CCL Industries Correlations

CCDBF Stock

USD 55.83 0.05 0.09%

The current 90-days correlation between CCL Industries and Toray Industries ADR is -0.04 (i.e., Good diversification). The correlation of CCL Industries 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.

CCL Industries Correlation With Market

Average diversification

The correlation between CCL Industries and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CCL Industries and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to CCL Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace CCL Industries 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 CCL Industries - 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 CCL Industries to buy it.

Moving together with CCL Pink Sheet

0.78	GCMGW	GCM Grosvenor	Pair Corr
0.62	MCD	McDonalds Earnings Call This Week	Pair Corr
0.68	T	ATT Inc Earnings Call This Week	Pair Corr
0.83	PG	Procter Gamble	Pair Corr

Moving against CCL Pink Sheet

0.49	IBM	International Business	Pair Corr
0.44	GE	GE Aerospace	Pair Corr
0.44	INTC	Intel Aggressive Push	Pair Corr
0.44	WMT	Walmart	Pair Corr
0.42	ERHE	ERHC Energy	Pair Corr
0.39	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	TRYIY	NCLTY	SIETY	MAKSF	NCLTF	ISUZY	GRKZF	TRYIF	SIEVF	SRGHY
TRYIY		0.27	0.5	-0.12	0.38	0.59	0.12	0.05	0.61	-0.73	TRYIY
NCLTY	0.27		0.26	-0.41	0.2	0.64	0.56	0.08	-0.07	-0.24	NCLTY
SIETY	0.5	0.26		-0.21	0.43	0.62	0.06	-0.34	0.6	-0.74	SIETY
MAKSF	-0.12	-0.41	-0.21		-0.13	-0.23	-0.56	-0.25	0.0	0.26	MAKSF
NCLTF	0.38	0.2	0.43	-0.13		0.37	0.08	-0.07	0.41	-0.45	NCLTF
ISUZY	0.59	0.64	0.62	-0.23	0.37		0.17	-0.03	0.23	-0.47	ISUZY
GRKZF	0.12	0.56	0.06	-0.56	0.08	0.17		0.35	-0.25	-0.05	GRKZF
TRYIF	0.05	0.08	-0.34	-0.25	-0.07	-0.03	0.35		-0.4	0.22	TRYIF
SIEVF	0.61	-0.07	0.6	0.0	0.41	0.23	-0.25	-0.4		-0.85	SIEVF
SRGHY	-0.73	-0.24	-0.74	0.26	-0.45	-0.47	-0.05	0.22	-0.85		SRGHY
	TRYIY	NCLTY	SIETY	MAKSF	NCLTF	ISUZY	GRKZF	TRYIF	SIEVF	SRGHY

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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

ISUZY	+ 0.64	NCLTY
ISUZY	+ 0.62	SIETY
SIEVF	+ 0.61	TRYIY
SIEVF	+ 0.6	SIETY
ISUZY	+ 0.59	TRYIY
GRKZF	+ 0.56	NCLTY

High negative correlations

SRGHY	- 0.85	SIEVF
SRGHY	- 0.74	SIETY
SRGHY	- 0.73	TRYIY
GRKZF	- 0.56	MAKSF
SRGHY	- 0.47	ISUZY
SRGHY	- 0.45	NCLTF

Risk-Adjusted Indicators

There is a big difference between CCL Pink Sheet performing well and CCL Industries 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 CCL Industries' 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
TRYIY	1.41	(0.12)	0.00	(0.34)	0.00	0.00	2.66	(2.30)	13.47
NCLTY	1.72	(0.07)	0.00	(0.16)	0.00	0.00	4.31	(3.60)	11.35
SIETY	0.71	(0.06)	0.00	0.56	0.00	0.00	1.90	(1.63)	21.39
MAKSF	0.68	0.19	0.00	0.53	0.00	0.00	0.89	0.00	19.07
NCLTF	121.45	57.08	0.75	(1.81)	39.83	(330.40)	418.81	(82.04)	547.35
ISUZY	0.92	(0.10)	0.00	(0.06)	0.00	0.00	1.65	(1.54)	6.10
GRKZF	0.41	(0.09)	0.00	(0.33)	0.00	0.00	0.00	0.00	19.33
TRYIF	0.44	(0.05)	0.00	0.34	0.00	0.00	0.00	(2.26)	12.69
SIEVF	0.30	(0.16)	0.00	(0.80)	0.00	0.00	0.00	0.00	5.95
SRGHY	1.18	0.23	0.14	0.96	0.96	(1.44)	2.72	(1.84)	6.14

Be your own money manager

Our tools can tell you how much better you can do entering a position in CCL Industries 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.

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CCL Industries Corporate Management

Lalitha Vaidyanathan	Sr. VP of Fin., IT and HR	Profile
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