Stepan Correlations

Stocks . USA . 
Stock . Stepan Company
SCL Stock  USD 56.81  0.24  0.42%   
The current 90-days correlation between Stepan Company and Innospec is 0.74 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stepan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stepan Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stepan Correlation With Market

Very weak diversification

The correlation between Stepan Company and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stepan Company and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stepan Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Stepan Stock

  0.88DD Dupont De Nemours Sell-off TrendPairCorr
  0.88ECVT EcovystPairCorr
  0.8ALB-PA AlbemarlePairCorr
  0.73ALB Albemarle CorpPairCorr
  0.8APD Air ProductsPairCorr
  0.83CMT Core Molding TechnologiesPairCorr
  0.89ECL Ecolab IncPairCorr
  0.94ESI Element SolutionsPairCorr
  0.79FSI Flexible SolutionsPairCorr
  0.77FUL H B FullerPairCorr
  0.85KOP Koppers HoldingsPairCorr
  0.71KWR Quaker ChemicalPairCorr
  0.79LIN Linde plc Ordinary Sell-off TrendPairCorr
  0.68LYB LyondellBasell Industries Sell-off TrendPairCorr
  0.92NEU NewMarketPairCorr
  0.91PPG PPG IndustriesPairCorr
  0.86PRM Perimeter SolutionsPairCorr
  0.82RPM RPM International Earnings Call Next WeekPairCorr
  0.75SSL SasolPairCorr
  0.92SXT Sensient Technologies Earnings Call Next WeekPairCorr
  0.74HWKN HawkinsPairCorr

Moving against Stepan Stock

  0.47FEAM 5E Advanced MaterialsPairCorr
  0.41KRO Kronos WorldwidePairCorr
  0.53WLK Westlake ChemicalPairCorr
  0.47OEC Orion Engineered CarbonsPairCorr
  0.37TSE Trinseo SAPairCorr
  0.36SDSTW Stardust PowerPairCorr

Related Correlations Analysis

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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   
KWR
+ 0.84
ODC
FUL
+ 0.78
KWR
FUL
+ 0.76
SXT
SXT
+ 0.75
ODC
FUL
+ 0.74
ODC
SXT
+ 0.73
KWR
  
High negative correlations   
ODC
- 0.4
IOSP
KWR
- 0.23
IOSP
MTX
- 0.12
IOSP

Risk-Adjusted Indicators

There is a big difference between Stepan Stock performing well and Stepan 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 Stepan'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.

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