Avient Corp Correlations

AVNT Stock

USD 29.29 0.86 2.85%

The current 90-days correlation between Avient Corp and H B Fuller is 0.73 (i.e., Poor diversification). The correlation of Avient Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Avient Corp Correlation With Market

Very weak diversification

The correlation between Avient Corp and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avient Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Avient Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Avient Corp. 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.

For more information on how to buy Avient Stock please use our How to Invest in Avient Corp guide.

Moving together with Avient Stock

0.73	OMKARCHEM	Omkar Speciality Che	Pair Corr
0.88	BODALCHEM	Bodal Chemicals	Pair Corr
0.72	ASAHISONG	Asahi Songwon Colors	Pair Corr
0.8	ASH	Ashland Global Holdings	Pair Corr
0.78	FUL	H B Fuller	Pair Corr
0.83	MTX	Minerals Technologies	Pair Corr
0.96	RPM	RPM International	Pair Corr
0.81	SCL	Stepan Company	Pair Corr
0.87	SXT	Sensient Technologies	Pair Corr
0.74	CHEMBOND	Chembond Chemicals	Pair Corr
0.85	PLASTIBLEN	Plastiblends India	Pair Corr
0.7	603027	Qianhe CondimentFood Split	Pair Corr
0.75	TAINWALCHM	Tainwala Chemical	Pair Corr
0.8	SUDARSCHEM	Sudarshan Chemical	Pair Corr
0.65	301193	Ningbo Homelink Eco	Pair Corr
0.66	TIRUMALCHM	Thirumalai Chemicals	Pair Corr
0.87	KOTHARIPET	Kothari Petrochemicals	Pair Corr

Moving against Avient Stock

0.85	600691	Yangmei Chemical	Pair Corr
0.83	300919	Cngr Advanced Material	Pair Corr
0.82	ALB	Albemarle Corp	Pair Corr
0.76	PRIVISCL	Privi Speciality Che	Pair Corr
0.72	SHREEPUSHK	Shree Pushkar Chemicals	Pair Corr
0.67	CHEMCON	Chemcon Speciality	Pair Corr
0.51	GRWRHITECH	Garware Hi Tech	Pair Corr
0.32	603255	Liaoning Dingjide	Pair Corr
0.88	300073	Beijing Easpring Material	Pair Corr
0.73	002476	Shandong Polymer Bio	Pair Corr
0.68	688378	Jilin OLED Material	Pair Corr
0.45	ROSSARI	Rossari Biotech	Pair Corr
0.66	POCL	Pondy Oxides Chemicals	Pair Corr
0.57	002054	Dymatic Chemicals	Pair Corr

Related Correlations Analysis

	FUL	HWKN	WDFC	CBT	CENX	PRM	OLN	MEOH	ASH	SXT
FUL		0.48	0.62	0.69	-0.52	-0.29	0.57	0.11	0.66	0.58	FUL
HWKN	0.48		0.25	0.8	-0.29	-0.66	0.78	0.14	0.14	0.34	HWKN
WDFC	0.62	0.25		0.71	-0.89	-0.52	-0.02	-0.25	0.88	0.95	WDFC
CBT	0.69	0.8	0.71		-0.75	-0.66	0.57	0.05	0.62	0.76	CBT
CENX	-0.52	-0.29	-0.89	-0.75		0.45	-0.06	0.12	-0.83	-0.89	CENX
PRM	-0.29	-0.66	-0.52	-0.66	0.45		-0.2	0.37	-0.33	-0.57	PRM
OLN	0.57	0.78	-0.02	0.57	-0.06	-0.2		0.5	0.01	0.05	OLN
MEOH	0.11	0.14	-0.25	0.05	0.12	0.37	0.5		-0.32	-0.31	MEOH
ASH	0.66	0.14	0.88	0.62	-0.83	-0.33	0.01	-0.32		0.9	ASH
SXT	0.58	0.34	0.95	0.76	-0.89	-0.57	0.05	-0.31	0.9		SXT
	FUL	HWKN	WDFC	CBT	CENX	PRM	OLN	MEOH	ASH	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

SXT	+ 0.95	WDFC
SXT	+ 0.9	ASH
ASH	+ 0.88	WDFC
CBT	+ 0.8	HWKN
OLN	+ 0.78	HWKN
SXT	+ 0.76	CBT

High negative correlations

SXT	- 0.89	CENX
CENX	- 0.89	WDFC
ASH	- 0.83	CENX
CENX	- 0.75	CBT
PRM	- 0.66	CBT
PRM	- 0.66	HWKN

Risk-Adjusted Indicators

There is a big difference between Avient Stock performing well and Avient Corp 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 Avient Corp'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	1.30	(0.13)	0.00	(0.03)	0.00	0.00	3.14	(3.14)	8.83
HWKN	1.88	(0.62)	0.00	(0.28)	0.00	0.00	3.56	(4.46)	13.12
WDFC	1.18	(0.23)	0.00	(0.35)	0.00	0.00	2.65	(2.17)	8.81
CBT	1.20	(0.50)	0.00	(0.31)	0.00	0.00	2.28	(2.89)	11.93
CENX	2.96	0.29	0.08	0.29	3.57	(3.32)	8.65	(6.55)	27.76
PRM	2.24	0.50	0.15	0.76	2.47	(2.30)	4.53	(3.84)	30.19
OLN	2.42	(0.16)	(0.02)	0.01	3.46	(2.60)	5.57	(4.10)	22.62
MEOH	1.95	0.06	0.06	0.11	1.80	(2.57)	4.09	(3.60)	21.42
ASH	1.30	(0.11)	0.00	(0.03)	0.00	0.00	3.11	(2.86)	8.95
SXT	1.46	(0.42)	0.00	(0.32)	0.00	0.00	2.36	(4.28)	9.55

Avient Corp Corporate Management

Michael Garratt	Senior Vice President and Presidentident - Color, Additives and Inks, EMEA	Profile
Kim Mink	Independent Director	Profile
Robert James	Assistant Secretary	Profile
Richard Fearon	Lead Independent Director	Profile
Joao Neto	Chief Human Resource Officer, Senior Vice President	Profile

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