Clearwater Paper Correlations

Stocks . USA . 
Stock . Clearwater Paper
CLW Stock  USD 28.01  1.08  3.71%   
The current 90-days correlation between Clearwater Paper and Mercer International is 0.32 (i.e., Weak diversification). The correlation of Clearwater Paper 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.

Clearwater Paper Correlation With Market

Very weak diversification

The correlation between Clearwater Paper and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clearwater Paper and DJI in the same portfolio, assuming nothing else is changed.
  
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For more information on how to buy Clearwater Stock please use our How to Invest in Clearwater Paper guide.

Moving together with Clearwater Stock

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Moving against Clearwater Stock

  0.63ITP IT Tech PackagingPairCorr
  0.61SLVM Sylvamo CorpPairCorr
  0.54MAGN Magnera Corp placeholder Symbol ChangePairCorr
  0.31MERC Mercer InternationalPairCorr
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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   
AIN
+ 0.53
SUZ
AIN
+ 0.51
UPMMY
SLVM
+ 0.49
MERC
CENTA
+ 0.45
AIN
CENTA
+ 0.38
UPMMY
UPMMY
+ 0.22
SUZ
  
High negative correlations   
AIN
- 0.72
SLVM
SUZ
- 0.44
SLVM
CENTA
- 0.41
SLVM
UPMMY
- 0.36
SLVM
AIN
- 0.23
MERC
CENTA
- 0.14
MERC

Risk-Adjusted Indicators

There is a big difference between Clearwater Stock performing well and Clearwater Paper 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 Clearwater Paper'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.

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