Sensient Technologies Correlations

Stocks . USA . 
Stock . Sensient Technologies
SXT Stock  USD 78.67  1.48  1.92%   
The current 90-days correlation between Sensient Technologies and Minerals Technologies is 0.79 (i.e., Poor diversification). The correlation of Sensient Technologies 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.

Sensient Technologies Correlation With Market

Poor diversification

The correlation between Sensient Technologies and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sensient Technologies and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sensient Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.
For more information on how to buy Sensient Stock please use our How to Invest in Sensient Technologies guide.

Moving together with Sensient Stock

  0.67CC ChemoursPairCorr
  0.66DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.84CBT CabotPairCorr
  0.62FSI Flexible SolutionsPairCorr
  0.73KRO Kronos WorldwidePairCorr
  0.69MTX Minerals TechnologiesPairCorr
  0.71PRM Perimeter SolutionsPairCorr
  0.68SCL Stepan CompanyPairCorr
  0.64SHW Sherwin Williams Fiscal Year End 23rd of January 2025 PairCorr

Moving against Sensient Stock

  0.35FEAM 5E Advanced MaterialsPairCorr
  0.65MACE Mace Security IntlPairCorr
  0.49HGAS Global Gas Symbol ChangePairCorr
  0.4SSL SasolPairCorr
  0.39MATV Mativ HoldingsPairCorr
  0.34HDSN Hudson TechnologiesPairCorr

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   
ODC
+ 0.7
MTX
CBT
+ 0.67
ODC
NTIC
+ 0.65
MTX
CBT
+ 0.64
MTX
NTIC
+ 0.43
ODC
CBT
+ 0.03
NTIC
  
High negative correlations   
FUL
- 0.39
MTX
CBT
- 0.31
FUL
FUL
- 0.17
ODC
NTIC
- 0.08
FUL

Risk-Adjusted Indicators

There is a big difference between Sensient Stock performing well and Sensient Technologies 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 Sensient Technologies' 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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