Sensient Technologies Correlations

Stocks . USA . 
Stock . Sensient Technologies
SXT Stock  USD 108.75  0.12  0.11%   
The current 90-days correlation between Sensient Technologies and Innospec is 0.43 (i.e., Very weak 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

Very weak diversification

The correlation between Sensient Technologies and DJI is 0.4 (i.e., Very weak 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.
  
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For more information on how to buy Sensient Stock please use our How to Invest in Sensient Technologies guide.

Moving together with Sensient Stock

  0.94DD Dupont De NemoursPairCorr
  0.86ECVT EcovystPairCorr
  0.78ALB-PA AlbemarlePairCorr
  0.76ALB Albemarle CorpPairCorr
  0.85APD Air ProductsPairCorr
  0.83CMT Core Molding TechnologiesPairCorr
  0.9ECL Ecolab IncPairCorr
  0.94ESI Element SolutionsPairCorr
  0.78FSI Flexible SolutionsPairCorr
  0.78FUL H B FullerPairCorr
  0.62IFF International FlavorsPairCorr
  0.82KOP Koppers HoldingsPairCorr
  0.73KWR Quaker ChemicalPairCorr
  0.79LIN Linde plc OrdinaryPairCorr
  0.66LYB LyondellBasell IndustriesPairCorr
  0.95NEU NewMarketPairCorr
  0.92PPG PPG IndustriesPairCorr
  0.85PRM Perimeter SolutionsPairCorr
  0.74RPM RPM InternationalPairCorr
  0.93SCL Stepan CompanyPairCorr
  0.63SHW Sherwin Williams Earnings Call This WeekPairCorr
  0.73SSL SasolPairCorr
  0.64GEVO Gevo IncPairCorr
  0.81HWKN HawkinsPairCorr

Moving against Sensient Stock

  0.49WLK Westlake ChemicalPairCorr
  0.42SDSTW Stardust PowerPairCorr
  0.41OEC Orion Engineered CarbonsPairCorr

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   
ESI
+ 0.88
FUL
KWR
+ 0.86
ODC
KWR
+ 0.84
FUL
ESI
+ 0.81
KWR
ESI
+ 0.77
ODC
FUL
+ 0.73
ODC
  
High negative correlations   
ODC
- 0.32
IOSP
KWR
- 0.03
IOSP

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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