Ingevity Corp Correlations

NGVT Stock

USD 62.87 2.01 3.30%

The current 90-days correlation between Ingevity Corp and Chemours Co is 0.51 (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 0.41 (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, 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 signals in services.

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

Moving together with Ingevity Stock

0.75	CE	Celanese	Pair Corr
0.65	ASH	Ashland Global Holdings	Pair Corr
0.86	FUL	H B Fuller	Pair Corr
0.79	MTX	Minerals Technologies	Pair Corr
0.82	PPG	PPG Industries	Pair Corr
0.82	SCL	Stepan Company	Pair Corr
0.81	IOSP	Innospec	Pair Corr
0.76	SYNT	Synthomer plc	Pair Corr

Moving against Ingevity Stock

0.7	600691	Yangmei Chemical	Pair Corr
0.63	NANO	Nano One Materials	Pair Corr
0.48	688363	Bloomage Biotechnology	Pair Corr
0.43	300919	Cngr Advanced Material	Pair Corr
0.41	300073	Beijing Easpring Material	Pair Corr
0.76	688021	Aofu Environmental	Pair Corr
0.72	300261	Aba Chemicals Corp	Pair Corr
0.57	603826	Fujian Kuncai Material	Pair Corr
0.56	603260	Hoshine Silicon Ind	Pair Corr
0.55	LWLG	Lightwave Logic	Pair Corr
0.55	600985	Huaibei Mining Holdings	Pair Corr
0.48	688398	Fujian SuperTech Advanced	Pair Corr
0.47	002054	Dymatic Chemicals	Pair Corr
0.41	001217	Anhui Huaertai Chemical	Pair Corr
0.37	300481	Puyang Huicheng Elec	Pair Corr
0.33	SEVT	Summit Environmental	Pair Corr

Related Correlations Analysis

	CC	IOSP	ASH	MTX	OLN	AAUC	SKE	FMC	ELVR	KWR
CC		0.11	-0.22	0.12	0.81	-0.03	-0.2	0.74	-0.38	-0.19	CC
IOSP	0.11		0.8	0.8	0.24	0.82	0.8	-0.17	0.72	0.59	IOSP
ASH	-0.22	0.8		0.68	-0.08	0.9	0.91	-0.52	0.89	0.6	ASH
MTX	0.12	0.8	0.68		0.46	0.8	0.78	0.0	0.72	0.4	MTX
OLN	0.81	0.24	-0.08	0.46		0.19	0.05	0.8	-0.14	-0.18	OLN
AAUC	-0.03	0.82	0.9	0.8	0.19		0.95	-0.25	0.88	0.54	AAUC
SKE	-0.2	0.8	0.91	0.78	0.05	0.95		-0.4	0.92	0.51	SKE
FMC	0.74	-0.17	-0.52	0.0	0.8	-0.25	-0.4		-0.55	-0.43	FMC
ELVR	-0.38	0.72	0.89	0.72	-0.14	0.88	0.92	-0.55		0.53	ELVR
KWR	-0.19	0.59	0.6	0.4	-0.18	0.54	0.51	-0.43	0.53		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	+ 0.95	AAUC
ELVR	+ 0.92	SKE
SKE	+ 0.91	ASH
AAUC	+ 0.9	ASH
ELVR	+ 0.89	ASH
ELVR	+ 0.88	AAUC

High negative correlations

ELVR	- 0.55	FMC
FMC	- 0.52	ASH
KWR	- 0.43	FMC
FMC	- 0.4	SKE
ELVR	- 0.38	CC
FMC	- 0.25	AAUC

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	2.81	(0.39)	0.00	(0.04)	0.00	0.00	5.44	(6.22)	16.17
IOSP	1.05	(0.06)	(0.04)	0.02	1.36	(1.05)	2.56	(2.37)	7.02
ASH	1.54	0.34	0.20	0.52	1.18	(1.75)	4.54	(2.17)	13.17
MTX	1.27	(0.04)	(0.02)	0.05	1.59	(1.25)	2.73	(2.66)	7.32
OLN	2.38	(0.34)	0.00	(0.07)	0.00	0.00	5.79	(4.71)	19.65
AAUC	3.00	0.36	0.09	0.27	4.11	(2.94)	7.36	(6.15)	20.85
SKE	2.90	0.47	0.11	0.50	3.75	(3.06)	6.44	(6.42)	25.06
FMC	2.91	(1.02)	0.00	(0.44)	0.00	0.00	4.71	(5.71)	49.48
ELVR	4.61	1.10	0.26	0.67	3.79	(5.46)	10.09	(8.06)	21.28
KWR	1.84	0.05	0.02	0.14	1.83	(2.23)	4.49	(3.24)	14.63

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