AdvanSix Correlations
| ASIX Stock | USD 24.10 0.17 0.70% |
The current 90-days correlation between AdvanSix and Lsb Industries is 0.67 (i.e., Poor diversification). The correlation of AdvanSix 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.
AdvanSix Correlation With Market
Poor diversification
The correlation between AdvanSix and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvanSix and DJI in the same portfolio, assuming nothing else is changed.
Moving together with AdvanSix Stock
| 0.87 | CE | Celanese | PairCorr |
| 0.63 | DC | Dakota Gold Corp | PairCorr |
| 0.74 | IE | Ivanhoe Electric Potential Growth | PairCorr |
| 0.86 | MT | ArcelorMittal SA ADR | PairCorr |
| 0.78 | RS | Reliance Steel Aluminum | PairCorr |
| 0.78 | TX | Ternium SA ADR | PairCorr |
| 0.74 | WS | Worthington Steel Earnings Call This Week | PairCorr |
| 0.75 | CDE | Coeur Mining | PairCorr |
| 0.9 | CMC | Commercial Metals Earnings Call Tomorrow | PairCorr |
| 0.88 | ERO | Ero Copper Corp | PairCorr |
| 0.87 | FCX | Freeport McMoran Copper | PairCorr |
| 0.75 | GGB | Gerdau SA ADR | PairCorr |
| 0.86 | HBM | Hudbay Minerals | PairCorr |
Moving against AdvanSix Stock
| 0.43 | AGI | Alamos Gold | PairCorr |
| 0.41 | HYMCL | Hycroft Mining Holding | PairCorr |
| 0.32 | DRD | DRDGOLD Limited ADR | PairCorr |
| 0.79 | IDR | Idaho Strategic Resources | PairCorr |
| 0.36 | HMY | Harmony Gold Mining | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between AdvanSix Stock performing well and AdvanSix 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 AdvanSix'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MEOH | 2.32 | (0.08) | (0.01) | 0.02 | 3.81 | 5.19 | 30.26 | |||
| LXU | 2.64 | 0.25 | 0.07 | 0.24 | 3.47 | 5.41 | 15.57 | |||
| SIRE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| UNVR | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GPRE | 4.05 | 0.23 | 0.05 | 0.20 | 4.76 | 9.46 | 22.66 | |||
| TROX | 3.69 | (0.30) | 0.00 | (0.06) | 0.00 | 8.02 | 27.02 | |||
| VHI | 2.64 | (0.17) | 0.00 | (0.15) | 0.00 | 5.68 | 16.28 | |||
| WLKP | 0.79 | (0.09) | 0.00 | (0.14) | 0.00 | 2.16 | 8.24 | |||
| HUN | 2.58 | (0.67) | 0.00 | (0.34) | 0.00 | 4.04 | 25.83 |