.63	0.22	0.03	(0.30)	2.93	(3.18)	5.71	(4.92)	17.34

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McKesson Europe Related Correlations

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