Dow Correlations

DOW Stock

USD 44.64 0.10 0.22%

The current 90-days correlation between Dow Inc and Braskem SA Class is 0.24 (i.e., Modest 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

Very weak diversification

The correlation between Dow Inc and DJI is 0.49 (i.e., Very weak 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

0.91	BAK	Braskem SA Class	Pair Corr
0.68	EGO	Eldorado Gold Corp	Pair Corr
0.9	NEM	Newmont Goldcorp Corp	Pair Corr
0.69	OLN	Olin Fiscal Year End 23rd of January 2025	Pair Corr
0.73	PFH	Prudential Financial 4125	Pair Corr
0.89	PKX	POSCO Holdings	Pair Corr
0.64	SIM	Grupo Simec SAB	Pair Corr
0.85	GOLD	Barrick Gold Corp	Pair Corr
0.72	GURE	Gulf Resources	Pair Corr
0.73	CSTM	Constellium Nv	Pair Corr

Moving against Dow Stock

0.66	WLKP	Westlake Chemical	Pair Corr
0.51	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.39	X	United States Steel	Pair Corr
0.76	ASTL	Algoma Steel Group	Pair Corr
0.74	KALU	Kaiser Aluminum	Pair Corr
0.73	ASTLW	Algoma Steel Group	Pair Corr
0.48	AUST	Austin Gold Corp	Pair Corr
0.75	CENX	Century Aluminum	Pair Corr
0.7	NC	NACCO Industries	Pair Corr

Related Correlations Analysis

	HUN	BAK	UNVR	ASIX	TROX	CE	GPRE	LXU	BFFAF	VHI
HUN		0.86	-0.35	0.03	0.81	0.9	0.52	0.05	0.79	0.52	HUN
BAK	0.86		-0.62	-0.19	0.65	0.85	0.75	-0.36	0.78	0.24	BAK
UNVR	-0.35	-0.62		0.46	-0.39	-0.58	-0.81	0.69	-0.49	0.23	UNVR
ASIX	0.03	-0.19	0.46		0.34	-0.29	-0.19	0.7	0.0	0.28	ASIX
TROX	0.81	0.65	-0.39	0.34		0.72	0.54	0.22	0.7	0.43	TROX
CE	0.9	0.85	-0.58	-0.29	0.72		0.66	-0.21	0.77	0.38	CE
GPRE	0.52	0.75	-0.81	-0.19	0.54	0.66		-0.5	0.65	-0.02	GPRE
LXU	0.05	-0.36	0.69	0.7	0.22	-0.21	-0.5		-0.07	0.51	LXU
BFFAF	0.79	0.78	-0.49	0.0	0.7	0.77	0.65	-0.07		0.47	BFFAF
VHI	0.52	0.24	0.23	0.28	0.43	0.38	-0.02	0.51	0.47		VHI
	HUN	BAK	UNVR	ASIX	TROX	CE	GPRE	LXU	BFFAF	VHI

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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

CE	+ 0.9	HUN
BAK	+ 0.86	HUN
CE	+ 0.85	BAK
TROX	+ 0.81	HUN
BFFAF	+ 0.79	HUN
BFFAF	+ 0.78	BAK

High negative correlations

GPRE	- 0.81	UNVR
UNVR	- 0.62	BAK
CE	- 0.58	UNVR
LXU	- 0.5	GPRE
BFFAF	- 0.49	UNVR
TROX	- 0.39	UNVR

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	1.32	(0.25)	0.00	(0.22)	0.00	0.00	2.75	(3.35)	10.23
BAK	2.01	(0.29)	0.00	5.09	0.00	0.00	4.69	(4.63)	13.72
UNVR	0.12	0.01	(0.76)	1.03	0.00	(0.15)	0.31	(0.22)	0.79
ASIX	1.50	(0.11)	(0.01)	0.06	1.63	(1.72)	3.06	(2.64)	9.70
TROX	2.25	(0.41)	0.00	(0.11)	0.00	0.00	5.18	(4.98)	17.98
CE	2.05	(0.87)	0.00	(1.48)	0.00	0.00	2.94	(4.77)	33.85
GPRE	3.03	(0.33)	0.00	2.09	0.00	0.00	5.47	(7.90)	19.80
LXU	2.02	(0.08)	0.01	0.08	2.24	(2.24)	4.56	(4.10)	18.88
BFFAF	1.70	(0.17)	0.00	(0.44)	0.00	0.00	3.56	(4.93)	15.05
VHI	3.52	(0.32)	0.00	(0.04)	0.00	0.00	8.00	(7.20)	39.49

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