International Paper Correlations

IP Stock

USD 43.55 0.42 0.97%

The current 90-days correlation between International Paper and Smurfit WestRock plc is 0.72 (i.e., Poor 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

Poor diversification

The correlation between International Paper and DJI is 0.79 (i.e., Poor 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.

Build AI portfolio with International Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in International Paper. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

To learn how to invest in International Stock, please use our How to Invest in International Paper guide.

Moving together with International Stock

0.94	SW	Smurfit WestRock plc	Pair Corr
0.78	5Y7A	SCG PACKAGING FGN	Pair Corr
0.79	CWN	Crown Holdings	Pair Corr
0.84	AVY	Avery Dennison Corp	Pair Corr
0.95	PKG	Packaging Corp	Pair Corr
0.87	SON	Sonoco Products	Pair Corr
0.83	25W	Winpak	Pair Corr
0.89	7JZ	ARDAGH METAL PACDL	Pair Corr
0.83	VETN	Vetropack Holding	Pair Corr
0.85	485B	Amcor plc Split	Pair Corr
0.92	PKA	Packaging	Pair Corr
0.77	2HX	Hexagon Composites ASA	Pair Corr
0.66	6YS	IMAFLEX INC	Pair Corr
0.62	MQ1	TriMas	Pair Corr
0.77	SIGN	SIG Combibloc Group Earnings Call This Week	Pair Corr
0.84	GB6B	GREIF INC CLB	Pair Corr
0.8	AV3	Avery Dennison Corp	Pair Corr
0.81	5Y7	SCG PACKAGING NVDR	Pair Corr
0.7	ZVB	Zignago Vetro SpA	Pair Corr
0.91	SK3	Smurfit Kappa Group	Pair Corr

Moving against International Stock

0.77	7GW	CABKA NV SHS Earnings Call This Week	Pair Corr
0.75	GPK	Graphic Packaging Holding	Pair Corr
0.45	SDA	Sealed Air Earnings Call This Week	Pair Corr
0.32	3ZT	REYNOLDS CONSPRODDL-001	Pair Corr
0.5	VRLA	Verallia	Pair Corr
0.47	TFF	Tonnellerie Francois	Pair Corr
0.8	4W8	Graphic Packaging Holding	Pair Corr
0.61	NX5	NEXE INNOVATIONS INC	Pair Corr

Related Correlations Analysis

	SW	AMCR	PKG	IHG	LULU	RL	CASY	NVR	LI	DRI
SW		0.88	0.95	0.71	-0.19	0.42	0.87	0.42	0.3	0.9	SW
AMCR	0.88		0.88	0.62	-0.47	0.27	0.88	0.45	0.59	0.77	AMCR
PKG	0.95	0.88		0.71	-0.29	0.26	0.91	0.57	0.29	0.92	PKG
IHG	0.71	0.62	0.71		0.15	0.39	0.54	0.38	0.16	0.64	IHG
LULU	-0.19	-0.47	-0.29	0.15		0.34	-0.44	-0.41	-0.58	-0.12	LULU
RL	0.42	0.27	0.26	0.39	0.34		0.24	-0.1	0.05	0.32	RL
CASY	0.87	0.88	0.91	0.54	-0.44	0.24		0.51	0.32	0.9	CASY
NVR	0.42	0.45	0.57	0.38	-0.41	-0.1	0.51		0.09	0.49	NVR
LI	0.3	0.59	0.29	0.16	-0.58	0.05	0.32	0.09		0.07	LI
DRI	0.9	0.77	0.92	0.64	-0.12	0.32	0.9	0.49	0.07		DRI
	SW	AMCR	PKG	IHG	LULU	RL	CASY	NVR	LI	DRI

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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

PKG	+ 0.95	SW
DRI	+ 0.92	PKG
CASY	+ 0.91	PKG
DRI	+ 0.9	SW
DRI	+ 0.9	CASY
AMCR	+ 0.88	SW

High negative correlations

LI	- 0.58	LULU
LULU	- 0.47	AMCR
CASY	- 0.44	LULU
NVR	- 0.41	LULU
LULU	- 0.29	PKG
LULU	- 0.19	SW

Risk-Adjusted Indicators

There is a big difference between International Stock 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
SW	1.97	0.39	0.23	0.36	1.60	(2.43)	5.26	(3.37)	14.93
AMCR	1.23	0.19	0.08	0.41	1.58	(1.33)	3.21	(1.72)	11.77
PKG	1.23	0.18	0.10	0.27	1.48	(1.33)	3.03	(2.41)	9.68
IHG	1.26	0.10	0.07	0.21	1.19	(1.46)	3.15	(2.06)	8.23
LULU	2.07	0.02	0.03	0.12	2.83	(1.93)	3.75	(4.33)	16.10
RL	1.41	0.10	0.07	0.19	1.71	(1.54)	2.97	(2.73)	9.34
CASY	1.17	0.31	0.14	2.98	1.27	(1.40)	2.70	(2.03)	9.89
NVR	1.22	(0.02)	(0.03)	0.09	1.73	(1.25)	3.15	(2.14)	10.73
LI	1.65	0.06	(0.03)	(0.25)	1.97	(1.71)	3.54	(3.18)	9.90
DRI	1.40	0.28	0.16	0.41	1.37	(1.61)	3.39	(2.67)	8.67

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