Solstice Advanced Correlations

SOLS Stock

USD 64.39 2.62 4.24%

The current 90-days correlation between Solstice Advanced and Affiliated Managers Group is -0.06 (i.e., Good diversification). The correlation of Solstice Advanced 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.

Solstice Advanced Correlation With Market

Poor diversification

The correlation between Solstice Advanced Materials and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Solstice Advanced Materials and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Solstice Stock

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

Moving together with Solstice Stock

0.95	WLKP	Westlake Chemical	Pair Corr
0.75	BAK	Braskem SA Class	Pair Corr
0.87	WLK	Westlake Chemical	Pair Corr
0.78	SEH	Shin Etsu Chemical	Pair Corr
0.84	RYQ	Rayonier Advanced	Pair Corr
0.87	MX	Methanex	Pair Corr
0.78	CHE-UN	Chemtrade Logistics	Pair Corr
0.94	TROX	Tronox Holdings PLC	Pair Corr
0.67	ATCOL	Atlas Corp	Pair Corr
0.73	MYRLF	Meryllion Resources Corp	Pair Corr
0.68	ANPMF	Andean Precious Metals	Pair Corr
0.72	OKE	ONEOK Inc	Pair Corr
0.74	BANC	Banc of California	Pair Corr
0.83	VEMLY	Venture	Pair Corr
0.76	ICE	Intercontinental Exchange Earnings Call This Week	Pair Corr
0.68	CLPMF	Clip Money	Pair Corr

Moving against Solstice Stock

0.56	5EA	5E Advanced Materials	Pair Corr
0.55	TSE	Trinseo SA	Pair Corr
0.42	TANH	Tantech Holdings	Pair Corr
0.81	ADVWW	Advantage Solutions	Pair Corr
0.72	GCMGW	GCM Grosvenor	Pair Corr
0.64	MAPSW	WM Technology	Pair Corr
0.42	TXTM	Protext Mobility	Pair Corr

Related Correlations Analysis

	AMG	ATCO	JHG	HLNE	PSEC	OTF	STEP	FCFS	VOYA	CBSH
AMG		0.0	0.89	0.93	0.64	0.48	0.7	0.48	0.75	0.82	AMG
ATCO	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ATCO
JHG	0.89	0.0		0.86	0.5	0.53	0.76	0.59	0.88	0.78	JHG
HLNE	0.93	0.0	0.86		0.66	0.41	0.69	0.46	0.76	0.81	HLNE
PSEC	0.64	0.0	0.5	0.66		0.13	0.66	0.49	0.38	0.39	PSEC
OTF	0.48	0.0	0.53	0.41	0.13		0.41	0.31	0.49	0.63	OTF
STEP	0.7	0.0	0.76	0.69	0.66	0.41		0.84	0.75	0.54	STEP
FCFS	0.48	0.0	0.59	0.46	0.49	0.31	0.84		0.66	0.39	FCFS
VOYA	0.75	0.0	0.88	0.76	0.38	0.49	0.75	0.66		0.75	VOYA
CBSH	0.82	0.0	0.78	0.81	0.39	0.63	0.54	0.39	0.75		CBSH
	AMG	ATCO	JHG	HLNE	PSEC	OTF	STEP	FCFS	VOYA	CBSH

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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

HLNE	+ 0.93	AMG
JHG	+ 0.89	AMG
VOYA	+ 0.88	JHG
HLNE	+ 0.86	JHG
FCFS	+ 0.84	STEP
CBSH	+ 0.82	AMG

High negative correlations

CBSH	- 0.0	ATCO
VOYA	- 0.0	ATCO
FCFS	- 0.0	ATCO
STEP	- 0.0	ATCO
OTF	- 0.0	ATCO
PSEC	- 0.0	ATCO

Risk-Adjusted Indicators

There is a big difference between Solstice Stock performing well and Solstice Advanced 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 Solstice Advanced'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
AMG	1.33	0.40	0.27	18.03	0.95	(1.57)	3.07	(2.20)	10.78
ATCO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JHG	0.73	0.05	0.02	0.21	1.02	(0.80)	1.57	(2.12)	4.84
HLNE	1.58	0.23	0.14	0.22	1.54	(1.76)	3.12	(3.27)	10.57
PSEC	1.53	0.06	0.02	0.12	1.67	(1.78)	4.67	(3.18)	11.08
OTF	1.28	(0.08)	0.00	(0.19)	0.00	0.00	2.48	(2.35)	7.65
STEP	1.52	0.17	0.10	0.16	1.54	(1.63)	3.30	(2.80)	7.04
FCFS	1.14	0.07	0.03	0.12	1.71	(1.14)	2.22	(2.65)	7.55
VOYA	1.17	0.05	0.03	0.10	1.44	(1.27)	2.25	(1.78)	8.14
CBSH	0.97	0.05	0.03	0.11	1.19	(1.10)	2.40	(2.03)	6.30

Solstice Advanced Corporate Management

CFA Leithead	VP Relations	Profile
Chele Rider	Head Relations	Profile
Simon Mawson	Senior Materials	Profile
Donald Beavers	CEO and President	Profile
Matt Helmintoller	VP Marketing	Profile

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