Sherwin Williams Correlations

SHW Stock

USD 334.41 1.62 0.48%

The current 90-days correlation between Sherwin Williams and Air Products and is 0.53 (i.e., Very weak diversification). The correlation of Sherwin Williams 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.

Sherwin Williams Correlation With Market

Very weak diversification

The correlation between Sherwin Williams Co and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sherwin Williams Co and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Sherwin Williams Co. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Sherwin Stock

0.79	APD	Air Products	Pair Corr
0.66	EMN	Eastman Chemical	Pair Corr
0.65	LYB	LyondellBasell Industries	Pair Corr

Moving against Sherwin Stock

0.31	CMT	Core Molding Technologies	Pair Corr
0.42	SDSTW	Stardust Power Symbol Change	Pair Corr
0.37	AG	First Majestic Silver	Pair Corr
0.33	SDST	Stardust Power Symbol Change	Pair Corr

Related Correlations Analysis

	APD	LIN	ECL	RPM	PPG	LYB	ALB	EMN	IFF
APD		0.46	0.39	0.46	0.18	0.78	-0.05	0.67	0.46	APD
LIN	0.46		0.9	-0.3	-0.44	0.53	-0.75	0.7	-0.36	LIN
ECL	0.39	0.9		-0.14	-0.33	0.44	-0.69	0.7	-0.36	ECL
RPM	0.46	-0.3	-0.14		0.8	0.33	0.66	0.19	0.76	RPM
PPG	0.18	-0.44	-0.33	0.8		0.26	0.73	-0.13	0.69	PPG
LYB	0.78	0.53	0.44	0.33	0.26		-0.03	0.65	0.28	LYB
ALB	-0.05	-0.75	-0.69	0.66	0.73	-0.03		-0.35	0.58	ALB
EMN	0.67	0.7	0.7	0.19	-0.13	0.65	-0.35		0.18	EMN
IFF	0.46	-0.36	-0.36	0.76	0.69	0.28	0.58	0.18		IFF
	APD	LIN	ECL	RPM	PPG	LYB	ALB	EMN	IFF

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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	+ 0.9	LIN
PPG	+ 0.8	RPM
LYB	+ 0.78	APD
IFF	+ 0.76	RPM
ALB	+ 0.73	PPG
EMN	+ 0.7	LIN

High negative correlations

ALB	- 0.75	LIN
ALB	- 0.69	ECL
PPG	- 0.44	LIN
IFF	- 0.36	ECL
IFF	- 0.36	LIN
EMN	- 0.35	ALB

Risk-Adjusted Indicators

There is a big difference between Sherwin Stock performing well and Sherwin Williams 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 Sherwin Williams' 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	1.12	(0.04)	0.00	(0.12)	0.00	0.00	2.38	(1.85)	8.35
LIN	0.79	0.11	0.16	0.16	0.78	(0.90)	1.81	(1.43)	3.68
ECL	0.90	0.06	0.06	0.02	1.16	(0.90)	1.63	(1.60)	8.71
RPM	1.02	(0.16)	0.00	(0.27)	0.00	0.00	1.73	(2.25)	5.54
PPG	1.15	(0.11)	0.00	(0.22)	0.00	0.00	2.60	(2.18)	8.61
LYB	1.14	(0.02)	0.00	(0.10)	0.00	0.00	2.12	(2.39)	8.13
ALB	2.08	(0.28)	0.00	(0.40)	0.00	0.00	3.47	(4.44)	14.94
EMN	1.29	(0.07)	0.00	(0.15)	0.00	0.00	2.44	(2.60)	11.00
IFF	0.95	(0.12)	0.00	(0.24)	0.00	0.00	2.00	(1.89)	7.55

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