Smurfit Kappa Correlations

SMFTF Stock

USD 44.21 1.50 3.28%

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

Very weak diversification

The correlation between Smurfit Kappa Group 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 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 Pink Sheet

0.8	IP	International Paper	Pair Corr
0.71	PKG	Packaging Corp	Pair Corr
0.79	BBGI	Beasley Broadcast	Pair Corr
0.67	BKRKY	Bank Rakyat	Pair Corr
0.72	TLK	Telkom Indonesia Tbk	Pair Corr

Moving against Smurfit Pink Sheet

0.92	ISMAY	Indra Sistemas SA Downward Rally	Pair Corr
0.58	CWCO	Consolidated Water Earnings Call Tomorrow	Pair Corr
0.53	TKOMF	Tokio Marine Holdings	Pair Corr
0.52	GTN	Gray Television	Pair Corr
0.44	GLU	Gabelli Global Utility	Pair Corr
0.43	AMBR	Amber Road, Symbol Change	Pair Corr
0.41	WM	Waste Management	Pair Corr
0.37	CCK	Crown Holdings	Pair Corr
0.35	MENEF	Mene Inc	Pair Corr
0.34	HROWM	Harrow Health, 11875	Pair Corr

Related Correlations Analysis

	WRK	SEE	AVY	IP	SON	GEF	CCK	OI	PKG
WRK		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	WRK
SEE	0.0		0.73	0.76	0.5	0.88	-0.33	-0.35	0.8	SEE
AVY	0.0	0.73		0.61	0.57	0.61	-0.27	-0.49	0.87	AVY
IP	0.0	0.76	0.61		0.27	0.63	0.08	-0.07	0.61	IP
SON	0.0	0.5	0.57	0.27		0.6	-0.09	-0.21	0.52	SON
GEF	0.0	0.88	0.61	0.63	0.6		-0.28	-0.21	0.7	GEF
CCK	0.0	-0.33	-0.27	0.08	-0.09	-0.28		0.79	-0.53	CCK
OI	0.0	-0.35	-0.49	-0.07	-0.21	-0.21	0.79		-0.66	OI
PKG	0.0	0.8	0.87	0.61	0.52	0.7	-0.53	-0.66		PKG
	WRK	SEE	AVY	IP	SON	GEF	CCK	OI	PKG

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

GEF	+ 0.88	SEE
PKG	+ 0.87	AVY
PKG	+ 0.8	SEE
OI	+ 0.79	CCK
IP	+ 0.76	SEE
AVY	+ 0.73	SEE

High negative correlations

PKG	- 0.66	OI
PKG	- 0.53	CCK
OI	- 0.49	AVY
OI	- 0.35	SEE
CCK	- 0.33	SEE
CCK	- 0.28	GEF

Risk-Adjusted Indicators

There is a big difference between Smurfit Pink Sheet 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WRK	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SEE	1.28	(0.22)	0.00	(0.23)	0.00	0.00	2.56	(3.43)	10.62
AVY	1.02	(0.13)	0.00	(0.30)	0.00	0.00	1.60	(2.41)	7.69
IP	1.37	(0.03)	0.00	(0.10)	0.00	0.00	2.55	(2.88)	10.71
SON	1.19	(0.08)	0.00	(0.16)	0.00	0.00	2.79	(2.77)	6.75
GEF	1.36	(0.18)	0.00	(0.22)	0.00	0.00	1.86	(3.05)	10.27
CCK	1.17	0.06	0.05	0.00	1.38	(1.22)	2.61	(2.53)	7.56
OI	2.08	0.21	0.06	0.06	2.77	(1.92)	4.38	(4.13)	14.32
PKG	1.05	(0.21)	0.00	(0.27)	0.00	0.00	1.53	(2.67)	11.56

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.

Did you try this?

Run Financial Widgets Now

Financial Widgets

Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets

All Next

Launch Module

Smurfit Kappa Corporate Management

Saverio Mayer	Chief Europe	Profile
Gillian CarsonCallan	Group Sec	Profile
Laurent Sellier	Chief Americas	Profile
Garrett Quinn	Head of Investor Relations	Profile
Brian Marshall	Group Counsel	Profile
Sharon Whitehead	Group HR	Profile
Ruth Cosgrove	Group Communications	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC