Element Solutions Correlations

ESI Stock

USD 24.69 0.46 1.90%

The current 90-days correlation between Element Solutions and Quaker Chemical is 0.58 (i.e., Very weak diversification). The correlation of Element Solutions 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.

Element Solutions Correlation With Market

Good diversification

The correlation between Element Solutions and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Element Solutions and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Element Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Element Solutions. 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 detail on how to invest in Element Stock please use our How to Invest in Element Solutions guide.

Moving together with Element Stock

0.95	DD	Dupont De Nemours	Pair Corr
0.88	ECVT	Ecovyst	Pair Corr
0.87	ALB-PA	Albemarle	Pair Corr
0.86	ALB	Albemarle Corp	Pair Corr
0.87	APD	Air Products	Pair Corr
0.81	CMT	Core Molding Technologies	Pair Corr
0.82	ECL	Ecolab Inc Sell-off Trend	Pair Corr
0.89	FSI	Flexible Solutions	Pair Corr
0.88	FUL	H B Fuller	Pair Corr
0.84	KOP	Koppers Holdings	Pair Corr
0.83	KWR	Quaker Chemical	Pair Corr
0.63	LIN	Linde plc Ordinary	Pair Corr
0.75	LYB	LyondellBasell Industries	Pair Corr
0.95	NEU	NewMarket	Pair Corr
0.9	PPG	PPG Industries	Pair Corr
0.91	PRM	Perimeter Solutions Sell-off Trend	Pair Corr
0.64	RPM	RPM International Earnings Call This Week	Pair Corr
0.9	SCL	Stepan Company	Pair Corr
0.69	SSL	Sasol	Pair Corr
0.93	SXT	Sensient Technologies Earnings Call This Week	Pair Corr
0.75	GEVO	Gevo Inc	Pair Corr
0.81	HWKN	Hawkins	Pair Corr

Moving against Element Stock

0.66	FEAM	5E Advanced Materials	Pair Corr
0.43	KRO	Kronos Worldwide	Pair Corr
0.45	OEC	Orion Engineered Carbons	Pair Corr
0.43	SDSTW	Stardust Power	Pair Corr
0.41	TSE	Trinseo SA	Pair Corr
0.32	WLK	Westlake Chemical	Pair Corr

Related Correlations Analysis

	ODC	KWR	ECVT	MTX	SXT	FUL	ASH	IOSP	OEC	NGVT
ODC		0.85	0.93	0.3	0.78	0.73	0.27	-0.46	-0.57	0.83	ODC
KWR	0.85		0.81	0.31	0.76	0.86	0.49	-0.27	-0.3	0.74	KWR
ECVT	0.93	0.81		0.4	0.85	0.74	0.22	-0.34	-0.64	0.95	ECVT
MTX	0.3	0.31	0.4		0.2	0.45	0.37	0.0	-0.05	0.52	MTX
SXT	0.78	0.76	0.85	0.2		0.78	0.36	-0.04	-0.47	0.87	SXT
FUL	0.73	0.86	0.74	0.45	0.78		0.57	-0.08	-0.2	0.74	FUL
ASH	0.27	0.49	0.22	0.37	0.36	0.57		0.29	0.32	0.29	ASH
IOSP	-0.46	-0.27	-0.34	0.0	-0.04	-0.08	0.29		0.52	-0.15	IOSP
OEC	-0.57	-0.3	-0.64	-0.05	-0.47	-0.2	0.32	0.52		-0.6	OEC
NGVT	0.83	0.74	0.95	0.52	0.87	0.74	0.29	-0.15	-0.6		NGVT
	ODC	KWR	ECVT	MTX	SXT	FUL	ASH	IOSP	OEC	NGVT

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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

NGVT	+ 0.95	ECVT
ECVT	+ 0.93	ODC
NGVT	+ 0.87	SXT
FUL	+ 0.86	KWR
KWR	+ 0.85	ODC
SXT	+ 0.85	ECVT

High negative correlations

OEC	- 0.64	ECVT
NGVT	- 0.6	OEC
OEC	- 0.57	ODC
OEC	- 0.47	SXT
IOSP	- 0.46	ODC
IOSP	- 0.34	ECVT

Risk-Adjusted Indicators

There is a big difference between Element Stock performing well and Element Solutions 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 Element Solutions' 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
ODC	1.47	0.44	0.23	0.64	1.30	(1.70)	3.13	(2.74)	12.23
KWR	1.91	0.29	0.06	(0.77)	1.75	(2.33)	4.98	(3.47)	15.11
ECVT	1.77	0.51	0.19	1.01	1.90	(2.01)	4.82	(2.79)	14.44
MTX	1.62	(0.13)	(0.04)	0.02	2.46	(1.65)	3.12	(3.37)	12.14
SXT	1.23	0.52	0.58	1.07	0.00	(1.58)	4.75	(1.08)	15.95
FUL	1.55	0.22	0.06	(6.36)	1.43	(1.92)	3.43	(2.56)	13.34
ASH	1.79	(0.14)	(0.03)	0.03	2.56	(1.79)	3.33	(3.12)	12.88
IOSP	1.08	(0.17)	0.00	(0.08)	0.00	0.00	2.47	(2.76)	6.32
OEC	2.09	(0.22)	0.00	(0.14)	0.00	0.00	4.11	(5.09)	13.26
NGVT	1.81	0.43	0.24	0.47	1.35	(2.09)	5.38	(3.04)	13.91

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