Huntsman Correlations

HUN Stock

USD 13.72 0.07 0.51%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Huntsman moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Huntsman moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Huntsman Correlation With Market

Poor diversification

The correlation between Huntsman and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huntsman and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Huntsman. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

To learn how to invest in Huntsman Stock, please use our How to Invest in Huntsman guide.

Moving together with Huntsman Stock

0.86	AA	Alcoa Corp	Pair Corr
0.73	WS	Worthington Steel	Pair Corr
0.74	WLKP	Westlake Chemical	Pair Corr
0.64	BAK	Braskem SA Class	Pair Corr
0.83	CLF	Cleveland Cliffs Earnings Call This Week	Pair Corr
0.79	CMC	Commercial Metals	Pair Corr
0.93	DOW	Dow Inc	Pair Corr
0.76	ERO	Ero Copper Corp	Pair Corr
0.71	FCX	Freeport McMoran Copper Earnings Call This Week	Pair Corr
0.77	GGB	Gerdau SA ADR	Pair Corr
0.76	LXU	Lsb Industries	Pair Corr
0.78	NUE	Nucor Corp Earnings Call This Week	Pair Corr
0.68	OLN	Olin	Pair Corr
0.7	PFH	Prudential Financial 4125	Pair Corr
0.75	ZEUS	Olympic Steel	Pair Corr
0.92	KALU	Kaiser Aluminum Earnings Call This Week	Pair Corr
0.71	MEOH	Methanex Earnings Call This Week	Pair Corr
0.72	SCCO	Southern Copper	Pair Corr
0.72	ASIX	AdvanSix	Pair Corr
0.68	ASTL	Algoma Steel Group	Pair Corr
0.64	STLD	Steel Dynamics Earnings Call This Week	Pair Corr
0.67	TROX	Tronox Holdings PLC	Pair Corr

Moving against Huntsman Stock

0.67	EGO	Eldorado Gold Corp	Pair Corr
0.67	IDR	Idaho Strategic Resources	Pair Corr
0.64	HMY	Harmony Gold Mining Trending	Pair Corr
0.55	X	United States Steel	Pair Corr
0.32	GOLD	Barrick Gold Corp Aggressive Push	Pair Corr
0.57	AU	AngloGold Ashanti plc	Pair Corr

Related Correlations Analysis

	VHI	UNVR	LXU	WLKP	BAK	DOW	ASIX	MEOH	SIRE	GPRE
VHI		0.0	0.88	0.33	0.74	0.72	0.81	0.83	0.0	0.95	VHI
UNVR	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	UNVR
LXU	0.88	0.0		0.61	0.81	0.9	0.92	0.94	0.0	0.87	LXU
WLKP	0.33	0.0	0.61		0.68	0.73	0.71	0.67	0.0	0.38	WLKP
BAK	0.74	0.0	0.81	0.68		0.74	0.86	0.83	0.0	0.69	BAK
DOW	0.72	0.0	0.9	0.73	0.74		0.85	0.87	0.0	0.74	DOW
ASIX	0.81	0.0	0.92	0.71	0.86	0.85		0.96	0.0	0.84	ASIX
MEOH	0.83	0.0	0.94	0.67	0.83	0.87	0.96		0.0	0.88	MEOH
SIRE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SIRE
GPRE	0.95	0.0	0.87	0.38	0.69	0.74	0.84	0.88	0.0		GPRE
	VHI	UNVR	LXU	WLKP	BAK	DOW	ASIX	MEOH	SIRE	GPRE

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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

MEOH	+ 0.96	ASIX
GPRE	+ 0.95	VHI
MEOH	+ 0.94	LXU
ASIX	+ 0.92	LXU
DOW	+ 0.9	LXU
LXU	+ 0.88	VHI

High negative correlations

GPRE	- 0.0	SIRE
SIRE	- 0.0	MEOH
SIRE	- 0.0	ASIX
SIRE	- 0.0	DOW
SIRE	- 0.0	BAK
SIRE	- 0.0	WLKP

Risk-Adjusted Indicators

There is a big difference between Huntsman Stock performing well and Huntsman 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 Huntsman'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VHI	2.35	(0.38)	(0.59)	4.99	(6.06)	14.59
UNVR	0.00	0.00	0.00	0.00	0.00	0.00
LXU	2.68	(0.30)	(0.28)	4.62	(5.86)	32.66
WLKP	0.83	0.03	(0.02)	1.41	(2.14)	8.22
BAK	3.21	0.06	(0.03)	6.08	(6.02)	24.13
DOW	2.21	(0.24)	(0.21)	3.13	(6.21)	24.30
ASIX	2.12	(0.28)	(0.27)	2.49	(4.64)	17.59
MEOH	2.39	(0.65)	(0.41)	3.08	(7.59)	30.32
SIRE	0.00	0.00	0.00	0.00	0.00	0.00
GPRE	3.97	(1.16)	(0.70)	6.31	(8.23)	25.85

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