NewMarket Correlations

NEU Stock

USD 625.99 2.00 0.32%

The current 90-days correlation between NewMarket and H B Fuller is 0.6 (i.e., Poor diversification). The correlation of NewMarket 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.

NewMarket Correlation With Market

Very weak diversification

The correlation between NewMarket and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NewMarket and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with NewMarket Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NewMarket. 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.

For more information on how to buy NewMarket Stock please use our How to Invest in NewMarket guide.

Moving against NewMarket Stock

0.73	MTX	Minerals Technologies	Pair Corr
0.61	FF	FutureFuel Corp Earnings Call This Week	Pair Corr
0.61	FSI	Flexible Solutions	Pair Corr
0.59	CC	Chemours	Pair Corr
0.57	ALB	Albemarle Corp	Pair Corr
0.57	APD	Air Products	Pair Corr
0.55	ALB-PA	Albemarle	Pair Corr
0.55	EMN	Eastman Chemical	Pair Corr
0.55	LYB	LyondellBasell Industries	Pair Corr
0.54	KWR	Quaker Chemical Earnings Call This Week	Pair Corr
0.52	WTTR	Select Energy Services	Pair Corr
0.52	CBT	Cabot	Pair Corr
0.51	SCL	Stepan Company	Pair Corr
0.5	KOP	Koppers Holdings	Pair Corr
0.5	RPM	RPM International	Pair Corr
0.48	ECVT	Ecovyst	Pair Corr
0.47	FEAM	5E Advanced Materials	Pair Corr
0.47	ESI	Element Solutions	Pair Corr
0.47	KRO	Kronos Worldwide Earnings Call Tomorrow	Pair Corr
0.46	ASH	Ashland Global Holdings	Pair Corr
0.44	FUL	H B Fuller	Pair Corr
0.44	IFF	International Flavors	Pair Corr
0.43	OEC	Orion Engineered Carbons	Pair Corr
0.37	PPG	PPG Industries	Pair Corr
0.34	DD	Dupont De Nemours	Pair Corr
0.34	PRM	Perimeter Solutions Earnings Call This Week	Pair Corr
0.81	AVTR	Avantor	Pair Corr
0.78	AMTX	Aemetis Earnings Call This Week	Pair Corr
0.72	CRKN	Crown Electrokinetics Earnings Call Next Week	Pair Corr
0.7	LWLG	Lightwave Logic Earnings Call This Week	Pair Corr
0.7	NTIC	Northern Technologies	Pair Corr
0.69	SDST	Stardust Power Symbol Change	Pair Corr
0.63	CE	Celanese Earnings Call Tomorrow	Pair Corr
0.61	IOSP	Innospec Earnings Call This Week	Pair Corr
0.61	MATV	Mativ Holdings	Pair Corr

Related Correlations Analysis

	FUL	MTX	KWR	ODC	SXT	IOSP	CBT
FUL		0.8	0.72	-0.26	-0.09	0.9	0.81	FUL
MTX	0.8		0.93	0.16	-0.52	0.94	0.92	MTX
KWR	0.72	0.93		0.26	-0.49	0.88	0.93	KWR
ODC	-0.26	0.16	0.26		-0.32	-0.03	0.19	ODC
SXT	-0.09	-0.52	-0.49	-0.32		-0.25	-0.4	SXT
IOSP	0.9	0.94	0.88	-0.03	-0.25		0.9	IOSP
CBT	0.81	0.92	0.93	0.19	-0.4	0.9		CBT
	FUL	MTX	KWR	ODC	SXT	IOSP	CBT

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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

IOSP	+ 0.94	MTX
KWR	+ 0.93	MTX
CBT	+ 0.93	KWR
CBT	+ 0.92	MTX
IOSP	+ 0.9	FUL
CBT	+ 0.9	IOSP

High negative correlations

SXT	- 0.52	MTX
SXT	- 0.49	KWR
CBT	- 0.4	SXT
SXT	- 0.32	ODC
ODC	- 0.26	FUL
IOSP	- 0.25	SXT

Risk-Adjusted Indicators

There is a big difference between NewMarket Stock performing well and NewMarket 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 NewMarket'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
FUL	1.73	(0.06)	0.00	(0.17)	0.00	0.00	2.61	(3.55)	14.60
MTX	1.66	(0.41)	0.00	(0.52)	0.00	0.00	2.13	(4.45)	18.95
KWR	1.93	(0.26)	0.00	(0.30)	0.00	0.00	2.61	(4.60)	20.89
ODC	1.48	0.12	0.08	0.07	2.04	(1.49)	2.89	(4.31)	13.82
SXT	1.50	0.44	0.24	0.57	1.73	(1.77)	4.74	(2.24)	14.91
IOSP	1.53	(0.21)	0.00	(0.36)	0.00	0.00	2.36	(3.74)	11.52
CBT	1.46	(0.05)	0.00	(0.17)	0.00	0.00	2.73	(4.10)	12.52

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