Packaging Corp Correlations
| PKG Stock | USD 194.41 2.77 1.40% |
The current 90-days correlation between Packaging Corp and Avery Dennison Corp is 0.26 (i.e., Modest diversification). The correlation of Packaging Corp 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.
Packaging Corp Correlation With Market
Very weak diversification
The correlation between Packaging Corp of and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Packaging Corp of and DJI in the same portfolio, assuming nothing else is changed.
Packaging |
Moving together with Packaging Stock
| 0.69 | SW | Smurfit WestRock plc | PairCorr |
| 0.61 | GPK | Graphic Packaging Holding | PairCorr |
| 0.8 | REYN | Reynolds Consumer | PairCorr |
| 0.63 | BALL | Ball | PairCorr |
| 0.76 | GP | GreenPower Motor | PairCorr |
Moving against Packaging Stock
| 0.45 | OI | O I Glass | PairCorr |
| 0.39 | CCK | Crown Holdings | PairCorr |
| 0.33 | MYE | Myers Industries | PairCorr |
| 0.65 | PTVE | Pactiv Evergreen | PairCorr |
| 0.65 | BERY | Berry Global Group | PairCorr |
| 0.57 | AMCR | Amcor PLC | PairCorr |
| 0.46 | LI | Li Auto | PairCorr |
| 0.43 | EM | Smart Share Global | PairCorr |
| 0.65 | VIOT | Viomi Technology ADR Earnings Call This Week | PairCorr |
| 0.61 | YJ | Yunji Inc | PairCorr |
| 0.46 | DRVN | Driven Brands Holdings | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Packaging Stock performing well and Packaging Corp 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 Packaging Corp'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AVY | 1.02 | (0.13) | 0.00 | (0.30) | 0.00 | 1.60 | 7.69 | |||
| WRK | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| OI | 2.08 | 0.21 | 0.06 | 0.06 | 2.77 | 4.38 | 14.32 | |||
| SLGN | 1.10 | (0.02) | 0.00 | (0.10) | 0.00 | 1.65 | 8.24 | |||
| SEE | 1.28 | (0.22) | 0.00 | (0.23) | 0.00 | 2.56 | 10.62 | |||
| REYN | 1.26 | (0.20) | 0.00 | (0.94) | 0.00 | 1.73 | 8.61 | |||
| BALL | 1.17 | (0.11) | 0.00 | (0.27) | 0.00 | 2.39 | 9.70 | |||
| CCK | 1.17 | 0.06 | 0.05 | 0.00 | 1.38 | 2.61 | 7.56 | |||
| AMCR | 0.92 | 0.06 | 0.07 | 0.03 | 1.18 | 1.61 | 8.21 |