NL Industries Correlations

NL Stock

USD 8.11 0.08 1.00%

The current 90-days correlation between NL Industries and Park Electrochemical is 0.58 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NL Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NL Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NL Industries Correlation With Market

Very weak diversification

The correlation between NL Industries and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NL Industries 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 NL Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy NL Industries Stock please use our How to buy in NL Industries Stock guide.

Moving together with NL Industries Stock

0.71	BV	BrightView Holdings	Pair Corr
0.65	CIX	CompX International	Pair Corr
0.67	IIIV	i3 Verticals	Pair Corr
0.91	B	Barnes Group	Pair Corr
0.9	J	Jacobs Solutions	Pair Corr
0.73	R	Ryder System	Pair Corr
0.68	DIST	Distoken Acquisition	Pair Corr
0.78	AZ	A2Z Smart Technologies	Pair Corr
0.89	BW	Babcock Wilcox Enter	Pair Corr
0.65	CR	Crane Company	Pair Corr
0.91	CW	Curtiss Wright	Pair Corr
0.64	DE	Deere Company Fiscal Year End 27th of November 2024	Pair Corr
0.72	EH	Ehang Holdings	Pair Corr

Moving against NL Industries Stock

0.89	WHLM	Wilhelmina	Pair Corr
0.76	MLKN	MillerKnoll	Pair Corr
0.64	RTO	Rentokil Initial PLC	Pair Corr
0.44	CVEO	Civeo Corp	Pair Corr
0.41	AP	Ampco Pittsburgh	Pair Corr
0.36	ACU	Acme United	Pair Corr
0.81	RR	Richtech Robotics Class	Pair Corr
0.7	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.68	TH	Target Hospitality Corp	Pair Corr
0.67	CP	Canadian Pacific Railway	Pair Corr
0.61	SB	Safe Bulkers Potential Growth	Pair Corr
0.36	MG	Mistras Group	Pair Corr

Related Correlations Analysis

	PKE	ISSC	CW	NPK	DCO	ATRO	CDRE	MRCY	HXL	VVX
PKE		0.88	0.79	0.48	0.34	-0.61	-0.39	0.4	0.12	0.65	PKE
ISSC	0.88		0.7	0.31	0.15	-0.56	-0.44	0.3	-0.01	0.67	ISSC
CW	0.79	0.7		0.13	0.34	-0.57	-0.04	0.34	-0.06	0.89	CW
NPK	0.48	0.31	0.13		0.53	-0.1	-0.51	0.53	0.38	-0.02	NPK
DCO	0.34	0.15	0.34	0.53		-0.06	-0.14	0.8	0.17	0.17	DCO
ATRO	-0.61	-0.56	-0.57	-0.1	-0.06		0.57	-0.24	0.4	-0.3	ATRO
CDRE	-0.39	-0.44	-0.04	-0.51	-0.14	0.57		-0.43	0.24	0.18	CDRE
MRCY	0.4	0.3	0.34	0.53	0.8	-0.24	-0.43		-0.02	0.14	MRCY
HXL	0.12	-0.01	-0.06	0.38	0.17	0.4	0.24	-0.02		0.13	HXL
VVX	0.65	0.67	0.89	-0.02	0.17	-0.3	0.18	0.14	0.13		VVX
	PKE	ISSC	CW	NPK	DCO	ATRO	CDRE	MRCY	HXL	VVX

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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

VVX	+ 0.89	CW
ISSC	+ 0.88	PKE
MRCY	+ 0.8	DCO
CW	+ 0.79	PKE
CW	+ 0.7	ISSC
VVX	+ 0.67	ISSC

High negative correlations

ATRO	- 0.61	PKE
ATRO	- 0.57	CW
ATRO	- 0.56	ISSC
CDRE	- 0.51	NPK
CDRE	- 0.44	ISSC
MRCY	- 0.43	CDRE

Risk-Adjusted Indicators

There is a big difference between NL Industries Stock performing well and NL Industries 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 NL Industries' 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
PKE	1.31	0.01	0.09	0.13	0.95	(1.76)	3.51	(1.98)	12.34
ISSC	1.36	0.09	0.03	0.27	1.53	(1.50)	3.28	(3.31)	9.31
CW	1.25	0.13	0.10	0.21	1.70	(1.43)	2.96	(2.48)	11.02
NPK	1.16	(0.05)	(0.01)	0.08	1.37	(1.24)	2.43	(2.44)	8.03
DCO	1.28	(0.15)	(0.04)	0.03	1.53	(1.37)	2.90	(2.30)	8.32
ATRO	2.17	(0.46)	0.00	(0.07)	0.00	0.00	4.07	(6.69)	22.57
CDRE	1.66	(0.26)	0.00	(0.03)	0.00	0.00	3.06	(4.24)	13.54
MRCY	1.75	(0.17)	0.04	0.06	1.70	(2.26)	2.83	(3.14)	29.10
HXL	1.15	(0.22)	0.00	(0.03)	0.00	0.00	2.00	(2.66)	6.19
VVX	1.87	(0.10)	0.02	0.08	2.91	(1.89)	3.85	(3.74)	20.17

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