SVENSKA CELLULO Correlations
| SCA Stock | 10.63 0.28 2.57% |
The current 90-days correlation between SVENSKA CELLULO B and Svenska Cellulosa Aktiebolaget is 0.43 (i.e., Very weak diversification). The correlation of SVENSKA CELLULO 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.
SVENSKA CELLULO Correlation With Market
Good diversification
The correlation between SVENSKA CELLULO B and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SVENSKA CELLULO B and DJI in the same portfolio, assuming nothing else is changed.
SVENSKA |
The ability to find closely correlated positions to SVENSKA CELLULO 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 CELLULO 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 CELLULO - 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 CELLULO B to buy it.
Moving together with SVENSKA Stock
| 0.94 | SCA | Svenska Cellulosa Earnings Call This Week | PairCorr |
| 0.93 | SCA1 | Svenska Cellulosa Earnings Call This Week | PairCorr |
| 0.61 | RA6 | Rayonier | PairCorr |
Moving against SVENSKA Stock
| 0.54 | KBIA | KB Financial Group Earnings Call This Week | PairCorr |
| 0.53 | NKC | Canfor | PairCorr |
| 0.48 | OIX | ORIX | PairCorr |
| 0.45 | OIXA | Orix Corp Ads | PairCorr |
| 0.36 | FHL | Federal Home Loan | PairCorr |
| 0.69 | SUD | STUDSVIK Earnings Call Tomorrow | PairCorr |
| 0.68 | EV9 | Entravision Communications | PairCorr |
| 0.43 | CBK | Commerzbank AG | PairCorr |
| 0.42 | AB2 | ABN AMRO Bank | PairCorr |
| 0.38 | KGHA | KGHM Polska Miedz | PairCorr |
| 0.71 | NUO | Nucor Earnings Call This Week | PairCorr |
| 0.62 | I43 | Jacquet Metal Service | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between SVENSKA Stock performing well and SVENSKA CELLULO 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 CELLULO'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SCA | 1.31 | (0.04) | 0.00 | 0.27 | 0.00 | 2.62 | 6.98 | |||
| SCA | 1.20 | (0.09) | 0.00 | 0.47 | 0.00 | 2.82 | 6.89 | |||
| WFC | 1.23 | 0.03 | 0.00 | 0.04 | 0.00 | 2.77 | 6.32 | |||
| UF3 | 1.59 | (0.04) | 0.00 | 0.26 | 0.00 | 3.65 | 11.45 | |||
| RA6 | 1.10 | (0.12) | 0.00 | (1.54) | 0.00 | 2.56 | 6.76 | |||
| BC0 | 1.75 | (0.11) | 0.00 | 0.47 | 0.00 | 3.76 | 10.08 | |||
| NKC | 1.85 | 0.19 | 0.00 | (0.23) | 2.44 | 2.91 | 8.44 | |||
| 97S | 1.17 | 0.34 | 0.15 | (1.43) | 0.83 | 3.24 | 7.83 | |||
| AS4 | 0.96 | 0.12 | 0.01 | 0.91 | 0.99 | 2.02 | 5.79 |
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SVENSKA CELLULO Corporate Management
Elected by the shareholders, the SVENSKA CELLULO's board of directors comprises two types of representatives: SVENSKA CELLULO 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 CELLULO's management team and ensure that shareholders' interests are well served. SVENSKA CELLULO'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 CELLULO's outside directors are responsible for providing unbiased perspectives on the board's policies.
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