Axalta Coating Correlations

AXTA Stock

USD 33.02 0.59 1.82%

The current 90-days correlation between Axalta Coating Systems and Eastman Chemical is 0.5 (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 0.41 (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.

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 real.

Moving together with Axalta Stock

0.87	ALB	Albemarle Corp	Pair Corr
0.72	IFF	International Flavors	Pair Corr
0.83	KWR	Quaker Chemical	Pair Corr
0.66	603663	Sanxiang Advanced	Pair Corr
0.65	MTX	Minerals Technologies	Pair Corr
0.82	600309	Wanhua Chemical Group	Pair Corr
0.8	301193	Ningbo Homelink Eco	Pair Corr
0.73	BCPC	Balchem	Pair Corr

Moving against Axalta Stock

0.85	NANO	Nano One Materials	Pair Corr
0.85	603255	Liaoning Dingjide	Pair Corr
0.82	688363	Bloomage Biotechnology	Pair Corr
0.73	301190	Jiujiang Shanshui	Pair Corr
0.62	300073	Beijing Easpring Material	Pair Corr
0.39	RPM	RPM International	Pair Corr
0.84	ADVWW	Advantage Solutions	Pair Corr
0.78	002998	Elite Color Environmental	Pair Corr
0.76	603826	Fujian Kuncai Material	Pair Corr
0.76	600985	Huaibei Mining Holdings	Pair Corr
0.76	GCMGW	GCM Grosvenor	Pair Corr
0.71	PCTTW	PureCycle Technologies	Pair Corr
0.67	MAPSW	WM Technology	Pair Corr
0.66	688299	Ningbo Solartron Tec	Pair Corr
0.62	CNO	California Nanotechnologies Earnings Call This Week	Pair Corr
0.61	000930	Cofco Biochemical Anhui	Pair Corr
0.59	300261	Aba Chemicals Corp	Pair Corr
0.52	002246	North Chemical Industries	Pair Corr
0.46	300905	Poly Plastic Masterbatch	Pair Corr
0.39	688021	Aofu Environmental	Pair Corr
0.36	300848	Miracll Chemicals	Pair Corr

Related Correlations Analysis

	EMN	ESI	NEU	LPX	BCPC	BVN	HBM	SSL	EXP	UFPI
EMN		0.5	-0.46	0.26	0.46	0.77	0.83	-0.03	0.22	0.74	EMN
ESI	0.5		0.11	0.12	0.2	0.13	0.29	0.07	0.01	0.44	ESI
NEU	-0.46	0.11		0.2	-0.64	-0.55	-0.6	-0.22	0.29	-0.36	NEU
LPX	0.26	0.12	0.2		-0.34	0.09	0.07	-0.71	0.9	0.26	LPX
BCPC	0.46	0.2	-0.64	-0.34		0.27	0.32	0.46	-0.37	0.52	BCPC
BVN	0.77	0.13	-0.55	0.09	0.27		0.95	-0.04	0.1	0.56	BVN
HBM	0.83	0.29	-0.6	0.07	0.32	0.95		0.02	0.03	0.6	HBM
SSL	-0.03	0.07	-0.22	-0.71	0.46	-0.04	0.02		-0.72	0.02	SSL
EXP	0.22	0.01	0.29	0.9	-0.37	0.1	0.03	-0.72		0.22	EXP
UFPI	0.74	0.44	-0.36	0.26	0.52	0.56	0.6	0.02	0.22		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	+ 0.95	BVN
EXP	+ 0.9	LPX
HBM	+ 0.83	EMN
BVN	+ 0.77	EMN
UFPI	+ 0.74	EMN
UFPI	+ 0.6	HBM

High negative correlations

EXP	- 0.72	SSL
SSL	- 0.71	LPX
BCPC	- 0.64	NEU
HBM	- 0.6	NEU
BVN	- 0.55	NEU
NEU	- 0.46	EMN

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	1.66	0.05	0.05	0.11	1.90	(1.79)	4.94	(3.60)	9.51
ESI	1.69	(0.08)	0.01	0.05	2.13	(1.80)	3.96	(3.68)	10.60
NEU	1.31	(0.33)	0.00	(0.24)	0.00	0.00	2.25	(2.91)	12.62
LPX	1.69	(0.07)	(0.01)	0.04	2.46	(1.71)	4.15	(2.97)	11.95
BCPC	1.00	0.16	0.13	0.38	0.72	(1.31)	3.10	(1.50)	6.14
BVN	2.10	0.40	0.10	0.60	2.82	(2.03)	4.32	(4.89)	17.93
HBM	2.36	0.34	0.14	0.25	2.78	(2.60)	5.78	(5.81)	15.79
SSL	2.24	0.19	0.06	0.34	2.79	(2.32)	4.50	(4.58)	24.15
EXP	1.54	(0.08)	(0.02)	0.03	2.06	(1.63)	3.94	(2.74)	11.98
UFPI	1.16	0.13	0.10	0.21	1.06	(1.45)	3.46	(2.12)	6.06

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