NewMarket Correlations

NEU Stock

USD 495.59 2.95 0.59%

The current 90-days correlation between NewMarket and H B Fuller is 0.63 (i.e., Poor 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

Average diversification

The correlation between NewMarket and DJI is 0.16 (i.e., Average 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 together with NewMarket Stock

0.65	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.61	ALB	Albemarle Corp	Pair Corr
0.68	CBT	Cabot	Pair Corr
0.62	CMT	Core Molding Technologies	Pair Corr
0.74	ESI	Element Solutions	Pair Corr
0.75	FUL	H B Fuller	Pair Corr
0.68	KOP	Koppers Holdings	Pair Corr
0.78	KWR	Quaker Chemical	Pair Corr
0.81	MTX	Minerals Technologies	Pair Corr
0.73	RPM	RPM International	Pair Corr
0.83	SCL	Stepan Company	Pair Corr
0.67	SHW	Sherwin Williams Earnings Call This Week	Pair Corr
0.83	SXT	Sensient Technologies	Pair Corr

Moving against NewMarket Stock

0.46	FEAM	5E Advanced Materials	Pair Corr
0.52	ALTO	Alto Ingredients	Pair Corr
0.49	GEVO	Gevo Inc	Pair Corr
0.42	ALTM	Arcadium Lithium plc	Pair Corr
0.31	BGLC	BioNexus Gene Lab	Pair Corr

Related Correlations Analysis

	FUL	MTX	KWR	ODC	SXT	IOSP	CBT
FUL		0.74	0.91	-0.75	0.94	0.62	0.96	FUL
MTX	0.74		0.78	-0.46	0.81	0.93	0.7	MTX
KWR	0.91	0.78		-0.75	0.91	0.72	0.93	KWR
ODC	-0.75	-0.46	-0.75		-0.67	-0.35	-0.82	ODC
SXT	0.94	0.81	0.91	-0.67		0.72	0.93	SXT
IOSP	0.62	0.93	0.72	-0.35	0.72		0.58	IOSP
CBT	0.96	0.7	0.93	-0.82	0.93	0.58		CBT
	FUL	MTX	KWR	ODC	SXT	IOSP	CBT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	+ 0.96	FUL
SXT	+ 0.94	FUL
IOSP	+ 0.93	MTX
CBT	+ 0.93	KWR
CBT	+ 0.93	SXT
KWR	+ 0.91	FUL

High negative correlations

CBT	- 0.82	ODC
ODC	- 0.75	KWR
ODC	- 0.75	FUL
SXT	- 0.67	ODC
ODC	- 0.46	MTX
IOSP	- 0.35	ODC

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	1.16	(0.35)	0.00	(0.60)	0.00	0.00	1.72	(3.00)	14.20
MTX	1.24	(0.02)	0.00	(0.05)	0.00	0.00	2.83	(2.51)	13.23
KWR	1.52	(0.27)	0.00	(1.31)	0.00	0.00	2.45	(2.92)	18.04
ODC	1.72	0.37	0.18	1.01	1.67	(1.92)	3.99	(2.51)	22.38
SXT	1.07	(0.09)	0.00	(0.16)	0.00	0.00	1.92	(2.33)	10.90
IOSP	1.20	0.01	0.01	0.02	1.53	(1.18)	2.24	(2.20)	16.32
CBT	1.34	(0.32)	0.00	(1.58)	0.00	0.00	2.55	(2.70)	12.59

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC