Ball Correlations

BALL Stock

USD 50.69 0.88 1.71%

The current 90-days correlation between Ball and Graphic Packaging Holding is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ball moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ball Corporation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ball Correlation With Market

Modest diversification

The correlation between Ball Corp. and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ball Corp. 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 Ball Corporation. 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 economic analysis.

Moving together with Ball Stock

0.66	GPK	Graphic Packaging Holding	Pair Corr
0.63	PKG	Packaging Corp	Pair Corr

Moving against Ball Stock

0.61	BERY	Berry Global Group	Pair Corr
0.6	AMCR	Amcor PLC	Pair Corr
0.54	PTVE	Pactiv Evergreen	Pair Corr
0.5	EM	Smart Share Global	Pair Corr
0.56	DKNG	DraftKings	Pair Corr
0.42	EFOI	Energy Focu	Pair Corr
0.37	VIOT	Viomi Technology ADR Earnings Call This Week	Pair Corr

Related Correlations Analysis

	GPK	SLGN	SON	REYN	SEE	IP	AVY	PKG	CCK	WRK
GPK		0.47	0.48	0.67	0.31	0.45	0.37	0.61	0.12	0.0	GPK
SLGN	0.47		0.21	0.33	0.44	0.6	0.13	0.16	0.23	0.0	SLGN
SON	0.48	0.21		0.54	0.36	0.35	0.4	0.45	0.01	0.0	SON
REYN	0.67	0.33	0.54		0.59	0.48	0.54	0.8	-0.37	0.0	REYN
SEE	0.31	0.44	0.36	0.59		0.76	0.73	0.56	-0.33	0.0	SEE
IP	0.45	0.6	0.35	0.48	0.76		0.61	0.59	0.08	0.0	IP
AVY	0.37	0.13	0.4	0.54	0.73	0.61		0.6	-0.27	0.0	AVY
PKG	0.61	0.16	0.45	0.8	0.56	0.59	0.6		-0.39	0.0	PKG
CCK	0.12	0.23	0.01	-0.37	-0.33	0.08	-0.27	-0.39		0.0	CCK
WRK	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WRK
	GPK	SLGN	SON	REYN	SEE	IP	AVY	PKG	CCK	WRK

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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	+ 0.8	REYN
IP	+ 0.76	SEE
AVY	+ 0.73	SEE
REYN	+ 0.67	GPK
PKG	+ 0.61	GPK
AVY	+ 0.61	IP

High negative correlations

CCK	- 0.39	PKG
CCK	- 0.37	REYN
CCK	- 0.33	SEE
CCK	- 0.27	AVY
WRK	- 0.0	CCK
WRK	- 0.0	PKG

Risk-Adjusted Indicators

There is a big difference between Ball Stock performing well and Ball 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 Ball'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
GPK	1.08	(0.09)	0.00	(0.22)	0.00	0.00	1.84	(2.51)	8.16
SLGN	1.10	(0.02)	0.00	(0.10)	0.00	0.00	1.65	(2.48)	8.24
SON	1.16	(0.02)	0.00	(0.10)	0.00	0.00	2.79	(2.40)	6.75
REYN	1.26	(0.20)	0.00	(0.94)	0.00	0.00	1.73	(3.17)	8.61
SEE	1.28	(0.22)	0.00	(0.23)	0.00	0.00	2.56	(3.43)	10.62
IP	1.37	(0.03)	0.00	(0.10)	0.00	0.00	2.55	(2.88)	10.71
AVY	1.02	(0.13)	0.00	(0.30)	0.00	0.00	1.60	(2.41)	7.69
PKG	1.07	(0.17)	0.00	(0.24)	0.00	0.00	1.53	(2.67)	11.56
CCK	1.17	0.06	0.05	0.00	1.38	(1.22)	2.61	(2.53)	7.56
WRK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Ball Corporate Management

Stacey Panayiotou	Senior Officer	Profile
Kathleen Pitre	Senior America	Profile
Charles Baker	Gen VP	Profile
Ronald Lewis	Senior Packaging	Profile
Fauze Villatoro	Senior America	Profile
Brandon Potthoff	Head Relations	Profile

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