NewMarket Correlations

NEU Stock

USD 628.84 12.24 1.99%

The current 90-days correlation between NewMarket and Sociedad Quimica y is 0.26 (i.e., Modest 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

Excellent diversification

The correlation between NewMarket and DJI is -0.58 (i.e., Excellent 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.

Build AI portfolio with NewMarket Stock

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 housing.

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

Moving together with NewMarket Stock

0.74	M5S	Marna Beteiligungen	Pair Corr
0.68	UT8	Uber Technologies	Pair Corr
0.69	NANO	Nano One Materials	Pair Corr
0.73	FSI	Flexible Solutions	Pair Corr

Moving against NewMarket Stock

0.77	2CU	Chemours	Pair Corr
0.75	EMSN	EMS CHEMIE HOLDING	Pair Corr
0.73	SZ8	Sumitomo Bakelite	Pair Corr
0.71	22E	TRI CHEMICAL LABORATINC	Pair Corr
0.69	WCH	Wacker Chemie AG	Pair Corr
0.66	CE	Celanese	Pair Corr
0.65	FF	FutureFuel Corp	Pair Corr
0.65	SAO	Sasol	Pair Corr
0.56	EMB	5N PLUS	Pair Corr
0.54	SQU	Vinci S A	Pair Corr
0.48	LXS	LANXESS Aktiengesellscha	Pair Corr
0.82	PY9	Avient	Pair Corr
0.8	FMV	First Majestic Silver	Pair Corr
0.77	AFW	Align Technology	Pair Corr
0.77	ALB	Albemarle Corp Downward Rally	Pair Corr
0.76	ECL	Ecolab Inc	Pair Corr
0.74	18RA	Select Energy Services	Pair Corr
0.72	NPV	Nippon Carbon	Pair Corr
0.68	K1W	Kronos Worldwide	Pair Corr
0.68	RP8	RPM International	Pair Corr
0.56	ASH	Ashland Global Holdings	Pair Corr
0.47	SAT	SAGA PURE ASA	Pair Corr
0.46	OCT	Innospec	Pair Corr
0.81	IFF	International Flavors	Pair Corr
0.77	ESI	Element Solutions	Pair Corr
0.74	MTX	Minerals Technologies	Pair Corr
0.72	PPG	PPG Industries	Pair Corr
0.69	KWR	Quaker Chemical	Pair Corr
0.67	SY1	Symrise AG Earnings Call This Week	Pair Corr

Related Correlations Analysis

	STLD	TECK	DOW	SQM	LYB	DD	NTR	AXTA
STLD		0.86	0.91	0.41	0.86	0.89	0.86	0.74	STLD
TECK	0.86		0.92	0.7	0.89	0.94	0.94	0.85	TECK
DOW	0.91	0.92		0.57	0.97	0.93	0.88	0.78	DOW
SQM	0.41	0.7	0.57		0.53	0.51	0.7	0.77	SQM
LYB	0.86	0.89	0.97	0.53		0.92	0.85	0.72	LYB
DD	0.89	0.94	0.93	0.51	0.92		0.86	0.78	DD
NTR	0.86	0.94	0.88	0.7	0.85	0.86		0.84	NTR
AXTA	0.74	0.85	0.78	0.77	0.72	0.78	0.84		AXTA
	STLD	TECK	DOW	SQM	LYB	DD	NTR	AXTA

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
STLD	1.61	0.24	0.13	0.33	1.58	(1.69)	3.90	(2.95)	9.08
TECK	2.06	0.61	0.21	0.65	2.22	(2.29)	4.80	(4.20)	14.22
DOW	2.11	0.37	0.21	0.30	1.89	(2.54)	6.26	(3.59)	12.44
SQM	2.24	0.36	0.10	0.77	2.79	(2.36)	5.38	(4.33)	13.88
LYB	2.17	0.31	0.16	0.30	2.05	(2.51)	6.08	(3.66)	12.48
DD	1.28	0.33	0.22	0.38	1.13	(1.43)	3.82	(2.06)	10.08
NTR	1.57	0.42	0.17	1.59	1.64	(1.76)	3.39	(2.66)	12.86
AXTA	1.18	0.15	0.09	0.28	1.20	(1.28)	2.67	(2.47)	8.87

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