Ingevity Corp Correlations

NGVT Stock

USD 43.14 1.11 2.51%

The current 90-days correlation between Ingevity Corp and H B Fuller is 0.21 (i.e., Modest diversification). The correlation of Ingevity Corp 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.

Ingevity Corp Correlation With Market

Very weak diversification

The correlation between Ingevity Corp and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ingevity Corp 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 Ingevity Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

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

Moving together with Ingevity Stock

0.66	DD	Dupont De Nemours	Pair Corr
0.68	APD	Air Products	Pair Corr
0.7	ECL	Ecolab Inc	Pair Corr
0.63	EMN	Eastman Chemical	Pair Corr
0.72	FSI	Flexible Solutions Earnings Call This Week	Pair Corr
0.72	LIN	Linde plc Ordinary	Pair Corr
0.73	LYB	LyondellBasell Industries	Pair Corr
0.73	SHW	Sherwin Williams	Pair Corr

Moving against Ingevity Stock

0.62	FEAM	5E Advanced Materials Trending	Pair Corr
0.47	CMT	Core Molding Technologies	Pair Corr

Related Correlations Analysis

	FUL	MTX	KWR	ODC	SXT	IOSP	ECVT	ESI	OEC	HWKN
FUL		0.89	0.62	-0.45	0.32	0.76	0.36	0.26	0.9	0.91	FUL
MTX	0.89		0.53	-0.59	0.47	0.94	0.56	0.21	0.75	0.83	MTX
KWR	0.62	0.53		-0.26	0.4	0.51	0.44	0.56	0.65	0.53	KWR
ODC	-0.45	-0.59	-0.26		0.05	-0.65	-0.7	0.0	-0.37	-0.31	ODC
SXT	0.32	0.47	0.4	0.05		0.55	0.19	0.25	0.13	0.36	SXT
IOSP	0.76	0.94	0.51	-0.65	0.55		0.63	0.18	0.59	0.68	IOSP
ECVT	0.36	0.56	0.44	-0.7	0.19	0.63		0.3	0.38	0.32	ECVT
ESI	0.26	0.21	0.56	0.0	0.25	0.18	0.3		0.5	0.32	ESI
OEC	0.9	0.75	0.65	-0.37	0.13	0.59	0.38	0.5		0.86	OEC
HWKN	0.91	0.83	0.53	-0.31	0.36	0.68	0.32	0.32	0.86		HWKN
	FUL	MTX	KWR	ODC	SXT	IOSP	ECVT	ESI	OEC	HWKN

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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

IOSP	+ 0.94	MTX
HWKN	+ 0.91	FUL
OEC	+ 0.9	FUL
MTX	+ 0.89	FUL
HWKN	+ 0.86	OEC
HWKN	+ 0.83	MTX

High negative correlations

ECVT	- 0.7	ODC
IOSP	- 0.65	ODC
ODC	- 0.59	MTX
ODC	- 0.45	FUL
OEC	- 0.37	ODC
HWKN	- 0.31	ODC

Risk-Adjusted Indicators

There is a big difference between Ingevity Stock performing well and Ingevity Corp 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 Ingevity Corp'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
FUL	1.26	(0.43)	0.00	(0.65)	0.00	0.00	1.85	(3.00)	8.25
MTX	1.05	(0.18)	0.00	(0.31)	0.00	0.00	1.80	(1.97)	5.89
KWR	1.58	(0.17)	0.00	(0.25)	0.00	0.00	2.99	(4.00)	8.76
ODC	1.52	0.25	0.13	0.31	1.96	(1.61)	2.59	(3.33)	13.42
SXT	1.17	0.01	0.00	(0.06)	0.00	0.00	2.33	(2.24)	11.22
IOSP	1.27	(0.19)	0.00	(0.32)	0.00	0.00	2.34	(3.23)	10.25
ECVT	1.63	(0.07)	0.00	(0.16)	0.00	0.00	2.88	(2.66)	17.46
ESI	1.18	(0.02)	0.00	(0.10)	0.00	0.00	2.54	(2.42)	7.56
OEC	1.77	(0.27)	0.00	(0.35)	0.00	0.00	3.34	(3.55)	10.69
HWKN	2.02	(0.27)	0.00	(0.32)	0.00	0.00	3.42	(4.05)	12.24

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