PPG Industries Correlations

PPQ Stock

EUR 115.95 0.80 0.69%

The current 90-days correlation between PPG Industries and Ross Stores is 0.14 (i.e., Average diversification). The correlation of PPG Industries 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.

PPG Industries Correlation With Market

Modest diversification

The correlation between PPG Industries and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PPG Industries and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PPG Industries could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PPG Industries when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back PPG Industries - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling PPG Industries to buy it.

Moving together with PPG Stock

0.76	LIN	Linde plc	Pair Corr
0.76	LIN	Linde PLC	Pair Corr
0.68	ECJ	Ecolab Inc	Pair Corr
0.68	6D81	Dupont De Nemours	Pair Corr
0.68	DBPE	Xtrackers LevDAX	Pair Corr
0.72	E908	Lyxor 1	Pair Corr

Moving against PPG Stock

0.73

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	4D7	5TUA	EK7A	RSO	FR70	3TY	WIJ	PO6
4D7		-0.34	-0.82	0.4	-0.62	-0.59	-0.86	0.5	4D7
5TUA	-0.34		0.24	-0.04	0.35	-0.1	0.26	-0.11	5TUA
EK7A	-0.82	0.24		-0.2	0.63	0.69	0.93	-0.42	EK7A
RSO	0.4	-0.04	-0.2		-0.23	0.11	-0.21	0.11	RSO
FR70	-0.62	0.35	0.63	-0.23		0.47	0.67	0.02	FR70
3TY	-0.59	-0.1	0.69	0.11	0.47		0.74	-0.32	3TY
WIJ	-0.86	0.26	0.93	-0.21	0.67	0.74		-0.54	WIJ
PO6	0.5	-0.11	-0.42	0.11	0.02	-0.32	-0.54		PO6
	4D7	5TUA	EK7A	RSO	FR70	3TY	WIJ	PO6

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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

WIJ	+ 0.93	EK7A
WIJ	+ 0.74	3TY
3TY	+ 0.69	EK7A
WIJ	+ 0.67	FR70
FR70	+ 0.63	EK7A
PO6	+ 0.5	4D7

High negative correlations

WIJ	- 0.86	4D7
EK7A	- 0.82	4D7
FR70	- 0.62	4D7
3TY	- 0.59	4D7
PO6	- 0.54	WIJ
PO6	- 0.42	EK7A

Risk-Adjusted Indicators

There is a big difference between PPG Stock performing well and PPG 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 PPG 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
4D7	1.01	(0.12)	0.00	19.16	0.00	0.00	1.85	(2.68)	5.47
5TUA	3.17	0.52	0.10	1.47	3.25	(5.13)	10.00	(5.88)	29.08
EK7A	1.79	0.26	0.04	(0.78)	1.91	(2.42)	4.76	(4.00)	11.57
RSO	1.21	0.04	0.00	0.18	1.27	(1.41)	3.00	(2.15)	11.58
FR70	1.44	0.10	0.01	0.39	1.71	(1.70)	3.45	(2.88)	11.86
3TY	2.18	0.22	0.05	0.86	2.43	(2.93)	5.47	(3.76)	18.48
WIJ	3.19	1.07	0.24	2.18	3.04	(3.87)	7.26	(5.64)	32.86
PO6	0.97	(0.07)	0.00	(42.17)	0.00	0.00	2.07	(2.56)	7.36

Be your own money manager

Our tools can tell you how much better you can do entering a position in PPG Industries without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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PPG Industries Corporate Management

Elected by the shareholders, the PPG Industries' board of directors comprises two types of representatives: PPG Industries inside directors who are chosen from within the company, and outside directors, selected externally and held independent of PPG. The board's role is to monitor PPG Industries' management team and ensure that shareholders' interests are well served. PPG Industries' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, PPG Industries' outside directors are responsible for providing unbiased perspectives on the board's policies.

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