Ashland Global Correlations

ASH Stock

USD 50.13 0.57 1.15%

The current 90-days correlation between Ashland Global Holdings and Chemours Co is 0.75 (i.e., Poor diversification). The correlation of Ashland Global 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.

Ashland Global Correlation With Market

Poor diversification

The correlation between Ashland Global Holdings and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ashland Global Holdings and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ashland Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ashland Global Holdings. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Ashland Stock

0.88	CC	Chemours	Pair Corr
0.8	DD	Dupont De Nemours	Pair Corr
0.71	FF	FutureFuel Corp	Pair Corr
0.92	WTTR	Select Energy Services	Pair Corr
0.89	ALB-PA	Albemarle	Pair Corr
0.9	ALB	Albemarle Corp	Pair Corr
0.86	APD	Air Products	Pair Corr
0.88	CBT	Cabot	Pair Corr
0.88	EMN	Eastman Chemical	Pair Corr
0.76	ESI	Element Solutions	Pair Corr
0.79	FSI	Flexible Solutions Potential Growth	Pair Corr
0.67	IFF	International Flavors	Pair Corr
0.76	KRO	Kronos Worldwide	Pair Corr
0.91	KWR	Quaker Chemical	Pair Corr
0.93	LYB	LyondellBasell Industries	Pair Corr
0.82	MTX	Minerals Technologies	Pair Corr
0.85	OEC	Orion Engineered Carbons	Pair Corr
0.93	OLN	Olin	Pair Corr
0.62	RPM	RPM International	Pair Corr
0.85	SQM	Sociedad Quimica y	Pair Corr
0.62	TSE	Trinseo SA	Pair Corr
0.83	WLK	Westlake Chemical	Pair Corr
0.66	GEVO	Gevo Inc	Pair Corr

Moving against Ashland Stock

0.54	NEU	NewMarket	Pair Corr
0.53	CMT	Core Molding Technologies	Pair Corr
0.47	PRM	Perimeter Solutions	Pair Corr
0.32	FEAM	5E Advanced Materials	Pair Corr
0.65	HWKN	Hawkins	Pair Corr
0.55	SXT	Sensient Technologies	Pair Corr
0.44	X	United States Steel	Pair Corr

Related Correlations Analysis

	CC	DD	FF	ECVT	FEAM	ALB-PA	ALB	APD	CBT
CC		0.71	0.74	-0.2	-0.27	0.89	0.9	0.75	0.87	CC
DD	0.71		0.65	0.31	-0.36	0.89	0.89	0.89	0.63	DD
FF	0.74	0.65		0.03	-0.32	0.71	0.72	0.68	0.64	FF
ECVT	-0.2	0.31	0.03		0.07	0.07	0.04	0.26	-0.35	ECVT
FEAM	-0.27	-0.36	-0.32	0.07		-0.44	-0.45	-0.37	-0.42	FEAM
ALB-PA	0.89	0.89	0.71	0.07	-0.44		1.0	0.9	0.84	ALB-PA
ALB	0.9	0.89	0.72	0.04	-0.45	1.0		0.89	0.85	ALB
APD	0.75	0.89	0.68	0.26	-0.37	0.9	0.89		0.75	APD
CBT	0.87	0.63	0.64	-0.35	-0.42	0.84	0.85	0.75		CBT
	CC	DD	FF	ECVT	FEAM	ALB-PA	ALB	APD	CBT

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ALB	+ 1.0	ALB-PA
ALB	+ 0.9	CC
APD	+ 0.9	ALB-PA
ALB-PA	+ 0.89	CC
ALB-PA	+ 0.89	DD
ALB	+ 0.89	DD

High negative correlations

ALB	- 0.45	FEAM
ALB-PA	- 0.44	FEAM
CBT	- 0.42	FEAM
APD	- 0.37	FEAM
FEAM	- 0.36	DD
CBT	- 0.35	ECVT

Risk-Adjusted Indicators

There is a big difference between Ashland Stock performing well and Ashland Global 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 Ashland Global'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
CC	3.43	(0.22)	0.00	(0.10)	0.00	0.00	5.86	(9.08)	34.02
DD	2.00	(0.16)	0.00	1.98	0.00	0.00	3.54	(4.60)	19.29
FF	1.79	(0.10)	0.00	(0.21)	0.00	0.00	3.58	(4.77)	10.73
ECVT	2.22	0.29	0.10	0.21	2.63	(2.65)	4.82	(5.00)	17.57
FEAM	4.65	0.20	0.03	0.21	6.40	(4.59)	10.53	(10.85)	26.98
ALB-PA	2.37	(0.18)	0.00	(0.10)	0.00	0.00	4.36	(5.84)	24.56
ALB	2.73	(0.23)	0.00	(0.12)	0.00	0.00	4.72	(7.96)	28.65
APD	1.43	(0.14)	0.00	(0.13)	0.00	0.00	2.10	(3.99)	11.70
CBT	1.45	(0.12)	0.00	(0.14)	0.00	0.00	2.74	(4.10)	14.64

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

2025 Macroaxis LLC