Scotts Miracle Correlations
| SMG Stock | USD 68.58 0.69 1.02% |
The correlation of Scotts Miracle 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Scotts Miracle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Scotts Miracle Gro moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between Scotts Miracle Gro and NYA is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Scotts Miracle Gro and NYA in the same portfolio, assuming nothing else is changed.
Scotts |
The ability to find closely correlated positions to Scotts Miracle could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Scotts Miracle 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 Scotts Miracle - 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 Scotts Miracle Gro to buy it.
Moving together with Scotts Stock
| 0.75 | CF | CF Industries Holdings Earnings Call This Week | PairCorr |
| 0.81 | AVD | American Vanguard Financial Report 14th of May 2024 | PairCorr |
| 0.64 | CGA | China Green Agriculture | PairCorr |
| 0.68 | FMC | FMC Corporation Financial Report 6th of May 2024 | PairCorr |
| 0.7 | ICL | ICL Israel Chemicals Financial Report 8th of May 2024 | PairCorr |
| 0.62 | MOS | Mosaic Financial Report 1st of May 2024 | PairCorr |
| 0.84 | NTR | Nutrien Sell-off Trend | PairCorr |
| 0.84 | SEED | Origin Agritech Downward Rally | PairCorr |
| 0.91 | MHGVY | Mowi ASA ADR | PairCorr |
| 0.64 | CTVA | Corteva Sell-off Trend | PairCorr |
Moving against Scotts Stock
| 0.85 | IVP | Inspire Veterinary | PairCorr |
| 0.85 | NITO | N2OFF Inc Symbol Change | PairCorr |
| 0.82 | LVRO | Lavoro Limited Class Fiscal Year End 6th of November 2024 | PairCorr |
| 0.79 | LVROW | Lavoro Limited Warrant | PairCorr |
| 0.72 | X | United States Steel Earnings Call Tomorrow | PairCorr |
| 0.61 | BIOX | Bioceres Crop Solutions Financial Report 8th of May 2024 | PairCorr |
| 0.45 | CC | Chemours Earnings Call Tomorrow | PairCorr |
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Risk-Adjusted Indicators
There is a big difference between Scotts Stock performing well and Scotts Miracle 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 Scotts Miracle'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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CTVA | 1.20 | 0.19 | 0.20 | 0.17 | 1.01 | 2.69 | 23.64 | |||
| CF | 1.09 | 0.02 | 0.00 | 0.10 | 1.58 | 2.59 | 9.82 | |||
| AVD | 2.28 | 0.18 | 0.05 | 0.34 | 2.73 | 4.73 | 31.28 | |||
| IPI | 1.81 | (0.08) | 0.00 | 0.04 | 3.27 | 4.49 | 16.61 | |||
| MOS | 1.24 | (0.19) | 0.00 | (0.03) | 0.00 | 2.22 | 9.55 | |||
| FMC | 2.31 | (0.03) | 0.02 | 0.07 | 3.50 | 3.94 | 22.10 | |||
| NTR | 1.35 | (0.04) | 0.01 | 0.05 | 1.37 | 3.10 | 10.41 | |||
| ICL | 1.73 | 0.00 | 0.02 | 0.08 | 1.93 | 4.53 | 10.65 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Scotts Miracle 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.Did you try this?
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Scotts Miracle Corporate Directors
Scotts Miracle corporate directors refer to members of a Scotts Miracle board of directors. The board of directors generally takes responsibility for the Scotts Miracle's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Scotts Miracle's board members must vote for the resolution. The Scotts Miracle board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Brian Finn | Independent Director | Profile | |
| Craig Hargreaves | Director | Profile | |
| Nancy Mistretta | Independent Director | Profile | |
| Thomas Kelly | Independent Director | Profile |
Already Invested in Scotts Miracle Gro?
The danger of trading Scotts Miracle Gro is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Scotts Miracle is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Scotts Miracle. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Scotts Miracle Gro is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Scotts Miracle Gro is a strong investment it is important to analyze Scotts Miracle's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Scotts Miracle's future performance. For an informed investment choice regarding Scotts Stock, refer to the following important reports: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Scotts Miracle Gro. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in population. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Complementary Tools for Scotts Stock analysis
When running Scotts Miracle's price analysis, check to measure Scotts Miracle's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Scotts Miracle is operating at the current time. Most of Scotts Miracle's value examination focuses on studying past and present price action to predict the probability of Scotts Miracle's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Scotts Miracle's price. Additionally, you may evaluate how the addition of Scotts Miracle to your portfolios can decrease your overall portfolio volatility.
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Is Scotts Miracle's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Scotts Miracle. If investors know Scotts will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Scotts Miracle listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.61) | Dividend Share 2.64 | Earnings Share (7.04) | Revenue Per Share 61.014 | Quarterly Revenue Growth (0.22) |
The market value of Scotts Miracle Gro is measured differently than its book value, which is the value of Scotts that is recorded on the company's balance sheet. Investors also form their own opinion of Scotts Miracle's value that differs from its market value or its book value, called intrinsic value, which is Scotts Miracle's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Scotts Miracle's market value can be influenced by many factors that don't directly affect Scotts Miracle's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Scotts Miracle's value and its price as these two are different measures arrived at by different means. Investors typically determine if Scotts Miracle is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Scotts Miracle's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.