NewMarket Correlations

NEU Stock

USD 535.67 0.00 0.00%

The current 90-days correlation between NewMarket and H B Fuller is 0.58 (i.e., Very weak diversification). The correlation of NewMarket 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.

NewMarket Correlation With Market

Poor diversification

The correlation between NewMarket and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NewMarket and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NewMarket. 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.

For more information on how to buy NewMarket Stock please use our How to Invest in NewMarket guide.

Moving against NewMarket Stock

0.62	APD	Air Products	Pair Corr
0.41	ALB	Albemarle Corp	Pair Corr
0.41	EMN	Eastman Chemical	Pair Corr
0.4	ALB-PA	Albemarle	Pair Corr
0.36	CBT	Cabot	Pair Corr
0.34	ECL	Ecolab Inc	Pair Corr
0.52	SQM	Sociedad Quimica y	Pair Corr
0.48	RPM	RPM International	Pair Corr
0.43	PRM	Perimeter Solutions	Pair Corr
0.69	GEVO	Gevo Inc	Pair Corr
0.58	TSE	Trinseo SA	Pair Corr

Related Correlations Analysis

	FUL	MTX	KWR	ODC	SXT	IOSP	CBT
FUL		-0.37	0.48	-0.17	-0.11	0.01	-0.33	FUL
MTX	-0.37		0.36	0.7	0.69	0.84	0.67	MTX
KWR	0.48	0.36		0.38	0.43	0.74	0.19	KWR
ODC	-0.17	0.7	0.38		0.74	0.64	0.7	ODC
SXT	-0.11	0.69	0.43	0.74		0.69	0.86	SXT
IOSP	0.01	0.84	0.74	0.64	0.69		0.55	IOSP
CBT	-0.33	0.67	0.19	0.7	0.86	0.55		CBT
	FUL	MTX	KWR	ODC	SXT	IOSP	CBT

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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

CBT	+ 0.86	SXT
IOSP	+ 0.84	MTX
IOSP	+ 0.74	KWR
SXT	+ 0.74	ODC
ODC	+ 0.7	MTX
CBT	+ 0.7	ODC

High negative correlations

MTX	- 0.37	FUL
CBT	- 0.33	FUL
ODC	- 0.17	FUL
SXT	- 0.11	FUL

Risk-Adjusted Indicators

There is a big difference between NewMarket Stock performing well and NewMarket 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 NewMarket'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
FUL	1.04	(0.23)	0.00	(0.07)	0.00	0.00	1.79	(2.51)	8.58
MTX	1.28	(0.04)	0.03	0.07	1.32	(1.45)	2.46	(2.51)	11.90
KWR	1.50	(0.15)	(0.02)	0.02	1.84	(1.55)	2.37	(2.62)	18.04
ODC	1.32	(0.01)	0.00	0.08	1.62	(1.34)	3.14	(2.09)	12.06
SXT	1.06	(0.05)	0.00	0.06	1.24	(1.09)	2.28	(2.19)	8.84
IOSP	1.27	(0.05)	0.04	0.06	1.30	(1.41)	2.24	(2.10)	16.32
CBT	1.25	(0.01)	0.03	0.08	1.28	(1.39)	2.82	(1.75)	10.88

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