Innospec Correlations
| OCT Stock | EUR 65.50 1.50 2.24% |
The current 90-days correlation between Innospec and INTER CARS SA is -0.06 (i.e., Good diversification). The correlation of Innospec 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.
Innospec Correlation With Market
Very poor diversification
The correlation between Innospec and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Innospec and DJI in the same portfolio, assuming nothing else is changed.
Innospec |
The ability to find closely correlated positions to Innospec could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Innospec when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Innospec - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Innospec to buy it.
Moving together with Innospec Stock
| 0.78 | RHO | ROCHE HLDG | PairCorr |
| 0.74 | 6MK | Merck | PairCorr |
| 0.75 | NOT | NOVARTIS N | PairCorr |
| 0.74 | 4I1 | Philip Morris Intern | PairCorr |
| 0.65 | TOTB | TotalEnergies SE | PairCorr |
| 0.72 | MIZ | Mizuno | PairCorr |
| 0.66 | 92I | ROMERIKE SPAREBANK | PairCorr |
| 0.74 | HCMA | HITACHI CONSTRMACHADR/2 | PairCorr |
| 0.74 | YHA | Yamaha | PairCorr |
| 0.69 | NZR | NZ REFINING CO | PairCorr |
| 0.7 | CIE1 | Ciena Earnings Call This Week | PairCorr |
| 0.67 | SHG | Sun Hung Kai Earnings Call Today | PairCorr |
| 0.67 | 4OQ1 | AGNC Investment Corp | PairCorr |
| 0.78 | TWZ | Trican Well Service | PairCorr |
| 0.63 | 30Z0 | IPERIONX LTD SPADR10 | PairCorr |
| 0.66 | W25 | West African Resources Earnings Call This Week | PairCorr |
| 0.62 | 23J | Promis Neurosciences Split | PairCorr |
| 0.68 | PUM | PUMA SE Earnings Call Today | PairCorr |
| 0.75 | WFK | World Fuel Services | PairCorr |
Moving against Innospec Stock
| 0.77 | SON1 | Sony Group Corp | PairCorr |
| 0.71 | 5F3 | JINS HOLDINGS INC | PairCorr |
| 0.67 | ABL | Abbott Laboratories | PairCorr |
| 0.63 | QCI | QUALCOMM | PairCorr |
| 0.41 | DAP | DANAHER (DAPSG) | PairCorr |
Related Correlations Analysis
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 Innospec Stock performing well and Innospec 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 Innospec'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 7FZ | 1.54 | 0.25 | 0.06 | (1.60) | 1.88 | 3.70 | 13.85 | |||
| CK3 | 1.88 | (0.16) | 0.00 | (0.22) | 0.00 | 3.96 | 13.49 | |||
| 54M | 2.33 | (0.30) | 0.00 | (0.40) | 0.00 | 5.41 | 23.00 | |||
| E3B | 3.40 | (0.01) | 0.00 | 0.27 | 0.00 | 7.10 | 23.38 | |||
| 4GF | 2.39 | 0.23 | 0.03 | (1.25) | 2.91 | 5.98 | 20.23 | |||
| 02G | 2.46 | 0.23 | 0.03 | (1.62) | 2.32 | 5.41 | 22.05 | |||
| EV9 | 1.97 | 0.11 | 0.03 | 0.23 | 2.27 | 5.97 | 18.41 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Innospec without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Alpha Finder Now
Alpha FinderUse alpha and beta coefficients to find investment opportunities after accounting for the risk |
| All Next | Launch Module |
Innospec Corporate Management
Elected by the shareholders, the Innospec's board of directors comprises two types of representatives: Innospec inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Innospec. The board's role is to monitor Innospec's management team and ensure that shareholders' interests are well served. Innospec's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Innospec's outside directors are responsible for providing unbiased perspectives on the board's policies.
| David CPA | General VP | Profile | |
| David Jones | Gen VP | Profile | |
| Trey Griffin | Senior Resources | Profile | |
| Graeme Blair | Head Finance | Profile | |
| Corbin Barnes | Senior Relations | Profile | |
| Philip Boon | COO VP | Profile |