Berry Global Correlations

BERY Stock

USD 68.35 0.09 0.13%

The current 90-days correlation between Berry Global Group and Greif Bros is 0.67 (i.e., Poor diversification). The correlation of Berry Global 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Berry Global Correlation With Market

Modest diversification

The correlation between Berry Global Group and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Berry Global Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Berry Global Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Berry Stock

0.76	IP	International Paper	Pair Corr
0.71	SW	Smurfit WestRock plc Earnings Call This Week	Pair Corr
0.74	GEF	Greif Bros	Pair Corr
0.69	KRT	Karat Packaging	Pair Corr
0.85	PKG	Packaging Corp Sell-off Trend	Pair Corr
0.62	PACK	Ranpak Holdings Corp Trending	Pair Corr
0.88	SLGN	Silgan Holdings	Pair Corr
0.75	DRVN	Driven Brands Holdings	Pair Corr
0.61	WPRT	Westport Fuel Systems	Pair Corr
0.69	FLUT	Flutter Entertainment plc	Pair Corr
0.69	AIN	Albany International	Pair Corr

Moving against Berry Stock

0.59	FIGS	Figs Inc	Pair Corr
0.53	FRZA	Forza X1	Pair Corr
0.53	IPW	iPower Inc	Pair Corr
0.42	DSS	DSS Inc	Pair Corr
0.34	HBB	Hamilton Beach Brands	Pair Corr
0.31	IVP	Inspire Veterinary	Pair Corr

Related Correlations Analysis

	GEF	SON	REYN	MYE	SEE	CCK	OI	PKG	SLGN
GEF		0.66	0.29	0.22	0.61	0.59	0.79	0.77	0.89	GEF
SON	0.66		0.73	0.53	0.79	0.76	0.65	0.3	0.47	SON
REYN	0.29	0.73		0.6	0.56	0.57	0.44	0.08	0.12	REYN
MYE	0.22	0.53	0.6		0.63	0.49	0.29	0.15	0.17	MYE
SEE	0.61	0.79	0.56	0.63		0.74	0.63	0.4	0.51	SEE
CCK	0.59	0.76	0.57	0.49	0.74		0.82	0.39	0.39	CCK
OI	0.79	0.65	0.44	0.29	0.63	0.82		0.52	0.55	OI
PKG	0.77	0.3	0.08	0.15	0.4	0.39	0.52		0.75	PKG
SLGN	0.89	0.47	0.12	0.17	0.51	0.39	0.55	0.75		SLGN
	GEF	SON	REYN	MYE	SEE	CCK	OI	PKG	SLGN

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Risk-Adjusted Indicators

There is a big difference between Berry Stock performing well and Berry Global 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 Berry Global'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
GEF	1.18	(0.03)	(0.04)	0.01	1.51	(1.23)	2.59	(2.32)	11.60
SON	0.90	(0.16)	0.00	(0.25)	0.00	0.00	1.96	(2.04)	5.06
REYN	0.89	(0.16)	0.00	(0.42)	0.00	0.00	1.28	(1.91)	6.65
MYE	2.15	0.00	(0.02)	0.00	2.42	(2.40)	3.75	(4.06)	12.86
SEE	1.13	(0.02)	0.00	0.76	0.00	0.00	1.99	(2.44)	6.42
CCK	0.94	(0.17)	0.00	(0.24)	0.00	0.00	1.66	(2.11)	5.82
OI	2.05	(0.14)	0.00	(0.06)	0.00	0.00	4.86	(4.13)	12.01
PKG	0.84	(0.12)	0.00	(0.17)	0.00	0.00	1.21	(1.43)	5.78
SLGN	0.90	0.12	0.06	0.53	0.92	(0.99)	1.66	(1.86)	5.76

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