Tronox Holdings Correlations

TROX Stock

USD 7.24 0.17 2.29%

The correlation of Tronox Holdings 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.

Tronox Holdings Correlation With Market

Very weak diversification

The correlation between Tronox Holdings PLC and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tronox Holdings PLC 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 Tronox Holdings PLC. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Tronox Stock

0.77	AA	Alcoa Corp	Pair Corr
0.9	CE	Celanese	Pair Corr
0.71	DOW	Dow Inc	Pair Corr
0.72	LXU	Lsb Industries	Pair Corr
0.88	VHI	Valhi Inc	Pair Corr
0.83	ZKIN	ZK International	Pair Corr
0.86	MEOH	Methanex	Pair Corr
0.74	ASIX	AdvanSix	Pair Corr
0.88	CC	Chemours	Pair Corr
0.79	CF	CF Industries Holdings	Pair Corr

Moving against Tronox Stock

0.79	DC	Dakota Gold Corp	Pair Corr
0.76	BTG	B2Gold Corp	Pair Corr
0.76	GFI	Gold Fields	Pair Corr
0.71	AEM	Agnico Eagle Mines	Pair Corr
0.66	EQX	Equinox Gold Corp	Pair Corr
0.63	AU	AngloGold Ashanti plc	Pair Corr
0.59	X	United States Steel	Pair Corr
0.53	EXK	Endeavour Silver Corp	Pair Corr
0.39	AG	First Majestic Silver	Pair Corr
0.85	GOLD	Barrick Gold Corp	Pair Corr
0.82	WPM	Wheaton Precious Metals	Pair Corr
0.7	SAND	Sandstorm Gold	Pair Corr
0.69	PAAS	Pan American Silver	Pair Corr
0.59	NEM	Newmont Goldcorp Corp	Pair Corr
0.55	NUE	Nucor Corp	Pair Corr
0.51	HMY	Harmony Gold Mining	Pair Corr
0.48	KGC	Kinross Gold	Pair Corr
0.44	NGD	New Gold	Pair Corr
0.42	GURE	Gulf Resources	Pair Corr
0.82	MT	ArcelorMittal SA ADR	Pair Corr
0.71	NC	NACCO Industries	Pair Corr
0.68	MP	MP Materials Corp	Pair Corr
0.56	TX	Ternium SA ADR	Pair Corr

Related Correlations Analysis

	SIRE	LXU	ASIX	BAK	CE	GPRE	UNVR	HUN	MEOH	VHI
SIRE		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SIRE
LXU	0.0		0.84	0.68	0.76	0.64	0.0	0.18	0.73	0.72	LXU
ASIX	0.0	0.84		0.8	0.69	0.62	0.0	0.22	0.84	0.63	ASIX
BAK	0.0	0.68	0.8		0.57	0.3	0.0	0.13	0.61	0.41	BAK
CE	0.0	0.76	0.69	0.57		0.82	0.0	0.23	0.8	0.88	CE
GPRE	0.0	0.64	0.62	0.3	0.82		0.0	0.33	0.77	0.95	GPRE
UNVR	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	UNVR
HUN	0.0	0.18	0.22	0.13	0.23	0.33	0.0		0.02	0.38	HUN
MEOH	0.0	0.73	0.84	0.61	0.8	0.77	0.0	0.02		0.74	MEOH
VHI	0.0	0.72	0.63	0.41	0.88	0.95	0.0	0.38	0.74		VHI
	SIRE	LXU	ASIX	BAK	CE	GPRE	UNVR	HUN	MEOH	VHI

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VHI	+ 0.95	GPRE
VHI	+ 0.88	CE
ASIX	+ 0.84	LXU
MEOH	+ 0.84	ASIX
GPRE	+ 0.82	CE
BAK	+ 0.8	ASIX

High negative correlations

VHI	- 0.0	UNVR
MEOH	- 0.0	UNVR
HUN	- 0.0	UNVR
UNVR	- 0.0	GPRE
UNVR	- 0.0	CE
UNVR	- 0.0	BAK

Risk-Adjusted Indicators

There is a big difference between Tronox Stock performing well and Tronox Holdings 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 Tronox Holdings' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SIRE	0.00	0.00	0.00	0.00	0.00	0.00
LXU	2.17	(0.22)	(0.25)	3.41	(4.59)	27.77
ASIX	1.74	(0.34)	(0.34)	2.44	(3.75)	14.24
BAK	2.79	(0.06)	(0.12)	5.61	(4.88)	22.64
CE	2.24	(0.15)	(0.23)	4.23	(4.01)	26.83
GPRE	3.60	(0.85)	(0.70)	6.31	(7.58)	26.78
UNVR	0.00	0.00	0.00	0.00	0.00	0.00
HUN	1.76	(0.14)	(0.25)	3.63	(3.61)	13.93
MEOH	1.72	(0.19)	(0.24)	2.97	(3.34)	16.72
VHI	2.20	(0.40)	(0.71)	3.65	(6.06)	12.94

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC