Oil Dri Correlations

ODC Stock

USD 63.69 0.83 1.32%

The current 90-days correlation between Oil Dri and Green Plains Renewable is 0.15 (i.e., Average diversification). The correlation of Oil Dri 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.

Oil Dri Correlation With Market

Very weak diversification

The correlation between Oil Dri 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 Oil Dri and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Oil Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Oil Dri. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

For information on how to trade Oil Stock refer to our How to Trade Oil Stock guide.

Moving together with Oil Stock

0.91	CL	Colgate Palmolive	Pair Corr
0.94	PG	Procter Gamble	Pair Corr
0.62	RKT	Reckitt Benckiser Split	Pair Corr
0.86	WDFC	WD 40 Company	Pair Corr
0.71	CENTA	Central Garden Pet	Pair Corr
0.89	CHD	Church Dwight Sell-off Trend	Pair Corr
0.91	CLX	Clorox	Pair Corr
0.61	ENR	Energizer Holdings	Pair Corr
0.75	SPB	Spectrum Brands Holdings	Pair Corr
0.72	CENT	Central Garden Pet	Pair Corr
0.75	EC	Ecopetrol SA ADR	Pair Corr
0.7	RILYP	B Riley Financial	Pair Corr
0.86	O	Realty Income Earnings Call This Week	Pair Corr
0.7	TOELF	Tokyo Electron	Pair Corr
0.62	TGT	Target	Pair Corr

Moving against Oil Stock

0.54	PTL	Prestal Holdings Earnings Call This Week	Pair Corr
0.4	CABR	Caring Brands Common	Pair Corr
0.45	PTAIF	PT Astra International	Pair Corr
0.45	PBCRF	PT Bank Central	Pair Corr
0.34	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.63	172967KN0	CITIGROUP INC 34	Pair Corr
0.45	AAL	American Airlines	Pair Corr

Related Correlations Analysis

	GPRE	WLKP	KRO	SCL	CMP	LWLG	SLI	IAUX	ASPI	NEXA
GPRE		0.84	0.94	0.93	0.66	-0.25	-0.13	0.79	-0.15	0.73	GPRE
WLKP	0.84		0.91	0.92	0.88	-0.29	0.24	0.89	0.01	0.91	WLKP
KRO	0.94	0.91		0.94	0.71	-0.22	-0.02	0.81	-0.15	0.75	KRO
SCL	0.93	0.92	0.94		0.74	-0.45	0.01	0.89	-0.24	0.79	SCL
CMP	0.66	0.88	0.71	0.74		-0.25	0.45	0.81	0.23	0.93	CMP
LWLG	-0.25	-0.29	-0.22	-0.45	-0.25		-0.1	-0.54	0.58	-0.31	LWLG
SLI	-0.13	0.24	-0.02	0.01	0.45	-0.1		0.36	0.37	0.43	SLI
IAUX	0.79	0.89	0.81	0.89	0.81	-0.54	0.36		-0.12	0.89	IAUX
ASPI	-0.15	0.01	-0.15	-0.24	0.23	0.58	0.37	-0.12		0.2	ASPI
NEXA	0.73	0.91	0.75	0.79	0.93	-0.31	0.43	0.89	0.2		NEXA
	GPRE	WLKP	KRO	SCL	CMP	LWLG	SLI	IAUX	ASPI	NEXA

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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

KRO	+ 0.94	GPRE
SCL	+ 0.94	KRO
SCL	+ 0.93	GPRE
NEXA	+ 0.93	CMP
SCL	+ 0.92	WLKP
KRO	+ 0.91	WLKP

High negative correlations

IAUX	- 0.54	LWLG
LWLG	- 0.45	SCL
NEXA	- 0.31	LWLG
LWLG	- 0.29	WLKP
LWLG	- 0.25	CMP
LWLG	- 0.25	GPRE

Risk-Adjusted Indicators

There is a big difference between Oil Stock performing well and Oil Dri 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 Oil Dri'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
GPRE	2.64	0.52	0.17	0.46	2.82	(2.94)	5.84	(4.21)	19.59
WLKP	1.03	0.19	0.14	0.36	0.95	(1.20)	2.19	(1.87)	5.80
KRO	2.86	0.26	0.13	0.17	2.64	(3.60)	6.07	(4.70)	13.75
SCL	1.22	0.58	0.41	0.62	0.76	(1.53)	3.48	(1.94)	10.04
CMP	2.83	0.34	0.09	0.25	4.16	(3.01)	5.66	(4.23)	23.55
LWLG	4.10	(0.53)	0.00	(0.14)	0.00	0.00	9.30	(9.16)	26.51
SLI	3.68	0.48	0.09	0.55	4.81	(3.66)	7.27	(7.84)	24.43
IAUX	3.10	0.93	0.20	0.69	3.69	(3.72)	7.34	(6.73)	21.04
ASPI	4.82	(0.70)	0.00	(0.15)	0.00	0.00	11.49	(10.73)	29.05
NEXA	3.38	0.87	0.23	0.61	3.44	(3.84)	7.45	(6.54)	18.98

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