Rayonier Advanced Correlations

RYAM Stock

USD 7.29 0.37 4.83%

The current 90-days correlation between Rayonier Advanced and Methanex is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Rayonier Advanced moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Rayonier Advanced Materials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Rayonier Advanced Correlation With Market

Significant diversification

The correlation between Rayonier Advanced Materials and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rayonier Advanced Materials 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 Rayonier Advanced Materials. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Rayonier Stock

0.65	RS	Reliance Steel Aluminum	Pair Corr
0.61	CMC	Commercial Metals	Pair Corr
0.67	GGB	Gerdau SA ADR	Pair Corr

Moving against Rayonier Stock

0.61	AGI	Alamos Gold	Pair Corr
0.48	AEM	Agnico Eagle Mines	Pair Corr
0.44	AU	AngloGold Ashanti plc	Pair Corr
0.38	BTG	B2Gold Corp	Pair Corr
0.34	CE	Celanese	Pair Corr
0.32	AG	First Majestic Silver	Pair Corr
0.57	FNV	Franco Nevada	Pair Corr
0.44	IDR	Idaho Strategic Resources	Pair Corr
0.44	ODV	Osisko Development Corp	Pair Corr
0.42	GFI	Gold Fields	Pair Corr
0.41	EGO	Eldorado Gold Corp	Pair Corr
0.39	HMY	Harmony Gold Mining	Pair Corr
0.38	NGD	New Gold	Pair Corr
0.34	DRD	DRDGOLD Limited ADR	Pair Corr
0.34	FSM	Fortuna Silver Mines	Pair Corr
0.34	IAG	IAMGold	Pair Corr

Related Correlations Analysis

	MEOH	ASIX	GPRE	TROX	VHI	LXU	HUN	CE	UNVR	WLKP
MEOH		0.72	-0.59	-0.41	-0.75	0.24	-0.62	-0.73	0.66	0.88	MEOH
ASIX	0.72		-0.22	0.01	-0.25	0.4	-0.28	-0.45	0.41	0.6	ASIX
GPRE	-0.59	-0.22		0.73	0.57	-0.43	0.81	0.78	-0.81	-0.75	GPRE
TROX	-0.41	0.01	0.73		0.66	-0.03	0.91	0.83	-0.75	-0.63	TROX
VHI	-0.75	-0.25	0.57	0.66		0.1	0.72	0.74	-0.52	-0.79	VHI
LXU	0.24	0.4	-0.43	-0.03	0.1		-0.21	-0.25	0.36	0.34	LXU
HUN	-0.62	-0.28	0.81	0.91	0.72	-0.21		0.97	-0.86	-0.78	HUN
CE	-0.73	-0.45	0.78	0.83	0.74	-0.25	0.97		-0.85	-0.84	CE
UNVR	0.66	0.41	-0.81	-0.75	-0.52	0.36	-0.86	-0.85		0.76	UNVR
WLKP	0.88	0.6	-0.75	-0.63	-0.79	0.34	-0.78	-0.84	0.76		WLKP
	MEOH	ASIX	GPRE	TROX	VHI	LXU	HUN	CE	UNVR	WLKP

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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

CE	+ 0.97	HUN
HUN	+ 0.91	TROX
WLKP	+ 0.88	MEOH
CE	+ 0.83	TROX
HUN	+ 0.81	GPRE
CE	+ 0.78	GPRE

High negative correlations

UNVR	- 0.86	HUN
UNVR	- 0.85	CE
WLKP	- 0.84	CE
UNVR	- 0.81	GPRE
WLKP	- 0.79	VHI
WLKP	- 0.78	HUN

Risk-Adjusted Indicators

There is a big difference between Rayonier Stock performing well and Rayonier Advanced 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 Rayonier Advanced'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
MEOH	1.30	0.23	0.14	0.83	1.43	(1.47)	3.31	(2.31)	10.28
ASIX	1.46	(0.03)	(0.01)	0.01	1.58	(1.74)	3.06	(2.64)	11.57
GPRE	2.85	(0.39)	0.00	3.25	0.00	0.00	5.47	(7.72)	17.80
TROX	2.26	(0.24)	0.00	(0.18)	0.00	0.00	5.18	(4.60)	17.98
VHI	3.40	(0.25)	0.00	(0.10)	0.00	0.00	7.98	(6.22)	39.51
LXU	2.00	0.05	0.02	0.08	2.21	(2.35)	4.56	(4.10)	19.23
HUN	1.32	(0.32)	0.00	(0.53)	0.00	0.00	2.25	(2.82)	10.23
CE	2.09	(0.87)	0.00	(9.02)	0.00	0.00	2.94	(4.77)	33.85
UNVR	0.12	0.02	(0.06)	(1.27)	0.00	(0.15)	0.31	(0.22)	0.79
WLKP	0.43	0.07	0.09	0.45	0.38	(0.47)	0.88	(0.68)	2.86

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