International Paper Correlations

IP Stock

USD 51.39 0.90 1.72%

The correlation of International Paper 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.

International Paper Correlation With Market

Very weak diversification

The correlation between International Paper and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Paper and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in International Paper. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

To learn how to invest in International Stock, please use our How to Invest in International Paper guide.

Moving together with International Stock

0.8	SW	Smurfit WestRock plc	Pair Corr
0.61	AVY	Avery Dennison Corp	Pair Corr
0.63	GEF	Greif Bros	Pair Corr
0.61	PKG	Packaging Corp	Pair Corr
0.76	SEE	Sealed Air	Pair Corr
0.65	SLGN	Silgan Holdings	Pair Corr
0.66	F-PB	Ford Motor	Pair Corr
0.71	F-PD	F PD	Pair Corr
0.64	WPRT	Westport Fuel Systems Earnings Call Tomorrow	Pair Corr
0.67	AIN	Albany International	Pair Corr
0.64	FTDR	Frontdoor	Pair Corr

Moving against International Stock

0.31	AMBP	Ardagh Metal Packaging	Pair Corr
0.31	EFOI	Energy Focu	Pair Corr
0.44	HDL	SUPER HI INTERNATIONAL	Pair Corr
0.4	CYD	China Yuchai Interna	Pair Corr

Related Correlations Analysis

	WRK	SEE	AVY	SON	BALL	PKG	OI	SLGN	GEF
WRK		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	WRK
SEE	0.0		0.73	0.5	0.49	0.8	-0.35	0.65	0.88	SEE
AVY	0.0	0.73		0.57	0.74	0.87	-0.49	0.35	0.61	AVY
SON	0.0	0.5	0.57		0.71	0.52	-0.21	0.25	0.6	SON
BALL	0.0	0.49	0.74	0.71		0.68	-0.45	0.09	0.46	BALL
PKG	0.0	0.8	0.87	0.52	0.68		-0.66	0.2	0.7	PKG
OI	0.0	-0.35	-0.49	-0.21	-0.45	-0.66		0.17	-0.21	OI
SLGN	0.0	0.65	0.35	0.25	0.09	0.2	0.17		0.63	SLGN
GEF	0.0	0.88	0.61	0.6	0.46	0.7	-0.21	0.63		GEF
	WRK	SEE	AVY	SON	BALL	PKG	OI	SLGN	GEF

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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
PKG	+ 0.8	SEE
BALL	+ 0.74	AVY
AVY	+ 0.73	SEE
BALL	+ 0.71	SON

High negative correlations

OI	- 0.66	PKG
OI	- 0.49	AVY
OI	- 0.45	BALL
OI	- 0.35	SEE
GEF	- 0.21	OI
OI	- 0.21	SON

Risk-Adjusted Indicators

There is a big difference between International Stock performing well and International Paper 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 International Paper'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
WRK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEE	1.28	(0.22)	0.00	(0.23)	0.00	0.00	2.56	(3.43)	10.62
AVY	1.02	(0.13)	0.00	(0.30)	0.00	0.00	1.60	(2.41)	7.69
SON	1.19	(0.08)	0.00	(0.16)	0.00	0.00	2.79	(2.77)	6.75
BALL	1.14	(0.17)	0.00	(0.41)	0.00	0.00	2.39	(2.72)	9.70
PKG	1.05	(0.21)	0.00	(0.27)	0.00	0.00	1.53	(2.67)	11.56
OI	2.08	0.21	0.06	0.06	2.77	(1.92)	4.38	(4.13)	14.32
SLGN	1.10	(0.08)	0.00	(0.16)	0.00	0.00	1.65	(2.55)	8.24
GEF	1.36	(0.18)	0.00	(0.22)	0.00	0.00	1.86	(3.05)	10.27

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