Use this graph to draw trend lines for Sonoco Products Co. You can use it to identify possible trend reversals for Sonoco as well as other signals and approximate when it will take place. Remember, you need at least two touches of the trend line with actual Sonoco price movement. To start drawing, click on the pencil icon on top-right. To remove the trend, use eraser icon.
Sonoco Best Fit Change Line
The following chart estimates an ordinary least squares regression model for Sonoco Products Co applied against its price change over selected period. The best fit line has a slop of 0.04 %
which may imply that Sonoco Products Co will maintain its good market sentiment and make money for investors. It has 44 observation points and regression sum of squers of 3.49 which is sum of squared deviations of the predicted Sonoco price change against its avarage change.
Sonoco has a best fit line with a correlation coefficient of 0.74. and coefficient of determination of 0.55. Note, that about 65.0%
of the company shares are owned by institutional investors