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.
Celanese |
Moving together with Celanese Stock
0.73 | AA | Alcoa Corp | PairCorr |
0.67 | HYMCW | Hycroft Mining Holding | PairCorr |
0.67 | CDE | Coeur Mining Aggressive Push | PairCorr |
0.67 | DOW | Dow Inc | PairCorr |
0.78 | ERO | Ero Copper Corp | PairCorr |
0.8 | HBM | Hudbay Minerals | PairCorr |
Moving against Celanese Stock
0.76 | BTG | B2Gold Corp Buyout Trend | PairCorr |
0.72 | DC | Dakota Gold Corp | PairCorr |
0.71 | MT | ArcelorMittal SA ADR Sell-off Trend | PairCorr |
0.71 | AGI | Alamos Gold | PairCorr |
0.69 | DRD | DRDGOLD Limited ADR | PairCorr |
0.56 | AEM | Agnico Eagle Mines | PairCorr |
0.49 | EQX | Equinox Gold Corp | PairCorr |
0.45 | AU | AngloGold Ashanti plc | PairCorr |
0.35 | HYMCL | Hycroft Mining Holding | PairCorr |
0.34 | X | United States Steel | PairCorr |
0.62 | GFI | Gold Fields | PairCorr |
0.61 | FNV | Franco Nevada | PairCorr |
0.57 | PKX | POSCO Holdings | PairCorr |
0.53 | MSB | Mesabi Trust | PairCorr |
0.38 | NUE | Nucor Corp | PairCorr |
0.37 | NEM | Newmont Goldcorp Corp | PairCorr |
0.32 | HMY | Harmony Gold Mining | PairCorr |
Related Correlations Analysis
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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 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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum 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 |