Linde Plc Correlations

LIN Stock

USD 458.33 0.58 0.13%

The current 90-days correlation between Linde plc Ordinary and PPG Industries is 0.48 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Linde Plc moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Linde plc Ordinary moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Linde Plc Correlation With Market

Very weak diversification

The correlation between Linde plc Ordinary and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Linde plc Ordinary and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Linde plc Ordinary. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Linde Stock

0.9	ECL	Ecolab Inc	Pair Corr
0.7	EMN	Eastman Chemical	Pair Corr
0.78	FSI	Flexible Solutions Earnings Call This Week	Pair Corr

Moving against Linde Stock

0.88	FEAM	5E Advanced Materials	Pair Corr
0.83	OLN	Olin	Pair Corr
0.82	CMT	Core Molding Technologies	Pair Corr
0.78	ASH	Ashland Global Holdings	Pair Corr
0.75	ALB	Albemarle Corp	Pair Corr
0.74	FUL	H B Fuller Earnings Call This Week	Pair Corr
0.7	FF	FutureFuel Corp	Pair Corr
0.69	ALB-PA	Albemarle	Pair Corr
0.69	PRM	Perimeter Solutions	Pair Corr
0.68	OEC	Orion Engineered Carbons	Pair Corr
0.65	MTX	Minerals Technologies	Pair Corr
0.61	CBT	Cabot	Pair Corr
0.59	KOP	Koppers Holdings	Pair Corr
0.57	KRO	Kronos Worldwide	Pair Corr
0.57	SCL	Stepan Company	Pair Corr
0.47	CC	Chemours	Pair Corr
0.44	PPG	PPG Industries	Pair Corr
0.36	IFF	International Flavors	Pair Corr
0.88	NTIC	Northern Technologies	Pair Corr
0.87	SDSTW	Stardust Power Symbol Change	Pair Corr
0.87	SDST	Stardust Power Symbol Change	Pair Corr
0.86	CNEY	CN Energy Group	Pair Corr
0.8	MATV	Mativ Holdings	Pair Corr
0.76	AVTR	Avantor	Pair Corr
0.74	HWKN	Hawkins	Pair Corr
0.68	GEVO	Gevo Inc	Pair Corr
0.65	LWLG	Lightwave Logic	Pair Corr

Related Correlations Analysis

	PPG	ECL	SHW	LYB	APD	RPM	EMN	SQM	LTHM
PPG		-0.33	0.31	0.26	0.18	0.8	-0.13	-0.35	0.0	PPG
ECL	-0.33		0.48	0.44	0.39	-0.14	0.7	0.33	0.0	ECL
SHW	0.31	0.48		0.65	0.79	0.6	0.66	-0.14	0.0	SHW
LYB	0.26	0.44	0.65		0.78	0.33	0.65	0.18	0.0	LYB
APD	0.18	0.39	0.79	0.78		0.46	0.67	-0.02	0.0	APD
RPM	0.8	-0.14	0.6	0.33	0.46		0.19	-0.56	0.0	RPM
EMN	-0.13	0.7	0.66	0.65	0.67	0.19		-0.05	0.0	EMN
SQM	-0.35	0.33	-0.14	0.18	-0.02	-0.56	-0.05		0.0	SQM
LTHM	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		LTHM
	PPG	ECL	SHW	LYB	APD	RPM	EMN	SQM	LTHM

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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

RPM	+ 0.8	PPG
APD	+ 0.79	SHW
APD	+ 0.78	LYB
EMN	+ 0.7	ECL
EMN	+ 0.67	APD
EMN	+ 0.66	SHW

High negative correlations

SQM	- 0.56	RPM
SQM	- 0.35	PPG
ECL	- 0.33	PPG
SQM	- 0.14	SHW
RPM	- 0.14	ECL
EMN	- 0.13	PPG

Risk-Adjusted Indicators

There is a big difference between Linde Stock performing well and Linde Plc 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 Linde Plc'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
PPG	1.15	(0.11)	0.00	(0.22)	0.00	0.00	2.60	(2.18)	8.61
ECL	0.90	0.06	0.06	0.02	1.16	(0.90)	1.63	(1.60)	8.71
SHW	1.05	(0.07)	0.00	(0.15)	0.00	0.00	1.98	(2.02)	4.87
LYB	1.14	(0.02)	0.00	(0.10)	0.00	0.00	2.12	(2.39)	8.13
APD	1.12	(0.04)	0.00	(0.12)	0.00	0.00	2.38	(1.85)	8.35
RPM	1.02	(0.16)	0.00	(0.27)	0.00	0.00	1.73	(2.25)	5.54
EMN	1.29	(0.07)	0.00	(0.15)	0.00	0.00	2.44	(2.60)	11.00
SQM	1.75	0.26	0.14	1.48	1.91	(1.94)	5.04	(3.65)	11.25
LTHM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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