Use Sappi to protect against small markets fluctuations. The stock experiences normal downward trend, but the immediate impact on correlations cannot be determined at the moment
As market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Sappi will likely underperform.
The median price of Sappi for the period between Wed, Apr 24, 2013 and Fri, May 24, 2013 is 2.83 with a coefficient of variation of 7.96. The daily time series for the period is distributed with a sample standard deviation of 0.22, arithmetic mean of 2.71, and mean deviation of 0.19. The Stock did not receive any noticable media coverage during the period.
Sappi Limited [SPP] is traded on New York Stock Exchange in USA. It is located in Johannesburg, and employs 14,039 people. The company currently falls under 'Mid-Cap' category with total capitalization of 1.24 B. Sappi Limited runs under Consumer Goods sector within Paper and Paper Products industry. This company has 521.5 M outstanding shares of which 20.33 K shares are at this time shorted by investors with about 1.4 days to cover shorted positions.
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