Stepan Correlations

Stocks . USA . 
Stock . Stepan Company
SCL Stock  USD 50.03  0.12  0.24%   
The current 90-days correlation between Stepan Company and Innospec is 0.72 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Stepan moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Stepan Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Stepan Correlation With Market

Very weak diversification

The correlation between Stepan Company and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stepan Company and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Stepan Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with Stepan Stock

  0.64FF FutureFuel CorpPairCorr
  0.72WTTR Select Energy ServicesPairCorr
  0.87EMN Eastman Chemical Sell-off TrendPairCorr
  0.9IFF International FlavorsPairCorr
  0.71KOP Koppers HoldingsPairCorr
  0.62KRO Kronos WorldwidePairCorr
  0.86LYB LyondellBasell IndustriesPairCorr
  0.7OEC Orion Engineered CarbonsPairCorr
  0.69PPG PPG IndustriesPairCorr
  0.66TSE Trinseo SAPairCorr

Moving against Stepan Stock

  0.55FSI Flexible SolutionsPairCorr
  0.44CMT Core Molding TechnologiesPairCorr
  0.4ALB Albemarle CorpPairCorr
  0.4ECL Ecolab IncPairCorr
  0.33ALB-PA AlbemarlePairCorr
  0.32ASH Ashland Global HoldingsPairCorr
  0.67RPM RPM InternationalPairCorr
  0.55PRM Perimeter SolutionsPairCorr
  0.54SQM Sociedad Quimica yPairCorr
  0.53SXT Sensient TechnologiesPairCorr
  0.52SSL SasolPairCorr
  0.5KWR Quaker ChemicalPairCorr
  0.47NEU NewMarketPairCorr
  0.43SHW Sherwin WilliamsPairCorr
  0.36MTX Minerals TechnologiesPairCorr
  0.32LIN Linde plc OrdinaryPairCorr

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

KWR
+ 0.84
MTX
SXT
+ 0.73
KWR
AVNT
+ 0.68
MTX
SXT
+ 0.67
MTX
AVNT
+ 0.65
KWR
FUL
+ 0.58
IOSP
  

High negative correlations

SXT
- 0.24
IOSP

Risk-Adjusted Indicators

There is a big difference between Stepan Stock performing well and Stepan 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 Stepan'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.

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