Celanese Correlations

CE Stock  USD 57.97  0.92  1.61%   
The correlation of Celanese 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.

Celanese Correlation With Market

Modest diversification

The correlation between Celanese and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Celanese and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Celanese. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.
For information on how to trade Celanese Stock refer to our How to Trade Celanese Stock guide.

Moving together with Celanese Stock

  0.73AA Alcoa CorpPairCorr
  0.67HYMCW Hycroft Mining HoldingPairCorr
  0.67CDE Coeur Mining Aggressive PushPairCorr
  0.67DOW Dow IncPairCorr
  0.78ERO Ero Copper CorpPairCorr
  0.8HBM Hudbay MineralsPairCorr

Moving against Celanese Stock

  0.76BTG B2Gold Corp Buyout TrendPairCorr
  0.72DC Dakota Gold CorpPairCorr
  0.71MT ArcelorMittal SA ADR Sell-off TrendPairCorr
  0.71AGI Alamos GoldPairCorr
  0.69DRD DRDGOLD Limited ADRPairCorr
  0.56AEM Agnico Eagle MinesPairCorr
  0.49EQX Equinox Gold CorpPairCorr
  0.45AU AngloGold Ashanti plcPairCorr
  0.35HYMCL Hycroft Mining HoldingPairCorr
  0.34X United States SteelPairCorr
  0.62GFI Gold FieldsPairCorr
  0.61FNV Franco NevadaPairCorr
  0.57PKX POSCO HoldingsPairCorr
  0.53MSB Mesabi TrustPairCorr
  0.38NUE Nucor CorpPairCorr
  0.37NEM Newmont Goldcorp CorpPairCorr
  0.32HMY Harmony Gold MiningPairCorr

Related Correlations Analysis

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   
VHIGPRE
VHITROX
GPRETROX
ASIXLXU
MEOHTROX
MEOHASIX
  
High negative correlations   
BASFYGPRE
BASFYVHI
BASFYTROX
MEOHBASFY
WLKPGPRE
BASFYLXU

Risk-Adjusted Indicators

There is a big difference between Celanese Stock performing well and Celanese 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 Celanese'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TROX  2.51 (0.52) 0.00 (0.47) 0.00 
 4.34 
 16.13 
GPRE  3.43 (0.87) 0.00 (0.93) 0.00 
 5.63 
 26.78 
LXU  2.13 (0.12) 0.00 (0.21) 0.00 
 3.41 
 27.77 
UNVR  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
VHI  2.06 (0.37) 0.00 (0.82) 0.00 
 3.61 
 12.93 
HUN  1.72 (0.06) 0.00 (0.18) 0.00 
 3.63 
 13.93 
BASFY  1.58  0.44  0.25  0.39  1.50 
 4.58 
 13.85 
WLKP  0.61  0.01  0.00 (0.06) 0.00 
 1.37 
 3.08 
ASIX  1.69 (0.25) 0.00 (0.31) 0.00 
 2.44 
 14.24 
MEOH  1.69 (0.19) 0.00 (0.28) 0.00 
 2.96 
 16.73