Icahn Enterprises Correlations

IEP Stock

USD 11.02 0.29 2.56%

The current 90-days correlation between Icahn Enterprises and Delek Energy is 0.38 (i.e., Weak diversification). The correlation of Icahn Enterprises 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Icahn Enterprises Correlation With Market

Weak diversification

The correlation between Icahn Enterprises LP and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Icahn Enterprises LP and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Icahn Enterprises LP. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Related Correlations Analysis

	DK	PBF	DINO	DKL	VLO	MPC	PSX	SUN	CVI	CAPL
DK		0.69	0.87	0.55	0.7	0.92	0.67	0.59	0.58	-0.43	DK
PBF	0.69		0.85	0.19	0.7	0.8	0.8	0.43	0.83	-0.17	PBF
DINO	0.87	0.85		0.42	0.61	0.94	0.74	0.47	0.85	-0.33	DINO
DKL	0.55	0.19	0.42		0.08	0.46	0.24	0.33	0.31	-0.06	DKL
VLO	0.7	0.7	0.61	0.08		0.76	0.84	0.64	0.39	-0.3	VLO
MPC	0.92	0.8	0.94	0.46	0.76		0.81	0.56	0.73	-0.44	MPC
PSX	0.67	0.8	0.74	0.24	0.84	0.81		0.51	0.73	-0.09	PSX
SUN	0.59	0.43	0.47	0.33	0.64	0.56	0.51		0.2	-0.18	SUN
CVI	0.58	0.83	0.85	0.31	0.39	0.73	0.73	0.2		-0.02	CVI
CAPL	-0.43	-0.17	-0.33	-0.06	-0.3	-0.44	-0.09	-0.18	-0.02		CAPL
	DK	PBF	DINO	DKL	VLO	MPC	PSX	SUN	CVI	CAPL

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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

MPC	+ 0.94	DINO
MPC	+ 0.92	DK
DINO	+ 0.87	DK
DINO	+ 0.85	PBF
CVI	+ 0.85	DINO
PSX	+ 0.84	VLO

High negative correlations

CAPL	- 0.44	MPC
CAPL	- 0.43	DK
CAPL	- 0.33	DINO
CAPL	- 0.3	VLO
CAPL	- 0.18	SUN
CAPL	- 0.17	PBF

Risk-Adjusted Indicators

There is a big difference between Icahn Stock performing well and Icahn Enterprises 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 Icahn Enterprises' 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
DK	2.04	(0.22)	0.00	(0.07)	0.00	0.00	3.53	(3.90)	16.10
PBF	1.94	(0.19)	0.00	(0.05)	0.00	0.00	3.52	(3.76)	15.94
DINO	1.57	(0.27)	0.00	(0.11)	0.00	0.00	3.44	(4.36)	11.79
DKL	1.06	0.13	0.00	(0.24)	2.29	(1.02)	2.84	(1.44)	16.59
VLO	1.45	(0.10)	(0.05)	(0.01)	2.03	(1.40)	2.87	(3.31)	11.46
MPC	1.36	(0.17)	0.00	(0.13)	0.00	0.00	3.19	(3.01)	13.39
PSX	1.12	(0.11)	0.00	(0.01)	0.00	0.00	1.81	(2.97)	7.77
SUN	1.04	(0.01)	(0.05)	0.08	1.08	(1.24)	2.68	(1.93)	5.70
CVI	2.60	(0.51)	0.00	(0.18)	0.00	0.00	3.99	(5.81)	28.93
CAPL	1.14	0.03	(0.02)	0.17	1.21	(1.29)	3.11	(2.23)	6.78

Icahn Enterprises Corporate Management

Hunter Gary	Managing Director	Profile
Ted Papapostolou	Director CFO	Profile
Angel Montalvo	Investor Contact	Profile
Robert Flint	Chief Officer	Profile
Andrew Langham	G Counsel	Profile
Andrew Teno	Chief Officer	Profile

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