Eightco Holdings Correlations

OCTO Stock

1.47 0.03 2.08%

The current 90-days correlation between Eightco Holdings and Ardagh Metal Packaging is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eightco Holdings moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eightco Holdings moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eightco Holdings Correlation With Market

Average diversification

The correlation between Eightco Holdings and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eightco Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Eightco Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in Eightco Stock, please use our How to Invest in Eightco Holdings guide.

Moving together with Eightco Stock

0.79	AVY	Avery Dennison Corp	Pair Corr
0.67	CCK	Crown Holdings	Pair Corr
0.7	MYE	Myers Industries	Pair Corr
0.62	SON	Sonoco Products	Pair Corr
0.68	AMCR	Amcor PLC	Pair Corr
0.76	BALL	Ball	Pair Corr
0.78	EBET	Ebet Inc	Pair Corr
0.69	CYD	China Yuchai Interna	Pair Corr

Moving against Eightco Stock

0.66	KRT	Karat Packaging	Pair Corr
0.65	PKG	Packaging Corp Fiscal Year End 22nd of January 2025	Pair Corr
0.6	IP	International Paper	Pair Corr
0.57	DRVN	Driven Brands Holdings	Pair Corr
0.55	SW	Smurfit WestRock plc	Pair Corr
0.55	PTVE	Pactiv Evergreen	Pair Corr
0.54	BERY	Berry Global Group	Pair Corr
0.53	PACK	Ranpak Holdings Corp	Pair Corr
0.5	SLGN	Silgan Holdings	Pair Corr
0.42	GEF	Greif Bros	Pair Corr
0.69	VSTO	Vista Outdoor	Pair Corr
0.62	MLR	Miller Industries	Pair Corr
0.6	KAR	KAR Auction Services	Pair Corr
0.57	FLUT	Flutter Entertainment plc	Pair Corr
0.47	WBUY	WEBUY GLOBAL LTD	Pair Corr
0.4	EFOI	Energy Focu	Pair Corr

Related Correlations Analysis

	AMBP	WRK	AVY	AMCR	PKG	OI	SLGN	ACTX	SON
AMBP		-0.07	0.61	0.68	-0.25	0.6	-0.27	0.03	0.37	AMBP
WRK	-0.07		-0.6	-0.61	0.67	-0.25	0.42	-0.55	-0.76	WRK
AVY	0.61	-0.6		0.9	-0.67	0.69	-0.48	0.6	0.83	AVY
AMCR	0.68	-0.61	0.9		-0.68	0.62	-0.53	0.52	0.83	AMCR
PKG	-0.25	0.67	-0.67	-0.68		-0.28	0.9	-0.71	-0.66	PKG
OI	0.6	-0.25	0.69	0.62	-0.28		-0.12	0.4	0.55	OI
SLGN	-0.27	0.42	-0.48	-0.53	0.9	-0.12		-0.48	-0.44	SLGN
ACTX	0.03	-0.55	0.6	0.52	-0.71	0.4	-0.48		0.6	ACTX
SON	0.37	-0.76	0.83	0.83	-0.66	0.55	-0.44	0.6		SON
	AMBP	WRK	AVY	AMCR	PKG	OI	SLGN	ACTX	SON

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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

AMCR	+ 0.9	AVY
SLGN	+ 0.9	PKG
SON	+ 0.83	AVY
SON	+ 0.83	AMCR
OI	+ 0.69	AVY
AMCR	+ 0.68	AMBP

High negative correlations

SON	- 0.76	WRK
ACTX	- 0.71	PKG
PKG	- 0.68	AMCR
PKG	- 0.67	AVY
SON	- 0.66	PKG
AMCR	- 0.61	WRK

Risk-Adjusted Indicators

There is a big difference between Eightco Stock performing well and Eightco Holdings 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 Eightco Holdings' 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
AMBP	1.40	(0.23)	0.00	(0.85)	0.00	0.00	2.51	(3.60)	12.47
WRK	1.18	0.08	0.04	(0.81)	1.26	(1.27)	2.75	(2.33)	9.53
AVY	0.86	(0.22)	0.00	(0.41)	0.00	0.00	1.50	(1.94)	5.05
AMCR	0.96	(0.23)	0.00	(0.55)	0.00	0.00	1.58	(2.20)	10.29
PKG	0.72	0.07	0.07	0.13	0.72	(0.78)	1.21	(1.33)	7.45
OI	2.04	(0.39)	0.00	(0.49)	0.00	0.00	4.86	(4.14)	12.91
SLGN	0.88	(0.01)	(0.02)	0.01	1.05	(0.95)	1.75	(1.86)	5.76
ACTX	1.49	(0.77)	0.00	(3.72)	0.00	0.00	0.00	0.00	50.00
SON	0.86	(0.16)	0.00	(0.25)	0.00	0.00	1.59	(1.87)	4.99

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