Icahn Enterprises Correlations

IEP Stock

USD 8.55 0.01 0.12%

The current 90-days correlation between Icahn Enterprises and Delek Energy is -0.22 (i.e., Very good diversification). The correlation of Icahn Enterprises 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.

Icahn Enterprises Correlation With Market

Good diversification

The correlation between Icahn Enterprises LP and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icahn Enterprises LP and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Icahn Stock

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

Moving together with Icahn Stock

0.67	DINO	HF Sinclair Corp	Pair Corr
0.63	DKL	Delek Logistics Partners	Pair Corr
0.81	MPC	Marathon Petroleum Corp Earnings Call This Week	Pair Corr
0.9	PSX	Phillips 66 Earnings Call This Week	Pair Corr
0.71	SUN	Sunoco LP	Pair Corr
0.77	VLO	Valero Energy Earnings Call Tomorrow	Pair Corr
0.84	WKC	World Kinect Earnings Call Tomorrow	Pair Corr
0.69	AL	Air Lease	Pair Corr
0.73	BE	Bloom Energy Corp	Pair Corr
0.65	CR	Crane Company	Pair Corr
0.8	DE	Deere Company	Pair Corr
0.7	EH	Ehang Holdings	Pair Corr
0.75	GE	GE Aerospace	Pair Corr

Moving against Icahn Stock

0.49	GD	General Dynamics Earnings Call Today	Pair Corr
0.31	NL	NL Industries	Pair Corr

Related Correlations Analysis

	DK	PBF	DINO	DKL	VLO	MPC	PSX	SUN	CVI	CAPL
DK		0.93	0.93	0.74	0.85	0.83	0.57	0.06	0.68	-0.18	DK
PBF	0.93		0.85	0.62	0.79	0.71	0.44	-0.09	0.57	-0.38	PBF
DINO	0.93	0.85		0.69	0.89	0.89	0.69	0.24	0.65	-0.08	DINO
DKL	0.74	0.62	0.69		0.83	0.77	0.76	0.35	0.65	0.34	DKL
VLO	0.85	0.79	0.89	0.83		0.97	0.83	0.38	0.67	0.12	VLO
MPC	0.83	0.71	0.89	0.77	0.97		0.84	0.42	0.64	0.13	MPC
PSX	0.57	0.44	0.69	0.76	0.83	0.84		0.67	0.54	0.45	PSX
SUN	0.06	-0.09	0.24	0.35	0.38	0.42	0.67		0.12	0.72	SUN
CVI	0.68	0.57	0.65	0.65	0.67	0.64	0.54	0.12		0.1	CVI
CAPL	-0.18	-0.38	-0.08	0.34	0.12	0.13	0.45	0.72	0.1		CAPL
	DK	PBF	DINO	DKL	VLO	MPC	PSX	SUN	CVI	CAPL

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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

MPC	+ 0.97	VLO
PBF	+ 0.93	DK
DINO	+ 0.93	DK
VLO	+ 0.89	DINO
MPC	+ 0.89	DINO
VLO	+ 0.85	DK

High negative correlations

CAPL	- 0.38	PBF
CAPL	- 0.18	DK
SUN	- 0.09	PBF
CAPL	- 0.08	DINO

Risk-Adjusted Indicators

There is a big difference between Icahn Stock performing well and Icahn Enterprises 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 Icahn Enterprises' 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
DK	3.16	(0.32)	0.00	(0.39)	0.00	0.00	5.92	(7.81)	24.53
PBF	3.19	(0.65)	0.00	(0.59)	0.00	0.00	5.44	(9.01)	24.08
DINO	2.33	(0.04)	0.00	(0.22)	0.00	0.00	4.25	(5.95)	19.66
DKL	1.37	(0.12)	0.00	(0.37)	0.00	0.00	2.33	(2.57)	10.61
VLO	2.20	(0.19)	0.00	(0.91)	0.00	0.00	3.48	(4.58)	19.47
MPC	2.18	(0.17)	0.00	(2.04)	0.00	0.00	3.55	(5.26)	19.80
PSX	2.00	(0.19)	0.00	(4.27)	0.00	0.00	3.45	(3.85)	18.49
SUN	1.26	0.12	0.15	(1.07)	1.90	(1.19)	2.52	(2.87)	9.82
CVI	2.65	0.02	0.00	(0.17)	0.00	0.00	5.18	(4.49)	17.67
CAPL	1.07	0.13	0.09	0.04	2.28	(0.94)	2.20	(2.64)	12.30

Icahn Enterprises Corporate Management

Hunter Gary	Managing Director	Profile
Ted Papapostolou	Director CFO	Profile
Angel Montalvo	Investor Contact	Profile
Robert Flint	Chief Officer	Profile
Andrew Langham	G Counsel	Profile
Andrew Teno	Chief Officer	Profile

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