STELLA JONES Correlations

97S Stock

EUR 47.20 0.40 0.85%

The current 90-days correlation between STELLA JONES INC and Boise Cascade is -0.17 (i.e., Good diversification). The correlation of STELLA JONES 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.

STELLA JONES Correlation With Market

Good diversification

The correlation between STELLA JONES INC and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STELLA JONES INC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with STELLA Stock

0.64	SCA	Svenska Cellulosa	Pair Corr
0.63	SCA	SVENSKA CELLULO B	Pair Corr
0.65	SCA1	Svenska Cellulosa	Pair Corr
0.86	AS4	Corticeira Amorim SGPS	Pair Corr
0.73	03F	IDP EDUCATION LTD	Pair Corr

Moving against STELLA Stock

0.85	P5F	Performance Food	Pair Corr
0.78	ABEA	Alphabet Class A	Pair Corr
0.65	NTO	Nintendo	Pair Corr
0.54	BC0	Boise Cascade	Pair Corr
0.38	UF3	UFP Industries	Pair Corr
0.91	NU42	Ribbon Communications	Pair Corr
0.9	EM4	EMCOR Group	Pair Corr
0.88	CUV	Realord Group Holdings	Pair Corr
0.88	QCH	COMPUTERSHARE	Pair Corr
0.88	QCH	Computershare Limited	Pair Corr
0.87	CIS	Cisco Systems	Pair Corr
0.84	WMT	Walmart	Pair Corr
0.83	74F	LIFE BANC SPLIT	Pair Corr
0.81	ALS	Allstate	Pair Corr
0.76	MNL	Gruppo Mutuionline SpA	Pair Corr
0.71	XGH	ENN Energy Holdings	Pair Corr
0.71	4JP	Japan Post Insurance	Pair Corr
0.66	MKL	Atea ASA	Pair Corr
0.63	TLX	Talanx AG	Pair Corr
0.61	SONA	Sony Group Split	Pair Corr
0.43	FOJ1	Premier Foods PLC	Pair Corr
0.91	4GNB	Wal Mart de	Pair Corr
0.9	CCJ	Cincinnati Financial	Pair Corr
0.9	2KD	Kinder Morgan	Pair Corr
0.89	ONK	ONEOK Inc	Pair Corr
0.8	ABEA	Alphabet Class A	Pair Corr
0.79	5F3	JINS HOLDINGS INC	Pair Corr

Related Correlations Analysis

	SCA	SCA	SCA1	WFC	UF3	RA6	BC0	NKC	97S	AS4
SCA		0.94	0.97	0.23	-0.14	0.14	-0.18	0.05	0.64	0.71	SCA
SCA	0.94		0.94	0.21	-0.13	0.14	-0.17	0.03	0.63	0.69	SCA
SCA1	0.97	0.94		0.22	-0.15	0.11	-0.18	0.05	0.65	0.7	SCA1
WFC	0.23	0.21	0.22		0.74	0.71	0.63	0.79	0.02	0.26	WFC
UF3	-0.14	-0.13	-0.15	0.74		0.64	0.9	0.7	-0.38	-0.06	UF3
RA6	0.14	0.14	0.11	0.71	0.64		0.62	0.63	-0.01	0.22	RA6
BC0	-0.18	-0.17	-0.18	0.63	0.9	0.62		0.65	-0.54	-0.19	BC0
NKC	0.05	0.03	0.05	0.79	0.7	0.63	0.65		-0.15	0.08	NKC
97S	0.64	0.63	0.65	0.02	-0.38	-0.01	-0.54	-0.15		0.86	97S
AS4	0.71	0.69	0.7	0.26	-0.06	0.22	-0.19	0.08	0.86		AS4
	SCA	SCA	SCA1	WFC	UF3	RA6	BC0	NKC	97S	AS4

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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

SCA1	+ 0.97	SCA
SCA	+ 0.94	SCA
SCA1	+ 0.94	SCA
BC0	+ 0.9	UF3
AS4	+ 0.86	97S
NKC	+ 0.79	WFC

High negative correlations

97S	- 0.54	BC0
97S	- 0.38	UF3
AS4	- 0.19	BC0
BC0	- 0.18	SCA1
BC0	- 0.18	SCA
BC0	- 0.17	SCA

Risk-Adjusted Indicators

There is a big difference between STELLA Stock performing well and STELLA JONES 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 STELLA JONES'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SCA	1.17	(0.14)	(2.26)	2.67	(2.88)	7.60
SCA	1.08	(0.10)	(0.62)	1.89	(2.25)	8.59
SCA1	1.11	(0.14)	0.51	2.05	(3.02)	7.12
WFC	1.17	(0.06)	(0.10)	2.75	(3.29)	8.87
UF3	1.44	(0.15)	(0.08)	3.95	(2.66)	10.37
RA6	0.94	(0.07)	(1.00)	2.12	(2.02)	5.22
BC0	1.55	(0.14)	(0.14)	3.42	(3.09)	13.43
NKC	1.42	(0.11)	(0.36)	2.80	(2.78)	9.89
97S	1.79	(0.30)	0.88	4.68	(4.11)	14.25
AS4	0.69	(0.18)	(0.99)	1.25	(2.12)	4.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in STELLA JONES 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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