Sealed Air Correlations

SEE Stock  USD 31.19  0.20  0.64%   
The current 90-days correlation between Sealed Air and Packaging Corp of is 0.69 (i.e., Poor diversification). The correlation of Sealed Air 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.

Sealed Air Correlation With Market

Very weak diversification

The correlation between Sealed Air and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sealed Air and DJI in the same portfolio, assuming nothing else is changed.
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sealed Air. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
For information on how to trade Sealed Stock refer to our How to Trade Sealed Stock guide.

Moving together with Sealed Stock

  0.76OI O I GlassPairCorr
  0.74SW Smurfit WestRock plcPairCorr
  0.88AVY Avery Dennison Corp Earnings Call This WeekPairCorr
  0.79CCK Crown Holdings Earnings Call This WeekPairCorr
  0.64GEF Greif BrosPairCorr
  0.83KRT Karat PackagingPairCorr
  0.8MYE Myers IndustriesPairCorr
  0.63PKG Packaging Corp Earnings Call This WeekPairCorr
  0.79TRS TriMasPairCorr
  0.64MGIH Millennium Group IntPairCorr
  0.79AMBP Ardagh Metal Packaging Earnings Call This WeekPairCorr
  0.88SLGN Silgan HoldingsPairCorr
  0.75BALL BallPairCorr
  0.8DRVN Driven Brands HoldingsPairCorr
  0.85WBUY WEBUY GLOBAL LTD Downward RallyPairCorr
  0.8EVRI Everi HoldingsPairCorr
  0.62FIGS Figs IncPairCorr
  0.72AIN Albany InternationalPairCorr

Moving against Sealed Stock

  0.79VIRC Virco ManufacturingPairCorr
  0.64REYN Reynolds ConsumerPairCorr
  0.63GPK Graphic Packaging HoldingPairCorr
  0.42PACK Ranpak Holdings CorpPairCorr
  0.65FRSX Foresight AutonomousPairCorr
  0.49DSS DSS IncPairCorr
  0.31CHA Chagee Holdings Downward RallyPairCorr

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   
SLGNOI
SLGNAVY
AVYPKG
OIAVY
OIPKG
SLGNPKG
  
High negative correlations   
RHIOI
RHISLGN
RHIPKG
WATPKG
RHIAVY

Risk-Adjusted Indicators

There is a big difference between Sealed Stock performing well and Sealed Air 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 Sealed Air'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.