Ardagh Metal Correlations

AMBP Stock

USD 2.90 0.01 0.35%

The current 90-days correlation between Ardagh Metal Packaging and Avery Dennison Corp is -0.09 (i.e., Good diversification). The correlation of Ardagh Metal 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.

Ardagh Metal Correlation With Market

Good diversification

The correlation between Ardagh Metal Packaging and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ardagh Metal Packaging and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ardagh Metal Packaging. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving against Ardagh Stock

0.42	VIRC	Virco Manufacturing	Pair Corr
0.41	SLGN	Silgan Holdings	Pair Corr
0.36	SW	Smurfit WestRock plc	Pair Corr
0.35	SEE	Sealed Air	Pair Corr
0.35	PACK	Ranpak Holdings Corp	Pair Corr
0.34	OCTO	Eightco Holdings	Pair Corr
0.33	IP	International Paper	Pair Corr
0.33	AMCR	Amcor PLC	Pair Corr
0.77	FLL	Full House Resorts	Pair Corr
0.74	FORD	Forward Industries	Pair Corr
0.67	WPRT	Westport Fuel Systems	Pair Corr
0.67	CHH	Choice Hotels Intern	Pair Corr
0.6	FAT	FAT Brands	Pair Corr
0.53	CZR	Caesars Entertainment	Pair Corr
0.51	CWH	Camping World Holdings	Pair Corr
0.5	FGI	FGI Industries	Pair Corr
0.42	CUK	Carnival Plc ADS	Pair Corr
0.4	AIN	Albany International	Pair Corr
0.39	ALV	Autoliv	Pair Corr
0.36	F-PB	Ford Motor	Pair Corr

Related Correlations Analysis

	CCK	AMCR	AVY	PKG	SEE	GEF	KRT	REYN	SLGN
CCK		0.76	-0.3	-0.56	-0.35	-0.31	0.3	-0.51	0.16	CCK
AMCR	0.76		-0.28	-0.57	-0.26	-0.29	0.33	-0.6	0.34	AMCR
AVY	-0.3	-0.28		0.87	0.74	0.59	0.29	0.76	0.34	AVY
PKG	-0.56	-0.57	0.87		0.79	0.69	0.18	0.82	0.19	PKG
SEE	-0.35	-0.26	0.74	0.79		0.88	0.48	0.78	0.65	SEE
GEF	-0.31	-0.29	0.59	0.69	0.88		0.58	0.72	0.63	GEF
KRT	0.3	0.33	0.29	0.18	0.48	0.58		0.2	0.7	KRT
REYN	-0.51	-0.6	0.76	0.82	0.78	0.72	0.2		0.34	REYN
SLGN	0.16	0.34	0.34	0.19	0.65	0.63	0.7	0.34		SLGN
	CCK	AMCR	AVY	PKG	SEE	GEF	KRT	REYN	SLGN

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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

GEF	+ 0.88	SEE
PKG	+ 0.87	AVY
REYN	+ 0.82	PKG
SEE	+ 0.79	PKG
REYN	+ 0.78	SEE
AMCR	+ 0.76	CCK

High negative correlations

REYN	- 0.6	AMCR
PKG	- 0.57	AMCR
PKG	- 0.56	CCK
REYN	- 0.51	CCK
SEE	- 0.35	CCK
GEF	- 0.31	CCK

Risk-Adjusted Indicators

There is a big difference between Ardagh Stock performing well and Ardagh Metal 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 Ardagh Metal'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
CCK	1.16	0.07	0.05	0.04	1.34	(1.21)	2.61	(2.53)	7.72
AMCR	0.93	(0.01)	0.00	(0.05)	0.00	0.00	1.61	(2.53)	8.21
AVY	1.03	(0.10)	0.00	(0.23)	0.00	0.00	1.60	(2.41)	7.69
PKG	1.09	(0.19)	0.00	(0.21)	0.00	0.00	1.79	(2.67)	11.56
SEE	1.31	(0.23)	0.00	(0.21)	0.00	0.00	2.56	(3.43)	10.62
GEF	1.38	(0.19)	0.00	(0.20)	0.00	0.00	1.86	(3.05)	10.27
KRT	1.58	(0.12)	0.00	(0.14)	0.00	0.00	3.62	(3.58)	9.02
REYN	1.22	(0.24)	0.00	(1.16)	0.00	0.00	1.73	(3.17)	8.61
SLGN	1.10	(0.08)	0.00	(0.13)	0.00	0.00	1.65	(2.55)	8.24

Ardagh Metal Corporate Management

David Matthews	Director	Profile
Damien Brien	Non-Executive Independent Director	Profile
Elizabeth Marcellino	Non-Executive Director	Profile
Abigail Blunt	Non-Executive Director	Profile
Edward White	Non-Executive Director	Profile
Yves Elsen	Non-Executive Independent Director	Profile

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