Bristol Myers Correlations
| BMY Stock | USD 58.05 0.20 0.35% |
The correlation of Bristol Myers is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Bristol Myers moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Bristol Myers Squibb moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bristol Myers Squibb. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Bristol |
The ability to find closely correlated positions to Bristol Myers could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bristol Myers when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Bristol Myers - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Bristol Myers Squibb to buy it.
Moving together with Bristol Stock
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| + | 0.68 | VERV | Verve Therapeutics | Report 6th of November 2023 | PairCorr | |
| + | 0.71 | DRMA | Dermata Therapeutics | Report 9th of November 2023 | PairCorr |
Moving against Bristol Stock
| - | 0.79 | DNTH | Dianthus Therapeutics | Symbol Change | PairCorr | |
| - | 0.62 | GSK | GlaxoSmithKline PLC ADR | Report 1st of November 2023 | PairCorr | |
| - | 0.6 | LLY | Eli Lilly And | Report 7th of November 2023 | PairCorr | |
| - | 0.58 | EQRX | EQRx Inc | Report 9th of November 2023 | PairCorr |
Related Correlations Analysis
IBM | BAC | AXP | XOM | MMM | CVX | AA | ||
IBM | -0.13 | -0.76 | 0.72 | 0.3 | 0.75 | -0.66 | IBM | |
BAC | -0.13 | 0.55 | -0.55 | 0.66 | -0.39 | 0.69 | BAC | |
AXP | -0.76 | 0.55 | -0.83 | 0.23 | -0.83 | 0.86 | AXP | |
XOM | 0.72 | -0.55 | -0.83 | -0.21 | 0.95 | -0.8 | XOM | |
MMM | 0.3 | 0.66 | 0.23 | -0.21 | -0.07 | 0.36 | MMM | |
CVX | 0.75 | -0.39 | -0.83 | 0.95 | -0.07 | -0.72 | CVX | |
AA | -0.66 | 0.69 | 0.86 | -0.8 | 0.36 | -0.72 | AA | |
IBM | BAC | AXP | XOM | MMM | CVX | AA |
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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 | High negative correlations |
Risk-Adjusted Indicators
There is a big difference between Bristol Stock performing well and Bristol Myers 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 Bristol Myers' 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 | Information Ratio | Expected Shortfall | Potential Upside | Value At@Risk | Maximum Drawdown | |
|---|---|---|---|---|---|---|---|---|---|---|
| IBM | 0.63 | 0.12 | 0.16 | 0.15 | 0.77 | 0.17 | (0.65) | 1.35 | (1.40) | 4.47 |
| BAC | 1.09 | 0.00 | 0.00 | (0.06) | 0.00 | (0.027) | 0.00 | 1.87 | (2.42) | 7.62 |
| AXP | 0.90 | (0.15) | 0.00 | (0.20) | 0.00 | (0.13) | 0.00 | 1.51 | (2.47) | 5.60 |
| XOM | 1.09 | 0.19 | 0.12 | 0.14 | 1.40 | 0.14 | (1.06) | 2.10 | (1.83) | 5.53 |
| MMM | 1.18 | (0.03) | 0.00 | (0.08) | 0.00 | (0.0338) | 0.00 | 2.56 | (2.36) | 11.04 |
| CVX | 0.87 | 0.16 | 0.15 | 0.12 | 1.00 | 0.14 | (0.95) | 1.97 | (2.06) | 5.94 |
| AA | 2.40 | (0.06) | 0.00 | (0.08) | 0.00 | (0.0467) | 0.00 | 4.78 | (5.79) | 11.59 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Bristol Myers without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Bristol Myers Corporate Directors
Bristol Myers corporate directors refer to members of a Bristol Myers board of directors. The board of directors generally takes responsibility for the Bristol Myers' affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Bristol Myers' board members must vote for the resolution. The Bristol Myers board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Togo West | Independent Director | Profile | |
| Michael Bonney | Independent Director | Profile | |
| Alan Lacy | Independent Director | Profile | |
| Robert Bertolini | Independent Director | Profile |
Already Invested in Bristol Myers Squibb?
The danger of trading Bristol Myers Squibb is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Bristol Myers is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Bristol Myers. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Bristol-Myers Squibb is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Bristol Myers Squibb. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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When running Bristol Myers' price analysis, check to measure Bristol Myers' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Bristol Myers is operating at the current time. Most of Bristol Myers' value examination focuses on studying past and present price action to predict the probability of Bristol Myers' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Bristol Myers' price. Additionally, you may evaluate how the addition of Bristol Myers to your portfolios can decrease your overall portfolio volatility.
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Is Bristol Myers' industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Bristol Myers. If investors know Bristol will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Bristol Myers listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.5 | Dividend Share 2.25 | Earnings Share 3.76 | Revenue Per Share 21.436 | Quarterly Revenue Growth (0.06) |
The market value of Bristol-Myers Squibb is measured differently than its book value, which is the value of Bristol that is recorded on the company's balance sheet. Investors also form their own opinion of Bristol Myers' value that differs from its market value or its book value, called intrinsic value, which is Bristol Myers' true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Bristol Myers' market value can be influenced by many factors that don't directly affect Bristol Myers' underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Bristol Myers' value and its price as these two are different measures arrived at by different means. Investors typically determine if Bristol Myers is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Bristol Myers' 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.