Resolute Forest Correlations
| RFPDelisted Stock | USD 21.92 0.08 0.36% |
The current 90-days correlation between Resolute Forest Products and PennantPark Floating Rate is -0.02 (i.e., Good diversification). The correlation of Resolute Forest 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.
Resolute Forest Correlation With Market
Good diversification
The correlation between Resolute Forest Products and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Resolute Forest Products and DJI in the same portfolio, assuming nothing else is changed.
Resolute |
Moving together with Resolute Stock
| 0.63 | LGCY | Legacy Education | PairCorr |
| 0.61 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.64 | DIS | Walt Disney | PairCorr |
Moving against Resolute Stock
| 0.53 | ADVWW | Advantage Solutions | PairCorr |
| 0.47 | GOEVW | Canoo Holdings | PairCorr |
| 0.46 | CHKEZ | Chesapeake Energy Symbol Change | PairCorr |
| 0.44 | CHKEL | Chesapeake Energy Symbol Change | PairCorr |
| 0.36 | CHKEW | Chesapeake Energy Symbol Change | PairCorr |
| 0.64 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
| 0.58 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.56 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.51 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.49 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.46 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Related Correlations Analysis
| 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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Resolute Stock performing well and Resolute Forest 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 Resolute Forest'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FCRM | 1.14 | 0.24 | 0.00 | (0.23) | 0.00 | 0.00 | 41.26 | |||
| LRFC | 0.90 | 0.00 | 0.05 | 0.00 | 1.01 | 2.54 | 8.17 | |||
| PFLT | 0.63 | (0.09) | 0.00 | (0.38) | 0.00 | 0.91 | 4.93 | |||
| SSVRF | 3.20 | (0.47) | 0.00 | 0.59 | 0.00 | 6.67 | 16.90 | |||
| LECO | 1.38 | 0.13 | 0.09 | 0.84 | 1.14 | 3.01 | 9.06 | |||
| ACU | 1.56 | (0.08) | 0.00 | (0.28) | 0.00 | 3.21 | 9.10 | |||
| RBC | 1.08 | 0.08 | 0.08 | 0.07 | 1.05 | 2.12 | 11.76 | |||
| EML | 1.82 | (0.04) | 0.00 | (0.22) | 0.00 | 3.52 | 11.83 |
Resolute Forest Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Resolute Forest stock to make a market-neutral strategy. Peer analysis of Resolute Forest could also be used in its relative valuation, which is a method of valuing Resolute Forest by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Still Interested in Resolute Forest Products?
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