Sherwin Williams Correlations

SHW Stock

USD 368.89 3.71 1.00%

The current 90-days correlation between Sherwin Williams and Ecolab Inc is 0.57 (i.e., Very weak diversification). The correlation of Sherwin Williams 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.

Sherwin Williams Correlation With Market

Poor diversification

The correlation between Sherwin Williams Co and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sherwin Williams Co and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sherwin Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sherwin Williams Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Sherwin Stock

0.68	WCH	Wacker Chemie AG	Pair Corr
0.8	CE	Celanese Earnings Call This Week	Pair Corr
0.67	FF	FutureFuel Corp	Pair Corr
0.86	EMSN	EMS CHEMIE HOLDING	Pair Corr
0.76	EMB	5N PLUS	Pair Corr
0.86	2CU	Chemours Earnings Call This Week	Pair Corr
0.79	22E	TRI CHEMICAL LABORATINC	Pair Corr
0.79	K1W	Kronos Worldwide	Pair Corr
0.65	FMV	First Majestic Silver Earnings Call This Week	Pair Corr
0.72	18RA	Select Energy Services Earnings Call This Week	Pair Corr
0.84	PY9	Avient	Pair Corr
0.76	RP8	RPM International	Pair Corr
0.84	NPV	Nippon Carbon	Pair Corr
0.73	OCT	Innospec Earnings Call This Week	Pair Corr
0.88	ECL	Ecolab Inc	Pair Corr
0.86	ESI	Element Solutions	Pair Corr
0.69	FUL	H B Fuller	Pair Corr
0.79	AP3	Air Products	Pair Corr
0.83	IFF	International Flavors	Pair Corr

Moving against Sherwin Stock

0.82	M5S	Marna Beteiligungen	Pair Corr
0.56	UT8	Uber Technologies	Pair Corr
0.53	4QT1	HEXPOL AB	Pair Corr
0.44	NANO	Nano One Materials	Pair Corr
0.34	GIN1	Givaudan SA	Pair Corr
0.64	FSI	Flexible Solutions	Pair Corr
0.49	NEU	NewMarket	Pair Corr

Related Correlations Analysis

	ECL	CRH	AEM	NEM	APD	BHP	PPG	SCCO	FCX	RPM
ECL		0.33	0.84	0.79	0.85	0.83	0.92	0.86	0.8	0.86	ECL
CRH	0.33		0.4	0.58	0.06	0.57	0.49	0.49	0.62	0.33	CRH
AEM	0.84	0.4		0.96	0.65	0.88	0.81	0.92	0.91	0.71	AEM
NEM	0.79	0.58	0.96		0.54	0.93	0.82	0.94	0.97	0.67	NEM
APD	0.85	0.06	0.65	0.54		0.66	0.79	0.72	0.61	0.86	APD
BHP	0.83	0.57	0.88	0.93	0.66		0.93	0.97	0.96	0.75	BHP
PPG	0.92	0.49	0.81	0.82	0.79	0.93		0.92	0.87	0.89	PPG
SCCO	0.86	0.49	0.92	0.94	0.72	0.97	0.92		0.96	0.78	SCCO
FCX	0.8	0.62	0.91	0.97	0.61	0.96	0.87	0.96		0.69	FCX
RPM	0.86	0.33	0.71	0.67	0.86	0.75	0.89	0.78	0.69		RPM
	ECL	CRH	AEM	NEM	APD	BHP	PPG	SCCO	FCX	RPM

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Risk-Adjusted Indicators

There is a big difference between Sherwin Stock performing well and Sherwin Williams 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 Sherwin Williams' 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
ECL	0.89	0.18	0.16	0.33	0.69	(0.98)	2.28	(1.47)	4.92
CRH	1.58	0.08	0.06	0.12	1.80	(1.76)	3.35	(3.05)	10.55
AEM	2.11	0.35	0.10	0.34	3.11	(2.06)	4.31	(5.41)	17.48
NEM	2.34	0.49	0.14	0.35	3.17	(2.54)	5.48	(5.64)	17.21
APD	1.31	0.09	0.04	0.17	2.14	(1.35)	2.58	(2.41)	11.95
BHP	1.53	0.37	0.20	0.52	1.54	(1.73)	3.84	(2.42)	9.15
PPG	1.06	0.42	0.41	0.51	0.47	(1.31)	3.24	(1.56)	6.59
SCCO	2.42	0.53	0.15	0.43	2.95	(2.41)	4.92	(4.20)	20.79
FCX	2.04	0.60	0.20	0.54	2.32	(2.13)	4.25	(4.27)	12.29
RPM	1.14	0.09	0.07	0.15	1.08	(1.25)	3.25	(2.22)	6.87

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