Celanese Correlations

CE Stock

USD 52.06 0.75 1.42%

The current 90-days correlation between Celanese and Balchem is 0.35 (i.e., Weak diversification). The correlation of Celanese 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.

Celanese Correlation With Market

Very poor diversification

The correlation between Celanese 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 Celanese and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Celanese Stock

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

For information on how to trade Celanese Stock refer to our How to Trade Celanese Stock guide.

Moving together with Celanese Stock

0.82	EMSN	EMS CHEMIE HOLDING Earnings Call Today	Pair Corr
0.63	2CU	Chemours	Pair Corr
0.72	NPV	Nippon Carbon	Pair Corr
0.84	ALB	Albemarle Corp	Pair Corr
0.86	ASH	Ashland Global Holdings	Pair Corr
0.83	ECL	Ecolab Inc	Pair Corr
0.72	ESI	Element Solutions	Pair Corr
0.8	FUL	H B Fuller	Pair Corr
0.8	IFF	International Flavors Earnings Call This Week	Pair Corr
0.95	KWR	Quaker Chemical	Pair Corr
0.94	MTX	Minerals Technologies	Pair Corr
0.93	PPG	PPG Industries	Pair Corr
0.74	RPM	RPM International	Pair Corr
0.92	SCL	Stepan Company	Pair Corr
0.64	SHW	Sherwin Williams	Pair Corr
0.67	VHI	Valhi Inc	Pair Corr
0.66	ELM	Elementis PLC	Pair Corr
0.86	MNK	Minerals Technologies	Pair Corr
0.66	WD1	WD 40 Company	Pair Corr

Moving against Celanese Stock

0.77	NANO	Nano One Materials	Pair Corr
0.73	UT8	Uber Technologies	Pair Corr
0.72	FSI	Flexible Solutions	Pair Corr
0.35	ARQ	Arq Inc	Pair Corr
0.68	NEU	NewMarket Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BCPC	SXT	CBT	SSL	TMC	HWKN	ORLA	ASH	SSRM	FUL
BCPC		0.47	0.77	0.55	0.33	0.31	0.75	0.63	0.73	0.57	BCPC
SXT	0.47		0.43	0.08	0.27	0.49	0.5	0.46	0.3	0.49	SXT
CBT	0.77	0.43		0.27	0.63	0.65	0.73	0.89	0.65	0.82	CBT
SSL	0.55	0.08	0.27		-0.05	-0.04	0.42	0.12	0.44	0.22	SSL
TMC	0.33	0.27	0.63	-0.05		0.76	0.66	0.73	0.54	0.38	TMC
HWKN	0.31	0.49	0.65	-0.04	0.76		0.63	0.75	0.44	0.54	HWKN
ORLA	0.75	0.5	0.73	0.42	0.66	0.63		0.78	0.79	0.48	ORLA
ASH	0.63	0.46	0.89	0.12	0.73	0.75	0.78		0.58	0.78	ASH
SSRM	0.73	0.3	0.65	0.44	0.54	0.44	0.79	0.58		0.35	SSRM
FUL	0.57	0.49	0.82	0.22	0.38	0.54	0.48	0.78	0.35		FUL
	BCPC	SXT	CBT	SSL	TMC	HWKN	ORLA	ASH	SSRM	FUL

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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

ASH	+ 0.89	CBT
FUL	+ 0.82	CBT
SSRM	+ 0.79	ORLA
ASH	+ 0.78	ORLA
FUL	+ 0.78	ASH
CBT	+ 0.77	BCPC

High negative correlations

TMC	- 0.05	SSL
HWKN	- 0.04	SSL

Risk-Adjusted Indicators

There is a big difference between Celanese Stock performing well and Celanese 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 Celanese'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
BCPC	1.02	0.16	0.17	0.20	0.80	(1.40)	3.26	(1.53)	7.13
SXT	1.28	0.01	0.01	0.05	1.62	(1.34)	2.90	(2.52)	9.53
CBT	1.61	0.16	0.09	0.14	1.86	(1.82)	4.36	(3.15)	8.68
SSL	2.39	0.15	0.04	0.30	3.49	(2.31)	5.23	(5.49)	18.92
TMC	5.78	(0.15)	0.00	(0.03)	0.00	0.00	13.46	(11.50)	37.07
HWKN	1.70	(0.15)	0.00	(0.09)	0.00	0.00	3.29	(4.40)	14.80
ORLA	3.29	0.62	0.12	1.07	4.30	(3.38)	7.66	(8.21)	27.40
ASH	1.70	0.38	0.24	0.44	1.25	(2.02)	5.71	(2.64)	13.67
SSRM	2.65	0.16	0.03	(0.55)	4.11	(2.65)	6.74	(5.57)	27.20
FUL	1.35	0.17	0.11	0.17	1.36	(1.65)	3.51	(2.11)	8.23

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