Methanex Correlations

MEOH Stock

USD 37.74 0.08 0.21%

The correlation of Methanex 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.

Methanex Correlation With Market

Very weak diversification

The correlation between Methanex and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Methanex 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 Methanex. 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.

For more detail on how to invest in Methanex Stock please use our How to Invest in Methanex guide.

Moving together with Methanex Stock

0.8	CE	Celanese	Pair Corr
0.68	ERO	Ero Copper Corp	Pair Corr
0.67	HBM	Hudbay Minerals	Pair Corr

Moving against Methanex Stock

0.75	MT	ArcelorMittal SA ADR	Pair Corr
0.74	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.74	DRD	DRDGOLD Limited ADR	Pair Corr
0.64	AGI	Alamos Gold	Pair Corr
0.58	DC	Dakota Gold Corp	Pair Corr
0.5	TX	Ternium SA ADR	Pair Corr
0.48	AEM	Agnico Eagle Mines	Pair Corr
0.38	HYMCL	Hycroft Mining Holding	Pair Corr
0.38	EQX	Equinox Gold Corp	Pair Corr
0.37	AU	AngloGold Ashanti plc Buyout Trend	Pair Corr
0.79	PKX	POSCO Holdings	Pair Corr
0.55	GFI	Gold Fields Buyout Trend	Pair Corr
0.52	FNV	Franco Nevada	Pair Corr
0.46	EXK	Endeavour Silver Corp	Pair Corr
0.34	GAU	Galiano Gold	Pair Corr
0.34	NEM	Newmont Goldcorp Corp	Pair Corr

Related Correlations Analysis

	ASIX	LXU	SIRE	UNVR	GPRE	TROX	VHI	HUN	WLKP
ASIX		0.86	0.0	0.0	0.6	0.73	0.65	0.31	0.18	ASIX
LXU	0.86		0.0	0.0	0.65	0.73	0.73	0.3	0.02	LXU
SIRE	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	SIRE
UNVR	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	UNVR
GPRE	0.6	0.65	0.0	0.0		0.87	0.95	0.45	-0.52	GPRE
TROX	0.73	0.73	0.0	0.0	0.87		0.89	0.45	-0.29	TROX
VHI	0.65	0.73	0.0	0.0	0.95	0.89		0.49	-0.47	VHI
HUN	0.31	0.3	0.0	0.0	0.45	0.45	0.49		-0.15	HUN
WLKP	0.18	0.02	0.0	0.0	-0.52	-0.29	-0.47	-0.15		WLKP
	ASIX	LXU	SIRE	UNVR	GPRE	TROX	VHI	HUN	WLKP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
VHI	+ 0.89	TROX
TROX	+ 0.87	GPRE
LXU	+ 0.86	ASIX
TROX	+ 0.73	ASIX
TROX	+ 0.73	LXU

High negative correlations

WLKP	- 0.52	GPRE
WLKP	- 0.47	VHI
WLKP	- 0.29	TROX
WLKP	- 0.15	HUN
WLKP	- 0.0	UNVR
HUN	- 0.0	UNVR

Risk-Adjusted Indicators

There is a big difference between Methanex Stock performing well and Methanex 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 Methanex'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
ASIX	1.68	(0.27)	(0.31)	2.44	(3.75)	14.24
LXU	2.10	(0.16)	(0.23)	3.41	(4.59)	27.77
SIRE	0.00	0.00	0.00	0.00	0.00	0.00
UNVR	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
TROX	2.51	(0.55)	(0.45)	4.34	(5.62)	16.13
VHI	2.06	(0.41)	(0.92)	3.61	(6.07)	12.93
HUN	1.72	(0.07)	(0.16)	3.63	(3.27)	13.93
WLKP	0.61	(0.01)	(0.49)	1.37	(1.25)	3.08

Methanex Corporate Management

Vanessa James	Sr. VP of Global Marketing and Logistics	Profile
Karine Delbarre	Senior Logistics	Profile
Sarah Herriott	Director Relations	Profile
Mark Allard	Senior Solutions	Profile

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