Westlake Chemical Correlations

WLK Stock

USD 92.29 1.97 2.18%

The current 90-days correlation between Westlake Chemical and Axalta Coating Systems is 0.8 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Westlake Chemical moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Westlake Chemical moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Westlake Chemical Correlation With Market

Very poor diversification

The correlation between Westlake Chemical and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westlake Chemical and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Westlake Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Westlake Chemical. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Westlake Stock

0.88	CC	Chemours	Pair Corr
0.84	DD	Dupont De Nemours	Pair Corr
0.83	FF	FutureFuel Corp	Pair Corr
0.87	ECVT	Ecovyst	Pair Corr
0.87	WTTR	Select Energy Services	Pair Corr
0.63	FEAM	5E Advanced Materials	Pair Corr
0.91	ALB-PA	Albemarle	Pair Corr
0.9	ALB	Albemarle Corp	Pair Corr
0.91	APD	Air Products	Pair Corr
0.89	ASH	Ashland Global Holdings	Pair Corr
0.86	CBT	Cabot	Pair Corr
0.77	EMN	Eastman Chemical Earnings Call This Week	Pair Corr
0.84	ESI	Element Solutions	Pair Corr
0.75	FSI	Flexible Solutions Earnings Call This Week	Pair Corr
0.84	FUL	H B Fuller	Pair Corr
0.94	IFF	International Flavors	Pair Corr
0.93	KOP	Koppers Holdings	Pair Corr
0.89	KRO	Kronos Worldwide	Pair Corr
0.92	KWR	Quaker Chemical	Pair Corr
0.87	LYB	LyondellBasell Industries Earnings Call This Week	Pair Corr
0.95	MTX	Minerals Technologies Earnings Call This Week	Pair Corr
0.88	OEC	Orion Engineered Carbons	Pair Corr
0.89	PPG	PPG Industries	Pair Corr
0.67	PRM	Perimeter Solutions	Pair Corr
0.97	RPM	RPM International	Pair Corr
0.96	SCL	Stepan Company	Pair Corr
0.8	SHW	Sherwin Williams Earnings Call This Week	Pair Corr
0.91	SSL	Sasol	Pair Corr
0.72	TSE	Trinseo SA	Pair Corr
0.79	GEVO	Gevo Inc	Pair Corr

Moving against Westlake Stock

0.53	NEU	NewMarket Earnings Call This Week	Pair Corr
0.75	X	United States Steel	Pair Corr

Related Correlations Analysis

	SXT	IOSP	MTX	ODC	FUL	KWR	CBT	SCL	AXTA	AVNT
SXT		0.22	0.15	0.0	0.23	-0.04	0.11	-0.01	0.13	-0.04	SXT
IOSP	0.22		0.98	-0.4	0.92	0.82	0.86	0.92	0.9	0.85	IOSP
MTX	0.15	0.98		-0.3	0.89	0.87	0.87	0.96	0.92	0.9	MTX
ODC	0.0	-0.4	-0.3		-0.54	-0.06	-0.28	-0.18	-0.22	-0.05	ODC
FUL	0.23	0.92	0.89	-0.54		0.69	0.81	0.81	0.78	0.71	FUL
KWR	-0.04	0.82	0.87	-0.06	0.69		0.76	0.95	0.93	0.99	KWR
CBT	0.11	0.86	0.87	-0.28	0.81	0.76		0.86	0.77	0.77	CBT
SCL	-0.01	0.92	0.96	-0.18	0.81	0.95	0.86		0.93	0.97	SCL
AXTA	0.13	0.9	0.92	-0.22	0.78	0.93	0.77	0.93		0.94	AXTA
AVNT	-0.04	0.85	0.9	-0.05	0.71	0.99	0.77	0.97	0.94		AVNT
	SXT	IOSP	MTX	ODC	FUL	KWR	CBT	SCL	AXTA	AVNT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

AVNT	+ 0.99	KWR
MTX	+ 0.98	IOSP
AVNT	+ 0.97	SCL
SCL	+ 0.96	MTX
SCL	+ 0.95	KWR
AVNT	+ 0.94	AXTA

High negative correlations

FUL	- 0.54	ODC
ODC	- 0.4	IOSP
ODC	- 0.3	MTX
CBT	- 0.28	ODC
AXTA	- 0.22	ODC
SCL	- 0.18	ODC

Risk-Adjusted Indicators

There is a big difference between Westlake Stock performing well and Westlake Chemical 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 Westlake Chemical'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
SXT	1.24	0.20	0.12	0.22	1.90	(1.32)	2.41	(2.24)	11.22
IOSP	1.55	(0.25)	0.00	(0.35)	0.00	0.00	2.36	(3.74)	11.52
MTX	1.43	(0.29)	0.00	(0.36)	0.00	0.00	1.80	(3.06)	13.50
ODC	1.48	0.14	0.09	0.13	1.87	(1.57)	2.89	(3.09)	13.82
FUL	1.77	(0.15)	0.00	(0.22)	0.00	0.00	2.46	(3.55)	14.60
KWR	2.04	(0.18)	0.00	(0.21)	0.00	0.00	3.00	(4.60)	20.89
CBT	1.51	(0.13)	0.00	(18.43)	0.00	0.00	2.74	(4.10)	12.52
SCL	1.77	(0.29)	0.00	(0.34)	0.00	0.00	2.69	(4.25)	14.03
AXTA	1.78	0.01	0.00	(0.09)	0.00	0.00	2.93	(3.78)	16.33
AVNT	2.02	(0.17)	0.00	(0.19)	0.00	0.00	3.44	(3.70)	20.86

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC