WD 40 Correlations

WDFC Stock

USD 219.48 0.96 0.44%

The current 90-days correlation between WD 40 Company and Quaker Chemical is 0.26 (i.e., Modest diversification). The correlation of WD 40 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.

WD 40 Correlation With Market

Weak diversification

The correlation between WD 40 Company and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WD 40 Company and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with WDFC Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in WD 40 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 price.

Moving against WDFC Stock

0.76	CC	Chemours	Pair Corr
0.72	ALB-PA	Albemarle	Pair Corr
0.72	ALB	Albemarle Corp	Pair Corr
0.7	CMT	Core Molding Technologies	Pair Corr
0.62	APD	Air Products	Pair Corr
0.62	ESI	Element Solutions	Pair Corr
0.59	DD	Dupont De Nemours	Pair Corr
0.58	FSI	Flexible Solutions Earnings Call This Week	Pair Corr
0.57	ECVT	Ecovyst	Pair Corr
0.36	FUL	H B Fuller	Pair Corr
0.33	ASH	Ashland Global Holdings	Pair Corr
0.81	SQM	Sociedad Quimica y Buyout Trend	Pair Corr
0.8	SXT	Sensient Technologies	Pair Corr
0.78	NEU	NewMarket	Pair Corr
0.72	PRM	Perimeter Solutions	Pair Corr
0.59	KOP	Koppers Holdings	Pair Corr
0.55	WLK	Westlake Chemical	Pair Corr
0.46	KWR	Quaker Chemical	Pair Corr
0.36	RPM	RPM International	Pair Corr
0.89	SNES	SenesTech	Pair Corr
0.87	LWLG	Lightwave Logic Earnings Call This Week	Pair Corr
0.7	HWKN	Hawkins	Pair Corr
0.6	BGLC	BioNexus Gene Lab	Pair Corr

Related Correlations Analysis

	KWR	MTX	IOSP	FUL	CBT	SXT	RPM	ASH	ODC	HWKN
KWR		0.35	-0.32	0.7	0.57	0.8	0.34	0.55	0.84	0.83	KWR
MTX	0.35		-0.1	0.34	0.42	0.37	0.65	0.22	0.16	0.34	MTX
IOSP	-0.32	-0.1		0.1	0.14	-0.54	-0.33	0.36	-0.46	-0.65	IOSP
FUL	0.7	0.34	0.1		0.57	0.54	0.1	0.62	0.64	0.52	FUL
CBT	0.57	0.42	0.14	0.57		0.35	0.16	0.51	0.42	0.37	CBT
SXT	0.8	0.37	-0.54	0.54	0.35		0.55	0.43	0.67	0.94	SXT
RPM	0.34	0.65	-0.33	0.1	0.16	0.55		0.24	0.09	0.44	RPM
ASH	0.55	0.22	0.36	0.62	0.51	0.43	0.24		0.25	0.29	ASH
ODC	0.84	0.16	-0.46	0.64	0.42	0.67	0.09	0.25		0.8	ODC
HWKN	0.83	0.34	-0.65	0.52	0.37	0.94	0.44	0.29	0.8		HWKN
	KWR	MTX	IOSP	FUL	CBT	SXT	RPM	ASH	ODC	HWKN

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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

HWKN	+ 0.94	SXT
ODC	+ 0.84	KWR
HWKN	+ 0.83	KWR
SXT	+ 0.8	KWR
HWKN	+ 0.8	ODC
FUL	+ 0.7	KWR

High negative correlations

HWKN	- 0.65	IOSP
SXT	- 0.54	IOSP
ODC	- 0.46	IOSP
RPM	- 0.33	IOSP
IOSP	- 0.32	KWR
IOSP	- 0.1	MTX

Risk-Adjusted Indicators

There is a big difference between WDFC Stock performing well and WD 40 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 WD 40'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
KWR	2.12	0.19	0.13	0.22	1.85	(2.56)	4.98	(3.55)	15.11
MTX	1.78	0.16	0.02	(6.75)	2.00	(2.00)	4.15	(3.35)	16.93
IOSP	1.23	(0.31)	0.00	(0.16)	0.00	0.00	2.04	(2.78)	6.62
FUL	1.58	(0.08)	(0.01)	0.06	1.61	(1.85)	3.43	(2.59)	13.35
CBT	1.46	0.02	(0.04)	0.46	1.88	(1.59)	2.88	(2.82)	11.49
SXT	0.86	0.27	0.27	0.70	0.31	(1.05)	2.62	(1.08)	6.91
RPM	1.10	0.02	0.03	0.13	1.27	(1.19)	2.32	(1.84)	9.83
ASH	1.76	(0.15)	(0.05)	0.00	1.98	(1.89)	2.99	(3.02)	8.26
ODC	1.57	0.32	0.20	0.41	1.36	(1.94)	3.13	(2.75)	12.22
HWKN	1.24	0.59	0.40	(3.97)	0.60	(1.56)	3.24	(1.35)	7.40

WD 40 Corporate Executives

Elected by the shareholders, the WD 40's board of directors comprises two types of representatives: WD 40 inside directors who are chosen from within the company, and outside directors, selected externally and held independent of WDFC. The board's role is to monitor WD 40's management team and ensure that shareholders' interests are well served. WD 40's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, WD 40's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jay Rembolt

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