Rayonier Advanced Correlations

RYAM Stock

USD 4.15 0.04 0.97%

The current 90-days correlation between Rayonier Advanced and Hafnia Limited is 0.23 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Rayonier Advanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Rayonier Advanced Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Rayonier Advanced Correlation With Market

Poor diversification

The correlation between Rayonier Advanced Materials and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rayonier Advanced Materials and DJI in the same portfolio, assuming nothing else is changed.

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Moving together with Rayonier Stock

0.87

HYMCL

Hycroft Mining Holding

Pair Corr

Moving against Rayonier Stock

0.8	OR	Osisko Gold Ro	Pair Corr
0.72	AU	AngloGold Ashanti plc	Pair Corr
0.7	CDE	Coeur Mining	Pair Corr
0.67	IE	Ivanhoe Electric	Pair Corr
0.63	MT	ArcelorMittal SA ADR	Pair Corr
0.61	RS	Reliance Steel Aluminum	Pair Corr
0.61	BTG	B2Gold Corp	Pair Corr
0.6	NG	NovaGold Resources	Pair Corr
0.59	DC	Dakota Gold Corp	Pair Corr
0.58	SA	Seabridge Gold	Pair Corr
0.54	AEM	Agnico Eagle Mines	Pair Corr
0.42	TX	Ternium SA ADR	Pair Corr
0.4	CE	Celanese	Pair Corr
0.38	WS	Worthington Steel	Pair Corr
0.34	AG	First Majestic Silver	Pair Corr
0.68	EGO	Eldorado Gold Corp	Pair Corr
0.66	ERO	Ero Copper Corp	Pair Corr
0.64	GAU	Galiano Gold	Pair Corr
0.62	HBM	Hudbay Minerals	Pair Corr
0.61	FRD	Friedman Industries	Pair Corr
0.58	FCX	Freeport McMoran Copper Aggressive Push	Pair Corr
0.56	CMC	Commercial Metals	Pair Corr
0.53	CNL	Collective Mining	Pair Corr
0.5	FNV	Franco Nevada	Pair Corr
0.44	DVS	Dolly Varden Silver	Pair Corr
0.43	IAG	IAMGold	Pair Corr
0.34	GGB	Gerdau SA ADR Aggressive Push	Pair Corr
0.31	EXK	Endeavour Silver Corp	Pair Corr

Related Correlations Analysis

	TFII	JDDSF	RYAAY	HAFN	ALVO	ADI	KNOIF	UBER
TFII		0.27	0.85	0.85	0.55	0.94	0.0	0.87	TFII
JDDSF	0.27		0.15	0.02	-0.19	0.27	0.0	0.13	JDDSF
RYAAY	0.85	0.15		0.91	0.58	0.88	0.0	0.87	RYAAY
HAFN	0.85	0.02	0.91		0.56	0.89	0.0	0.87	HAFN
ALVO	0.55	-0.19	0.58	0.56		0.56	0.0	0.49	ALVO
ADI	0.94	0.27	0.88	0.89	0.56		0.0	0.89	ADI
KNOIF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	KNOIF
UBER	0.87	0.13	0.87	0.87	0.49	0.89	0.0		UBER
	TFII	JDDSF	RYAAY	HAFN	ALVO	ADI	KNOIF	UBER

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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

ADI	+ 0.94	TFII
HAFN	+ 0.91	RYAAY
ADI	+ 0.89	HAFN
UBER	+ 0.89	ADI
ADI	+ 0.88	RYAAY
UBER	+ 0.87	TFII

High negative correlations

ALVO	- 0.19	JDDSF
UBER	- 0.0	KNOIF
KNOIF	- 0.0	ADI
KNOIF	- 0.0	ALVO
KNOIF	- 0.0	HAFN
KNOIF	- 0.0	RYAAY

Risk-Adjusted Indicators

There is a big difference between Rayonier Stock performing well and Rayonier Advanced 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 Rayonier Advanced'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
TFII	1.95	0.23	0.10	0.33	2.00	(2.34)	4.76	(3.54)	17.34
JDDSF	1.08	0.34	0.00	3.00	0.00	0.00	0.95	0.00	21.70
RYAAY	1.47	0.39	0.22	0.53	1.31	(1.66)	3.89	(2.49)	13.97
HAFN	1.93	0.31	0.10	0.46	2.43	(2.11)	5.17	(3.66)	12.68
ALVO	2.77	(0.12)	(0.04)	(0.01)	2.96	(3.66)	7.20	(5.14)	23.55
ADI	2.02	0.17	0.08	0.19	2.88	(2.23)	4.10	(4.63)	27.68
KNOIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UBER	1.97	0.28	0.13	0.31	2.17	(2.32)	5.87	(3.48)	16.18

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