Solstice Advanced Correlations

SOLS Stock

USD 48.62 0.04 0.08%

The current 90-days correlation between Solstice Advanced and Affiliated Managers Group is 0.2 (i.e., Modest 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

Average diversification

The correlation between Solstice Advanced Materials and DJI is 0.19 (i.e., Average 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 board of governors.

Moving together with Solstice Stock

0.63	300478	Hangzhou Gaoxin Rubber	Pair Corr
0.62	300221	Guangdong Silvere Sci	Pair Corr
0.8	002497	Sichuan Yahua Industrial	Pair Corr
0.72	000635	Ningxia Younglight	Pair Corr
0.61	002768	Qingdao Gon Technology	Pair Corr
0.66	600346	Hengli Petrochemical	Pair Corr

Moving against Solstice Stock

0.85	OEC	Orion Engineered Carbons	Pair Corr
0.77	VVV	Valvoline	Pair Corr
0.75	OLN	Olin	Pair Corr
0.75	PCT	Purecycle Technologies	Pair Corr
0.75	HWKN	Hawkins	Pair Corr
0.59	CBT	Cabot	Pair Corr
0.51	300796	Bsm Chemical	Pair Corr
0.51	LYB	LyondellBasell Industries	Pair Corr
0.51	003022	Levima Advanced Materials	Pair Corr
0.36	603002	Epoxy Base Electronic	Pair Corr
0.63	ASIX	AdvanSix	Pair Corr
0.59	LOOP	Loop Industries Earnings Call This Week	Pair Corr
0.54	688203	Zhejiang HISUN Bioma	Pair Corr
0.5	688219	Orinko Advanced Plastics	Pair Corr
0.32	300777	Sinofibers Technology	Pair Corr
0.31	000420	Jilin Chemical Fibre	Pair Corr

Related Correlations Analysis

	AMG	ATCO	JHG	HLNE	PSEC	OTF	STEP	FCFS	VOYA	CBSH
AMG		0.0	0.72	0.68	-0.43	0.16	0.23	0.65	0.11	-0.02	AMG
ATCO	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ATCO
JHG	0.72	0.0		0.73	-0.3	0.35	0.65	0.4	0.55	0.43	JHG
HLNE	0.68	0.0	0.73		-0.25	-0.07	0.51	0.51	0.35	0.38	HLNE
PSEC	-0.43	0.0	-0.3	-0.25		-0.13	-0.14	-0.29	-0.38	-0.01	PSEC
OTF	0.16	0.0	0.35	-0.07	-0.13		0.43	0.1	0.44	0.11	OTF
STEP	0.23	0.0	0.65	0.51	-0.14	0.43		0.1	0.73	0.72	STEP
FCFS	0.65	0.0	0.4	0.51	-0.29	0.1	0.1		0.21	0.0	FCFS
VOYA	0.11	0.0	0.55	0.35	-0.38	0.44	0.73	0.21		0.6	VOYA
CBSH	-0.02	0.0	0.43	0.38	-0.01	0.11	0.72	0.0	0.6		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	+ 0.73	JHG
VOYA	+ 0.73	STEP
JHG	+ 0.72	AMG
CBSH	+ 0.72	STEP
HLNE	+ 0.68	AMG
FCFS	+ 0.65	AMG

High negative correlations

PSEC	- 0.43	AMG
VOYA	- 0.38	PSEC
PSEC	- 0.3	JHG
FCFS	- 0.29	PSEC
PSEC	- 0.25	HLNE
STEP	- 0.14	PSEC

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	0.23	0.16	0.23	1.31	(1.54)	3.07	(2.15)	10.56
ATCO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JHG	1.27	0.04	0.04	0.08	1.65	(1.35)	2.51	(2.83)	14.63
HLNE	1.54	(0.09)	0.00	(0.03)	0.00	0.00	3.02	(3.34)	9.90
PSEC	1.40	0.01	0.00	0.06	1.49	(1.60)	3.94	(2.26)	10.92
OTF	1.35	0.08	0.05	0.15	1.39	(1.53)	3.18	(2.58)	8.82
STEP	1.66	(0.10)	0.00	(0.03)	0.00	0.00	3.61	(3.16)	9.39
FCFS	1.35	0.02	0.00	0.07	1.95	(1.27)	2.45	(3.37)	12.46
VOYA	1.13	(0.05)	(0.04)	(0.01)	1.43	(1.17)	2.25	(2.61)	6.30
CBSH	1.01	(0.16)	0.00	(0.11)	0.00	0.00	2.38	(3.26)	9.69

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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