Dow Correlations

DOW Stock

USD 31.46 3.43 9.83%

The current 90-days correlation between Dow Inc and Braskem SA Class is 0.07 (i.e., Significant diversification). The correlation of Dow 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.

Dow Correlation With Market

Very weak diversification

The correlation between Dow Inc and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dow Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dow Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Dow Stock

0.81	AA	Alcoa Corp	Pair Corr
0.68	CE	Celanese	Pair Corr
0.81	WS	Worthington Steel	Pair Corr
0.78	HYMCW	Hycroft Mining Holding	Pair Corr
0.68	CMC	Commercial Metals	Pair Corr

Moving against Dow Stock

0.79	DRD	DRDGOLD Limited ADR	Pair Corr
0.78	AGI	Alamos Gold	Pair Corr
0.74	AEM	Agnico Eagle Mines	Pair Corr
0.73	AU	AngloGold Ashanti plc	Pair Corr
0.65	BTG	B2Gold Corp	Pair Corr
0.62	AG	First Majestic Silver	Pair Corr
0.61	MT	ArcelorMittal SA ADR	Pair Corr
0.6	OR	Osisko Gold Ro Sell-off Trend	Pair Corr
0.58	X	United States Steel	Pair Corr
0.58	EQX	Equinox Gold Corp Sell-off Trend	Pair Corr
0.53	TX	Ternium SA ADR	Pair Corr
0.51	HYMCL	Hycroft Mining Holding	Pair Corr
0.49	EGO	Eldorado Gold Corp	Pair Corr
0.33	DC	Dakota Gold Corp	Pair Corr
0.78	FNV	Franco Nevada	Pair Corr
0.75	FSM	Fortuna Silver Mines	Pair Corr
0.75	GFI	Gold Fields Sell-off Trend	Pair Corr
0.7	HMY	Harmony Gold Mining	Pair Corr
0.7	NGD	New Gold	Pair Corr
0.68	KGC	Kinross Gold Aggressive Push	Pair Corr
0.6	NEM	Newmont Goldcorp Corp	Pair Corr
0.55	IDR	Idaho Strategic Resources	Pair Corr
0.52	SID	Companhia Siderurgica	Pair Corr
0.45	EXK	Endeavour Silver Corp	Pair Corr
0.39	IAG	IAMGold	Pair Corr

Related Correlations Analysis

	HUN	BAK	UNVR	ASIX	TROX	CE	GPRE	LXU	BFFAF	VHI
HUN		0.27	0.0	0.51	0.37	0.31	0.3	0.45	0.0	0.4	HUN
BAK	0.27		0.0	0.74	0.6	0.54	0.41	0.63	-0.19	0.44	BAK
UNVR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	UNVR
ASIX	0.51	0.74	0.0		0.83	0.7	0.73	0.88	-0.54	0.72	ASIX
TROX	0.37	0.6	0.0	0.83		0.9	0.89	0.84	-0.74	0.89	TROX
CE	0.31	0.54	0.0	0.7	0.9		0.83	0.8	-0.68	0.88	CE
GPRE	0.3	0.41	0.0	0.73	0.89	0.83		0.76	-0.83	0.94	GPRE
LXU	0.45	0.63	0.0	0.88	0.84	0.8	0.76		-0.58	0.8	LXU
BFFAF	0.0	-0.19	0.0	-0.54	-0.74	-0.68	-0.83	-0.58		-0.77	BFFAF
VHI	0.4	0.44	0.0	0.72	0.89	0.88	0.94	0.8	-0.77		VHI
	HUN	BAK	UNVR	ASIX	TROX	CE	GPRE	LXU	BFFAF	VHI

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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

VHI	+ 0.94	GPRE
CE	+ 0.9	TROX
GPRE	+ 0.89	TROX
VHI	+ 0.89	TROX
LXU	+ 0.88	ASIX
VHI	+ 0.88	CE

High negative correlations

BFFAF	- 0.83	GPRE
VHI	- 0.77	BFFAF
BFFAF	- 0.74	TROX
BFFAF	- 0.68	CE
BFFAF	- 0.58	LXU
BFFAF	- 0.54	ASIX

Risk-Adjusted Indicators

There is a big difference between Dow Stock performing well and Dow 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 Dow'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
HUN	1.90	(0.20)	0.00	(0.24)	0.00	0.00	3.63	(3.98)	13.93
BAK	2.85	0.05	0.03	0.01	2.83	(3.78)	5.90	(4.61)	22.64
UNVR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASIX	1.81	(0.29)	0.00	(0.28)	0.00	0.00	2.44	(3.75)	14.24
TROX	2.67	(0.57)	0.00	(0.37)	0.00	0.00	4.34	(8.12)	16.13
CE	2.55	(0.30)	0.00	(0.25)	0.00	0.00	4.23	(4.19)	26.83
GPRE	3.55	(0.88)	0.00	1.37	0.00	0.00	6.31	(7.58)	26.78
LXU	2.21	(0.15)	0.00	(0.21)	0.00	0.00	3.41	(4.59)	28.17
BFFAF	1.98	0.15	0.11	(0.30)	2.07	(3.34)	5.57	(4.88)	19.64
VHI	2.16	(0.39)	0.00	(0.70)	0.00	0.00	3.72	(5.37)	12.94

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