Smurfit Kappa Correlations

Stocks . Germany . 
Stock . Smurfit Kappa Group
SK3 Stock  EUR 42.10  0.75  1.81%   
The current 90-days correlation between Smurfit Kappa Group and SPARTAN STORES is -0.21 (i.e., Very good diversification). The correlation of Smurfit Kappa 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.

Smurfit Kappa Correlation With Market

Average diversification

The correlation between Smurfit Kappa Group and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Smurfit Kappa Group and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Smurfit Kappa could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Smurfit Kappa 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 Smurfit Kappa - 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 Smurfit Kappa Group to buy it.

Moving together with Smurfit Stock

  0.74PKA PackagingPairCorr
  0.681C9 CCL IndustriesPairCorr
  0.734W8 Graphic Packaging HoldingPairCorr
  0.73MIZ MizunoPairCorr

Moving against Smurfit Stock

  0.8PKX POSCO HoldingsPairCorr
  0.71YHA YamahaPairCorr
  0.7TM2 Sydbank ASPairCorr
  0.6KONN Komercn banka asPairCorr
  0.593RE Rejlerkoncernen ABPairCorr
  0.54HCMA HITACHI CONSTRMACHADR/2PairCorr
  0.53893 MITSUBISHI KAKOKIPairCorr
  0.45GIS General MillsPairCorr
  0.4292I ROMERIKE SPAREBANKPairCorr
  0.4BRH Berkshire HathawayPairCorr
  0.3592K K92 Mining Earnings Call This WeekPairCorr
  0.86AG9 ACTIA GROUP SAPairCorr
  0.79TKA thyssenkrupp AGPairCorr
  0.74BSN Danone SAPairCorr
  0.69JYS1 JYSKE BANKPairCorr
  0.685TP BLUE LABELPairCorr
  0.5PEH PEH WERTPAPIERPairCorr
  0.5DBPE Xtrackers LevDAXPairCorr
  0.46ROI Rosenbauer InternationalPairCorr
  0.45B4B3 Metro AGPairCorr
  0.43BY6A BYD Limited Earnings Call TodayPairCorr
  0.4VOL3 VOLVO -A-PairCorr
  0.31KGHA KGHM Polska Miedz Earnings Call TomorrowPairCorr

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   
TM5
+ 0.75
SRJ
VEFW
+ 0.65
2MF
2MF
+ 0.47
TM5
VEFW
+ 0.45
96W
2MF
+ 0.31
CUEH
96W
+ 0.28
CUEH
  
High negative correlations   
FW3
- 0.63
TM5
96W
- 0.57
SRJ
2MF
- 0.54
FW3
FW3
- 0.54
SRJ
96W
- 0.53
TM5
CUEH
- 0.18
SRJ

Risk-Adjusted Indicators

There is a big difference between Smurfit Stock performing well and Smurfit Kappa 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 Smurfit Kappa'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 Smurfit Kappa 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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Smurfit Kappa Corporate Management

Elected by the shareholders, the Smurfit Kappa's board of directors comprises two types of representatives: Smurfit Kappa inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Smurfit. The board's role is to monitor Smurfit Kappa's management team and ensure that shareholders' interests are well served. Smurfit Kappa'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, Smurfit Kappa's outside directors are responsible for providing unbiased perspectives on the board's policies.
Saverio MayerChief EuropeProfile
Gillian CarsonCallanGroup SecProfile
Laurent SellierChief AmericasProfile
Garrett QuinnHead of Investor RelationsProfile
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