Axalta Coating Correlations

AXTA Stock

USD 39.78 0.89 2.29%

The current 90-days correlation between Axalta Coating Systems and Avient Corp is 0.53 (i.e., Very weak 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 weak diversification

The correlation between Axalta Coating Systems and DJI is 0.45 (i.e., Very weak 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.

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 estimate.

Moving together with Axalta Stock

0.82	ECVT	Ecovyst	Pair Corr
0.83	WDFC	WD 40 Company	Pair Corr
0.82	WTTR	Select Energy Services	Pair Corr
0.75	ALB-PA	Albemarle	Pair Corr
0.74	ALB	Albemarle Corp	Pair Corr
0.84	ESI	Element Solutions	Pair Corr
0.75	FSI	Flexible Solutions	Pair Corr
0.8	MTX	Minerals Technologies	Pair Corr
0.71	RPM	RPM International	Pair Corr

Moving against Axalta Stock

0.7	ASH	Ashland Global Holdings	Pair Corr
0.63	DNMR	Danimer Scientific	Pair Corr
0.51	FEAM	5E Advanced Materials	Pair Corr
0.37	FF	FutureFuel Corp	Pair Corr
0.34	CMT	Core Molding Technologies	Pair Corr
0.31	ECL	Ecolab Inc	Pair Corr
0.81	IFF	International Flavors	Pair Corr
0.74	LYB	LyondellBasell Industries	Pair Corr
0.53	LIN	Linde plc Ordinary	Pair Corr
0.42	FUL	H B Fuller Fiscal Year End 15th of January 2025	Pair Corr
0.36	PPG	PPG Industries Fiscal Year End 16th of January 2025	Pair Corr
0.84	HDSN	Hudson Technologies	Pair Corr
0.78	MATV	Mativ Holdings	Pair Corr
0.69	SSL	Sasol	Pair Corr
0.65	MACE	Mace Security Intl	Pair Corr
0.64	HGAS	Global Gas Symbol Change	Pair Corr
0.55	WLK	Westlake Chemical	Pair Corr

Related Correlations Analysis

	AVNT	FUL	KWR	CBT	IOSP	MTX	ODC	SXT	OEC	ECVT
AVNT		-0.13	0.5	0.78	0.85	0.83	0.66	0.88	0.32	0.53	AVNT
FUL	-0.13		0.46	-0.33	-0.02	-0.39	-0.17	-0.11	0.58	-0.24	FUL
KWR	0.5	0.46		0.18	0.74	0.36	0.38	0.44	0.63	0.59	KWR
CBT	0.78	-0.33	0.18		0.54	0.65	0.69	0.85	-0.15	0.19	CBT
IOSP	0.85	-0.02	0.74	0.54		0.85	0.63	0.68	0.46	0.79	IOSP
MTX	0.83	-0.39	0.36	0.65	0.85		0.69	0.68	0.18	0.7	MTX
ODC	0.66	-0.17	0.38	0.69	0.63	0.69		0.73	-0.1	0.44	ODC
SXT	0.88	-0.11	0.44	0.85	0.68	0.68	0.73		0.05	0.34	SXT
OEC	0.32	0.58	0.63	-0.15	0.46	0.18	-0.1	0.05		0.32	OEC
ECVT	0.53	-0.24	0.59	0.19	0.79	0.7	0.44	0.34	0.32		ECVT
	AVNT	FUL	KWR	CBT	IOSP	MTX	ODC	SXT	OEC	ECVT

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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

SXT	+ 0.88	AVNT
IOSP	+ 0.85	AVNT
SXT	+ 0.85	CBT
MTX	+ 0.85	IOSP
MTX	+ 0.83	AVNT
ECVT	+ 0.79	IOSP

High negative correlations

MTX	- 0.39	FUL
CBT	- 0.33	FUL
ECVT	- 0.24	FUL
ODC	- 0.17	FUL
OEC	- 0.15	CBT
FUL	- 0.13	AVNT

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
AVNT	1.35	(0.02)	0.03	0.09	1.43	(1.51)	3.08	(2.41)	7.92
FUL	1.01	(0.27)	0.00	(0.08)	0.00	0.00	1.76	(2.51)	8.58
KWR	1.49	(0.18)	(0.03)	0.02	1.84	(1.54)	2.37	(2.62)	18.04
CBT	1.23	(0.05)	0.01	0.07	1.29	(1.36)	2.82	(1.75)	10.88
IOSP	1.23	(0.10)	0.01	0.05	1.31	(1.34)	2.24	(2.10)	16.32
MTX	1.30	(0.04)	0.04	0.08	1.29	(1.50)	2.94	(2.51)	11.90
ODC	1.33	(0.01)	0.00	0.09	1.62	(1.37)	3.14	(2.09)	12.06
SXT	1.05	(0.08)	(0.02)	0.04	1.27	(1.06)	2.14	(2.19)	8.84
OEC	2.24	(0.18)	(0.02)	0.02	2.55	(2.23)	5.81	(3.84)	15.71
ECVT	1.83	0.28	0.09	(2.14)	1.58	(2.34)	4.55	(3.08)	17.08

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