Westlake Chemical Correlations

WLKP Stock

USD 23.37 0.30 1.30%

The current 90-days correlation between Westlake Chemical and Valhi Inc is -0.05 (i.e., Good diversification). The correlation of Westlake Chemical 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.

Westlake Chemical Correlation With Market

Average diversification

The correlation between Westlake Chemical Partners and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westlake Chemical Partners and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Westlake Chemical Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

To learn how to invest in Westlake Stock, please use our How to Invest in Westlake Chemical guide.

Moving together with Westlake Stock

0.62	RS	Reliance Steel Aluminum	Pair Corr
0.65	CMC	Commercial Metals	Pair Corr
0.64	KALU	Kaiser Aluminum	Pair Corr
0.64	CENX	Century Aluminum	Pair Corr

Moving against Westlake Stock

0.73	BAK	Braskem SA Class	Pair Corr
0.72	PFH	Prudential Financial 4125	Pair Corr
0.68	PKX	POSCO Holdings	Pair Corr
0.62	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.58	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.43	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.43	GURE	Gulf Resources	Pair Corr
0.4	PRS	Prudential Financial	Pair Corr
0.37	EGO	Eldorado Gold Corp	Pair Corr
0.35	VHI	Valhi Inc	Pair Corr
0.32	FNV	Franco Nevada	Pair Corr
0.31	AU	AngloGold Ashanti plc	Pair Corr
0.7	DNMR	Danimer Scientific	Pair Corr
0.67	CE	Celanese	Pair Corr
0.52	HL	Hecla Mining	Pair Corr
0.48	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.47	SA	Seabridge Gold	Pair Corr
0.45	NB	NioCorp Developments	Pair Corr
0.44	FF	FutureFuel Corp	Pair Corr
0.43	HYMCW	Hycroft Mining Holding	Pair Corr

Related Correlations Analysis

	VHI	HUN	UNVR	LXU	GPRE	ASIX	MEOH	TROX	SIRE
VHI		0.51	0.37	0.57	-0.11	0.38	-0.23	0.39	0.03	VHI
HUN	0.51		-0.22	0.1	0.45	0.13	-0.16	0.8	-0.61	HUN
UNVR	0.37	-0.22		0.68	-0.79	0.38	-0.14	-0.37	0.78	UNVR
LXU	0.57	0.1	0.68		-0.49	0.69	0.16	0.22	0.55	LXU
GPRE	-0.11	0.45	-0.79	-0.49		-0.11	0.25	0.55	-0.78	GPRE
ASIX	0.38	0.13	0.38	0.69	-0.11		0.51	0.4	0.32	ASIX
MEOH	-0.23	-0.16	-0.14	0.16	0.25	0.51		0.32	0.16	MEOH
TROX	0.39	0.8	-0.37	0.22	0.55	0.4	0.32		-0.51	TROX
SIRE	0.03	-0.61	0.78	0.55	-0.78	0.32	0.16	-0.51		SIRE
	VHI	HUN	UNVR	LXU	GPRE	ASIX	MEOH	TROX	SIRE

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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

TROX	+ 0.8	HUN
SIRE	+ 0.78	UNVR
ASIX	+ 0.69	LXU
LXU	+ 0.68	UNVR
LXU	+ 0.57	VHI
SIRE	+ 0.55	LXU

High negative correlations

GPRE	- 0.79	UNVR
SIRE	- 0.78	GPRE
SIRE	- 0.61	HUN
SIRE	- 0.51	TROX
GPRE	- 0.49	LXU
TROX	- 0.37	UNVR

Risk-Adjusted Indicators

There is a big difference between Westlake Stock performing well and Westlake Chemical 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 Westlake Chemical'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
VHI	3.92	(0.01)	0.03	0.12	5.15	(4.62)	8.19	(7.20)	45.51
HUN	1.33	(0.17)	0.00	(0.08)	0.00	0.00	3.18	(3.35)	10.23
UNVR	0.12	0.02	(0.76)	(0.90)	0.00	(0.15)	0.31	(0.22)	0.79
LXU	2.06	0.03	0.06	0.14	2.21	(2.28)	4.59	(4.10)	18.88
GPRE	3.01	(0.21)	0.00	5.31	0.00	0.00	5.47	(7.90)	19.80
ASIX	1.52	(0.08)	0.01	0.08	1.61	(1.77)	3.57	(2.64)	9.70
MEOH	1.63	0.02	(0.02)	0.15	2.64	(1.57)	3.29	(4.72)	11.13
TROX	2.32	(0.30)	0.00	(0.04)	0.00	0.00	6.11	(4.98)	17.98
SIRE	0.11	0.03	(0.63)	(2.83)	0.00	(0.16)	0.24	(0.20)	1.16

Westlake Chemical Corporate Management

Benjamin Ederington	General Counsel of Westlake Chemical Partners GP LLC, VP of Westlake Chemical Partners GP LLC, Corporate Secretary of Westlake Chemical Partners GP LLC and Westlake Chemical Partners GP LLC	Profile
Johnathan Zoeller	Chief Accounting Officer, Vice President of Westlake Chemical Partners GP LLC	Profile
Benjamin JD	Gen Mat	Profile
Randy Woelfel	Independent Director of Westlake Chemical Partners GP LLC	Profile
G Finley	Independent Director of Westlake Chemical Partners GP LLC	Profile
Andrew Kenner	Senior LLC	Profile

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