McCormick Company Correlations


USD 83.75  1.43  1.68%   

The correlation of McCormick Company 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 McCormick Company moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if McCormick Company Incorporated 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.
Additionally, see Correlation Analysis.
The ability to find closely correlated positions to McCormick Company could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace McCormick Company 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 McCormick Company - 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 McCormick Company Incorporated to buy it.

Moving together with McCormick Company

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Moving against McCormick Company

-0.65FTFTFuture Fintech GroupPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   

McCormick Company Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between McCormick Etf performing well and McCormick Company ETF doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze McCormick Company's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
At Risk
PG 0.99  0.04  0.02  0.14  1.19  0.0164 (1.00)  1.83 (2.07)  4.27 
DD 1.80  0.24  0.14  0.28  1.53  0.11 (2.10)  3.91 (2.55)  10.00 
CAT 1.64  0.27  0.15  0.30  1.48  0.12 (1.87)  4.36 (2.70)  9.57 
VZ 1.21 (0.17)  0.00 (0.21)  0.00 (0.13)  0.00  2.21 (2.35)  7.59 
AA 3.76 (0.19)  0.00 (0.02)  0.00 (0.0237)  0.00  7.74 (7.61)  18.72 
DIS 2.00 (0.29)  0.00 (0.14)  0.00 (0.09)  0.00  4.28 (3.22)  17.60 
CSCO 1.35  0.08  0.05  0.15  1.34  0.0458 (1.54)  3.23 (1.96)  6.31 
WMT 1.04  0.17  0.11  0.36  1.08  0.1 (1.16)  2.18 (2.33)  6.89 
CVX 1.54  0.12  0.06  0.19  1.95  0.06 (1.56)  3.37 (2.91)  9.61 

Be your own money manager

Our tools can tell you how much better you can do entering a position in McCormick Company 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.

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Invested in McCormick Company Incorporated?

The danger of trading McCormick Company Incorporated is mainly related to its market volatility and ETF 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 McCormick Company 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 McCormick Company. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile McCormick Incorporated 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.
Additionally, see Correlation Analysis. You can also try ETF Directory module to find actively traded Exchange Traded Funds (ETF) from around the world.

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When running McCormick Incorporated price analysis, check to measure McCormick Company's 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 McCormick Company is operating at the current time. Most of McCormick Company's value examination focuses on studying past and present price action to predict the probability of McCormick Company's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move McCormick Company's price. Additionally, you may evaluate how the addition of McCormick Company to your portfolios can decrease your overall portfolio volatility.
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The market value of McCormick Incorporated is measured differently than its book value, which is the value of McCormick that is recorded on the company's balance sheet. Investors also form their own opinion of McCormick Company's value that differs from its market value or its book value, called intrinsic value, which is McCormick Company's 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 McCormick Company's market value can be influenced by many factors that don't directly affect McCormick Company's 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 McCormick Company's value and its price as these two are different measures arrived at by different means. Investors typically determine McCormick Company value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, McCormick Company'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.