ScanSource Correlations

Stocks . Germany . 
Stock . ScanSource
SC3 Stock  EUR 31.40  0.60  1.95%   
The current 90-days correlation between ScanSource and Chocoladefabriken Lindt Sprngli is -0.22 (i.e., Very good diversification). The correlation of ScanSource 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.

ScanSource Correlation With Market

Very good diversification

The correlation between ScanSource and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ScanSource and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to ScanSource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ScanSource 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 ScanSource - 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 ScanSource to buy it.

Moving against ScanSource Stock

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Related Correlations Analysis


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

7LB
+ 0.85
S0V
WNI
+ 0.8
LSPP
7LB
+ 0.59
WNI
7LB
+ 0.48
LSPP
NVE
+ 0.46
S0V
WNI
+ 0.44
S0V
  

High negative correlations

HHX
- 0.56
LSPP
7LB
- 0.47
BRH
HHX
- 0.36
S0V
HHX
- 0.3
WNI
S0V
- 0.28
BRH
7LB
- 0.22
HHX

Risk-Adjusted Indicators

There is a big difference between ScanSource Stock performing well and ScanSource 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 ScanSource'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.

Be your own money manager

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

Elected by the shareholders, the ScanSource's board of directors comprises two types of representatives: ScanSource inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ScanSource. The board's role is to monitor ScanSource's management team and ensure that shareholders' interests are well served. ScanSource's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, ScanSource's outside directors are responsible for providing unbiased perspectives on the board's policies.
Shana SmithChief EVPProfile
Brandy FordChief VPProfile
Alexandre CondeSenior OfficerProfile
Mary GentryVice TreasurerProfile
John EldhPres OfficerProfile
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