Svenska Cellulosa Correlations

Stocks . Germany . 
Stock . Svenska Cellulosa Aktiebolaget
SCA Stock  EUR 11.71  0.03  0.26%   
The current 90-days correlation between Svenska Cellulosa and InterContinental Hotels Group is -0.06 (i.e., Good diversification). The correlation of Svenska Cellulosa 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.

Svenska Cellulosa Correlation With Market

Significant diversification

The correlation between Svenska Cellulosa Aktiebolaget and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Svenska Cellulosa Aktiebolaget and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Svenska Cellulosa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Svenska Cellulosa when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Svenska Cellulosa - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Svenska Cellulosa Aktiebolaget to buy it.

Moving together with Svenska Stock

  0.94SCA SVENSKA CELLULO BPairCorr
  0.97SCA1 Svenska CellulosaPairCorr
  0.6497S STELLA JONES INCPairCorr
  0.71AS4 Corticeira Amorim SGPSPairCorr
  0.6403F IDP EDUCATION LTDPairCorr

Moving against Svenska Stock

  0.62ABEA Alphabet Class APairCorr
  0.61P5F Performance FoodPairCorr
  0.33NTO NintendoPairCorr
  0.74NU42 Ribbon CommunicationsPairCorr
  0.71CIS Cisco SystemsPairCorr
  0.7CUV Realord Group HoldingsPairCorr
  0.65EM4 EMCOR GroupPairCorr
  0.54FOJ1 Premier Foods PLCPairCorr
  0.52QCH COMPUTERSHAREPairCorr
  0.5QCH Computershare LimitedPairCorr
  0.5WMT WalmartPairCorr
  0.47ALS AllstatePairCorr
  0.4474F LIFE BANC SPLITPairCorr
  0.43MNL Gruppo Mutuionline SpAPairCorr
  0.41XGH ENN Energy HoldingsPairCorr
  0.765F3 JINS HOLDINGS INCPairCorr
  0.672KD Kinder MorganPairCorr
  0.62ABEA Alphabet Class APairCorr
  0.55ONK ONEOK IncPairCorr
  0.55CCJ Cincinnati FinancialPairCorr
  0.534GNB Wal Mart dePairCorr

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   
IC1B
+ 0.99
IC1H
DHG
+ 0.81
IC1H
IC1B
+ 0.81
DHG
PD0
+ 0.77
IC1H
IC1B
+ 0.75
PD0
6L50
+ 0.7
CI7
  
High negative correlations   
6L50
- 0.79
PD0
6L50
- 0.74
IC1H
6L50
- 0.73
IC1B
6L50
- 0.69
32P
CI7
- 0.69
IC1B
CI7
- 0.69
IC1H

Risk-Adjusted Indicators

There is a big difference between Svenska Stock performing well and Svenska Cellulosa 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 Svenska Cellulosa'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Svenska Cellulosa without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Svenska Cellulosa Corporate Management

Elected by the shareholders, the Svenska Cellulosa's board of directors comprises two types of representatives: Svenska Cellulosa inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Svenska. The board's role is to monitor Svenska Cellulosa's management team and ensure that shareholders' interests are well served. Svenska Cellulosa's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Svenska Cellulosa's outside directors are responsible for providing unbiased perspectives on the board's policies.
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