Element Solutions Correlations

ESI Stock

USD 35.44 0.06 0.17%

The current 90-days correlation between Element Solutions and Sociedad Quimica y is -0.04 (i.e., Good diversification). The correlation of Element Solutions 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.

Element Solutions Correlation With Market

Poor diversification

The correlation between Element Solutions 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 Element Solutions and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Element Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Element Solutions. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

For more detail on how to invest in Element Stock please use our How to Invest in Element Solutions guide.

Moving together with Element Stock

0.8	WCH	Wacker Chemie AG	Pair Corr
0.9	CE	Celanese	Pair Corr
0.86	FF	FutureFuel Corp	Pair Corr
0.88	EMSN	EMS CHEMIE HOLDING	Pair Corr
0.84	SZ8	Sumitomo Bakelite	Pair Corr
0.76	LXS	LANXESS Aktiengesellscha	Pair Corr
0.81	EMB	5N PLUS Earnings Call This Week	Pair Corr
0.94	2CU	Chemours	Pair Corr
0.71	SQU	Vinci S A	Pair Corr
0.89	22E	TRI CHEMICAL LABORATINC	Pair Corr
0.67	SAO	Sasol Earnings Call Tomorrow	Pair Corr
0.82	AFW	Align Technology	Pair Corr
0.9	K1W	Kronos Worldwide	Pair Corr
0.82	FMV	First Majestic Silver	Pair Corr
0.91	18RA	Select Energy Services	Pair Corr
0.94	PY9	Avient	Pair Corr
0.77	RP8	RPM International	Pair Corr
0.92	NPV	Nippon Carbon	Pair Corr
0.78	OCT	Innospec	Pair Corr
0.73	ALB	Albemarle Corp	Pair Corr
0.68	ASH	Ashland Global Holdings	Pair Corr
0.9	ECL	Ecolab Inc	Pair Corr
0.77	FUL	H B Fuller	Pair Corr
0.68	AP3	Air Products	Pair Corr
0.89	IFF	International Flavors	Pair Corr

Moving against Element Stock

0.86	M5S	Marna Beteiligungen	Pair Corr
0.73	UT8	Uber Technologies	Pair Corr
0.72	NANO	Nano One Materials	Pair Corr
0.5	4QT1	HEXPOL AB	Pair Corr
0.45	GIN1	Givaudan SA	Pair Corr
0.39	7YC	Synthomer plc	Pair Corr
0.85	FSI	Flexible Solutions	Pair Corr
0.74	NEU	NewMarket	Pair Corr

Related Correlations Analysis

	SQM	LYB	DD	RS	CF	CX	ALB	AGI	PAAS
SQM		0.54	0.54	0.71	0.57	0.89	0.96	0.73	0.88	SQM
LYB	0.54		0.91	0.9	0.91	0.71	0.72	0.72	0.66	LYB
DD	0.54	0.91		0.89	0.87	0.78	0.74	0.83	0.75	DD
RS	0.71	0.9	0.89		0.87	0.87	0.84	0.76	0.81	RS
CF	0.57	0.91	0.87	0.87		0.73	0.75	0.67	0.69	CF
CX	0.89	0.71	0.78	0.87	0.73		0.95	0.87	0.96	CX
ALB	0.96	0.72	0.74	0.84	0.75	0.95		0.83	0.93	ALB
AGI	0.73	0.72	0.83	0.76	0.67	0.87	0.83		0.91	AGI
PAAS	0.88	0.66	0.75	0.81	0.69	0.96	0.93	0.91		PAAS
	SQM	LYB	DD	RS	CF	CX	ALB	AGI	PAAS

Risk-Adjusted Indicators

There is a big difference between Element Stock performing well and Element Solutions 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 Element Solutions' 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
SQM	2.36	0.43	0.13	1.48	2.71	(2.56)	6.23	(4.33)	15.98
LYB	2.17	0.29	0.14	0.23	2.25	(2.44)	6.08	(3.84)	12.48
DD	1.33	0.28	0.17	0.28	1.38	(1.38)	3.82	(2.16)	10.08
RS	1.15	0.20	0.14	0.29	1.07	(1.23)	3.17	(1.90)	7.14
CF	1.62	0.19	0.07	0.52	1.89	(1.63)	3.60	(2.97)	8.59
CX	1.58	0.31	0.14	0.35	1.92	(1.72)	3.44	(3.18)	11.60
ALB	2.69	0.54	0.14	0.46	3.50	(2.77)	5.08	(6.18)	17.63
AGI	2.73	0.51	0.12	0.44	3.71	(2.71)	6.22	(6.26)	18.61
PAAS	3.14	0.76	0.18	0.51	3.67	(3.37)	7.23	(6.58)	24.89

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