SW Smurfit WestRock plc

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

SW vs IP

Both indexed to 100 at 2026-05-11.

SW IP · range 88–138 · 2026-05-11 → 2026-11-06

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

IP International Paper Co.

ρ +0.76beyond mkt +0.59holdout +0.83stable 100%robust

PKG Packaging Corp of America

ρ +0.72beyond mkt +0.49holdout +0.80stable 100%robust

WOOD iShares Global Timber & Forestry ETF

ρ +0.68beyond mkt +0.42holdout +0.72stable 100%robust

CRH CRH Public Limited Company

ρ +0.62beyond mkt +0.27holdout +0.67stable 100%robust

SLVM Sylvamo Corporation

ρ +0.55beyond mkt +0.24holdout +0.56stable 100%robust

XLB State Street Materials Select Sector SPDR ETF

ρ +0.66beyond mkt +0.24holdout +0.68stable 100%robust

BTAL AGF U.S. Market Neutral Anti-Beta Fund

ρ -0.36beyond mkt -0.07holdout -0.37stable 100%robust

VIXM ProShares VIX Mid-Term Futures ETF

ρ -0.34beyond mkt +0.03holdout -0.31stable 100%robust

VXX iPath Series B S&P 500 VIX Short-Term Futures ETN

ρ -0.39beyond mkt +0.02holdout -0.35stable 100%robust

No day-to-day relationship, but 5- or 10-day returns move together.

TCPC BlackRock TCP Capital Corp. Common Stock

horizon 10dρ +0.41holdout +0.23stable 100%robust

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

KEX Kirby Corporation

Δ -0.60recent -0.33prior +0.27beyond mkt -0.13

SID Companhia Siderurgica Nacional S.A. (CSN)

Δ -0.60recent -0.24prior +0.35beyond mkt +0.02

MTRN Materion Corporation

Δ -0.55recent -0.10prior +0.45beyond mkt -0.03

ACTG Acacia Research Corporation (Acacia Tech) Common Stock

Δ -0.53recent -0.21prior +0.32beyond mkt +0.01

AHLT American Beacon AHL Trend ETF

Δ -0.53recent -0.37prior +0.16beyond mkt -0.05

IEX IDEX Corporation

Δ -0.53recent -0.03prior +0.49beyond mkt -0.07

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared
WOOD iShares Global Timber & Forestry ETF	+0.42	+0.68	7
PKG Packaging Corp of America	+0.49	+0.72	11
IP International Paper Co.	+0.59	+0.76	15