O I Correlations

OI Stock

USD 11.57 0.13 1.11%

The current 90-days correlation between O I Glass and Greif Bros is 0.52 (i.e., Very weak diversification). The correlation of O I 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.

O I Correlation With Market

Weak diversification

The correlation between O I Glass and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding O I Glass 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 O I Glass. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with O I Stock

0.63	AVY	Avery Dennison Corp	Pair Corr
0.88	CCK	Crown Holdings	Pair Corr
0.8	GEF	Greif Bros	Pair Corr
0.62	SEE	Sealed Air Earnings Call Next Week	Pair Corr
0.74	TRS	TriMas	Pair Corr
0.68	AMBP	Ardagh Metal Packaging Earnings Call This Week	Pair Corr
0.85	AMCR	Amcor PLC	Pair Corr
0.74	SLGN	Silgan Holdings	Pair Corr
0.63	BALL	Ball	Pair Corr
0.63	BERY	Berry Global Group	Pair Corr
0.63	DRVN	Driven Brands Holdings Earnings Call This Week	Pair Corr
0.87	VIRC	Virco Manufacturing	Pair Corr
0.82	F-PB	Ford Motor	Pair Corr
0.74	F-PC	Ford Motor	Pair Corr
0.68	WPRT	Westport Fuel Systems	Pair Corr
0.8	HBB	Hamilton Beach Brands	Pair Corr

Moving against O I Stock

0.79	PTVE	Pactiv Evergreen	Pair Corr
0.82	FIGS	Figs Inc	Pair Corr
0.62	GTX	Garrett Motion	Pair Corr
0.47	ECG	Everus Construction	Pair Corr
0.32	HMC	Honda Motor	Pair Corr

Related Correlations Analysis

	GEF	KRT	REYN	SLGN	MYE	PTVE	CCK	PKG	AVY	WRK
GEF		0.31	0.52	0.82	0.11	-0.79	0.8	0.68	0.89	0.0	GEF
KRT	0.31		0.31	0.5	0.65	0.2	0.34	0.1	0.23	0.0	KRT
REYN	0.52	0.31		0.43	0.04	-0.32	0.26	0.66	0.64	0.0	REYN
SLGN	0.82	0.5	0.43		0.35	-0.49	0.79	0.33	0.64	0.0	SLGN
MYE	0.11	0.65	0.04	0.35		0.18	0.41	-0.19	0.01	0.0	MYE
PTVE	-0.79	0.2	-0.32	-0.49	0.18		-0.7	-0.57	-0.75	0.0	PTVE
CCK	0.8	0.34	0.26	0.79	0.41	-0.7		0.41	0.68	0.0	CCK
PKG	0.68	0.1	0.66	0.33	-0.19	-0.57	0.41		0.86	0.0	PKG
AVY	0.89	0.23	0.64	0.64	0.01	-0.75	0.68	0.86		0.0	AVY
WRK	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		WRK
	GEF	KRT	REYN	SLGN	MYE	PTVE	CCK	PKG	AVY	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

AVY	+ 0.89	GEF
AVY	+ 0.86	PKG
SLGN	+ 0.82	GEF
CCK	+ 0.8	GEF
CCK	+ 0.79	SLGN
PKG	+ 0.68	GEF

High negative correlations

PTVE	- 0.79	GEF
AVY	- 0.75	PTVE
CCK	- 0.7	PTVE
PKG	- 0.57	PTVE
PTVE	- 0.49	SLGN
PTVE	- 0.32	REYN

Risk-Adjusted Indicators

There is a big difference between O I Stock performing well and O I 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 O I'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	1.10	(0.14)	0.00	(0.13)	0.00	0.00	1.83	(2.32)	8.73
KRT	1.38	0.15	0.08	0.12	1.70	(1.33)	3.51	(2.86)	9.03
REYN	0.99	(0.18)	0.00	(0.63)	0.00	0.00	1.63	(1.97)	8.71
SLGN	0.90	0.00	0.00	0.01	1.10	(0.94)	1.66	(1.92)	7.24
MYE	1.91	0.03	0.01	0.06	2.26	(2.08)	3.73	(4.06)	12.86
PTVE	1.16	0.66	0.73	(24.03)	0.00	(1.30)	3.37	(0.45)	18.83
CCK	0.96	(0.09)	0.00	(0.10)	0.00	0.00	1.80	(2.11)	7.51
PKG	0.83	(0.18)	0.00	(0.24)	0.00	0.00	1.13	(1.63)	12.20
AVY	0.96	(0.18)	0.00	(0.28)	0.00	0.00	1.68	(1.94)	8.04
WRK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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