CCL Industries Correlations

CCDBF Stock

USD 55.96 0.86 1.51%

The current 90-days correlation between CCL Industries and Cascades is 0.13 (i.e., Average 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

Good diversification

The correlation between CCL Industries and DJI is -0.06 (i.e., Good 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 against CCL Pink Sheet

0.45	GSTX	Graphene Solar Techn	Pair Corr
0.45	GSHRF	Goldshore Resources	Pair Corr
0.41	GRFS	Grifols SA ADR	Pair Corr
0.35	AMAT	Applied Materials Sell-off Trend	Pair Corr
0.48	GPHOF	Graphite One	Pair Corr
0.36	XIN	Xinyuan Real Estate	Pair Corr
0.32	GIGGW	GigCapital7 Corp	Pair Corr

Related Correlations Analysis

	CADNF	TRS	MYE	REYN	BYDGF	CDNAF	SAPIF	QBCRF	IFCZF
CADNF		0.71	0.7	0.72	0.67	-0.59	0.84	0.0	-0.66	CADNF
TRS	0.71		0.83	0.9	0.53	-0.83	0.93	0.0	-0.95	TRS
MYE	0.7	0.83		0.86	0.62	-0.83	0.86	0.0	-0.82	MYE
REYN	0.72	0.9	0.86		0.61	-0.8	0.91	0.0	-0.88	REYN
BYDGF	0.67	0.53	0.62	0.61		-0.45	0.65	0.0	-0.48	BYDGF
CDNAF	-0.59	-0.83	-0.83	-0.8	-0.45		-0.83	0.0	0.87	CDNAF
SAPIF	0.84	0.93	0.86	0.91	0.65	-0.83		0.0	-0.88	SAPIF
QBCRF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	QBCRF
IFCZF	-0.66	-0.95	-0.82	-0.88	-0.48	0.87	-0.88	0.0		IFCZF
	CADNF	TRS	MYE	REYN	BYDGF	CDNAF	SAPIF	QBCRF	IFCZF

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

SAPIF	+ 0.93	TRS
SAPIF	+ 0.91	REYN
REYN	+ 0.9	TRS
IFCZF	+ 0.87	CDNAF
REYN	+ 0.86	MYE
SAPIF	+ 0.86	MYE

High negative correlations

IFCZF	- 0.95	TRS
IFCZF	- 0.88	SAPIF
IFCZF	- 0.88	REYN
SAPIF	- 0.83	CDNAF
CDNAF	- 0.83	MYE
CDNAF	- 0.83	TRS

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
CADNF	0.92	0.07	0.01	0.34	1.21	(1.48)	2.12	(2.51)	8.44
TRS	1.23	0.39	0.30	0.43	0.82	(1.43)	2.44	(2.10)	13.13
MYE	1.38	0.08	0.10	0.12	1.31	(1.57)	3.82	(2.62)	9.31
REYN	1.13	0.16	0.12	0.27	1.04	(1.29)	2.62	(1.87)	8.55
BYDGF	1.29	0.07	0.04	0.14	1.40	(2.66)	3.90	(2.41)	23.47
CDNAF	1.28	(0.17)	0.00	(0.45)	0.00	0.00	1.66	(3.26)	23.27
SAPIF	0.89	0.28	0.26	0.65	0.45	(1.29)	2.43	(0.97)	10.67
QBCRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IFCZF	0.79	(0.29)	0.00	(0.44)	0.00	0.00	1.65	(1.91)	8.04

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
Ben Lilienthal	Pres Unit	Profile
James Sellors	VP Pacific	Profile
Nicolangelo Vecchiarelli	VP Accounting	Profile

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