Celanese Correlations

CE Stock

USD 49.56 0.43 0.88%

The current 90-days correlation between Celanese and Balchem is 0.38 (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 0.8 (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 housing.

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

Moving together with Celanese Stock

0.88	WCH	Wacker Chemie AG	Pair Corr
0.72	FF	FutureFuel Corp	Pair Corr
0.89	EMSN	EMS CHEMIE HOLDING	Pair Corr
0.78	SZ8	Sumitomo Bakelite	Pair Corr
0.89	LXS	LANXESS Aktiengesellscha	Pair Corr
0.82	EMB	5N PLUS	Pair Corr
0.95	2CU	Chemours	Pair Corr
0.74	SQU	Vinci S A	Pair Corr
0.8	22E	TRI CHEMICAL LABORATINC	Pair Corr
0.67	SAO	Sasol	Pair Corr
0.84	AFW	Align Technology	Pair Corr
0.93	K1W	Kronos Worldwide	Pair Corr
0.74	FMV	First Majestic Silver	Pair Corr
0.83	18RA	Select Energy Services	Pair Corr
0.92	PY9	Avient	Pair Corr
0.87	RP8	RPM International	Pair Corr
0.88	NPV	Nippon Carbon	Pair Corr
0.81	OCT	Innospec	Pair Corr
0.68	ALB	Albemarle Corp	Pair Corr
0.67	ASH	Ashland Global Holdings	Pair Corr
0.88	ECL	Ecolab Inc	Pair Corr
0.83	ESI	Element Solutions	Pair Corr
0.87	FUL	H B Fuller	Pair Corr
0.75	AP3	Air Products	Pair Corr
0.87	IFF	International Flavors	Pair Corr

Moving against Celanese Stock

0.92	M5S	Marna Beteiligungen	Pair Corr
0.85	UT8	Uber Technologies	Pair Corr
0.78	NANO	Nano One Materials	Pair Corr
0.62	4QT1	HEXPOL AB	Pair Corr
0.46	GIN1	Givaudan SA	Pair Corr
0.41	7YC	Synthomer plc	Pair Corr
0.82	FSI	Flexible Solutions	Pair Corr
0.66	NEU	NewMarket	Pair Corr

Related Correlations Analysis

	BCPC	SXT	CBT	SSL	TMC	HWKN	ORLA	ASH	SSRM	FUL
BCPC		0.25	0.87	0.81	-0.19	0.19	0.84	0.6	0.83	0.77	BCPC
SXT	0.25		0.21	-0.07	0.06	0.22	0.15	0.12	0.06	0.24	SXT
CBT	0.87	0.21		0.71	0.03	0.43	0.74	0.85	0.7	0.86	CBT
SSL	0.81	-0.07	0.71		-0.27	0.16	0.78	0.47	0.84	0.69	SSL
TMC	-0.19	0.06	0.03	-0.27		0.53	0.1	0.37	-0.06	-0.23	TMC
HWKN	0.19	0.22	0.43	0.16	0.53		0.38	0.62	0.3	0.32	HWKN
ORLA	0.84	0.15	0.74	0.78	0.1	0.38		0.63	0.95	0.56	ORLA
ASH	0.6	0.12	0.85	0.47	0.37	0.62	0.63		0.53	0.69	ASH
SSRM	0.83	0.06	0.7	0.84	-0.06	0.3	0.95	0.53		0.58	SSRM
FUL	0.77	0.24	0.86	0.69	-0.23	0.32	0.56	0.69	0.58		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

SSRM	+ 0.95	ORLA
CBT	+ 0.87	BCPC
FUL	+ 0.86	CBT
ASH	+ 0.85	CBT
ORLA	+ 0.84	BCPC
SSRM	+ 0.84	SSL

High negative correlations

TMC	- 0.27	SSL
FUL	- 0.23	TMC
TMC	- 0.19	BCPC
SSL	- 0.07	SXT
SSRM	- 0.06	TMC

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	1.16	0.18	0.14	0.38	0.85	(1.59)	3.26	(1.86)	7.13
SXT	1.37	(0.02)	(0.02)	0.09	1.76	(1.46)	2.90	(2.57)	8.59
CBT	1.39	0.29	0.20	0.38	1.16	(1.65)	4.36	(2.21)	13.59
SSL	2.71	0.26	0.06	0.58	3.38	(2.81)	6.98	(4.81)	18.92
TMC	5.56	0.34	0.07	0.25	6.79	(5.69)	13.46	(11.50)	37.07
HWKN	1.70	0.22	0.09	0.30	2.42	(1.81)	3.86	(4.03)	14.80
ORLA	3.42	0.82	0.13	(3.37)	4.44	(3.49)	8.01	(8.21)	27.40
ASH	1.63	0.28	0.19	0.35	1.25	(1.91)	4.54	(2.72)	13.74
SSRM	3.19	0.76	0.12	(0.50)	3.87	(3.51)	7.23	(6.54)	27.20
FUL	1.37	0.14	0.10	0.23	1.36	(1.64)	3.51	(2.39)	8.23

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