Scotts Miracle Correlations

SMG Stock

USD 69.31 0.10 0.14%

The current 90-days correlation between Scotts Miracle Gro and CF Industries Holdings is 0.2 (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 weak diversification

The correlation between Scotts Miracle Gro and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scotts Miracle Gro and DJI in the same portfolio, assuming nothing else is changed.

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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Scotts Miracle Gro. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Scotts Stock

0.87	CF	CF Industries Holdings	Pair Corr
0.79	FMC	FMC Corporation	Pair Corr
0.65	ICL	ICL Israel Chemicals	Pair Corr
0.64	IPI	Intrepid Potash	Pair Corr
0.87	MOS	Mosaic	Pair Corr
0.81	NTR	Nutrien	Pair Corr
0.87	UAN	CVR Partners LP	Pair Corr
0.93	CTVA	Corteva	Pair Corr
0.67	X	United States Steel	Pair Corr
0.93	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.76	AG	First Majestic Silver Buyout Trend	Pair Corr
0.64	AU	AngloGold Ashanti plc	Pair Corr
0.93	CE	Celanese	Pair Corr
0.88	CX	Cemex SAB de Aggressive Push	Pair Corr
0.85	DC	Dakota Gold Corp	Pair Corr
0.87	DD	Dupont De Nemours	Pair Corr
0.9	EU	enCore Energy Corp	Pair Corr
0.9	IE	Ivanhoe Electric	Pair Corr
0.83	MT	ArcelorMittal SA ADR	Pair Corr
0.74	NC	NACCO Industries	Pair Corr
0.76	OR	Osisko Gold Ro	Pair Corr
0.93	RS	Reliance Steel Aluminum	Pair Corr
0.77	SA	Seabridge Gold	Pair Corr

Moving against Scotts Stock

0.81	LVRO	Lavoro Limited Class	Pair Corr
0.81	SEED	Origin Agritech	Pair Corr
0.78	LVROW	Lavoro Limited Warrant	Pair Corr
0.68	HYMCL	Hycroft Mining Holding	Pair Corr

Related Correlations Analysis

	CTVA	CF	AVD	IPI	MOS	FMC	NTR	ICL
CTVA		0.95	0.25	0.77	0.95	0.79	0.9	0.7	CTVA
CF	0.95		0.28	0.8	0.94	0.74	0.95	0.62	CF
AVD	0.25	0.28		0.58	0.41	0.19	0.42	0.29	AVD
IPI	0.77	0.8	0.58		0.89	0.46	0.86	0.7	IPI
MOS	0.95	0.94	0.41	0.89		0.69	0.95	0.72	MOS
FMC	0.79	0.74	0.19	0.46	0.69		0.72	0.63	FMC
NTR	0.9	0.95	0.42	0.86	0.95	0.72		0.71	NTR
ICL	0.7	0.62	0.29	0.7	0.72	0.63	0.71		ICL
	CTVA	CF	AVD	IPI	MOS	FMC	NTR	ICL

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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
CTVA	0.91	0.29	0.24	0.74	0.00	(1.10)	2.52	(1.06)	8.81
CF	1.35	0.46	0.12	4.31	1.61	(1.48)	2.98	(3.03)	10.32
AVD	3.09	(0.16)	(0.02)	0.11	4.05	(3.25)	6.30	(7.30)	20.78
IPI	2.25	0.42	0.14	1.09	1.84	(2.81)	6.72	(3.54)	23.61
MOS	1.49	0.53	0.26	1.03	1.03	(1.74)	3.63	(1.92)	12.84
FMC	2.04	0.06	0.04	0.29	2.29	(2.44)	4.64	(3.48)	17.97
NTR	1.17	0.35	0.11	2.30	0.96	(1.28)	3.27	(1.86)	9.17
ICL	1.39	0.23	0.11	0.57	1.11	(1.78)	3.13	(2.19)	12.27

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