Ashland Global Correlations

ASH Stock

USD 77.68 1.47 1.93%

The current 90-days correlation between Ashland Global Holdings and H B Fuller is 0.53 (i.e., Very weak diversification). The correlation of Ashland Global 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.

Ashland Global Correlation With Market

Very weak diversification

The correlation between Ashland Global Holdings and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ashland Global Holdings and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ashland Global Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Ashland Stock

0.66	FF	FutureFuel Corp	Pair Corr
0.7	DNMR	Danimer Scientific	Pair Corr
0.62	FUL	H B Fuller Fiscal Year End 15th of January 2025	Pair Corr
0.83	IFF	International Flavors	Pair Corr
0.71	LIN	Linde plc Ordinary	Pair Corr
0.77	LYB	LyondellBasell Industries	Pair Corr
0.61	PPG	PPG Industries Fiscal Year End 16th of January 2025	Pair Corr
0.72	SSL	Sasol	Pair Corr

Moving against Ashland Stock

0.75	WTTR	Select Energy Services	Pair Corr
0.74	WDFC	WD 40 Company	Pair Corr
0.68	ECVT	Ecovyst	Pair Corr
0.68	ESI	Element Solutions	Pair Corr
0.63	ALB-PA	Albemarle	Pair Corr
0.62	ALB	Albemarle Corp	Pair Corr
0.44	APD	Air Products	Pair Corr
0.62	RPM	RPM International	Pair Corr
0.57	FSI	Flexible Solutions	Pair Corr
0.54	MTX	Minerals Technologies	Pair Corr
0.67	MEIL	Methes Energies Inte	Pair Corr
0.56	NGVT	Ingevity Corp	Pair Corr

Related Correlations Analysis

	FUL	ESI	BCPC	AVTR	MTX	AXTA	IOSP	ODC	KWR	SXT
FUL		-0.47	0.11	0.77	-0.37	-0.4	0.01	-0.17	0.48	-0.11	FUL
ESI	-0.47		0.62	-0.76	0.71	0.84	0.67	0.55	0.31	0.53	ESI
BCPC	0.11	0.62		-0.29	0.59	0.73	0.84	0.61	0.81	0.68	BCPC
AVTR	0.77	-0.76	-0.29		-0.73	-0.72	-0.48	-0.38	0.08	-0.29	AVTR
MTX	-0.37	0.71	0.59	-0.73		0.79	0.84	0.7	0.36	0.69	MTX
AXTA	-0.4	0.84	0.73	-0.72	0.79		0.81	0.61	0.46	0.61	AXTA
IOSP	0.01	0.67	0.84	-0.48	0.84	0.81		0.64	0.74	0.69	IOSP
ODC	-0.17	0.55	0.61	-0.38	0.7	0.61	0.64		0.38	0.74	ODC
KWR	0.48	0.31	0.81	0.08	0.36	0.46	0.74	0.38		0.43	KWR
SXT	-0.11	0.53	0.68	-0.29	0.69	0.61	0.69	0.74	0.43		SXT
	FUL	ESI	BCPC	AVTR	MTX	AXTA	IOSP	ODC	KWR	SXT

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

AXTA	+ 0.84	ESI
IOSP	+ 0.84	BCPC
IOSP	+ 0.84	MTX
KWR	+ 0.81	BCPC
IOSP	+ 0.81	AXTA
AXTA	+ 0.79	MTX

High negative correlations

AVTR	- 0.76	ESI
MTX	- 0.73	AVTR
AXTA	- 0.72	AVTR
IOSP	- 0.48	AVTR
ESI	- 0.47	FUL
AXTA	- 0.4	FUL

Risk-Adjusted Indicators

There is a big difference between Ashland Stock performing well and Ashland Global 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 Ashland Global'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
FUL	1.04	(0.23)	0.00	(0.07)	0.00	0.00	1.79	(2.51)	8.58
ESI	1.29	0.16	0.03	(0.35)	1.35	(1.51)	3.77	(1.95)	11.06
BCPC	1.11	(0.01)	0.01	0.08	1.26	(1.25)	2.64	(1.99)	8.32
AVTR	1.19	(0.44)	0.00	(0.38)	0.00	0.00	2.31	(2.70)	6.21
MTX	1.28	(0.04)	0.03	0.07	1.32	(1.45)	2.46	(2.51)	11.90
AXTA	1.18	0.11	0.07	0.20	1.20	(1.22)	2.81	(2.08)	10.92
IOSP	1.27	(0.05)	0.04	0.06	1.30	(1.41)	2.24	(2.10)	16.32
ODC	1.32	(0.01)	0.00	0.08	1.62	(1.34)	3.14	(2.09)	12.06
KWR	1.50	(0.15)	(0.02)	0.02	1.84	(1.55)	2.37	(2.62)	18.04
SXT	1.06	(0.05)	0.00	0.06	1.24	(1.09)	2.28	(2.19)	8.84

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