Dow Correlations

DOW Stock

USD 36.17 0.44 1.20%

The current 90-days correlation between Dow Inc and Braskem SA Class is -0.05 (i.e., Good diversification). The correlation of Dow 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.

Dow Correlation With Market

Average diversification

The correlation between Dow Inc and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dow Inc and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Dow Inc. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Dow Stock

0.63	AA	Alcoa Corp	Pair Corr
0.64	WS	Worthington Steel	Pair Corr
0.64	LXU	Lsb Industries	Pair Corr
0.79	VHI	Valhi Inc	Pair Corr
0.68	ASIX	AdvanSix	Pair Corr
0.69	ASTL	Algoma Steel Group	Pair Corr
0.71	TROX	Tronox Holdings PLC	Pair Corr
0.62	CTGO	Contango ORE	Pair Corr
0.72	CC	Chemours Potential Growth	Pair Corr
0.62	CE	Celanese	Pair Corr
0.62	CF	CF Industries Holdings	Pair Corr

Moving against Dow Stock

0.69	AGI	Alamos Gold	Pair Corr
0.65	GFI	Gold Fields	Pair Corr
0.63	AEM	Agnico Eagle Mines	Pair Corr
0.53	KGC	Kinross Gold Aggressive Push	Pair Corr
0.52	HMY	Harmony Gold Mining	Pair Corr
0.47	X	United States Steel	Pair Corr
0.65	GOLD	Barrick Gold Corp	Pair Corr
0.6	USAU	US Gold Corp	Pair Corr
0.59	AU	AngloGold Ashanti plc	Pair Corr
0.44	NGD	New Gold	Pair Corr
0.42	AUST	Austin Gold Corp	Pair Corr
0.38	AG	First Majestic Silver Aggressive Push	Pair Corr
0.33	PKX	POSCO Holdings	Pair Corr
0.32	GURE	Gulf Resources	Pair Corr
0.64	DC	Dakota Gold Corp	Pair Corr
0.63	MT	ArcelorMittal SA ADR	Pair Corr
0.6	MP	MP Materials Corp	Pair Corr
0.46	NC	NACCO Industries	Pair Corr

Related Correlations Analysis

	HUN	BAK	UNVR	ASIX	TROX	CE	GPRE	LXU	BFFAF	VHI
HUN		0.16	0.0	0.22	0.31	0.22	0.35	0.2	-0.09	0.4	HUN
BAK	0.16		0.0	0.81	0.51	0.56	0.31	0.69	-0.14	0.42	BAK
UNVR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	UNVR
ASIX	0.22	0.81	0.0		0.73	0.69	0.62	0.84	-0.53	0.63	ASIX
TROX	0.31	0.51	0.0	0.73		0.89	0.87	0.72	-0.8	0.88	TROX
CE	0.22	0.56	0.0	0.69	0.89		0.81	0.76	-0.71	0.87	CE
GPRE	0.35	0.31	0.0	0.62	0.87	0.81		0.64	-0.84	0.95	GPRE
LXU	0.2	0.69	0.0	0.84	0.72	0.76	0.64		-0.53	0.72	LXU
BFFAF	-0.09	-0.14	0.0	-0.53	-0.8	-0.71	-0.84	-0.53		-0.79	BFFAF
VHI	0.4	0.42	0.0	0.63	0.88	0.87	0.95	0.72	-0.79		VHI
	HUN	BAK	UNVR	ASIX	TROX	CE	GPRE	LXU	BFFAF	VHI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VHI	+ 0.95	GPRE
CE	+ 0.89	TROX
VHI	+ 0.88	TROX
GPRE	+ 0.87	TROX
VHI	+ 0.87	CE
LXU	+ 0.84	ASIX

High negative correlations

BFFAF	- 0.84	GPRE
BFFAF	- 0.8	TROX
VHI	- 0.79	BFFAF
BFFAF	- 0.71	CE
BFFAF	- 0.53	LXU
BFFAF	- 0.53	ASIX

Risk-Adjusted Indicators

There is a big difference between Dow Stock performing well and Dow 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 Dow'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
HUN	1.76	(0.13)	0.00	(0.24)	0.00	0.00	3.63	(3.61)	13.93
BAK	2.92	(0.20)	0.00	(0.24)	0.00	0.00	5.61	(5.50)	22.64
UNVR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ASIX	1.73	(0.32)	0.00	(0.33)	0.00	0.00	2.44	(3.75)	14.24
TROX	2.39	(0.38)	0.00	(0.33)	0.00	0.00	4.34	(5.62)	16.13
CE	2.23	(0.15)	0.00	(0.24)	0.00	0.00	4.23	(4.01)	26.83
GPRE	3.58	(0.89)	0.00	(0.74)	0.00	0.00	6.31	(7.58)	26.78
LXU	2.13	(0.17)	0.00	(0.21)	0.00	0.00	3.41	(4.59)	27.77
BFFAF	1.97	0.28	0.14	(0.62)	1.96	(3.27)	5.57	(4.36)	19.00
VHI	2.17	(0.33)	0.00	(0.60)	0.00	0.00	3.65	(6.06)	12.94

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