Core Molding Correlations

CMT Stock

USD 14.88 0.03 0.20%

The current 90-days correlation between Core Molding Technologies and Northern Technologies is 0.35 (i.e., Weak diversification). The correlation of Core Molding 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.

Core Molding Correlation With Market

Very weak diversification

The correlation between Core Molding Technologies and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Molding Technologies 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 Core Molding Technologies. 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 Core Stock

0.7	FEAM	5E Advanced Materials	Pair Corr
0.67	ALB-PA	Albemarle	Pair Corr
0.73	ALB	Albemarle Corp	Pair Corr
0.66	ASH	Ashland Global Holdings	Pair Corr
0.74	CBT	Cabot	Pair Corr
0.7	FUL	H B Fuller	Pair Corr
0.71	OEC	Orion Engineered Carbons	Pair Corr
0.78	OLN	Olin	Pair Corr
0.65	SCL	Stepan Company	Pair Corr

Moving against Core Stock

0.81	ECL	Ecolab Inc	Pair Corr
0.8	LIN	Linde plc Ordinary	Pair Corr
0.67	FSI	Flexible Solutions Earnings Call Today	Pair Corr
0.65	EMN	Eastman Chemical	Pair Corr
0.53	DD	Dupont De Nemours	Pair Corr
0.45	NEU	NewMarket	Pair Corr
0.44	BSLKW	Bolt Projects Holdings, Symbol Change	Pair Corr
0.43	LYB	LyondellBasell Industries	Pair Corr
0.39	APD	Air Products	Pair Corr
0.67	AU	AngloGold Ashanti plc Sell-off Trend	Pair Corr
0.63	X	United States Steel Sell-off Trend	Pair Corr
0.58	NGVT	Ingevity Corp	Pair Corr
0.44	SHW	Sherwin Williams	Pair Corr
0.44	BGLC	BioNexus Gene Lab	Pair Corr
0.39	BCPC	Balchem	Pair Corr
0.38	AXTA	Axalta Coating Systems	Pair Corr

Related Correlations Analysis

	IOSP	FUL	KWR	MTX	NTIC	ODC	OEC	KOP	SXT	HWKN
IOSP		0.74	0.37	0.95	0.53	-0.74	0.57	0.56	0.36	0.65	IOSP
FUL	0.74		0.5	0.87	0.85	-0.62	0.82	0.65	0.11	0.84	FUL
KWR	0.37	0.5		0.39	0.13	-0.38	0.39	0.33	0.2	0.27	KWR
MTX	0.95	0.87	0.39		0.71	-0.71	0.71	0.66	0.25	0.78	MTX
NTIC	0.53	0.85	0.13	0.71		-0.45	0.83	0.65	-0.2	0.81	NTIC
ODC	-0.74	-0.62	-0.38	-0.71	-0.45		-0.55	-0.35	0.05	-0.43	ODC
OEC	0.57	0.82	0.39	0.71	0.83	-0.55		0.8	-0.18	0.77	OEC
KOP	0.56	0.65	0.33	0.66	0.65	-0.35	0.8		-0.05	0.69	KOP
SXT	0.36	0.11	0.2	0.25	-0.2	0.05	-0.18	-0.05		0.17	SXT
HWKN	0.65	0.84	0.27	0.78	0.81	-0.43	0.77	0.69	0.17		HWKN
	IOSP	FUL	KWR	MTX	NTIC	ODC	OEC	KOP	SXT	HWKN

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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

MTX	+ 0.95	IOSP
MTX	+ 0.87	FUL
NTIC	+ 0.85	FUL
HWKN	+ 0.84	FUL
OEC	+ 0.83	NTIC
OEC	+ 0.82	FUL

High negative correlations

ODC	- 0.74	IOSP
ODC	- 0.71	MTX
ODC	- 0.62	FUL
OEC	- 0.55	ODC
ODC	- 0.45	NTIC
HWKN	- 0.43	ODC

Risk-Adjusted Indicators

There is a big difference between Core Stock performing well and Core Molding 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 Core Molding'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
IOSP	1.26	(0.16)	0.00	(0.19)	0.00	0.00	2.36	(2.45)	10.25
FUL	1.29	(0.43)	0.00	1.34	0.00	0.00	1.85	(3.00)	8.25
KWR	1.57	(0.16)	0.00	(0.95)	0.00	0.00	2.99	(4.00)	8.76
MTX	1.06	(0.21)	0.00	(0.25)	0.00	0.00	1.80	(1.97)	5.89
NTIC	1.40	(0.33)	0.00	(0.43)	0.00	0.00	2.12	(3.21)	9.37
ODC	1.55	0.08	0.04	0.08	2.04	(1.58)	2.59	(3.09)	13.42
OEC	1.76	(0.24)	0.00	(0.23)	0.00	0.00	3.34	(3.29)	10.69
KOP	1.82	(0.11)	0.00	(0.10)	0.00	0.00	3.12	(4.44)	13.37
SXT	1.19	(0.05)	0.00	0.14	0.00	0.00	2.33	(2.24)	11.22
HWKN	1.91	(0.13)	0.00	(0.11)	0.00	0.00	3.42	(3.21)	12.24

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