Berry Global Correlations

BERY Stock

USD 68.11 2.07 2.95%

The current 90-days correlation between Berry Global Group and Greif Bros is 0.49 (i.e., Very weak diversification). The correlation of Berry Global 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.

Berry Global Correlation With Market

Very weak diversification

The correlation between Berry Global Group and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Berry Global Group 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 Berry Global Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Berry Stock

0.74	OI	O I Glass	Pair Corr
0.83	CCK	Crown Holdings	Pair Corr
0.84	PTVE	Pactiv Evergreen	Pair Corr
0.97	AMCR	Amcor PLC	Pair Corr
0.74	EFOI	Energy Focu	Pair Corr
0.77	CYD	China Yuchai Interna	Pair Corr

Moving against Berry Stock

0.66	PKG	Packaging Corp	Pair Corr
0.62	BALL	Ball	Pair Corr
0.49	OCTO	Eightco Holdings	Pair Corr
0.43	GEF	Greif Bros	Pair Corr
0.42	SEE	Sealed Air	Pair Corr
0.4	AVY	Avery Dennison Corp	Pair Corr
0.39	SON	Sonoco Products	Pair Corr
0.35	SW	Smurfit WestRock plc	Pair Corr
0.34	MGIH	Millennium Group Int	Pair Corr
0.33	TRS	TriMas	Pair Corr
0.32	AMBP	Ardagh Metal Packaging	Pair Corr
0.9	IVP	Inspire Veterinary	Pair Corr
0.81	DMN	Damon Common Stock	Pair Corr
0.81	IPW	iPower Inc	Pair Corr
0.78	HOG	Harley Davidson	Pair Corr
0.78	KFS	Kingsway Financial	Pair Corr
0.74	ECG	Everus Construction	Pair Corr
0.72	F-PC	Ford Motor	Pair Corr
0.68	FIGS	Figs Inc	Pair Corr
0.61	HDL	SUPER HI INTERNATIONAL	Pair Corr
0.59	F-PD	F PD	Pair Corr
0.56	HNI	HNI Corp	Pair Corr
0.54	FTEL	Fitell Ordinary	Pair Corr
0.46	F-PB	Ford Motor	Pair Corr
0.41	AIN	Albany International	Pair Corr
0.38	FFAI	Faraday Future Intel Symbol Change	Pair Corr
0.38	LEG	Leggett Platt	Pair Corr

Related Correlations Analysis

	GEF	SON	REYN	MYE	SEE	CCK	OI	PKG	SLGN
GEF		0.6	0.72	0.02	0.88	-0.28	-0.21	0.7	0.63	GEF
SON	0.6		0.63	0.12	0.5	-0.09	-0.21	0.52	0.25	SON
REYN	0.72	0.63		-0.12	0.78	-0.48	-0.5	0.82	0.34	REYN
MYE	0.02	0.12	-0.12		-0.21	0.57	0.54	-0.28	-0.07	MYE
SEE	0.88	0.5	0.78	-0.21		-0.33	-0.35	0.8	0.65	SEE
CCK	-0.28	-0.09	-0.48	0.57	-0.33		0.79	-0.53	0.18	CCK
OI	-0.21	-0.21	-0.5	0.54	-0.35	0.79		-0.66	0.17	OI
PKG	0.7	0.52	0.82	-0.28	0.8	-0.53	-0.66		0.2	PKG
SLGN	0.63	0.25	0.34	-0.07	0.65	0.18	0.17	0.2		SLGN
	GEF	SON	REYN	MYE	SEE	CCK	OI	PKG	SLGN

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

SEE	+ 0.88	GEF
PKG	+ 0.82	REYN
PKG	+ 0.8	SEE
OI	+ 0.79	CCK
SEE	+ 0.78	REYN
REYN	+ 0.72	GEF

High negative correlations

PKG	- 0.66	OI
PKG	- 0.53	CCK
OI	- 0.5	REYN
CCK	- 0.48	REYN
OI	- 0.35	SEE
CCK	- 0.33	SEE

Risk-Adjusted Indicators

There is a big difference between Berry Stock performing well and Berry Global 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 Berry Global'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
GEF	1.36	(0.18)	0.00	(0.22)	0.00	0.00	1.86	(3.05)	10.27
SON	1.19	(0.08)	0.00	(0.16)	0.00	0.00	2.79	(2.77)	6.75
REYN	1.23	(0.24)	0.00	(1.07)	0.00	0.00	1.73	(3.17)	8.61
MYE	2.24	0.11	0.04	0.08	2.83	(2.62)	3.70	(4.70)	30.65
SEE	1.28	(0.22)	0.00	(0.23)	0.00	0.00	2.56	(3.43)	10.62
CCK	1.17	0.06	0.05	0.00	1.38	(1.22)	2.61	(2.53)	7.56
OI	2.08	0.21	0.06	0.06	2.77	(1.92)	4.38	(4.13)	14.32
PKG	1.05	(0.21)	0.00	(0.27)	0.00	0.00	1.53	(2.67)	11.56
SLGN	1.10	(0.08)	0.00	(0.16)	0.00	0.00	1.65	(2.55)	8.24

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC