WESTLAKE CHEMICAL Correlations

UEO Stock

EUR 92.00 1.00 1.08%

The current 90-days correlation between WESTLAKE CHEMICAL and Lendlease Group is -0.11 (i.e., Good diversification). The correlation of WESTLAKE CHEMICAL 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.

WESTLAKE CHEMICAL Correlation With Market

Average diversification

The correlation between WESTLAKE CHEMICAL and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WESTLAKE CHEMICAL and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to WESTLAKE CHEMICAL could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace WESTLAKE CHEMICAL when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back WESTLAKE CHEMICAL - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling WESTLAKE CHEMICAL to buy it.

Moving together with WESTLAKE Stock

0.63	APC	Apple Inc	Pair Corr
0.64	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.63	APC	Apple Inc	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.88	MSF	Microsoft	Pair Corr
0.88	MSF	Microsoft	Pair Corr
0.87	MSF	Microsoft	Pair Corr
0.88	MSF	Microsoft	Pair Corr
0.84	AMZ	Amazon Inc	Pair Corr
0.82	BYRA	BANK RAKYAT IND	Pair Corr
0.69	BYRA	PT Bank Rakyat	Pair Corr
0.76	BYRA	BANK RAKYAT IND	Pair Corr
0.79	PQ9	PT Bank Mandiri	Pair Corr
0.79	PQ9	BANK MANDIRI	Pair Corr
0.62	DBPD	Xtrackers ShortDAX	Pair Corr

Moving against WESTLAKE Stock

0.61	DBPE	Xtrackers LevDAX	Pair Corr
0.38	E908	Lyxor 1	Pair Corr

Related Correlations Analysis

	AS5	1IU	LLC	ALG	UR3	WIJ	8QC
AS5		0.57	0.47	0.16	0.26	0.1	-0.26	AS5
1IU	0.57		0.88	0.18	0.78	0.57	-0.28	1IU
LLC	0.47	0.88		0.12	0.75	0.51	-0.13	LLC
ALG	0.16	0.18	0.12		-0.14	-0.25	-0.03	ALG
UR3	0.26	0.78	0.75	-0.14		0.58	-0.26	UR3
WIJ	0.1	0.57	0.51	-0.25	0.58		-0.32	WIJ
8QC	-0.26	-0.28	-0.13	-0.03	-0.26	-0.32		8QC
	AS5	1IU	LLC	ALG	UR3	WIJ	8QC

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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

LLC	+ 0.88	1IU
UR3	+ 0.78	1IU
UR3	+ 0.75	LLC
WIJ	+ 0.58	UR3
1IU	+ 0.57	AS5
WIJ	+ 0.57	1IU

High negative correlations

8QC	- 0.32	WIJ
8QC	- 0.28	1IU
8QC	- 0.26	UR3
8QC	- 0.26	AS5
WIJ	- 0.25	ALG
UR3	- 0.14	ALG

Risk-Adjusted Indicators

There is a big difference between WESTLAKE Stock performing well and WESTLAKE CHEMICAL 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 WESTLAKE CHEMICAL'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
AS5	1.55	0.07	0.07	(1.10)	1.86	(1.84)	3.35	(2.75)	10.73
1IU	1.22	(0.12)	0.00	(0.31)	0.00	0.00	2.45	(3.25)	9.04
LLC	1.29	(0.16)	0.00	1.75	0.00	0.00	2.20	(2.55)	5.96
ALG	0.17	(0.03)	0.00	(5.24)	0.00	0.00	0.00	(0.72)	5.76
UR3	1.83	(0.32)	0.00	(0.78)	0.00	0.00	3.69	(4.15)	14.00
WIJ	2.39	(0.20)	0.00	(54.98)	0.00	0.00	5.68	(5.82)	24.13
8QC	0.96	0.08	0.14	(0.49)	1.11	(1.12)	2.53	(2.39)	12.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in WESTLAKE CHEMICAL without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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