Ingevity Corp Correlations

NGVT Stock

USD 65.79 0.13 0.20%

The current 90-days correlation between Ingevity Corp and Chemours Co is 0.53 (i.e., Very weak diversification). The correlation of Ingevity Corp 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.

Ingevity Corp Correlation With Market

Almost no diversification

The correlation between Ingevity Corp and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ingevity Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ingevity Stock

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

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

Moving together with Ingevity Stock

0.89	KWR	Quaker Chemical	Pair Corr
0.93	MTX	Minerals Technologies	Pair Corr
0.91	MNK	Minerals Technologies	Pair Corr
0.64	DLY	LyondellBasell Industries	Pair Corr
0.86	EAC	Eastman Chemical	Pair Corr
0.74	NTIC	Northern Technologies	Pair Corr
0.81	QUC	Quaker Chemical	Pair Corr
0.9	UEO	Westlake Chemical	Pair Corr
0.9	XSI	Sanyo Chemical Industries	Pair Corr
0.8	ATCOL	Atlas Corp	Pair Corr
0.75	WF	Woori Financial Group	Pair Corr
0.8	BCH	Banco De Chile Earnings Call This Week	Pair Corr
0.89	CUEN	Cuentas	Pair Corr
0.65	BKD	Brookdale Senior Living	Pair Corr
0.88	PAA	Plains All American	Pair Corr

Moving against Ingevity Stock

0.83	NANO	Nano One Materials	Pair Corr
0.75	ADVWW	Advantage Solutions	Pair Corr
0.65	UT8	Uber Technologies Earnings Call This Week	Pair Corr
0.52	J9I0	5E ADVANCED MATERIALS	Pair Corr
0.88	GCMGW	GCM Grosvenor	Pair Corr
0.83	FNMFO	Federal National Mortgage	Pair Corr
0.66	MAPSW	WM Technology	Pair Corr
0.58	ENGGF	Enags SA	Pair Corr

Related Correlations Analysis

	CC	IOSP	ASH	MTX	OLN	AAUC	SKE	FMC	ELVR	KWR
CC		0.68	0.59	0.74	0.86	0.73	0.67	0.39	0.59	0.81	CC
IOSP	0.68		0.92	0.91	0.78	0.9	0.87	0.03	0.86	0.9	IOSP
ASH	0.59	0.92		0.89	0.77	0.91	0.9	-0.1	0.9	0.8	ASH
MTX	0.74	0.91	0.89		0.82	0.93	0.93	-0.03	0.94	0.92	MTX
OLN	0.86	0.78	0.77	0.82		0.77	0.73	0.35	0.75	0.79	OLN
AAUC	0.73	0.9	0.91	0.93	0.77		0.98	0.01	0.88	0.85	AAUC
SKE	0.67	0.87	0.9	0.93	0.73	0.98		-0.08	0.88	0.82	SKE
FMC	0.39	0.03	-0.1	-0.03	0.35	0.01	-0.08		-0.13	0.03	FMC
ELVR	0.59	0.86	0.9	0.94	0.75	0.88	0.88	-0.13		0.83	ELVR
KWR	0.81	0.9	0.8	0.92	0.79	0.85	0.82	0.03	0.83		KWR
	CC	IOSP	ASH	MTX	OLN	AAUC	SKE	FMC	ELVR	KWR

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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

SKE	+ 0.98	AAUC
ELVR	+ 0.94	MTX
AAUC	+ 0.93	MTX
SKE	+ 0.93	MTX
ASH	+ 0.92	IOSP
KWR	+ 0.92	MTX

High negative correlations

ELVR	- 0.13	FMC
FMC	- 0.1	ASH
FMC	- 0.08	SKE
FMC	- 0.03	MTX

Risk-Adjusted Indicators

There is a big difference between Ingevity Stock performing well and Ingevity Corp 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 Ingevity Corp'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
CC	2.46	0.06	0.04	0.06	2.79	(2.87)	5.97	(4.61)	16.17
IOSP	1.06	0.11	0.09	0.15	1.07	(1.14)	2.71	(2.12)	7.38
ASH	1.61	0.28	0.17	0.37	1.33	(1.90)	4.54	(2.64)	13.67
MTX	1.13	0.19	0.15	0.22	1.02	(1.26)	3.06	(1.76)	5.23
OLN	2.41	(0.23)	0.00	(0.08)	0.00	0.00	5.72	(4.71)	12.44
AAUC	2.40	0.89	0.23	0.57	3.02	(2.70)	6.21	(4.32)	17.83
SKE	2.69	0.90	0.23	1.07	3.03	(3.03)	6.44	(4.49)	15.83
FMC	2.74	(0.79)	0.00	(0.41)	0.00	0.00	4.71	(5.71)	46.52
ELVR	4.54	1.03	0.19	2.16	4.74	(5.22)	9.90	(6.81)	31.67
KWR	2.06	0.17	0.10	0.11	2.03	(2.52)	4.98	(3.63)	15.37

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