Cemex SAB Correlations

CX Stock

USD 5.47 0.14 2.63%

The current 90-days correlation between Cemex SAB de and CRH PLC ADR is 0.35 (i.e., Weak diversification). The correlation of Cemex SAB 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.

Cemex SAB Correlation With Market

Weak diversification

The correlation between Cemex SAB de and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cemex SAB de 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 Cemex SAB de. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Cemex Stock

0.71

NovaGold Resources

Pair Corr

Moving against Cemex Stock

0.69	CPAC	Cementos Pacasmayo SAA	Pair Corr
0.53	SUM	Summit Materials Sell-off Trend	Pair Corr
0.52	USLM	United States Lime	Pair Corr
0.51	LOMA	Loma Negra Compania	Pair Corr
0.47	CRH	CRH PLC ADR	Pair Corr
0.45	KNF	Knife River	Pair Corr
0.43	MLM	Martin Marietta Materials	Pair Corr
0.43	VMC	Vulcan Materials	Pair Corr
0.37	AA	Alcoa Corp Buyout Trend	Pair Corr
0.35	TGLS	Tecnoglass	Pair Corr
0.31	EXP	Eagle Materials	Pair Corr
0.56	MP	MP Materials Corp	Pair Corr
0.54	IE	Ivanhoe Electric	Pair Corr
0.51	NC	NACCO Industries	Pair Corr
0.41	OC	Owens Corning	Pair Corr
0.38	NX	Quanex Building Products Fiscal Year End 12th of December 2024	Pair Corr
0.32	AG	First Majestic Silver Potential Growth	Pair Corr
0.43	WS	Worthington Steel	Pair Corr
0.41	OR	Osisko Gold Ro	Pair Corr
0.32	VKSC	Viskase Companies	Pair Corr
0.32	ECVT	Ecovyst	Pair Corr

Related Correlations Analysis

	MLM	CRH	EXP	SUM	USLM	VMC	JHX	CPAC
MLM		0.9	0.77	0.94	0.88	0.97	-0.6	0.82	MLM
CRH	0.9		0.87	0.88	0.95	0.93	-0.34	0.81	CRH
EXP	0.77	0.87		0.64	0.86	0.75	-0.15	0.65	EXP
SUM	0.94	0.88	0.64		0.87	0.96	-0.66	0.87	SUM
USLM	0.88	0.95	0.86	0.87		0.92	-0.42	0.85	USLM
VMC	0.97	0.93	0.75	0.96	0.92		-0.56	0.84	VMC
JHX	-0.6	-0.34	-0.15	-0.66	-0.42	-0.56		-0.62	JHX
CPAC	0.82	0.81	0.65	0.87	0.85	0.84	-0.62		CPAC
	MLM	CRH	EXP	SUM	USLM	VMC	JHX	CPAC

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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

VMC	+ 0.97	MLM
VMC	+ 0.96	SUM
USLM	+ 0.95	CRH
SUM	+ 0.94	MLM
VMC	+ 0.93	CRH
VMC	+ 0.92	USLM

High negative correlations

JHX	- 0.66	SUM
CPAC	- 0.62	JHX
JHX	- 0.6	MLM
JHX	- 0.56	VMC
JHX	- 0.42	USLM
JHX	- 0.34	CRH

Risk-Adjusted Indicators

There is a big difference between Cemex Stock performing well and Cemex SAB 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 Cemex SAB'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
MLM	1.20	0.00	0.02	0.10	1.51	(1.22)	2.71	(2.61)	8.83
CRH	1.11	0.12	0.08	0.21	1.25	(1.15)	2.72	(2.08)	6.07
EXP	1.41	0.13	0.11	0.18	1.47	(1.57)	3.13	(2.12)	9.50
SUM	1.67	0.17	0.10	0.20	1.88	(1.84)	4.05	(2.73)	9.88
USLM	1.98	0.70	0.35	0.37	1.43	(2.25)	5.56	(3.18)	16.29
VMC	1.18	0.07	0.07	0.15	1.22	(1.30)	2.79	(2.39)	8.27
JHX	1.88	0.08	0.04	0.18	2.02	(2.25)	5.65	(3.51)	16.43
CPAC	1.07	0.17	0.02	(0.38)	1.36	(1.18)	2.42	(2.49)	8.56

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