Steelcase Correlations

SCS Stock

USD 9.71 0.24 2.41%

The current 90-days correlation between Steelcase and Ennis Inc is 0.7 (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 0.65 (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.

Build AI portfolio with Steelcase Stock

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.

Moving together with Steelcase Stock

0.68	FA	First Advantage Corp	Pair Corr
0.73	FC	Franklin Covey	Pair Corr
0.64	VLTO	Veralto Earnings Call This Week	Pair Corr
0.65	ADP	Automatic Data Processing	Pair Corr
0.73	HNI	HNI Corp	Pair Corr
0.8	HQI	Hirequest	Pair Corr
0.65	JOB	GEE Group	Pair Corr
0.64	KELYB	Kelly Services B	Pair Corr
0.63	KELYA	Kelly Services A	Pair Corr

Moving against Steelcase Stock

0.44	NL	NL Industries	Pair Corr
0.44	VSEC	VSE Corporation	Pair Corr
0.63	WLDN	Willdan Group	Pair Corr
0.38	ACU	Acme United Earnings Call Tomorrow	Pair Corr
0.36	ROL	Rollins Earnings Call This Week	Pair Corr
0.32	GFL	Gfl Environmental	Pair Corr
0.67	PYCR	Paycor HCM	Pair Corr
0.36	WNS	WNS Holdings Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EBF	ACCO	ACTG	HNI
EBF		0.53	0.68	0.44	EBF
ACCO	0.53		0.86	0.84	ACCO
ACTG	0.68	0.86		0.86	ACTG
HNI	0.44	0.84	0.86		HNI
	EBF	ACCO	ACTG	HNI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Steelcase Stock performing well and Steelcase 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 Steelcase'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
EBF	1.04	(0.06)	(0.20)	1.81	(2.35)	6.53
ACCO	2.35	(0.42)	1.08	3.73	(4.85)	22.61
ACTG	1.69	(0.44)	(0.61)	2.76	(5.00)	17.30
HNI	1.50	(0.08)	(0.14)	3.19	(3.52)	10.66

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC