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AI SCS Forecast

Price Forecast:

Bearish <-> Bullish

Bullish Case: SCS is likely to benefit from a resurgence in office furniture demand as hybrid work evolves, coupled with potential positive earnings revisions. This may drive prices above $15, supported by implied volatility trends indicating bullish sentiment.

Bearish Case: Continued market uncertainty and potential recession fears could weigh on SCS performance, hindering demand and possibly pushing prices below $10. The historical return surface suggests risks of significant negative returns over extended holding periods.

Potential Outcomes:

1. 55% chance SCS sees upside from office demand and positive earnings.

2. 25% chance market volatility maintains downward pressure on prices.

3. 20% chance a new economic downturn sharply reduces demand and profitability.

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September 22, 2024

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Correlated Assets

Assets that tend to move strongly with SCS

UWM ProShares Ultra Russell2000 (0.86)

URTY ProShares UltraPro Russell2000 (0.86)

VTWO Vanguard Russell 2000 Index (0.82)

SNV Synovus Financial (0.82)

WAL Western Alliance Bancorp (0.82)

Uncorrelated Assets

Assets with little price relationship to SCS

JD JD.com (0.0)

WSM Williams-Sonoma (-0.0)

EXPI eXp World (-0.0)

GILD Gilead Sciences (-0.0)

AVGO Broadcom (0.0)

Anticorrelated Assets

Assets that tend to move strongly against SCS

SDS ProShares UltraShort S&P500 (-0.71)

SPXS Direxion Daily S&P 500 Bear 3X Shares (-0.71)

SDOW ProShares UltraPro Short Dow30 (-0.77)

DRV Direxion Daily Real Estate Bear 3X Shares (-0.8)

RWM ProShares Trust - ProShares Short Russell2000 (-0.82)

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