Axalta Coating Correlations

AXTA Stock

USD 36.28 0.62 1.74%

The current 90-days correlation between Axalta Coating Systems and Avient Corp is 0.55 (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

Modest diversification

The correlation between Axalta Coating Systems and DJI is 0.21 (i.e., Modest 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

0.81	CC	Chemours	Pair Corr
0.66	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.92	ALB-PA	Albemarle	Pair Corr
0.91	ALB	Albemarle Corp	Pair Corr
0.66	APD	Air Products	Pair Corr
0.71	CBT	Cabot	Pair Corr
0.91	ESI	Element Solutions	Pair Corr
0.7	FUL	H B Fuller	Pair Corr
0.82	KOP	Koppers Holdings	Pair Corr
0.77	KWR	Quaker Chemical	Pair Corr
0.87	MTX	Minerals Technologies	Pair Corr
0.71	NEU	NewMarket	Pair Corr
0.79	OEC	Orion Engineered Carbons	Pair Corr
0.9	RPM	RPM International	Pair Corr
0.84	SCL	Stepan Company	Pair Corr
0.86	SHW	Sherwin Williams Earnings Call This Week	Pair Corr
0.77	SXT	Sensient Technologies	Pair Corr

Moving against Axalta Stock

0.58	FEAM	5E Advanced Materials	Pair Corr
0.31	BSLKW	Bolt Projects Holdings, Symbol Change	Pair Corr
0.58	GEVO	Gevo Inc	Pair Corr
0.56	ALTO	Alto Ingredients	Pair Corr
0.48	TSE	Trinseo SA	Pair Corr

Related Correlations Analysis

	AVNT	FUL	KWR	CBT	IOSP	MTX	ODC	SXT	OEC	ECVT
AVNT		0.94	0.92	0.95	0.75	0.84	-0.78	0.95	0.77	0.12	AVNT
FUL	0.94		0.91	0.96	0.62	0.74	-0.75	0.94	0.68	-0.09	FUL
KWR	0.92	0.91		0.93	0.72	0.78	-0.75	0.91	0.63	0.14	KWR
CBT	0.95	0.96	0.93		0.58	0.7	-0.82	0.93	0.6	-0.09	CBT
IOSP	0.75	0.62	0.72	0.58		0.93	-0.35	0.72	0.8	0.62	IOSP
MTX	0.84	0.74	0.78	0.7	0.93		-0.46	0.81	0.84	0.5	MTX
ODC	-0.78	-0.75	-0.75	-0.82	-0.35	-0.46		-0.67	-0.44	0.13	ODC
SXT	0.95	0.94	0.91	0.93	0.72	0.81	-0.67		0.67	0.05	SXT
OEC	0.77	0.68	0.63	0.6	0.8	0.84	-0.44	0.67		0.42	OEC
ECVT	0.12	-0.09	0.14	-0.09	0.62	0.5	0.13	0.05	0.42		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

CBT	+ 0.96	FUL
CBT	+ 0.95	AVNT
SXT	+ 0.95	AVNT
FUL	+ 0.94	AVNT
SXT	+ 0.94	FUL
CBT	+ 0.93	KWR

High negative correlations

ODC	- 0.82	CBT
ODC	- 0.78	AVNT
ODC	- 0.75	KWR
ODC	- 0.75	FUL
SXT	- 0.67	ODC
ODC	- 0.46	MTX

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	1.43	(0.21)	0.00	(0.28)	0.00	0.00	3.25	(2.41)	13.45
FUL	1.16	(0.35)	0.00	(0.60)	0.00	0.00	1.72	(3.00)	14.20
KWR	1.52	(0.27)	0.00	(1.31)	0.00	0.00	2.45	(2.92)	18.04
CBT	1.34	(0.32)	0.00	(1.58)	0.00	0.00	2.55	(2.70)	12.59
IOSP	1.20	0.01	0.01	0.02	1.53	(1.18)	2.24	(2.20)	16.32
MTX	1.24	(0.02)	0.00	(0.05)	0.00	0.00	2.83	(2.51)	13.23
ODC	1.72	0.37	0.18	1.01	1.67	(1.92)	3.99	(2.51)	22.38
SXT	1.07	(0.09)	0.00	(0.16)	0.00	0.00	1.92	(2.33)	10.90
OEC	2.19	(0.19)	0.00	(5.44)	0.00	0.00	4.05	(3.75)	19.27
ECVT	1.86	0.27	0.15	1.06	1.62	(2.31)	4.55	(2.66)	18.71

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