Steelcase Correlations

SCSDelisted Stock

USD 16.14 0.10 0.62%

The current 90-days correlation between Steelcase and HNI Corp is 0.03 (i.e., Significant diversification). The correlation of Steelcase 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.

Steelcase Correlation With Market

Excellent diversification

The correlation between Steelcase and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steelcase and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving against Steelcase Stock

0.79	EC	Ecopetrol SA ADR	Pair Corr
0.79	UMAC	Unusual Machines Buyout Trend	Pair Corr
0.75	CAMZF	Camino Minerals	Pair Corr
0.71	KEP	Korea Electric Power Earnings Call Next Week	Pair Corr
0.71	USPH	US Physicalrapy	Pair Corr
0.7	SLSR	Solaris Resources	Pair Corr
0.69	NTZ	Natuzzi SpA	Pair Corr
0.68	CYD	China Yuchai Interna Earnings Call This Week	Pair Corr
0.67	GS	Goldman Sachs Group	Pair Corr
0.66	BNEFF	Bonterra Energy Corp	Pair Corr
0.66	CGECF	Cogeco Inc	Pair Corr
0.65	PTITF	PT Indosat Tbk	Pair Corr
0.62	MEEEF	Metal Energy Corp	Pair Corr
0.59	TORO	Toro	Pair Corr
0.58	NNBR	NN Inc	Pair Corr
0.58	GRBK	Green Brick Partners Earnings Call This Week	Pair Corr
0.38	AES	AES Earnings Call Next Week	Pair Corr
0.34	MEGI	MainStay CBRE Global	Pair Corr
0.32	EXAS	EXACT Sciences	Pair Corr
0.86	BLAGF	Blue Lagoon Resources	Pair Corr
0.85	TATT	Tat Techno	Pair Corr
0.77	TOGOF	TomaGold	Pair Corr
0.73	YLLXF	Yellow Cake plc	Pair Corr
0.7	MTGRF	Mount Gibson Iron	Pair Corr
0.69	INTC	Intel	Pair Corr
0.68	FRFFF	Fairfax Financial	Pair Corr
0.66	EMMA	Emmaus Life Sciences	Pair Corr
0.63	JOE	St Joe Company Earnings Call This Week	Pair Corr
0.62	FRSB	First Resource Bank	Pair Corr

Related Correlations Analysis

	HNI	PBI	VVX	ROCK	KMT	DXPE	CECO	CMBT	MVST
HNI		0.62	0.89	0.36	0.98	0.96	0.93	0.87	-0.82	HNI
PBI	0.62		0.51	0.21	0.57	0.7	0.7	0.35	-0.71	PBI
VVX	0.89	0.51		0.46	0.87	0.83	0.86	0.87	-0.61	VVX
ROCK	0.36	0.21	0.46		0.45	0.39	0.37	0.34	-0.12	ROCK
KMT	0.98	0.57	0.87	0.45		0.96	0.93	0.87	-0.8	KMT
DXPE	0.96	0.7	0.83	0.39	0.96		0.97	0.79	-0.87	DXPE
CECO	0.93	0.7	0.86	0.37	0.93	0.97		0.79	-0.85	CECO
CMBT	0.87	0.35	0.87	0.34	0.87	0.79	0.79		-0.59	CMBT
MVST	-0.82	-0.71	-0.61	-0.12	-0.8	-0.87	-0.85	-0.59		MVST
	HNI	PBI	VVX	ROCK	KMT	DXPE	CECO	CMBT	MVST

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

KMT	+ 0.98	HNI
CECO	+ 0.97	DXPE
DXPE	+ 0.96	HNI
DXPE	+ 0.96	KMT
CECO	+ 0.93	HNI
CECO	+ 0.93	KMT

High negative correlations

MVST	- 0.87	DXPE
MVST	- 0.85	CECO
MVST	- 0.82	HNI
MVST	- 0.8	KMT
MVST	- 0.71	PBI
MVST	- 0.61	VVX

Risk-Adjusted Indicators

There is a big difference between Steelcase Stock performing well and Steelcase 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 Steelcase'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
HNI	1.13	0.34	0.26	0.44	0.86	(1.35)	2.93	(1.55)	8.39
PBI	1.42	0.24	0.14	0.30	1.47	(1.69)	3.12	(2.42)	9.16
VVX	1.70	0.30	0.16	0.26	1.68	(1.85)	3.90	(2.67)	12.04
ROCK	2.33	(0.22)	0.00	(0.07)	0.00	0.00	5.00	(3.96)	20.56
KMT	1.56	0.47	0.36	0.35	0.92	(1.96)	5.00	(2.04)	10.73
DXPE	2.26	0.54	0.18	0.27	2.84	(2.51)	4.74	(3.76)	12.34
CECO	1.91	0.60	0.23	0.46	2.05	(2.14)	4.46	(4.14)	11.63
CMBT	2.02	0.53	0.24	1.96	1.77	(2.43)	4.58	(3.24)	13.21
MVST	2.89	(0.84)	0.00	(0.35)	0.00	0.00	5.86	(5.32)	18.37

Steelcase Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Steelcase stock to make a market-neutral strategy. Peer analysis of Steelcase could also be used in its relative valuation, which is a method of valuing Steelcase by comparing valuation metrics with similar companies.

HNI Corp Pitney Bowes V2X Inc Gibraltar Industries Kennametal DXP Enterprises CECO Environmental Corp CMBTECH NV Microvast Holdings American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

Still Interested in Steelcase?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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