AdvanSix Correlations

ASIX Stock

USD 17.25 0.83 5.05%

The current 90-days correlation between AdvanSix and Rayonier Advanced Materials is 0.12 (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

Very weak diversification

The correlation between AdvanSix and DJI is 0.51 (i.e., Very weak 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 against AdvanSix Stock

0.31

ERHE

ERHC Energy

Pair Corr

Related Correlations Analysis

	RYAM	KRO	LXU	TROX	VHI	KOP	ADUR	GEVO	WLKP	DC
RYAM		0.9	0.6	0.82	0.81	0.51	0.69	-0.17	0.84	0.57	RYAM
KRO	0.9		0.68	0.86	0.76	0.7	0.69	-0.08	0.89	0.62	KRO
LXU	0.6	0.68		0.53	0.56	0.64	0.32	-0.19	0.59	0.32	LXU
TROX	0.82	0.86	0.53		0.55	0.41	0.47	-0.21	0.97	0.88	TROX
VHI	0.81	0.76	0.56	0.55		0.52	0.72	0.03	0.61	0.22	VHI
KOP	0.51	0.7	0.64	0.41	0.52		0.53	0.07	0.51	0.14	KOP
ADUR	0.69	0.69	0.32	0.47	0.72	0.53		0.44	0.52	0.3	ADUR
GEVO	-0.17	-0.08	-0.19	-0.21	0.03	0.07	0.44		-0.2	-0.09	GEVO
WLKP	0.84	0.89	0.59	0.97	0.61	0.51	0.52	-0.2		0.82	WLKP
DC	0.57	0.62	0.32	0.88	0.22	0.14	0.3	-0.09	0.82		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	+ 0.97	TROX
KRO	+ 0.9	RYAM
WLKP	+ 0.89	KRO
DC	+ 0.88	TROX
TROX	+ 0.86	KRO
WLKP	+ 0.84	RYAM

High negative correlations

GEVO	- 0.21	TROX
WLKP	- 0.2	GEVO
GEVO	- 0.19	LXU
GEVO	- 0.17	RYAM
DC	- 0.09	GEVO
GEVO	- 0.08	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	2.50	0.12	0.06	0.10	2.91	(2.98)	6.38	(5.15)	28.05
KRO	2.63	0.05	0.04	0.06	2.70	(3.28)	5.58	(4.70)	12.10
LXU	2.11	(0.06)	(0.01)	0.01	2.82	(2.28)	4.74	(4.33)	13.39
TROX	3.95	0.80	0.26	0.26	2.98	(5.09)	9.38	(5.51)	34.47
VHI	2.95	(0.09)	(0.01)	0.00	3.18	(3.37)	7.75	(4.64)	16.93
KOP	1.52	(0.03)	(0.01)	0.02	1.86	(1.77)	3.56	(3.71)	8.65
ADUR	4.23	(0.18)	0.00	(0.04)	0.00	0.00	12.11	(7.07)	26.37
GEVO	2.72	(0.33)	0.00	(0.15)	0.00	0.00	6.22	(5.66)	16.09
WLKP	1.04	0.19	0.15	0.24	0.90	(1.23)	2.19	(1.50)	8.30
DC	2.90	0.55	0.17	0.35	2.92	(3.33)	5.90	(5.30)	29.80

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