Element Solutions Correlations

ESI Stock

USD 26.13 0.04 0.15%

The current 90-days correlation between Element Solutions and Quaker Chemical is 0.4 (i.e., Very weak diversification). The correlation of Element Solutions 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.

Element Solutions Correlation With Market

Modest diversification

The correlation between Element Solutions and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Element Solutions and DJI in the same portfolio, assuming nothing else is changed.

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

For more detail on how to invest in Element Stock please use our How to Invest in Element Solutions guide.

Moving together with Element Stock

0.75	CC	Chemours Downward Rally	Pair Corr
0.89	DD	Dupont De Nemours	Pair Corr
0.62	ECVT	Ecovyst	Pair Corr
0.88	ALB-PA	Albemarle	Pair Corr
0.87	ALB	Albemarle Corp	Pair Corr
0.83	ASH	Ashland Global Holdings	Pair Corr
0.95	CBT	Cabot	Pair Corr
0.7	CMT	Core Molding Technologies	Pair Corr
0.72	EMN	Eastman Chemical	Pair Corr
0.89	FUL	H B Fuller	Pair Corr
0.86	IFF	International Flavors Earnings Call This Week	Pair Corr
0.94	KOP	Koppers Holdings	Pair Corr
0.91	KRO	Kronos Worldwide	Pair Corr
0.92	KWR	Quaker Chemical	Pair Corr
0.81	LYB	LyondellBasell Industries	Pair Corr
0.91	MTX	Minerals Technologies	Pair Corr
0.71	NEU	NewMarket	Pair Corr
0.87	OEC	Orion Engineered Carbons	Pair Corr
0.73	PPG	PPG Industries Sell-off Trend	Pair Corr
0.94	RPM	RPM International	Pair Corr
0.93	SCL	Stepan Company Earnings Call This Week	Pair Corr
0.89	SHW	Sherwin Williams	Pair Corr
0.74	SSL	Sasol	Pair Corr
0.73	SXT	Sensient Technologies	Pair Corr
0.95	WLK	Westlake Chemical Earnings Call This Week	Pair Corr
0.76	HWKN	Hawkins	Pair Corr
0.85	IOSP	Innospec	Pair Corr

Moving against Element Stock

0.34	FSI	Flexible Solutions Upward Rally	Pair Corr
0.61	GEVO	Gevo Inc	Pair Corr
0.37	TSE	Trinseo SA	Pair Corr

Related Correlations Analysis

	ODC	KWR	ECVT	MTX	SXT	FUL	ASH	IOSP	OEC	NGVT
ODC		-0.81	-0.67	-0.76	-0.55	-0.76	-0.7	-0.72	-0.76	-0.54	ODC
KWR	-0.81		0.6	0.89	0.76	0.89	0.77	0.87	0.81	0.64	KWR
ECVT	-0.67	0.6		0.51	0.66	0.36	0.29	0.66	0.39	0.71	ECVT
MTX	-0.76	0.89	0.51		0.72	0.91	0.84	0.89	0.86	0.67	MTX
SXT	-0.55	0.76	0.66	0.72		0.59	0.41	0.86	0.49	0.84	SXT
FUL	-0.76	0.89	0.36	0.91	0.59		0.9	0.74	0.94	0.48	FUL
ASH	-0.7	0.77	0.29	0.84	0.41	0.9		0.66	0.9	0.42	ASH
IOSP	-0.72	0.87	0.66	0.89	0.86	0.74	0.66		0.67	0.84	IOSP
OEC	-0.76	0.81	0.39	0.86	0.49	0.94	0.9	0.67		0.5	OEC
NGVT	-0.54	0.64	0.71	0.67	0.84	0.48	0.42	0.84	0.5		NGVT
	ODC	KWR	ECVT	MTX	SXT	FUL	ASH	IOSP	OEC	NGVT

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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

OEC	+ 0.94	FUL
FUL	+ 0.91	MTX
ASH	+ 0.9	FUL
OEC	+ 0.9	ASH
MTX	+ 0.89	KWR
FUL	+ 0.89	KWR

High negative correlations

KWR	- 0.81	ODC
OEC	- 0.76	ODC
FUL	- 0.76	ODC
MTX	- 0.76	ODC
IOSP	- 0.72	ODC
ASH	- 0.7	ODC

Risk-Adjusted Indicators

There is a big difference between Element Stock performing well and Element Solutions 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 Element Solutions' 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
ODC	1.57	0.27	0.13	1.86	1.80	(1.74)	2.30	(2.51)	22.38
KWR	1.42	(0.28)	0.00	(0.29)	0.00	0.00	2.46	(2.92)	8.76
ECVT	1.37	0.04	0.02	0.11	1.52	(1.51)	2.86	(2.26)	12.72
MTX	1.10	(0.21)	0.00	(0.28)	0.00	0.00	1.93	(2.51)	7.44
SXT	1.16	(0.16)	0.00	(0.14)	0.00	0.00	1.92	(2.45)	6.44
FUL	1.13	(0.36)	0.00	(0.44)	0.00	0.00	1.85	(3.00)	9.94
ASH	1.32	(0.32)	0.00	(0.33)	0.00	0.00	1.87	(2.73)	12.55
IOSP	1.06	(0.17)	0.00	(0.18)	0.00	0.00	2.24	(2.20)	5.97
OEC	1.98	(0.10)	0.00	(0.23)	0.00	0.00	4.05	(3.55)	19.27
NGVT	1.97	0.02	0.01	0.02	2.31	(2.00)	4.47	(3.41)	14.87

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