Scotts Miracle Correlations
| SCQA Stock | EUR 57.65 0.20 0.35% |
The current 90-days correlation between Scotts Miracle and PENN Entertainment is 0.21 (i.e., Modest diversification). The correlation of Scotts Miracle 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.
Scotts Miracle Correlation With Market
Very good diversification
The correlation between The Scotts Miracle Gro and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Scotts Miracle Gro and DJI in the same portfolio, assuming nothing else is changed.
Scotts |
The ability to find closely correlated positions to Scotts Miracle could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Scotts Miracle 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 Scotts Miracle - 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 The Scotts Miracle Gro to buy it.
Moving together with Scotts Stock
| 0.88 | 2X0 | Corteva | PairCorr |
| 0.87 | 2X0 | Corteva | PairCorr |
| 0.69 | N7T | Nutrien | PairCorr |
| 0.77 | 02M | Mosaic | PairCorr |
| 0.78 | C4F | CF Industries Holdings | PairCorr |
| 0.71 | FMQ | FMC Corporation | PairCorr |
| 0.75 | IU2 | Yara International ASA | PairCorr |
| 0.77 | IU20 | YARA INTL ASA | PairCorr |
| 0.85 | SSU | Samsung Electronics | PairCorr |
| 0.83 | SSUN | Samsung Electronics | PairCorr |
| 0.83 | SSUN | Samsung Electronics | PairCorr |
| 0.83 | SSU | Samsung Electronics | PairCorr |
| 0.88 | RS6 | Reliance Steel Aluminum Earnings Call This Week | PairCorr |
| 0.69 | GTY | Gateway Real Estate | PairCorr |
| 0.88 | HC1 | HEICO | PairCorr |
| 0.72 | PN1 | PENN Entertainment | PairCorr |
| 0.86 | R6N | Retail Estates NV | PairCorr |
| 0.84 | SWN | SOUTHWEST AIRLINES Earnings Call This Week | PairCorr |
| 0.64 | AQA | Advanced Medical Sol | PairCorr |
| 0.81 | JPX | AeroVironment | PairCorr |
| 0.67 | 0VD0 | UNIVMUSIC GRPADR/050 Earnings Call This Week | PairCorr |
| 0.69 | NT5 | NTT DATA | PairCorr |
| 0.71 | GTY | Gateway Real Estate | PairCorr |
| 0.89 | NCB | Bank of America | PairCorr |
| 0.89 | 0ZQ | JSC National Atomic | PairCorr |
| 0.71 | 8HJ | LANDSEA HOMES P | PairCorr |
Related Correlations Analysis
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Risk-Adjusted Indicators
There is a big difference between Scotts Stock performing well and Scotts Miracle 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 Scotts Miracle'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PN1 | 2.25 | 0.45 | 0.08 | (0.44) | 2.30 | 5.73 | 19.43 | |||
| SNF | 2.39 | 0.81 | 0.29 | (6.41) | 1.61 | 4.73 | 34.81 | |||
| 6UY | 1.83 | 0.82 | 0.29 | (1.51) | 1.61 | 4.87 | 12.15 | |||
| VIP | 1.51 | 0.53 | 0.23 | (1.43) | 1.03 | 4.08 | 9.95 | |||
| PPB | 1.36 | 0.38 | 0.15 | 48.81 | 1.34 | 3.25 | 8.43 | |||
| KEC | 2.77 | 0.51 | 0.03 | (0.59) | 3.57 | 4.76 | 33.57 | |||
| PSM | 1.06 | 0.28 | 0.12 | 1.27 | 0.92 | 2.69 | 21.89 | |||
| CUG | 1.20 | 0.41 | 0.00 | (1.42) | 0.00 | 4.00 | 29.17 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Scotts Miracle 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?
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Scotts Miracle Corporate Management
Elected by the shareholders, the Scotts Miracle's board of directors comprises two types of representatives: Scotts Miracle inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Scotts. The board's role is to monitor Scotts Miracle's management team and ensure that shareholders' interests are well served. Scotts Miracle'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, Scotts Miracle's outside directors are responsible for providing unbiased perspectives on the board's policies.
| James Hagedorn | CEO Chairman | Profile | |
| Ivan Esq | Gen VP | Profile | |
| Scott Hendrick | VP Chain | Profile | |
| Michael Lukemire | Pres COO | Profile | |
| Christopher Hagedorn | Division Pres | Profile | |
| Matthew Garth | Ex CFO | Profile | |
| Dave Swihart | VP RD | Profile |