AdvanSix Correlations

ASIX Stock

USD 31.10 1.19 3.98%

The current 90-days correlation between AdvanSix and Lsb Industries is 0.6 (i.e., Poor 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

Poor diversification

The correlation between AdvanSix and DJI is 0.66 (i.e., Poor 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.

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

0.64	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.75	MT	ArcelorMittal SA ADR	Pair Corr
0.76	TX	Ternium SA ADR	Pair Corr
0.71	FCX	Freeport McMoran Copper Aggressive Push	Pair Corr
0.7	HBM	Hudbay Minerals	Pair Corr

Moving against AdvanSix Stock

0.39	NG	NovaGold Resources	Pair Corr
0.32	AU	AngloGold Ashanti plc	Pair Corr
0.51	HLP	Hongli Group Ordinary	Pair Corr

Related Correlations Analysis

	MEOH	LXU	SIRE	UNVR	GPRE	TROX	VHI	WLKP	HUN
MEOH		0.09	0.07	-0.21	0.35	0.38	-0.23	0.56	-0.12	MEOH
LXU	0.09		0.57	0.68	-0.49	0.23	0.64	0.31	0.18	LXU
SIRE	0.07	0.57		0.78	-0.77	-0.5	0.14	0.62	-0.51	SIRE
UNVR	-0.21	0.68	0.78		-0.76	-0.3	0.53	0.2	-0.08	UNVR
GPRE	0.35	-0.49	-0.77	-0.76		0.54	-0.2	-0.34	0.37	GPRE
TROX	0.38	0.23	-0.5	-0.3	0.54		0.34	-0.23	0.78	TROX
VHI	-0.23	0.64	0.14	0.53	-0.2	0.34		-0.27	0.5	VHI
WLKP	0.56	0.31	0.62	0.2	-0.34	-0.23	-0.27		-0.6	WLKP
HUN	-0.12	0.18	-0.51	-0.08	0.37	0.78	0.5	-0.6		HUN
	MEOH	LXU	SIRE	UNVR	GPRE	TROX	VHI	WLKP	HUN

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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

UNVR	+ 0.78	SIRE
HUN	+ 0.78	TROX
UNVR	+ 0.68	LXU
VHI	+ 0.64	LXU
WLKP	+ 0.62	SIRE
SIRE	+ 0.57	LXU

High negative correlations

GPRE	- 0.77	SIRE
GPRE	- 0.76	UNVR
HUN	- 0.6	WLKP
HUN	- 0.51	SIRE
TROX	- 0.5	SIRE
GPRE	- 0.49	LXU

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
MEOH	1.60	(0.01)	(0.02)	0.06	2.61	(1.54)	3.29	(4.72)	11.13
LXU	2.02	0.00	0.04	0.09	2.21	(2.27)	4.59	(4.10)	18.88
SIRE	0.11	0.03	(0.38)	(2.74)	0.00	(0.16)	0.24	(0.20)	1.16
UNVR	0.12	0.01	(0.50)	0.60	0.00	(0.15)	0.31	(0.22)	0.79
GPRE	3.01	(0.24)	0.00	2.00	0.00	0.00	5.47	(7.90)	19.80
TROX	2.27	(0.30)	0.00	(0.08)	0.00	0.00	6.11	(4.98)	17.98
VHI	3.96	0.05	0.04	0.10	5.16	(4.64)	8.19	(7.20)	45.51
WLKP	0.43	0.03	(0.09)	0.72	0.41	(0.48)	0.87	(0.77)	2.54
HUN	1.35	(0.15)	0.00	(0.09)	0.00	0.00	3.18	(3.35)	10.23

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