Ingevity Corp Correlations

The current 90-days correlation between Ingevity Corp and Chemours Co is 0.55 (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

Very weak diversification

The correlation between Ingevity Corp and DJI is 0.43 (i.e., Very weak 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. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Ingevity Stock

0.74	WCH	Wacker Chemie AG	Pair Corr
0.66	CE	Celanese Downward Rally	Pair Corr
0.65	FF	FutureFuel Corp	Pair Corr
0.73	EMSN	EMS CHEMIE HOLDING	Pair Corr
0.66	EMB	5N PLUS	Pair Corr
0.69	2CU	Chemours	Pair Corr
0.7	22E	TRI CHEMICAL LABORATINC	Pair Corr
0.67	SAO	Sasol	Pair Corr
0.63	K1W	Kronos Worldwide	Pair Corr
0.7	PY9	Avient	Pair Corr
0.63	RP8	RPM International	Pair Corr
0.7	NPV	Nippon Carbon	Pair Corr
0.81	ALB	Albemarle Corp	Pair Corr
0.78	ASH	Ashland Global Holdings	Pair Corr
0.87	ECL	Ecolab Inc	Pair Corr
0.82	ESI	Element Solutions	Pair Corr
0.82	FUL	H B Fuller	Pair Corr
0.65	AP3	Air Products	Pair Corr
0.84	IFF	International Flavors	Pair Corr

Moving against Ingevity Stock

0.76	M5S	Marna Beteiligungen	Pair Corr
0.7	UT8	Uber Technologies	Pair Corr
0.64	4QT1	HEXPOL AB	Pair Corr
0.56	NANO	Nano One Materials	Pair Corr
0.53	7YC	Synthomer plc	Pair Corr
0.4	GIN1	Givaudan SA	Pair Corr
0.75	NEU	NewMarket	Pair Corr
0.68	FSI	Flexible Solutions	Pair Corr

Related Correlations Analysis

	CC	IOSP	ASH	MTX	OLN	AAUC	SKE	FMC	ELVR	KWR
CC		0.5	0.63	0.68	0.91	0.86	0.52	0.53	0.11	0.94	CC
IOSP	0.5		0.44	0.92	0.52	0.45	0.82	0.51	0.56	0.79	IOSP
ASH	0.63	0.44		0.6	0.74	0.75	0.51	0.62	0.48	0.71	ASH
MTX	0.68	0.92	0.6		0.68	0.65	0.91	0.57	0.61	0.87	MTX
OLN	0.91	0.52	0.74	0.68		0.79	0.49	0.64	0.29	0.89	OLN
AAUC	0.86	0.45	0.75	0.65	0.79		0.59	0.7	0.26	0.87	AAUC
SKE	0.52	0.82	0.51	0.91	0.49	0.59		0.56	0.62	0.71	SKE
FMC	0.53	0.51	0.62	0.57	0.64	0.7	0.56		0.61	0.56	FMC
ELVR	0.11	0.56	0.48	0.61	0.29	0.26	0.62	0.61		0.36	ELVR
KWR	0.94	0.79	0.71	0.87	0.89	0.87	0.71	0.56	0.36		KWR
	CC	IOSP	ASH	MTX	OLN	AAUC	SKE	FMC	ELVR	KWR

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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	2.89	0.49	0.12	0.40	3.97	(3.18)	6.09	(3.94)	25.71
IOSP	1.08	0.17	0.05	41.44	1.29	(1.13)	2.71	(2.12)	9.18
ASH	1.61	0.22	0.12	0.39	1.42	(1.89)	4.06	(2.72)	13.74
MTX	1.18	0.32	0.18	(2.93)	0.89	(1.40)	3.34	(1.74)	6.62
OLN	2.82	0.03	0.05	0.11	3.12	(3.19)	5.94	(5.11)	18.93
AAUC	1.68	0.63	0.26	1.09	1.59	(1.95)	4.48	(1.95)	14.78
SKE	3.08	1.23	0.21	(1.11)	3.75	(3.42)	7.44	(6.49)	23.05
FMC	2.29	(0.18)	(0.01)	0.01	4.42	(2.41)	4.74	(5.71)	25.40
ELVR	4.39	0.91	0.13	(1.49)	5.01	(4.80)	9.14	(7.40)	31.67
KWR	1.76	0.09	0.03	0.21	2.29	(1.89)	3.44	(3.39)	12.82

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