ICL Israel Correlations

ICL Stock

USD 5.89 0.08 1.34%

The current 90-days correlation between ICL Israel Chemicals and CF Industries Holdings is 0.49 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ICL Israel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ICL Israel Chemicals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ICL Israel Correlation With Market

Modest diversification

The correlation between ICL Israel Chemicals and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ICL Israel Chemicals 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 ICL Israel Chemicals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with ICL Stock

0.81	IPI	Intrepid Potash	Pair Corr
0.91	NTR	Nutrien	Pair Corr
0.78	CTVA	Corteva	Pair Corr
0.89	X	United States Steel	Pair Corr
0.86	AU	AngloGold Ashanti plc	Pair Corr
0.62	CX	Cemex SAB de	Pair Corr
0.73	DC	Dakota Gold Corp	Pair Corr
0.9	MP	MP Materials Corp	Pair Corr
0.69	MT	ArcelorMittal SA ADR	Pair Corr
0.69	NB	NioCorp Developments	Pair Corr
0.85	NC	NACCO Industries	Pair Corr
0.76	RS	Reliance Steel Aluminum	Pair Corr

Moving against ICL Stock

0.67	BHIL	Benson Hill, Common	Pair Corr
0.63	LVROW	Lavoro Limited Warrant	Pair Corr
0.58	EU	enCore Energy Corp	Pair Corr
0.53	AA	Alcoa Corp	Pair Corr
0.51	BIOX	Bioceres Crop Solutions	Pair Corr
0.44	FMC	FMC Corporation	Pair Corr
0.43	CE	Celanese	Pair Corr
0.39	LVRO	Lavoro Limited Class	Pair Corr
0.34	SMG	Scotts Miracle Gro	Pair Corr
0.86	IE	Ivanhoe Electric	Pair Corr
0.75	NX	Quanex Building Products	Pair Corr
0.71	WS	Worthington Steel	Pair Corr
0.56	TT	Trane Technologies plc	Pair Corr
0.55	HYMCW	Hycroft Mining Holding	Pair Corr
0.5	WDFC	WD 40 Company	Pair Corr
0.49	FF	FutureFuel Corp	Pair Corr
0.47	ELBM	Electra Battery Materials	Pair Corr
0.44	WTTR	Select Energy Services	Pair Corr
0.39	NG	NovaGold Resources Earnings Call This Week	Pair Corr
0.38	FBIN	Fortune Brands Innov	Pair Corr

Related Correlations Analysis

	CF	MOS	AVD	UAN	IPI	BIOX	CTA-PB	FMC	BHIL	NTR
CF		0.42	0.39	0.54	-0.04	0.88	-0.56	0.77	0.7	0.01	CF
MOS	0.42		0.69	0.76	0.75	0.26	0.13	0.28	-0.02	0.69	MOS
AVD	0.39	0.69		0.71	0.42	0.21	0.11	0.11	0.13	0.6	AVD
UAN	0.54	0.76	0.71		0.62	0.3	0.21	0.28	0.05	0.72	UAN
IPI	-0.04	0.75	0.42	0.62		-0.25	0.59	-0.06	-0.51	0.86	IPI
BIOX	0.88	0.26	0.21	0.3	-0.25		-0.7	0.86	0.82	-0.27	BIOX
CTA-PB	-0.56	0.13	0.11	0.21	0.59	-0.7		-0.55	-0.73	0.66	CTA-PB
FMC	0.77	0.28	0.11	0.28	-0.06	0.86	-0.55		0.69	-0.18	FMC
BHIL	0.7	-0.02	0.13	0.05	-0.51	0.82	-0.73	0.69		-0.51	BHIL
NTR	0.01	0.69	0.6	0.72	0.86	-0.27	0.66	-0.18	-0.51		NTR
	CF	MOS	AVD	UAN	IPI	BIOX	CTA-PB	FMC	BHIL	NTR

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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

BIOX	+ 0.88	CF
NTR	+ 0.86	IPI
FMC	+ 0.86	BIOX
BHIL	+ 0.82	BIOX
FMC	+ 0.77	CF
UAN	+ 0.76	MOS

High negative correlations

BHIL	- 0.73	CTA-PB
CTA-PB	- 0.7	BIOX
CTA-PB	- 0.56	CF
FMC	- 0.55	CTA-PB
NTR	- 0.51	BHIL
BHIL	- 0.51	IPI

Risk-Adjusted Indicators

There is a big difference between ICL Stock performing well and ICL Israel 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 ICL Israel'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
CF	1.67	(0.15)	0.00	(0.27)	0.00	0.00	2.51	(4.59)	15.08
MOS	1.87	0.15	0.07	0.11	2.09	(2.09)	3.59	(3.58)	12.77
AVD	2.83	(0.08)	0.00	(0.13)	0.00	0.00	6.77	(6.27)	15.45
UAN	1.08	0.09	0.07	0.06	1.34	(1.10)	1.97	(1.80)	9.48
IPI	2.22	0.34	0.12	0.19	2.38	(2.48)	6.96	(3.69)	16.60
BIOX	3.43	(0.50)	0.00	(1.07)	0.00	0.00	8.70	(8.05)	26.87
CTA-PB	0.54	0.04	0.12	0.08	0.66	(0.61)	1.24	(1.00)	5.85
FMC	2.13	(0.24)	0.00	(3.55)	0.00	0.00	3.85	(3.69)	38.47
BHIL	8.89	(1.21)	0.00	(0.47)	0.00	0.00	19.50	(17.07)	160.98
NTR	1.50	0.21	0.13	0.20	1.57	(1.81)	3.42	(2.67)	10.90

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