Calumet Specialty Correlations

CLMT Stock

USD 12.23 0.44 3.47%

The correlation of Calumet Specialty 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Calumet Specialty Correlation With Market

Significant diversification

The correlation between Calumet Specialty Products and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calumet Specialty Products 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 Calumet Specialty Products. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Calumet Stock

0.65	FF	FutureFuel Corp	Pair Corr
0.81	WTTR	Select Energy Services	Pair Corr
0.89	FEAM	5E Advanced Materials	Pair Corr
0.71	ALB	Albemarle Corp	Pair Corr
0.81	ASH	Ashland Global Holdings	Pair Corr
0.66	CMT	Core Molding Technologies	Pair Corr
0.73	KRO	Kronos Worldwide	Pair Corr
0.81	OEC	Orion Engineered Carbons	Pair Corr
0.8	OLN	Olin	Pair Corr
0.77	PRM	Perimeter Solutions Upward Rally	Pair Corr
0.94	GEVO	Gevo Inc	Pair Corr

Moving against Calumet Stock

0.73	ECL	Ecolab Inc	Pair Corr
0.63	LIN	Linde plc Ordinary	Pair Corr
0.58	NEU	NewMarket	Pair Corr
0.51	FSI	Flexible Solutions Earnings Call Tomorrow	Pair Corr
0.68	SQM	Sociedad Quimica y	Pair Corr
0.64	BCPC	Balchem	Pair Corr
0.59	NGVT	Ingevity Corp	Pair Corr
0.45	X	United States Steel Sell-off Trend	Pair Corr
0.42	AG	First Majestic Silver	Pair Corr
0.33	SHW	Sherwin Williams	Pair Corr

Related Correlations Analysis

	SBOW	ESTE	BATL	DEN	GRNT	GPRK	CRGY	PNRG	EPSN	PHX
SBOW		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SBOW
ESTE	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ESTE
BATL	0.0	0.0		0.0	0.59	0.72	0.88	0.27	-0.73	-0.06	BATL
DEN	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	DEN
GRNT	0.0	0.0	0.59	0.0		0.89	0.82	0.48	-0.19	0.39	GRNT
GPRK	0.0	0.0	0.72	0.0	0.89		0.86	0.29	-0.4	0.12	GPRK
CRGY	0.0	0.0	0.88	0.0	0.82	0.86		0.35	-0.61	0.23	CRGY
PNRG	0.0	0.0	0.27	0.0	0.48	0.29	0.35		0.04	0.18	PNRG
EPSN	0.0	0.0	-0.73	0.0	-0.19	-0.4	-0.61	0.04		0.09	EPSN
PHX	0.0	0.0	-0.06	0.0	0.39	0.12	0.23	0.18	0.09		PHX
	SBOW	ESTE	BATL	DEN	GRNT	GPRK	CRGY	PNRG	EPSN	PHX

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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

GPRK	+ 0.89	GRNT
CRGY	+ 0.88	BATL
CRGY	+ 0.86	GPRK
CRGY	+ 0.82	GRNT
GPRK	+ 0.72	BATL
GRNT	+ 0.59	BATL

High negative correlations

EPSN	- 0.73	BATL
EPSN	- 0.61	CRGY
EPSN	- 0.4	GPRK
EPSN	- 0.19	GRNT
PHX	- 0.06	BATL
PHX	- 0.0	DEN

Risk-Adjusted Indicators

There is a big difference between Calumet Stock performing well and Calumet Specialty 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 Calumet Specialty'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
SBOW	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESTE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BATL	4.40	(0.49)	0.00	(0.47)	0.00	0.00	14.92	(9.33)	27.73
DEN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GRNT	1.43	0.11	0.04	0.17	2.23	(1.36)	3.03	(4.09)	10.15
GPRK	2.46	(0.05)	0.00	(0.08)	0.00	0.00	5.57	(5.07)	14.97
CRGY	1.84	(0.25)	0.00	(0.27)	0.00	0.00	3.44	(3.64)	13.49
PNRG	2.34	0.09	0.03	0.09	3.11	(2.40)	4.01	(4.66)	12.30
EPSN	1.68	0.35	0.16	0.70	1.75	(1.89)	5.04	(3.66)	10.87
PHX	1.56	0.12	0.06	0.27	1.74	(1.82)	3.27	(3.16)	7.74

Calumet Specialty Corporate Management

Chris Hodges	Alpha IR	Profile
Marc Lawn	LLC GP	Profile
Vincent Donargo	Chief Officer	Profile
Brad McMurray	Director Relations	Profile

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