International Paper Correlations

INPAP Stock

USD 86.00 0.00 0.00%

The current 90-days correlation between International Paper and Bridgestone is -0.17 (i.e., Good diversification). The correlation of International Paper 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.

International Paper Correlation With Market

Significant diversification

The correlation between International Paper and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Paper and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with International Pink Sheet

0.79	PTXLF	PTT Exploration And	Pair Corr
0.75	BULL	Webull Corp Aggressive Push	Pair Corr
0.68	HPQ	HP Inc	Pair Corr
0.78	HD	Home Depot	Pair Corr

Moving against International Pink Sheet

0.74	ERHE	ERHC Energy	Pair Corr
0.65	FTV	Fortive Corp	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.91	DD	Dupont De Nemours	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.68	KO	Coca Cola	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.64	IBM	International Business	Pair Corr
0.6	BAC	Bank of America	Pair Corr
0.52	MMM	3M Company	Pair Corr
0.51	AXP	American Express	Pair Corr
0.51	MCD	McDonalds	Pair Corr
0.43	JPM	JPMorgan Chase Earnings Call Next Week	Pair Corr
0.4	WMT	Walmart Common Stock Sell-off Trend	Pair Corr

Related Correlations Analysis

	BRDCF	ANPDF	SZKMY	SZKMF	SMTOY	ARLUF	AMCCF	ANPDY	HMRZF	BRDCY
BRDCF		0.16	0.11	-0.05	0.0	0.03	0.12	0.05	-0.24	0.16	BRDCF
ANPDF	0.16		0.47	0.44	-0.29	0.26	0.0	0.4	-0.3	0.33	ANPDF
SZKMY	0.11	0.47		0.58	0.11	-0.23	0.38	0.31	0.17	0.41	SZKMY
SZKMF	-0.05	0.44	0.58		0.18	-0.25	0.38	0.13	0.17	0.25	SZKMF
SMTOY	0.0	-0.29	0.11	0.18		-0.69	0.66	-0.61	0.68	0.37	SMTOY
ARLUF	0.03	0.26	-0.23	-0.25	-0.69		-0.63	0.31	-0.52	-0.18	ARLUF
AMCCF	0.12	0.0	0.38	0.38	0.66	-0.63		-0.35	0.44	0.37	AMCCF
ANPDY	0.05	0.4	0.31	0.13	-0.61	0.31	-0.35		-0.37	-0.08	ANPDY
HMRZF	-0.24	-0.3	0.17	0.17	0.68	-0.52	0.44	-0.37		0.32	HMRZF
BRDCY	0.16	0.33	0.41	0.25	0.37	-0.18	0.37	-0.08	0.32		BRDCY
	BRDCF	ANPDF	SZKMY	SZKMF	SMTOY	ARLUF	AMCCF	ANPDY	HMRZF	BRDCY

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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

HMRZF	+ 0.68	SMTOY
AMCCF	+ 0.66	SMTOY
SZKMF	+ 0.58	SZKMY
SZKMY	+ 0.47	ANPDF
SZKMF	+ 0.44	ANPDF
HMRZF	+ 0.44	AMCCF

High negative correlations

ARLUF	- 0.69	SMTOY
AMCCF	- 0.63	ARLUF
ANPDY	- 0.61	SMTOY
HMRZF	- 0.52	ARLUF
HMRZF	- 0.37	ANPDY
ANPDY	- 0.35	AMCCF

Risk-Adjusted Indicators

There is a big difference between International Pink Sheet performing well and International Paper 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 International Paper'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
BRDCF	38.25	10.22	0.24	(2.89)	26.44	(63.96)	107.08	(52.65)	164.23
ANPDF	0.97	(0.17)	0.00	2.45	0.00	0.00	1.48	(4.55)	20.58
SZKMY	1.22	0.04	(0.03)	(0.17)	1.65	(1.26)	3.14	(3.48)	8.75
SZKMF	2.22	0.07	0.00	11.93	2.92	(2.23)	5.93	(4.35)	15.11
SMTOY	2.30	0.59	0.15	(8.68)	2.92	(2.38)	5.55	(4.58)	14.15
ARLUF	1.81	(0.24)	0.00	(0.37)	0.00	0.00	4.84	(4.83)	17.81
AMCCF	0.78	0.02	(0.01)	0.11	1.43	(2.90)	1.94	(2.61)	13.05
ANPDY	1.40	(0.25)	0.00	(0.16)	0.00	0.00	2.31	(2.57)	11.13
HMRZF	0.48	0.18	0.00	1.29	0.00	0.00	1.51	0.00	9.72
BRDCY	1.05	(0.04)	0.00	(0.32)	0.00	0.00	2.48	(2.35)	8.15

Be your own money manager

Our tools can tell you how much better you can do entering a position in International Paper 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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