PPG Industries Correlations

PPG Stock

USD 111.26 1.84 1.63%

The current 90-days correlation between PPG Industries and Air Products and is 0.31 (i.e., Weak diversification). The correlation of PPG Industries 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.

PPG Industries Correlation With Market

Very weak diversification

The correlation between PPG Industries and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PPG Industries and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PPG Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

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

Moving together with PPG Stock

0.64	CC	Chemours	Pair Corr
0.7	FF	FutureFuel Corp	Pair Corr
0.75	ALB-PA	Albemarle	Pair Corr
0.74	ALB	Albemarle Corp	Pair Corr
0.74	ASH	Ashland Global Holdings	Pair Corr
0.72	CBT	Cabot	Pair Corr
0.65	CMT	Core Molding Technologies	Pair Corr
0.72	FUL	H B Fuller Earnings Call This Week	Pair Corr
0.7	IFF	International Flavors	Pair Corr
0.74	KOP	Koppers Holdings	Pair Corr
0.71	KRO	Kronos Worldwide	Pair Corr
0.63	KWR	Quaker Chemical	Pair Corr
0.72	MTX	Minerals Technologies	Pair Corr
0.7	OEC	Orion Engineered Carbons	Pair Corr
0.8	OLN	Olin	Pair Corr
0.68	PRM	Perimeter Solutions	Pair Corr
0.8	RPM	RPM International	Pair Corr
0.75	SCL	Stepan Company	Pair Corr
0.86	WLK	Westlake Chemical	Pair Corr

Moving against PPG Stock

0.41	BSLKW	Bolt Projects Holdings, Symbol Change	Pair Corr
0.33	ECL	Ecolab Inc	Pair Corr
0.41	LIN	Linde plc Ordinary	Pair Corr

Related Correlations Analysis

	APD	LIN	ECL	LYB	SHW	ALB	EMN	FUL	WLK	KWR
APD		0.5	0.4	0.78	0.76	-0.06	0.65	-0.09	0.3	0.32	APD
LIN	0.5		0.91	0.58	0.48	-0.69	0.73	-0.69	-0.41	0.01	LIN
ECL	0.4	0.91		0.46	0.47	-0.65	0.71	-0.58	-0.34	0.17	ECL
LYB	0.78	0.58	0.46		0.62	-0.04	0.64	-0.19	0.29	0.33	LYB
SHW	0.76	0.48	0.47	0.62		0.01	0.66	0.13	0.44	0.59	SHW
ALB	-0.06	-0.69	-0.65	-0.04	0.01		-0.28	0.84	0.79	0.44	ALB
EMN	0.65	0.73	0.71	0.64	0.66	-0.28		-0.14	0.03	0.47	EMN
FUL	-0.09	-0.69	-0.58	-0.19	0.13	0.84	-0.14		0.76	0.62	FUL
WLK	0.3	-0.41	-0.34	0.29	0.44	0.79	0.03	0.76		0.65	WLK
KWR	0.32	0.01	0.17	0.33	0.59	0.44	0.47	0.62	0.65		KWR
	APD	LIN	ECL	LYB	SHW	ALB	EMN	FUL	WLK	KWR

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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

ECL	+ 0.91	LIN
FUL	+ 0.84	ALB
WLK	+ 0.79	ALB
LYB	+ 0.78	APD
SHW	+ 0.76	APD
WLK	+ 0.76	FUL

High negative correlations

FUL	- 0.69	LIN
ALB	- 0.69	LIN
ALB	- 0.65	ECL
FUL	- 0.58	ECL
WLK	- 0.41	LIN
WLK	- 0.34	ECL

Risk-Adjusted Indicators

There is a big difference between PPG Stock performing well and PPG Industries 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 PPG Industries' 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
APD	1.13	(0.02)	0.00	(0.10)	0.00	0.00	2.38	(1.85)	8.35
LIN	0.81	0.10	0.16	0.13	0.80	(0.93)	1.81	(1.43)	3.68
ECL	0.91	0.11	0.11	0.09	1.15	(0.90)	1.63	(1.60)	8.71
LYB	1.11	0.01	0.00	(0.05)	0.00	0.00	2.12	(2.39)	8.13
SHW	1.06	(0.09)	0.00	(0.18)	0.00	0.00	1.98	(2.02)	4.87
ALB	2.07	(0.30)	0.00	(0.42)	0.00	0.00	3.47	(4.44)	14.94
EMN	1.28	(0.03)	0.00	(0.11)	0.00	0.00	2.44	(2.60)	11.00
FUL	1.26	(0.43)	0.00	(0.65)	0.00	0.00	1.85	(3.00)	8.25
WLK	1.23	(0.19)	0.00	(0.34)	0.00	0.00	2.38	(2.79)	6.30
KWR	1.58	(0.17)	0.00	(0.25)	0.00	0.00	2.99	(4.00)	8.76

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