Ashland Global Correlations

ASH Stock

USD 71.71 0.00 0.00%

The current 90-days correlation between Ashland Global Holdings and H B Fuller is 0.1 (i.e., Average diversification). The correlation of Ashland Global 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Ashland Global Correlation With Market

Good diversification

The correlation between Ashland Global Holdings and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ashland Global Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ashland Global Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Ashland Stock

0.74	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.8	FF	FutureFuel Corp	Pair Corr
0.91	DNMR	Danimer Scientific Upward Rally	Pair Corr
0.68	CBT	Cabot	Pair Corr
0.74	ECL	Ecolab Inc	Pair Corr
0.84	EMN	Eastman Chemical	Pair Corr
0.69	FUL	H B Fuller Fiscal Year End 15th of January 2025	Pair Corr
0.93	IFF	International Flavors	Pair Corr
0.8	KRO	Kronos Worldwide	Pair Corr
0.91	LIN	Linde plc Ordinary	Pair Corr
0.88	LYB	LyondellBasell Industries	Pair Corr
0.75	PPG	PPG Industries Sell-off Trend	Pair Corr
0.85	SSL	Sasol	Pair Corr
0.88	WLK	Westlake Chemical	Pair Corr

Moving against Ashland Stock

0.71	ECVT	Ecovyst	Pair Corr
0.46	ALB	Albemarle Corp	Pair Corr
0.44	MTX	Minerals Technologies	Pair Corr
0.42	ESI	Element Solutions	Pair Corr
0.39	ALB-PA	Albemarle	Pair Corr
0.35	FSI	Flexible Solutions	Pair Corr
0.83	NTIC	Northern Technologies	Pair Corr
0.65	NGVT	Ingevity Corp	Pair Corr
0.49	RPM	RPM International	Pair Corr
0.43	NANX	Nanophase Technol	Pair Corr
0.42	IOSP	Innospec	Pair Corr
0.38	AXTA	Axalta Coating Systems Sell-off Trend	Pair Corr
0.34	HWKN	Hawkins	Pair Corr
0.32	ALTM	Arcadium Lithium plc	Pair Corr

Related Correlations Analysis

	FUL	ESI	BCPC	AVTR	MTX	AXTA	IOSP	ODC	KWR	SXT
FUL		-0.08	0.34	0.67	0.0	0.1	0.2	-0.64	0.75	0.71	FUL
ESI	-0.08		0.76	-0.64	0.74	0.87	0.73	0.0	0.27	0.41	ESI
BCPC	0.34	0.76		-0.32	0.75	0.85	0.87	-0.12	0.57	0.66	BCPC
AVTR	0.67	-0.64	-0.32		-0.63	-0.57	-0.45	-0.31	0.28	0.19	AVTR
MTX	0.0	0.74	0.75	-0.63		0.82	0.89	0.06	0.3	0.51	MTX
AXTA	0.1	0.87	0.85	-0.57	0.82		0.84	-0.13	0.4	0.48	AXTA
IOSP	0.2	0.73	0.87	-0.45	0.89	0.84		0.03	0.5	0.61	IOSP
ODC	-0.64	0.0	-0.12	-0.31	0.06	-0.13	0.03		-0.59	-0.38	ODC
KWR	0.75	0.27	0.57	0.28	0.3	0.4	0.5	-0.59		0.76	KWR
SXT	0.71	0.41	0.66	0.19	0.51	0.48	0.61	-0.38	0.76		SXT
	FUL	ESI	BCPC	AVTR	MTX	AXTA	IOSP	ODC	KWR	SXT

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IOSP	+ 0.89	MTX
AXTA	+ 0.87	ESI
IOSP	+ 0.87	BCPC
AXTA	+ 0.85	BCPC
IOSP	+ 0.84	AXTA
AXTA	+ 0.82	MTX

High negative correlations

AVTR	- 0.64	ESI
ODC	- 0.64	FUL
MTX	- 0.63	AVTR
KWR	- 0.59	ODC
AXTA	- 0.57	AVTR
IOSP	- 0.45	AVTR

Risk-Adjusted Indicators

There is a big difference between Ashland Stock performing well and Ashland Global 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 Ashland Global'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
FUL	0.94	(0.30)	0.00	(0.21)	0.00	0.00	1.50	(1.92)	9.66
ESI	1.21	(0.02)	0.00	(0.83)	0.00	0.00	3.78	(2.11)	13.05
BCPC	0.98	(0.11)	0.00	(0.07)	0.00	0.00	1.62	(1.95)	8.32
AVTR	1.13	(0.38)	0.00	(0.40)	0.00	0.00	2.06	(2.70)	7.23
MTX	1.28	0.03	0.03	0.04	1.51	(1.36)	2.46	(2.51)	13.23
AXTA	1.22	(0.09)	0.00	(0.06)	0.00	0.00	2.53	(2.71)	12.01
IOSP	1.14	(0.06)	0.00	(0.01)	0.00	0.00	2.03	(2.10)	16.32
ODC	1.65	0.35	0.18	0.58	1.47	(1.89)	4.00	(2.37)	20.57
KWR	1.49	(0.31)	0.00	(0.14)	0.00	0.00	1.91	(2.64)	18.04
SXT	0.98	(0.12)	0.00	(0.06)	0.00	0.00	1.82	(2.19)	9.89

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