Minerals Technologies Correlations

MTX Stock

USD 53.29 0.51 0.95%

The current 90-days correlation between Minerals Technologies and Quaker Chemical is 0.75 (i.e., Poor diversification). The correlation of Minerals Technologies 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.

Minerals Technologies Correlation With Market

Poor diversification

The correlation between Minerals Technologies and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Minerals Technologies and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Minerals Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Minerals Technologies. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more information on how to buy Minerals Stock please use our How to Invest in Minerals Technologies guide.

Moving together with Minerals Stock

0.64	CC	Chemours	Pair Corr
0.75	DD	Dupont De Nemours	Pair Corr
0.81	ALB-PA	Albemarle	Pair Corr
0.83	ALB	Albemarle Corp	Pair Corr
0.73	APD	Air Products	Pair Corr
0.75	ASH	Ashland Global Holdings	Pair Corr
0.69	CBT	Cabot	Pair Corr
0.95	EMN	Eastman Chemical	Pair Corr
0.75	ESI	Element Solutions	Pair Corr
0.83	FSI	Flexible Solutions	Pair Corr
0.8	KWR	Quaker Chemical	Pair Corr
0.82	LYB	LyondellBasell Industries	Pair Corr
0.67	OEC	Orion Engineered Carbons	Pair Corr
0.62	RPM	RPM International	Pair Corr
0.74	SQM	Sociedad Quimica y	Pair Corr
0.7	IOSP	Innospec	Pair Corr

Moving against Minerals Stock

0.41	NEU	NewMarket	Pair Corr
0.33	CMT	Core Molding Technologies	Pair Corr
0.48	SXT	Sensient Technologies	Pair Corr
0.47	HWKN	Hawkins	Pair Corr

Related Correlations Analysis

	KWR	IOSP	FUL	CBT	ODC	SXT	NTIC
KWR		0.69	0.32	0.69	0.36	-0.29	0.74	KWR
IOSP	0.69		0.16	0.76	-0.24	-0.39	0.73	IOSP
FUL	0.32	0.16		0.04	0.48	0.48	-0.14	FUL
CBT	0.69	0.76	0.04		-0.31	-0.73	0.81	CBT
ODC	0.36	-0.24	0.48	-0.31		0.54	-0.18	ODC
SXT	-0.29	-0.39	0.48	-0.73	0.54		-0.71	SXT
NTIC	0.74	0.73	-0.14	0.81	-0.18	-0.71		NTIC
	KWR	IOSP	FUL	CBT	ODC	SXT	NTIC

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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

NTIC	+ 0.81	CBT
CBT	+ 0.76	IOSP
NTIC	+ 0.74	KWR
NTIC	+ 0.73	IOSP
IOSP	+ 0.69	KWR
CBT	+ 0.69	KWR

High negative correlations

SXT	- 0.73	CBT
NTIC	- 0.71	SXT
SXT	- 0.39	IOSP
ODC	- 0.31	CBT
SXT	- 0.29	KWR
ODC	- 0.24	IOSP

Risk-Adjusted Indicators

There is a big difference between Minerals Stock performing well and Minerals Technologies 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 Minerals Technologies' 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
KWR	2.07	(0.20)	0.00	(0.10)	0.00	0.00	4.98	(4.56)	20.89
IOSP	1.30	(0.27)	0.00	(0.26)	0.00	0.00	2.36	(2.97)	11.52
FUL	1.81	0.00	0.00	0.03	2.27	(2.04)	3.58	(3.55)	14.60
CBT	1.37	(0.22)	0.00	(0.20)	0.00	0.00	2.74	(2.71)	14.64
ODC	1.52	0.27	0.13	0.43	1.66	(1.55)	2.52	(2.74)	10.93
SXT	1.29	0.40	0.29	0.74	0.92	(1.64)	4.75	(1.79)	15.95
NTIC	1.63	(0.59)	0.00	(0.57)	0.00	0.00	3.13	(3.88)	26.27

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