| SCS Stock | | | USD 10.28 0.12 1.18% |
The current 90-days correlation between Steelcase and Acco Brands is 0.66 (i.e., Poor diversification). The correlation of Steelcase 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Steelcase Correlation With Market
Poor diversification
The correlation between Steelcase and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steelcase 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 Steelcase. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in main economic indicators.
For more information on how to buy Steelcase Stock please use our
How to Invest in Steelcase guide.