AdvanSix Correlations

ASIX Stock

USD 17.68 0.50 2.91%

The current 90-days correlation between AdvanSix and Rayonier Advanced Materials is 0.19 (i.e., Average diversification). The correlation of AdvanSix 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.

AdvanSix Correlation With Market

Modest diversification

The correlation between AdvanSix and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvanSix and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AdvanSix Stock

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

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

Moving together with AdvanSix Stock

0.67	600889	Nanjing Chemical Fibre	Pair Corr
0.63	601216	Inner Mongolia Junzheng	Pair Corr
0.68	600810	Shen Ma Industry	Pair Corr
0.65	WLKP	Westlake Chemical	Pair Corr
0.61	000818	Hangjin Technology	Pair Corr
0.77	605020	Zhejiang Yonghe Refr	Pair Corr
0.78	FMST	Foremost Lithium Resource	Pair Corr
0.75	CBT	Cabot	Pair Corr
0.63	KRO	Kronos Worldwide	Pair Corr

Moving against AdvanSix Stock

0.64	CXL	CALIX	Pair Corr
0.52	603217	Yuanli Chemical Group	Pair Corr
0.47	002064	Zhejiang Huafon Spandex	Pair Corr
0.4	002522	Zhejiang Zhongcheng	Pair Corr
0.37	600228	Fanli Digital Technology	Pair Corr
0.88	SDV	Scidev	Pair Corr
0.85	301300	Fujian Yuanxiang New	Pair Corr
0.72	300478	Hangzhou Gaoxin Rubber	Pair Corr
0.69	BAK	Braskem SA Class	Pair Corr
0.54	600955	Lihuayi Weiyuan Chemical	Pair Corr
0.81	603155	Xinyaqiang Silicon	Pair Corr
0.73	600141	Hubei Xingfa Chemicals	Pair Corr
0.46	603077	Sichuan Hebang Biote	Pair Corr
0.41	KOP	Koppers Holdings	Pair Corr

Related Correlations Analysis

	RYAM	KRO	LXU	TROX	VHI	KOP	ADUR	GEVO	WLKP	DC
RYAM		0.68	-0.2	-0.06	0.85	-0.28	0.84	0.51	0.67	-0.22	RYAM
KRO	0.68		-0.29	0.31	0.78	-0.12	0.53	0.04	0.87	0.03	KRO
LXU	-0.2	-0.29		-0.07	-0.31	0.4	-0.13	0.08	-0.29	-0.12	LXU
TROX	-0.06	0.31	-0.07		-0.05	0.18	0.03	0.17	0.45	0.79	TROX
VHI	0.85	0.78	-0.31	-0.05		-0.26	0.62	0.26	0.69	-0.31	VHI
KOP	-0.28	-0.12	0.4	0.18	-0.26		-0.37	-0.16	-0.34	-0.18	KOP
ADUR	0.84	0.53	-0.13	0.03	0.62	-0.37		0.7	0.61	0.03	ADUR
GEVO	0.51	0.04	0.08	0.17	0.26	-0.16	0.7		0.25	0.23	GEVO
WLKP	0.67	0.87	-0.29	0.45	0.69	-0.34	0.61	0.25		0.32	WLKP
DC	-0.22	0.03	-0.12	0.79	-0.31	-0.18	0.03	0.23	0.32		DC
	RYAM	KRO	LXU	TROX	VHI	KOP	ADUR	GEVO	WLKP	DC

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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

WLKP	+ 0.87	KRO
VHI	+ 0.85	RYAM
ADUR	+ 0.84	RYAM
DC	+ 0.79	TROX
VHI	+ 0.78	KRO
GEVO	+ 0.7	ADUR

High negative correlations

ADUR	- 0.37	KOP
WLKP	- 0.34	KOP
DC	- 0.31	VHI
VHI	- 0.31	LXU
WLKP	- 0.29	LXU
LXU	- 0.29	KRO

Risk-Adjusted Indicators

There is a big difference between AdvanSix Stock performing well and AdvanSix 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 AdvanSix'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
RYAM	1.80	(0.32)	0.00	(0.17)	0.00	0.00	3.48	(3.60)	12.76
KRO	2.46	(0.51)	0.00	(0.14)	0.00	0.00	4.95	(5.07)	11.15
LXU	2.36	(0.06)	0.01	0.05	2.88	(2.71)	6.16	(4.82)	22.28
TROX	4.10	(0.17)	0.01	0.03	3.98	(5.34)	9.82	(5.71)	30.74
VHI	2.41	(0.50)	0.00	(0.23)	0.00	0.00	6.10	(5.57)	16.93
KOP	1.40	(0.17)	0.00	(0.08)	0.00	0.00	3.56	(3.71)	9.19
ADUR	4.19	(0.29)	0.00	(0.04)	0.00	0.00	10.15	(6.76)	24.03
GEVO	3.00	(0.15)	(0.01)	0.02	3.37	(3.35)	6.83	(5.66)	15.27
WLKP	1.03	(0.19)	0.00	(0.13)	0.00	0.00	1.85	(2.29)	8.30
DC	2.77	0.42	0.10	0.35	3.66	(2.87)	4.73	(4.76)	22.73

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