BillerudKorsnäs Correlations

BLRDF Stock

USD 9.50 0.05 0.53%

The correlation of BillerudKorsnäs 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.

BillerudKorsnäs Correlation With Market

Significant diversification

The correlation between BillerudKorsns AB and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BillerudKorsns AB and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BillerudKorsnäs Pink Sheet

0.76

CVI

CVR Energy

Pair Corr

Moving against BillerudKorsnäs Pink Sheet

0.38	KLBAY	Klabin Sa A	Pair Corr
0.53	ASTE	Astec Industries	Pair Corr
0.49	ZWS	Zurn Elkay Water	Pair Corr
0.41	OPY	Oppenheimer Holdings Earnings Call Tomorrow	Pair Corr
0.4	CMCO	Columbus McKinnon Earnings Call This Week	Pair Corr
0.39	CBZ	CBIZ Inc	Pair Corr
0.38	TS	Tenaris SA ADR	Pair Corr
0.52	COHN	Cohen Company Normal Trading	Pair Corr
0.38	CAVR	CAVU Resources	Pair Corr
0.35	JEF	Jefferies Financial Normal Trading	Pair Corr

Related Correlations Analysis

	NIJPF	MONDF	OJIPY	NDGPY	OJIPF	NDGPF	CFPUF	SPPJY	MONDY
NIJPF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	NIJPF
MONDF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	MONDF
OJIPY	0.0	0.0		0.18	0.0	0.72	0.7	0.16	0.52	OJIPY
NDGPY	0.0	0.0	0.18		0.0	0.22	0.36	-0.13	0.68	NDGPY
OJIPF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	OJIPF
NDGPF	0.0	0.0	0.72	0.22	0.0		0.61	-0.11	0.45	NDGPF
CFPUF	0.0	0.0	0.7	0.36	0.0	0.61		0.33	0.61	CFPUF
SPPJY	0.0	0.0	0.16	-0.13	0.0	-0.11	0.33		0.13	SPPJY
MONDY	0.0	0.0	0.52	0.68	0.0	0.45	0.61	0.13		MONDY
	NIJPF	MONDF	OJIPY	NDGPY	OJIPF	NDGPF	CFPUF	SPPJY	MONDY

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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

NDGPF	+ 0.72	OJIPY
CFPUF	+ 0.7	OJIPY
MONDY	+ 0.68	NDGPY
CFPUF	+ 0.61	NDGPF
MONDY	+ 0.61	CFPUF
MONDY	+ 0.52	OJIPY

High negative correlations

SPPJY	- 0.13	NDGPY
SPPJY	- 0.11	NDGPF
MONDY	- 0.0	OJIPF
SPPJY	- 0.0	OJIPF
CFPUF	- 0.0	OJIPF
NDGPF	- 0.0	OJIPF

Risk-Adjusted Indicators

There is a big difference between BillerudKorsnäs Pink Sheet performing well and BillerudKorsnäs 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 BillerudKorsnäs' 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
NIJPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MONDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OJIPY	2.49	0.13	0.01	(0.15)	4.05	(9.44)	14.76	(11.79)	28.21
NDGPY	1.19	(0.18)	0.00	1.37	0.00	0.00	3.57	(3.97)	11.83
OJIPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NDGPF	1.61	(0.41)	0.00	(11.71)	0.00	0.00	5.26	(10.00)	21.88
CFPUF	1.86	(0.08)	0.00	0.22	0.00	0.00	5.88	(6.06)	27.69
SPPJY	2.92	0.51	0.15	1.55	2.56	(4.54)	7.19	(5.03)	21.66
MONDY	1.11	(0.13)	0.00	(0.33)	0.00	0.00	2.37	(2.72)	6.22

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Our tools can tell you how much better you can do entering a position in BillerudKorsnäs 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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BillerudKorsnäs Corporate Management

Matthew Hirst	Ex Sustainability	Profile
Lena Schattauer	Head of Investor Relations	Profile
Christoph MSc	Pres CEO	Profile
Erik Olsson	Ex Strategy	Profile
Tor Lundqvist	Ex Operations	Profile

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