Axalta Coating Correlations

AXTA Stock

USD 34.05 0.43 1.25%

The current 90-days correlation between Axalta Coating Systems and Eastman Chemical is 0.06 (i.e., Significant diversification). The correlation of Axalta Coating 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.

Axalta Coating Correlation With Market

Very poor diversification

The correlation between Axalta Coating Systems and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axalta Coating Systems and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Axalta Stock

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

Moving together with Axalta Stock

0.69	WCH	Wacker Chemie AG	Pair Corr
0.79	CE	Celanese	Pair Corr
0.81	EMSN	EMS CHEMIE HOLDING	Pair Corr
0.68	SZ8	Sumitomo Bakelite	Pair Corr
0.72	2CU	Chemours	Pair Corr
0.62	22E	TRI CHEMICAL LABORATINC	Pair Corr
0.83	AFW	Align Technology	Pair Corr
0.68	K1W	Kronos Worldwide	Pair Corr
0.86	FMV	First Majestic Silver	Pair Corr
0.75	18RA	Select Energy Services	Pair Corr
0.82	PY9	Avient	Pair Corr
0.64	NPV	Nippon Carbon	Pair Corr
0.82	OCT	Innospec	Pair Corr
0.87	ALB	Albemarle Corp	Pair Corr
0.81	ASH	Ashland Global Holdings	Pair Corr
0.76	ECL	Ecolab Inc	Pair Corr
0.74	ESI	Element Solutions Earnings Call Today	Pair Corr
0.66	FTK	Flotek Industries	Pair Corr
0.76	FUL	H B Fuller	Pair Corr
0.72	IFF	International Flavors	Pair Corr

Moving against Axalta Stock

0.88	NANO	Nano One Materials	Pair Corr
0.79	UT8	Uber Technologies	Pair Corr
0.75	M5S	Marna Beteiligungen	Pair Corr
0.76	GIN1	Givaudan SA	Pair Corr
0.79	NEU	NewMarket	Pair Corr
0.73	FSI	Flexible Solutions	Pair Corr

Related Correlations Analysis

	EMN	ESI	NEU	LPX	BCPC	BVN	HBM	SSL	EXP	UFPI
EMN		0.9	-0.73	0.7	0.92	0.89	0.88	0.66	0.62	0.93	EMN
ESI	0.9		-0.76	0.57	0.86	0.86	0.83	0.75	0.62	0.85	ESI
NEU	-0.73	-0.76		-0.37	-0.77	-0.79	-0.78	-0.67	-0.34	-0.69	NEU
LPX	0.7	0.57	-0.37		0.66	0.76	0.74	0.15	0.74	0.81	LPX
BCPC	0.92	0.86	-0.77	0.66		0.89	0.88	0.7	0.49	0.95	BCPC
BVN	0.89	0.86	-0.79	0.76	0.89		0.99	0.59	0.56	0.91	BVN
HBM	0.88	0.83	-0.78	0.74	0.88	0.99		0.56	0.51	0.89	HBM
SSL	0.66	0.75	-0.67	0.15	0.7	0.59	0.56		0.22	0.62	SSL
EXP	0.62	0.62	-0.34	0.74	0.49	0.56	0.51	0.22		0.65	EXP
UFPI	0.93	0.85	-0.69	0.81	0.95	0.91	0.89	0.62	0.65		UFPI
	EMN	ESI	NEU	LPX	BCPC	BVN	HBM	SSL	EXP	UFPI

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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

HBM	+ 0.99	BVN
UFPI	+ 0.95	BCPC
UFPI	+ 0.93	EMN
BCPC	+ 0.92	EMN
UFPI	+ 0.91	BVN
ESI	+ 0.9	EMN

High negative correlations

BVN	- 0.79	NEU
HBM	- 0.78	NEU
BCPC	- 0.77	NEU
NEU	- 0.76	ESI
NEU	- 0.73	EMN
UFPI	- 0.69	NEU

Risk-Adjusted Indicators

There is a big difference between Axalta Stock performing well and Axalta Coating 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 Axalta Coating'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
EMN	1.58	0.46	0.21	(1.94)	1.45	(1.79)	5.51	(3.03)	9.74
ESI	1.97	0.46	0.25	0.29	1.68	(2.37)	4.59	(3.60)	12.50
NEU	1.44	(0.37)	0.00	(0.23)	0.00	0.00	2.34	(2.91)	17.46
LPX	1.84	0.06	0.04	0.10	2.28	(1.94)	5.20	(4.61)	14.05
BCPC	1.16	0.15	0.13	0.29	0.90	(1.62)	3.26	(1.86)	7.13
BVN	2.30	0.77	0.22	0.85	2.76	(2.60)	6.31	(4.89)	19.47
HBM	2.56	0.80	0.22	0.93	3.09	(2.98)	5.78	(4.01)	21.74
SSL	2.72	0.41	0.09	(1.21)	3.38	(2.88)	6.98	(5.49)	18.92
EXP	1.64	0.11	0.07	0.15	1.76	(1.75)	4.45	(2.74)	10.51
UFPI	1.32	0.22	0.18	0.26	1.07	(1.64)	3.85	(2.21)	7.86

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