SCG PACKAGING Correlations

5Y7A Stock

EUR 0.58 0.01 1.69%

The current 90-days correlation between SCG PACKAGING FGN and Packaging of is 0.03 (i.e., Significant diversification). The correlation of SCG PACKAGING 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.

SCG PACKAGING Correlation With Market

Very good diversification

The correlation between SCG PACKAGING FGN and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SCG PACKAGING FGN and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SCG PACKAGING could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SCG PACKAGING 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 SCG PACKAGING - 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 SCG PACKAGING FGN to buy it.

Moving together with SCG Stock

0.84	PKX	POSCO Holdings	Pair Corr
0.66	LGLG	LG Electronics	Pair Corr

Moving against SCG Stock

0.75	5EE	MEBUKI FINANCIAL	Pair Corr
0.7	PKA	Packagingof America	Pair Corr
0.66	AGT	AptarGroup	Pair Corr
0.64	BP0	Berry Global Group	Pair Corr
0.62	SK3	Smurfit Kappa Group	Pair Corr
0.53	4FK	Fukuoka Financial	Pair Corr
0.46	4W8	Graphic Packaging Holding	Pair Corr
0.43	SIX2	Sixt SE	Pair Corr

Related Correlations Analysis

	PKA	SK3	8SP	39O1	INVN	IUI1	INL	VOW	RS6
PKA		0.85	-0.89	-0.12	0.93	0.94	0.86	-0.92	0.94	PKA
SK3	0.85		-0.74	-0.15	0.77	0.79	0.75	-0.82	0.85	SK3
8SP	-0.89	-0.74		0.29	-0.77	-0.85	-0.75	0.85	-0.81	8SP
39O1	-0.12	-0.15	0.29		-0.01	-0.26	0.13	0.3	-0.07	39O1
INVN	0.93	0.77	-0.77	-0.01		0.89	0.81	-0.84	0.9	INVN
IUI1	0.94	0.79	-0.85	-0.26	0.89		0.76	-0.89	0.92	IUI1
INL	0.86	0.75	-0.75	0.13	0.81	0.76		-0.69	0.87	INL
VOW	-0.92	-0.82	0.85	0.3	-0.84	-0.89	-0.69		-0.88	VOW
RS6	0.94	0.85	-0.81	-0.07	0.9	0.92	0.87	-0.88		RS6
	PKA	SK3	8SP	39O1	INVN	IUI1	INL	VOW	RS6

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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

IUI1	+ 0.94	PKA
RS6	+ 0.94	PKA
INVN	+ 0.93	PKA
RS6	+ 0.92	IUI1
RS6	+ 0.9	INVN
IUI1	+ 0.89	INVN

High negative correlations

VOW	- 0.92	PKA
VOW	- 0.89	IUI1
8SP	- 0.89	PKA
RS6	- 0.88	VOW
IUI1	- 0.85	8SP
VOW	- 0.84	INVN

Risk-Adjusted Indicators

There is a big difference between SCG Stock performing well and SCG PACKAGING 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 SCG PACKAGING'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
PKA	0.85	0.33	0.28	(8.00)	0.20	(1.13)	2.53	(0.98)	7.44
SK3	2.03	0.31	0.13	1.11	1.49	(2.92)	5.82	(2.93)	19.69
8SP	2.05	(0.27)	0.00	(0.13)	0.00	0.00	3.36	(4.74)	20.22
39O1	3.51	(0.07)	0.00	0.08	3.50	(4.94)	8.41	(5.47)	24.06
INVN	2.04	0.26	0.07	0.83	2.11	(2.48)	5.59	(4.04)	14.01
IUI1	1.24	0.13	0.07	0.31	1.10	(1.46)	3.28	(1.96)	10.30
INL	2.44	0.18	0.07	0.31	2.38	(3.09)	6.80	(3.69)	13.89
VOW	1.22	(0.32)	0.00	17.01	0.00	0.00	2.08	(2.99)	9.42
RS6	1.35	0.04	0.10	0.15	1.33	(1.60)	2.94	(2.17)	13.51

Be your own money manager

Our tools can tell you how much better you can do entering a position in SCG PACKAGING 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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