Cabot Correlations

CBT Stock

USD 77.02 1.99 2.65%

The current 90-days correlation between Cabot and Quaker Chemical is 0.69 (i.e., Poor diversification). The correlation of Cabot 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.

Cabot Correlation With Market

Poor diversification

The correlation between Cabot and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cabot and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cabot Stock

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

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

Moving together with Cabot Stock

0.61	CC	Chemours Earnings Call Tomorrow	Pair Corr
0.66	OEC	Orion Engineered Carbons	Pair Corr
0.72	WLK	Westlake Chemical	Pair Corr

Moving against Cabot Stock

0.49	WDFC	WD 40 Company	Pair Corr
0.37	AVNT	Avient Corp	Pair Corr
0.31	BCPC	Balchem Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	KWR	MTX	IOSP	FUL	SXT	ODC	OEC	ECVT	AXTA	AVNT
KWR		0.44	-0.21	0.83	0.79	0.87	-0.27	0.82	-0.53	-0.06	KWR
MTX	0.44		-0.04	0.48	0.27	0.34	-0.07	0.45	-0.01	0.4	MTX
IOSP	-0.21	-0.04		-0.12	-0.1	-0.5	0.54	-0.4	0.78	0.36	IOSP
FUL	0.83	0.48	-0.12		0.8	0.73	-0.19	0.74	-0.33	-0.1	FUL
SXT	0.79	0.27	-0.1	0.8		0.79	-0.45	0.85	-0.37	0.12	SXT
ODC	0.87	0.34	-0.5	0.73	0.79		-0.55	0.93	-0.74	-0.07	ODC
OEC	-0.27	-0.07	0.54	-0.19	-0.45	-0.55		-0.62	0.6	-0.17	OEC
ECVT	0.82	0.45	-0.4	0.74	0.85	0.93	-0.62		-0.61	0.17	ECVT
AXTA	-0.53	-0.01	0.78	-0.33	-0.37	-0.74	0.6	-0.61		0.36	AXTA
AVNT	-0.06	0.4	0.36	-0.1	0.12	-0.07	-0.17	0.17	0.36		AVNT
	KWR	MTX	IOSP	FUL	SXT	ODC	OEC	ECVT	AXTA	AVNT

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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

ECVT	+ 0.93	ODC
ODC	+ 0.87	KWR
ECVT	+ 0.85	SXT
FUL	+ 0.83	KWR
ECVT	+ 0.82	KWR
SXT	+ 0.8	FUL

High negative correlations

AXTA	- 0.74	ODC
ECVT	- 0.62	OEC
AXTA	- 0.61	ECVT
OEC	- 0.55	ODC
AXTA	- 0.53	KWR
ODC	- 0.5	IOSP

Risk-Adjusted Indicators

There is a big difference between Cabot Stock performing well and Cabot 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 Cabot'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
KWR	1.96	0.08	0.07	0.23	1.75	(2.37)	4.98	(3.47)	15.11
MTX	1.67	(0.08)	(0.02)	0.10	2.51	(1.70)	3.51	(3.37)	12.14
IOSP	1.08	(0.14)	(0.10)	0.00	1.51	(1.03)	2.47	(2.76)	6.32
FUL	1.57	0.19	0.01	(2.85)	1.45	(1.97)	3.43	(2.56)	13.34
SXT	1.23	0.50	0.53	1.11	0.00	(1.58)	4.75	(1.08)	15.95
ODC	1.48	0.39	0.20	0.61	1.32	(1.70)	3.13	(2.74)	12.23
OEC	2.16	(0.19)	0.00	(0.05)	0.00	0.00	4.20	(5.09)	13.26
ECVT	1.77	0.56	0.19	1.22	1.91	(2.03)	4.82	(2.79)	14.44
AXTA	1.33	(0.25)	0.00	(0.05)	0.00	0.00	2.61	(2.48)	9.69
AVNT	1.64	(0.10)	(0.01)	0.10	1.78	(1.79)	3.91	(3.51)	10.10

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