Huntsman Correlations

HUN Stock

USD 17.44 0.22 1.25%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Huntsman moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Huntsman moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Huntsman Correlation With Market

Weak diversification

The correlation between Huntsman and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huntsman and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Huntsman. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

To learn how to invest in Huntsman Stock, please use our How to Invest in Huntsman guide.

Moving together with Huntsman Stock

0.64	AA	Alcoa Corp	Pair Corr
0.68	IE	Ivanhoe Electric	Pair Corr
0.81	WS	Worthington Steel Earnings Call Today	Pair Corr
0.77	CMC	Commercial Metals Earnings Call Today	Pair Corr
0.68	DOW	Dow Inc	Pair Corr
0.7	FCX	Freeport McMoran Copper Aggressive Push	Pair Corr
0.79	GGB	Gerdau SA ADR	Pair Corr

Moving against Huntsman Stock

0.4	AU	AngloGold Ashanti plc Buyout Trend	Pair Corr
0.38	AEM	Agnico Eagle Mines	Pair Corr
0.32	X	United States Steel Buyout Trend	Pair Corr
0.47	FNV	Franco Nevada	Pair Corr
0.4	GFI	Gold Fields Buyout Trend	Pair Corr
0.35	AGI	Alamos Gold	Pair Corr
0.33	EQX	Equinox Gold Corp	Pair Corr
0.46	KGC	Kinross Gold Aggressive Push	Pair Corr
0.38	HMY	Harmony Gold Mining	Pair Corr
0.35	IAG	IAMGold	Pair Corr

Related Correlations Analysis

	VHI	UNVR	LXU	WLKP	BAK	DOW	ASIX	MEOH	SIRE	GPRE
VHI		0.0	0.73	-0.47	0.47	0.82	0.65	0.68	0.0	0.95	VHI
UNVR	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	UNVR
LXU	0.73	0.0		0.02	0.71	0.71	0.86	0.67	0.0	0.65	LXU
WLKP	-0.47	0.0	0.02		0.39	-0.23	0.18	-0.18	0.0	-0.52	WLKP
BAK	0.47	0.0	0.71	0.39		0.58	0.85	0.55	0.0	0.36	BAK
DOW	0.82	0.0	0.71	-0.23	0.58		0.72	0.52	0.0	0.77	DOW
ASIX	0.65	0.0	0.86	0.18	0.85	0.72		0.76	0.0	0.6	ASIX
MEOH	0.68	0.0	0.67	-0.18	0.55	0.52	0.76		0.0	0.69	MEOH
SIRE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SIRE
GPRE	0.95	0.0	0.65	-0.52	0.36	0.77	0.6	0.69	0.0		GPRE
	VHI	UNVR	LXU	WLKP	BAK	DOW	ASIX	MEOH	SIRE	GPRE

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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

GPRE	+ 0.95	VHI
ASIX	+ 0.86	LXU
ASIX	+ 0.85	BAK
DOW	+ 0.82	VHI
GPRE	+ 0.77	DOW
MEOH	+ 0.76	ASIX

High negative correlations

GPRE	- 0.52	WLKP
WLKP	- 0.47	VHI
DOW	- 0.23	WLKP
MEOH	- 0.18	WLKP
GPRE	- 0.0	SIRE
SIRE	- 0.0	MEOH

Risk-Adjusted Indicators

There is a big difference between Huntsman Stock performing well and Huntsman 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 Huntsman'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VHI	2.06	(0.41)	(0.92)	3.61	(6.07)	12.93
UNVR	0.00	0.00	0.00	0.00	0.00	0.00
LXU	2.10	(0.16)	(0.23)	3.41	(4.59)	27.77
WLKP	0.61	(0.01)	(0.49)	1.37	(1.25)	3.08
BAK	3.01	(0.12)	(0.19)	5.61	(5.91)	22.64
DOW	1.42	(0.11)	(0.27)	2.71	(2.61)	9.12
ASIX	1.68	(0.27)	(0.31)	2.44	(3.75)	14.24
MEOH	1.70	(0.21)	(0.27)	2.97	(3.34)	16.72
SIRE	0.00	0.00	0.00	0.00	0.00	0.00
GPRE	3.50	(0.79)	(0.73)	6.31	(7.58)	26.78

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