Tronox Holdings Correlations

TROX Stock

USD 9.97 0.01 0.10%

The current 90-days correlation between Tronox Holdings PLC and AdvanSix is 0.51 (i.e., Very weak diversification). The correlation of Tronox Holdings 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.

Tronox Holdings Correlation With Market

Modest diversification

The correlation between Tronox Holdings PLC and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tronox Holdings PLC and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Tronox Stock

0.66	X	United States Steel	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.68	AG	First Majestic Silver Buyout Trend	Pair Corr
0.68	AU	AngloGold Ashanti plc	Pair Corr
0.78	CE	Celanese	Pair Corr
0.75	IE	Ivanhoe Electric	Pair Corr
0.72	NG	NovaGold Resources Earnings Call This Week	Pair Corr
0.76	OR	Osisko Gold Ro	Pair Corr
0.85	SA	Seabridge Gold	Pair Corr
0.85	TX	Ternium SA ADR	Pair Corr
0.85	HYMCL	Hycroft Mining Holding	Pair Corr
0.92	BAK	Braskem SA Class	Pair Corr
0.84	BTG	B2Gold Corp	Pair Corr
0.87	CLF	Cleveland Cliffs Aggressive Push	Pair Corr
0.93	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.72	DRD	DRDGOLD Limited ADR	Pair Corr
0.81	EGO	Eldorado Gold Corp	Pair Corr
0.84	ERO	Ero Copper Corp	Pair Corr
0.91	FCX	Freeport McMoran Copper Earnings Call This Week	Pair Corr
0.67	FSM	Fortuna Silver Mines	Pair Corr
0.66	GAU	Galiano Gold	Pair Corr
0.69	GFI	Gold Fields	Pair Corr
0.67	HBM	Hudbay Minerals	Pair Corr
0.73	HMY	Harmony Gold Mining	Pair Corr
0.94	HUN	Huntsman	Pair Corr

Moving against Tronox Stock

0.52	WLKP	Westlake Chemical	Pair Corr
0.67	MSB	Mesabi Trust	Pair Corr
0.51	HLP	Hongli Group Ordinary	Pair Corr

Related Correlations Analysis

	SIRE	LXU	ASIX	BAK	CE	GPRE	UNVR	HUN	MEOH	VHI
SIRE		-0.28	-0.22	-0.79	-0.51	-0.76	0.78	-0.73	0.78	-0.68	SIRE
LXU	-0.28		0.76	0.61	0.38	0.56	-0.49	0.54	-0.36	0.46	LXU
ASIX	-0.22	0.76		0.26	-0.12	0.32	-0.1	0.19	0.01	0.1	ASIX
BAK	-0.79	0.61	0.26		0.85	0.89	-0.89	0.95	-0.89	0.91	BAK
CE	-0.51	0.38	-0.12	0.85		0.7	-0.79	0.91	-0.81	0.84	CE
GPRE	-0.76	0.56	0.32	0.89	0.7		-0.76	0.81	-0.81	0.83	GPRE
UNVR	0.78	-0.49	-0.1	-0.89	-0.79	-0.76		-0.87	0.87	-0.84	UNVR
HUN	-0.73	0.54	0.19	0.95	0.91	0.81	-0.87		-0.85	0.87	HUN
MEOH	0.78	-0.36	0.01	-0.89	-0.81	-0.81	0.87	-0.85		-0.89	MEOH
VHI	-0.68	0.46	0.1	0.91	0.84	0.83	-0.84	0.87	-0.89		VHI
	SIRE	LXU	ASIX	BAK	CE	GPRE	UNVR	HUN	MEOH	VHI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

HUN	+ 0.95	BAK
VHI	+ 0.91	BAK
HUN	+ 0.91	CE
GPRE	+ 0.89	BAK
MEOH	+ 0.87	UNVR
VHI	+ 0.87	HUN

High negative correlations

VHI	- 0.89	MEOH
MEOH	- 0.89	BAK
UNVR	- 0.89	BAK
HUN	- 0.87	UNVR
MEOH	- 0.85	HUN
VHI	- 0.84	UNVR

Risk-Adjusted Indicators

There is a big difference between Tronox Stock performing well and Tronox Holdings 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 Tronox Holdings' 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
SIRE	0.11	0.03	0.09	(1.69)	0.00	(0.16)	0.24	(0.20)	1.16
LXU	1.86	(0.02)	(0.01)	0.00	2.13	(2.29)	3.53	(4.10)	22.64
ASIX	1.59	0.06	0.03	0.11	1.57	(2.03)	3.66	(2.64)	11.57
BAK	2.14	(0.70)	0.00	(1.30)	0.00	0.00	3.78	(5.50)	17.52
CE	1.99	(0.83)	0.00	0.47	0.00	0.00	2.67	(4.77)	27.22
GPRE	3.12	(0.20)	0.00	5.02	0.00	0.00	5.63	(7.06)	18.54
UNVR	0.12	0.01	(0.04)	0.61	0.00	(0.15)	0.31	(0.22)	0.79
HUN	1.30	(0.40)	0.00	308.23	0.00	0.00	2.62	(2.82)	5.89
MEOH	1.23	0.26	0.17	2.07	1.25	(1.38)	2.91	(2.21)	11.35
VHI	3.09	(0.51)	0.00	(0.41)	0.00	0.00	6.85	(6.22)	32.14

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC