TRI CHEMICAL Correlations

22E Stock

16.50 0.30 1.79%

The current 90-days correlation between TRI CHEMICAL LABORATINC and Linde plc is 0.07 (i.e., Significant diversification). The correlation of TRI CHEMICAL 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.

TRI CHEMICAL Correlation With Market

Significant diversification

The correlation between TRI CHEMICAL LABORATINC and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TRI CHEMICAL LABORATINC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to TRI CHEMICAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace TRI CHEMICAL 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 TRI CHEMICAL - 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 TRI CHEMICAL LABORATINC to buy it.

Moving together with TRI Stock

0.78	AIL	Air Liquide SA	Pair Corr
0.89	SIKB	SIKA AG UNSPADR	Pair Corr
0.8	DLY	LyondellBasell Industries	Pair Corr
0.76	GD6	Ramsay Gnrale de	Pair Corr
0.73	HVB	STRA Hannoversche	Pair Corr

Moving against TRI Stock

0.71	M5V	EHEALTH	Pair Corr
0.64	AMC	Albemarle	Pair Corr
0.44	ECJ	Ecolab Inc	Pair Corr
0.43	A2R	Accent Resources	Pair Corr
0.39	SJ3	Sherwin Williams	Pair Corr
0.34	RU6	PT Solusi Bangun	Pair Corr
0.33	XYTA	CHINA HUARONG ENERHD	Pair Corr
0.88	M4I	Mastercard	Pair Corr
0.88	2CDA	Controladora Vuela Compaa	Pair Corr
0.85	RC2	RCM TECHNOLOGIES	Pair Corr
0.79	PNP	PNC Financial	Pair Corr
0.79	WD5A	TRAVEL LEISURE DL	Pair Corr
0.79	PTX	Palantir Technologies	Pair Corr
0.77	FFH	Fifth Third Bancorp	Pair Corr
0.75	3FNA	ADRIATIC METALS LS	Pair Corr
0.75	AF4	HANOVER INSURANCE	Pair Corr
0.74	EN3	Enbridge	Pair Corr
0.7	AZ5	AutoZone	Pair Corr
0.68	PPB	Flutter Entertainment PLC	Pair Corr
0.63	MSF	Microsoft	Pair Corr
0.58	HIP	Park Hotels Resorts	Pair Corr
0.38	4GE	Grupo Mxico SAB	Pair Corr
0.37	RZH	SCOTT TECHNOLOGY	Pair Corr
0.87	WX1	Acadia Realty Trust	Pair Corr
0.85	HI91	Hilton Worldwide Holdings	Pair Corr
0.84	2WY	Wyndham Hotels Resorts	Pair Corr
0.82	QAN	Qantas Airways	Pair Corr
0.78	VA7A	VERISK ANLYTCS A	Pair Corr
0.75	CQD	Charter Communications	Pair Corr

Related Correlations Analysis

	LIN	LIN	AIL	SJ3	ECJ	6D81	DLY	PPQ	AMC
LIN		0.99	0.47	0.23	0.43	0.47	0.54	0.39	-0.02	LIN
LIN	0.99		0.49	0.22	0.46	0.46	0.53	0.42	-0.03	LIN
AIL	0.47	0.49		-0.5	-0.14	0.08	0.8	0.01	-0.68	AIL
SJ3	0.23	0.22	-0.5		0.4	0.49	-0.28	0.45	0.71	SJ3
ECJ	0.43	0.46	-0.14	0.4		0.29	-0.23	0.54	0.34	ECJ
6D81	0.47	0.46	0.08	0.49	0.29		0.25	0.6	0.3	6D81
DLY	0.54	0.53	0.8	-0.28	-0.23	0.25		-0.08	-0.48	DLY
PPQ	0.39	0.42	0.01	0.45	0.54	0.6	-0.08		0.3	PPQ
AMC	-0.02	-0.03	-0.68	0.71	0.34	0.3	-0.48	0.3		AMC
	LIN	LIN	AIL	SJ3	ECJ	6D81	DLY	PPQ	AMC

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

LIN	+ 0.99	LIN
DLY	+ 0.8	AIL
AMC	+ 0.71	SJ3
PPQ	+ 0.6	6D81
DLY	+ 0.54	LIN
PPQ	+ 0.54	ECJ

High negative correlations

AMC	- 0.68	AIL
SJ3	- 0.5	AIL
AMC	- 0.48	DLY
DLY	- 0.28	SJ3
DLY	- 0.23	ECJ
ECJ	- 0.14	AIL

Risk-Adjusted Indicators

There is a big difference between TRI Stock performing well and TRI CHEMICAL 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 TRI CHEMICAL'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
LIN	0.74	(0.08)	0.00	(0.10)	0.00	0.00	1.62	(1.60)	6.13
LIN	0.65	(0.07)	0.00	(0.11)	0.00	0.00	1.35	(1.30)	5.12
AIL	0.77	(0.13)	0.00	(0.71)	0.00	0.00	1.36	(2.01)	4.17
SJ3	1.25	(0.04)	0.00	(0.12)	0.00	0.00	3.86	(2.34)	14.34
ECJ	0.85	0.00	(0.01)	0.02	0.99	(0.95)	2.20	(1.52)	5.43
6D81	1.09	(0.02)	(0.02)	0.00	1.23	(1.34)	2.47	(2.20)	12.90
DLY	1.27	(0.25)	0.00	(0.35)	0.00	0.00	3.10	(2.72)	9.70
PPQ	1.10	0.02	0.01	0.07	1.07	(1.34)	2.39	(1.78)	7.27
AMC	2.96	0.15	0.05	0.18	3.01	(3.55)	7.95	(5.10)	20.17

Be your own money manager

Our tools can tell you how much better you can do entering a position in TRI CHEMICAL 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 Risk-Return Analysis Now

Risk-Return Analysis

View associations between returns expected from investment and the risk you assume

All Next

Launch Module

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

2024 Macroaxis LLC