Icahn Enterprises Correlations

IEP Stock

USD 9.38 0.07 0.74%

The current 90-days correlation between Icahn Enterprises and Delek Energy is 0.34 (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

Good diversification

The correlation between Icahn Enterprises LP and DJI is -0.11 (i.e., Good 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.

Moving together with Icahn Stock

0.87	DINO	HF Sinclair Corp	Pair Corr
0.62	CVI	CVR Energy	Pair Corr
0.64	MPC	Marathon Petroleum Corp	Pair Corr
0.7	PBF	PBF Energy	Pair Corr
0.66	PSX	Phillips 66	Pair Corr
0.91	UGP	Ultrapar Participacoes	Pair Corr
0.91	CSAN	Cosan SA ADR Downward Rally	Pair Corr
0.69	J	Jacobs Solutions	Pair Corr
0.88	BW	Babcock Wilcox Enter	Pair Corr
0.81	CP	Canadian Pacific Railway	Pair Corr
0.63	DY	Dycom Industries	Pair Corr
0.63	EH	Ehang Holdings	Pair Corr

Moving against Icahn Stock

0.85	BDCO	Blue Dolphin Energy Trending	Pair Corr
0.84	AE	Adams Resources Energy	Pair Corr
0.81	DKL	Delek Logistics Partners	Pair Corr
0.75	PTLE	PTL LTD Ordinary	Pair Corr
0.6	CAPL	Crossamerica Partners	Pair Corr
0.32	DK	Delek Energy	Pair Corr
0.88	B	Barnes Group Earnings Call This Week	Pair Corr
0.81	AZ	A2Z Smart Technologies	Pair Corr
0.81	BE	Bloom Energy Corp	Pair Corr
0.68	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.61	AP	Ampco Pittsburgh	Pair Corr
0.6	G	Genpact Limited	Pair Corr
0.59	BR	Broadridge Financial	Pair Corr
0.57	AL	Air Lease	Pair Corr
0.56	R	Ryder System	Pair Corr
0.47	DE	Deere Company	Pair Corr
0.92	KC	Kingsoft Cloud Holdings	Pair Corr
0.86	PL	Planet Labs PBC	Pair Corr

Related Correlations Analysis

	DK	PBF	DINO	DKL	VLO	MPC	PSX	SUN	CVI	CAPL
DK		0.33	0.08	0.56	0.51	0.42	0.31	0.66	0.11	0.21	DK
PBF	0.33		0.91	-0.43	0.9	0.95	0.93	0.41	0.6	-0.47	PBF
DINO	0.08	0.91		-0.68	0.83	0.91	0.92	0.18	0.54	-0.69	DINO
DKL	0.56	-0.43	-0.68		-0.26	-0.39	-0.53	0.25	-0.2	0.72	DKL
VLO	0.51	0.9	0.83	-0.26		0.96	0.88	0.53	0.33	-0.52	VLO
MPC	0.42	0.95	0.91	-0.39	0.96		0.94	0.43	0.48	-0.55	MPC
PSX	0.31	0.93	0.92	-0.53	0.88	0.94		0.5	0.43	-0.6	PSX
SUN	0.66	0.41	0.18	0.25	0.53	0.43	0.5		-0.07	0.02	SUN
CVI	0.11	0.6	0.54	-0.2	0.33	0.48	0.43	-0.07		0.04	CVI
CAPL	0.21	-0.47	-0.69	0.72	-0.52	-0.55	-0.6	0.02	0.04		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	+ 0.96	VLO
MPC	+ 0.95	PBF
PSX	+ 0.94	MPC
PSX	+ 0.93	PBF
PSX	+ 0.92	DINO
DINO	+ 0.91	PBF

High negative correlations

CAPL	- 0.69	DINO
DKL	- 0.68	DINO
CAPL	- 0.6	PSX
CAPL	- 0.55	MPC
PSX	- 0.53	DKL
CAPL	- 0.52	VLO

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	2.15	0.09	0.03	(0.40)	2.90	(2.12)	4.28	(4.53)	13.99
PBF	1.90	(0.09)	0.00	(0.24)	0.00	0.00	3.84	(4.21)	11.78
DINO	1.43	(0.31)	0.00	(3.67)	0.00	0.00	2.49	(4.36)	10.71
DKL	0.72	0.24	0.33	1.15	0.36	(0.84)	1.74	(1.07)	3.82
VLO	1.25	(0.02)	0.00	(0.08)	0.00	0.00	2.75	(2.71)	8.18
MPC	1.23	(0.11)	0.00	(0.26)	0.00	0.00	2.88	(3.37)	8.87
PSX	1.12	(0.18)	0.00	(0.48)	0.00	0.00	1.73	(3.43)	10.22
SUN	1.04	0.05	0.04	0.08	1.43	(0.96)	2.47	(2.14)	7.24
CVI	2.29	(0.12)	0.00	(0.41)	0.00	0.00	3.76	(5.26)	27.62
CAPL	1.04	0.09	0.08	(0.55)	1.09	(1.14)	2.88	(2.03)	6.12

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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