Minerals Technologies Correlations

MTX Stock

USD 65.13 2.04 3.04%

The current 90-days correlation between Minerals Technologies and Quaker Chemical is 0.53 (i.e., Very weak diversification). The correlation of Minerals Technologies 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.

Minerals Technologies Correlation With Market

Very weak diversification

The correlation between Minerals Technologies 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 Minerals Technologies 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 Minerals Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Minerals Stock please use our How to Invest in Minerals Technologies guide.

Moving together with Minerals Stock

0.88	CC	Chemours Potential Growth	Pair Corr
0.92	FF	FutureFuel Corp	Pair Corr
0.62	ECVT	Ecovyst	Pair Corr
0.83	WTTR	Select Energy Services	Pair Corr
0.73	FEAM	5E Advanced Materials Trending	Pair Corr
0.76	ALB-PA	Albemarle	Pair Corr
0.8	ALB	Albemarle Corp	Pair Corr
0.86	ASH	Ashland Global Holdings	Pair Corr
0.78	CBT	Cabot	Pair Corr
0.7	CMT	Core Molding Technologies	Pair Corr
0.89	FUL	H B Fuller Earnings Call Tomorrow	Pair Corr
0.87	IFF	International Flavors	Pair Corr
0.66	KOP	Koppers Holdings Downward Rally	Pair Corr
0.95	KRO	Kronos Worldwide	Pair Corr
0.73	OEC	Orion Engineered Carbons	Pair Corr
0.9	OLN	Olin	Pair Corr
0.72	PPG	PPG Industries	Pair Corr
0.93	PRM	Perimeter Solutions	Pair Corr
0.75	RPM	RPM International	Pair Corr
0.83	SCL	Stepan Company	Pair Corr
0.66	SSL	Sasol	Pair Corr
0.79	WLK	Westlake Chemical	Pair Corr

Moving against Minerals Stock

0.65	LIN	Linde plc Ordinary	Pair Corr
0.62	ECL	Ecolab Inc	Pair Corr
0.54	NEU	NewMarket	Pair Corr
0.41	BSLKW	Bolt Projects Holdings, Symbol Change	Pair Corr
0.67	AU	AngloGold Ashanti plc	Pair Corr
0.63	SQM	Sociedad Quimica y	Pair Corr
0.6	X	United States Steel	Pair Corr
0.42	AG	First Majestic Silver Aggressive Push	Pair Corr
0.39	HDSN	Hudson Technologies	Pair Corr
0.36	BCPC	Balchem	Pair Corr

Related Correlations Analysis

	KWR	IOSP	FUL	CBT	ODC	SXT	NTIC
KWR		0.5	0.57	0.58	-0.29	0.31	0.28	KWR
IOSP	0.5		0.76	0.66	-0.68	0.49	0.55	IOSP
FUL	0.57	0.76		0.9	-0.49	0.23	0.89	FUL
CBT	0.58	0.66	0.9		-0.3	0.26	0.85	CBT
ODC	-0.29	-0.68	-0.49	-0.3		0.09	-0.34	ODC
SXT	0.31	0.49	0.23	0.26	0.09		-0.02	SXT
NTIC	0.28	0.55	0.89	0.85	-0.34	-0.02		NTIC
	KWR	IOSP	FUL	CBT	ODC	SXT	NTIC

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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

CBT	+ 0.9	FUL
NTIC	+ 0.89	FUL
NTIC	+ 0.85	CBT
FUL	+ 0.76	IOSP
CBT	+ 0.66	IOSP
CBT	+ 0.58	KWR

High negative correlations

ODC	- 0.68	IOSP
ODC	- 0.49	FUL
NTIC	- 0.34	ODC
ODC	- 0.3	CBT
ODC	- 0.29	KWR
NTIC	- 0.02	SXT

Risk-Adjusted Indicators

There is a big difference between Minerals Stock performing well and Minerals Technologies 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 Minerals Technologies' 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
KWR	1.57	(0.17)	0.00	(0.26)	0.00	0.00	2.99	(4.00)	8.76
IOSP	1.29	(0.23)	0.00	(0.35)	0.00	0.00	2.34	(3.23)	10.25
FUL	1.27	(0.42)	0.00	(0.62)	0.00	0.00	1.85	(3.00)	8.25
CBT	1.25	(0.29)	0.00	(0.49)	0.00	0.00	2.07	(3.21)	8.68
ODC	1.59	0.14	0.08	0.15	2.07	(1.65)	2.59	(3.33)	13.42
SXT	1.20	(0.02)	0.00	(0.09)	0.00	0.00	2.33	(2.24)	11.22
NTIC	1.42	(0.32)	0.00	(0.54)	0.00	0.00	2.12	(3.79)	9.37

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