Air Products Correlations
| APD Stock | USD 328.85 1.00 0.31% |
The current 90-days correlation between Air Products and PPG Industries is 0.33 (i.e., Weak diversification). The correlation of Air Products 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.
Air Products Correlation With Market
Average diversification
The correlation between Air Products and and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Air Products and and DJI in the same portfolio, assuming nothing else is changed.
Air |
Moving together with Air Stock
| 0.77 | ALB-PA | Albemarle | PairCorr |
| 0.77 | ALB | Albemarle Corp | PairCorr |
| 0.77 | CBT | Cabot | PairCorr |
| 0.71 | FSI | Flexible Solutions | PairCorr |
| 0.68 | MTX | Minerals Technologies | PairCorr |
| 0.75 | PRM | Perimeter Solutions | PairCorr |
| 0.91 | RPM | RPM International | PairCorr |
Moving against Air Stock
| 0.61 | CMT | Core Molding Technologies | PairCorr |
| 0.44 | ASH | Ashland Global Holdings | PairCorr |
| 0.42 | FEAM | 5E Advanced Materials | PairCorr |
| 0.68 | LYB | LyondellBasell Industries | PairCorr |
| 0.67 | FUL | H B Fuller Fiscal Year End 15th of January 2025 | PairCorr |
| 0.62 | NEU | NewMarket | PairCorr |
| 0.32 | KOP | Koppers Holdings | PairCorr |
| 0.84 | MACE | Mace Security Intl | PairCorr |
| 0.74 | SSL | Sasol | PairCorr |
| 0.69 | MATV | Mativ Holdings | PairCorr |
| 0.6 | HGAS | Global Gas Symbol Change | PairCorr |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Air Stock performing well and Air Products 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 Air Products' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PPG | 0.79 | (0.07) | 0.00 | (0.02) | 0.00 | 1.37 | 8.06 | |||
| SHW | 0.84 | 0.03 | (0.01) | 0.14 | 1.15 | 1.53 | 7.77 | |||
| ECL | 0.73 | (0.05) | (0.10) | (0.02) | 0.93 | 1.52 | 4.42 | |||
| ALB | 2.85 | 0.32 | 0.12 | 0.27 | 3.02 | 8.25 | 20.54 | |||
| LIN | 0.68 | (0.09) | 0.00 | (0.04) | 0.00 | 1.34 | 5.01 | |||
| RPM | 1.04 | 0.15 | 0.16 | 0.24 | 0.79 | 1.90 | 7.62 | |||
| EMN | 1.08 | 0.00 | (0.01) | 0.08 | 1.28 | 2.78 | 7.31 | |||
| LYB | 0.85 | (0.29) | 0.00 | (0.26) | 0.00 | 1.98 | 5.41 | |||
| IFF | 0.98 | (0.06) | 0.00 | 0.17 | 0.00 | 2.41 | 14.05 |