Methanex Correlations

MEOH Stock

USD 49.31 1.51 3.16%

The current 90-days correlation between Methanex and WD 40 Company is -0.01 (i.e., Good diversification). The correlation of Methanex 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.

Methanex Correlation With Market

Very poor diversification

The correlation between Methanex and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Methanex and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Methanex Stock

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

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

Moving together with Methanex Stock

0.91	BANB	Bachem Holding AG	Pair Corr
0.69	BAK	Braskem SA Class	Pair Corr
0.91	DOW	Dow Inc Aggressive Push	Pair Corr
0.8	LYB	LyondellBasell Industries	Pair Corr
0.82	OLN	Olin	Pair Corr
0.78	RYQ	Rayonier Advanced	Pair Corr
0.89	SOLS	Solstice Advanced Earnings Call This Week	Pair Corr
0.86	CHE-UN	Chemtrade Logistics	Pair Corr
0.72	ATCOL	Atlas Corp	Pair Corr
0.85	FIBK	First Interstate Ban	Pair Corr
0.86	THO	Thor Industries	Pair Corr
0.69	PGEZF	Group Ten Metals	Pair Corr
0.83	AROC	Archrock Symbol Change	Pair Corr
0.92	ENS	Enersys Earnings Call This Week	Pair Corr
0.75	RCKY	Rocky Brands	Pair Corr
0.85	RILYL	B Riley Financial	Pair Corr
0.86	YLLXF	Yellow Cake plc Upward Rally	Pair Corr
0.61	OMC	Omnicom Group Earnings Call This Week	Pair Corr
0.92	SECVY	Seche Environnement	Pair Corr
0.81	TFLM	TFLM	Pair Corr
0.88	NEWTH	NewtekOne 8625 percent	Pair Corr
0.88	APETF	Alpha Esports Tech	Pair Corr

Moving against Methanex Stock

0.83	GCMGW	GCM Grosvenor	Pair Corr
0.77	ADVWW	Advantage Solutions	Pair Corr
0.71	MAPSW	WM Technology	Pair Corr
0.64	NTNX	Nutanix	Pair Corr
0.63	5EA	5E Advanced Materials	Pair Corr
0.31	PCTTW	PureCycle Technologies	Pair Corr
0.78	BROGF	BROGF	Pair Corr
0.36	ALL	Allstate Earnings Call This Week	Pair Corr
0.34	NVNIW	Nvni Group Limited	Pair Corr

Related Correlations Analysis

	WDFC	BCC	FSM	HWKN	TGLS	TTAM	USAS	CGAU	AVNT	TMC
WDFC		0.6	0.61	0.11	-0.15	0.63	0.78	0.73	0.72	0.37	WDFC
BCC	0.6		0.84	0.65	0.17	0.84	0.85	0.88	0.89	0.67	BCC
FSM	0.61	0.84		0.63	0.01	0.88	0.89	0.92	0.77	0.73	FSM
HWKN	0.11	0.65	0.63		0.5	0.64	0.59	0.62	0.61	0.71	HWKN
TGLS	-0.15	0.17	0.01	0.5		0.03	0.04	0.0	0.28	0.45	TGLS
TTAM	0.63	0.84	0.88	0.64	0.03		0.85	0.89	0.79	0.63	TTAM
USAS	0.78	0.85	0.89	0.59	0.04	0.85		0.97	0.88	0.72	USAS
CGAU	0.73	0.88	0.92	0.62	0.0	0.89	0.97		0.89	0.7	CGAU
AVNT	0.72	0.89	0.77	0.61	0.28	0.79	0.88	0.89		0.69	AVNT
TMC	0.37	0.67	0.73	0.71	0.45	0.63	0.72	0.7	0.69		TMC
	WDFC	BCC	FSM	HWKN	TGLS	TTAM	USAS	CGAU	AVNT	TMC

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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

CGAU	+ 0.97	USAS
CGAU	+ 0.92	FSM
AVNT	+ 0.89	BCC
USAS	+ 0.89	FSM
CGAU	+ 0.89	TTAM
AVNT	+ 0.89	CGAU

High negative correlations

TGLS	- 0.15	WDFC
CGAU	- 0.0	TGLS

Risk-Adjusted Indicators

There is a big difference between Methanex Stock performing well and Methanex 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 Methanex'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
WDFC	1.18	0.33	0.16	1.33	1.39	(1.25)	2.46	(1.68)	10.75
BCC	1.71	0.18	0.09	0.37	1.71	(1.97)	6.20	(3.06)	11.47
FSM	2.30	0.34	0.08	(1.61)	3.15	(2.48)	4.51	(3.97)	25.09
HWKN	1.84	(0.37)	0.00	(0.23)	0.00	0.00	3.29	(5.80)	14.80
TGLS	1.80	(0.34)	0.00	(0.19)	0.00	0.00	3.42	(5.16)	10.44
TTAM	1.66	0.19	0.10	0.17	1.92	(1.69)	3.58	(3.10)	9.05
USAS	4.39	1.02	0.19	0.57	4.70	(5.09)	9.55	(6.99)	33.15
CGAU	2.19	0.69	0.18	0.93	2.91	(2.43)	5.00	(4.58)	26.35
AVNT	1.42	0.21	0.13	0.20	1.35	(1.59)	3.41	(2.45)	8.87
TMC	5.44	0.09	0.02	0.09	6.41	(5.96)	13.46	(10.70)	37.07

Methanex Corporate Management

Vanessa James	Sr. VP of Global Marketing and Logistics	Profile
Karine Delbarre	Senior Logistics	Profile
Sarah Herriott	Director Relations	Profile
Mark Allard	Senior Solutions	Profile

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