Sherwin Williams Correlations

SHW Stock

USD 339.74 7.54 2.27%

The current 90-days correlation between Sherwin Williams and Ecolab Inc is 0.22 (i.e., Modest 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

Very weak diversification

The correlation between Sherwin Williams Co and DJI is 0.48 (i.e., Very weak 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

0.62

NANO

Nano One Materials

Pair Corr

Moving against Sherwin Stock

0.58	ALB	Albemarle Corp	Pair Corr
0.57	600309	Wanhua Chemical Group	Pair Corr
0.55	ASH	Ashland Global Holdings	Pair Corr
0.46	MTX	Minerals Technologies	Pair Corr
0.38	603663	Sanxiang Advanced	Pair Corr
0.37	SCL	Stepan Company	Pair Corr
0.36	IOSP	Innospec	Pair Corr
0.44	301193	Ningbo Homelink Eco	Pair Corr
0.42	NGVT	Ingevity Corp	Pair Corr

Related Correlations Analysis

	ECL	CRH	AEM	NEM	APD	BHP	PPG	SCCO	FCX	RPM
ECL		0.03	0.25	-0.02	0.56	-0.23	0.46	-0.4	-0.15	0.67	ECL
CRH	0.03		0.4	0.7	-0.43	0.87	0.77	0.77	0.83	-0.09	CRH
AEM	0.25	0.4		0.8	0.07	0.45	0.39	0.4	0.53	-0.01	AEM
NEM	-0.02	0.7	0.8		-0.29	0.77	0.57	0.72	0.87	-0.31	NEM
APD	0.56	-0.43	0.07	-0.29		-0.46	0.01	-0.53	-0.46	0.53	APD
BHP	-0.23	0.87	0.45	0.77	-0.46		0.63	0.92	0.91	-0.27	BHP
PPG	0.46	0.77	0.39	0.57	0.01	0.63		0.41	0.6	0.25	PPG
SCCO	-0.4	0.77	0.4	0.72	-0.53	0.92	0.41		0.88	-0.48	SCCO
FCX	-0.15	0.83	0.53	0.87	-0.46	0.91	0.6	0.88		-0.43	FCX
RPM	0.67	-0.09	-0.01	-0.31	0.53	-0.27	0.25	-0.48	-0.43		RPM
	ECL	CRH	AEM	NEM	APD	BHP	PPG	SCCO	FCX	RPM

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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

SCCO	+ 0.92	BHP
FCX	+ 0.91	BHP
FCX	+ 0.88	SCCO
BHP	+ 0.87	CRH
FCX	+ 0.87	NEM
FCX	+ 0.83	CRH

High negative correlations

SCCO	- 0.53	APD
RPM	- 0.48	SCCO
FCX	- 0.46	APD
BHP	- 0.46	APD
RPM	- 0.43	FCX
APD	- 0.43	CRH

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	0.97	(0.08)	0.00	(0.06)	0.00	0.00	1.73	(2.42)	6.35
CRH	1.30	0.03	0.03	0.10	1.23	(1.55)	2.92	(1.97)	8.95
AEM	1.99	0.00	0.00	0.07	3.04	(1.86)	4.03	(5.41)	13.27
NEM	2.33	0.25	0.07	0.31	3.52	(2.26)	5.23	(6.23)	14.05
APD	1.22	(0.13)	0.00	(0.08)	0.00	0.00	2.50	(2.24)	18.39
BHP	1.23	0.09	0.08	0.14	1.28	(1.43)	2.44	(2.10)	6.94
PPG	1.01	(0.04)	(0.03)	0.03	1.47	(1.05)	2.16	(1.95)	8.02
SCCO	1.92	0.23	0.12	0.18	2.31	(1.92)	3.95	(4.19)	11.89
FCX	1.78	0.38	0.20	0.27	1.78	(1.93)	3.68	(3.88)	10.96
RPM	0.89	(0.21)	0.00	(0.19)	0.00	0.00	2.23	(2.25)	5.41

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