Orion Engineered Correlations

OEC Stock

USD 10.45 0.42 4.19%

The current 90-days correlation between Orion Engineered Carbons and Innospec is 0.54 (i.e., Very weak diversification). The correlation of Orion Engineered 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.

Orion Engineered Correlation With Market

Poor diversification

The correlation between Orion Engineered Carbons and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orion Engineered Carbons and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Orion Engineered Carbons. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Orion Stock

0.89	CC	Chemours	Pair Corr
0.9	DD	Dupont De Nemours	Pair Corr
0.79	FF	FutureFuel Corp	Pair Corr
0.74	ECVT	Ecovyst	Pair Corr
0.88	WTTR	Select Energy Services Buyout Trend	Pair Corr
0.9	ALB-PA	Albemarle	Pair Corr
0.92	ALB	Albemarle Corp	Pair Corr
0.88	APD	Air Products	Pair Corr
0.92	ASH	Ashland Global Holdings	Pair Corr
0.91	CBT	Cabot	Pair Corr
0.68	ECL	Ecolab Inc	Pair Corr
0.92	EMN	Eastman Chemical	Pair Corr
0.88	ESI	Element Solutions	Pair Corr
0.89	FSI	Flexible Solutions	Pair Corr
0.7	FUL	H B Fuller	Pair Corr
0.79	IFF	International Flavors	Pair Corr
0.88	KOP	Koppers Holdings	Pair Corr
0.82	KRO	Kronos Worldwide	Pair Corr
0.93	KWR	Quaker Chemical	Pair Corr
0.62	LIN	Linde plc Ordinary Sell-off Trend	Pair Corr
0.91	LYB	LyondellBasell Industries	Pair Corr
0.88	MTX	Minerals Technologies	Pair Corr
0.8	PPG	PPG Industries	Pair Corr
0.84	RPM	RPM International	Pair Corr
0.87	SCL	Stepan Company	Pair Corr
0.67	SQM	Sociedad Quimica y	Pair Corr
0.91	SSL	Sasol	Pair Corr
0.87	TSE	Trinseo SA	Pair Corr
0.91	WLK	Westlake Chemical	Pair Corr
0.76	GEVO	Gevo Inc	Pair Corr

Moving against Orion Stock

0.66	CMT	Core Molding Technologies	Pair Corr
0.55	NEU	NewMarket	Pair Corr
0.76	AU	AngloGold Ashanti plc	Pair Corr
0.57	SXT	Sensient Technologies	Pair Corr
0.56	X	United States Steel	Pair Corr
0.53	HWKN	Hawkins Earnings Call This Week	Pair Corr

Related Correlations Analysis

	IOSP	FUL	KWR	MTX	NTIC	SXT	ODC	ESI	NGVT	HWKN
IOSP		0.86	0.88	0.91	0.77	-0.33	0.1	0.87	0.85	-0.41	IOSP
FUL	0.86		0.72	0.74	0.54	-0.18	-0.15	0.63	0.62	-0.13	FUL
KWR	0.88	0.72		0.95	0.92	-0.6	0.3	0.94	0.92	-0.69	KWR
MTX	0.91	0.74	0.95		0.9	-0.64	0.26	0.89	0.86	-0.62	MTX
NTIC	0.77	0.54	0.92	0.9		-0.69	0.43	0.86	0.84	-0.85	NTIC
SXT	-0.33	-0.18	-0.6	-0.64	-0.69		-0.21	-0.43	-0.42	0.73	SXT
ODC	0.1	-0.15	0.3	0.26	0.43	-0.21		0.43	0.44	-0.54	ODC
ESI	0.87	0.63	0.94	0.89	0.86	-0.43	0.43		0.96	-0.62	ESI
NGVT	0.85	0.62	0.92	0.86	0.84	-0.42	0.44	0.96		-0.65	NGVT
HWKN	-0.41	-0.13	-0.69	-0.62	-0.85	0.73	-0.54	-0.62	-0.65		HWKN
	IOSP	FUL	KWR	MTX	NTIC	SXT	ODC	ESI	NGVT	HWKN

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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

NGVT	+ 0.96	ESI
MTX	+ 0.95	KWR
ESI	+ 0.94	KWR
NTIC	+ 0.92	KWR
NGVT	+ 0.92	KWR
MTX	+ 0.91	IOSP

High negative correlations

HWKN	- 0.85	NTIC
SXT	- 0.69	NTIC
HWKN	- 0.69	KWR
HWKN	- 0.65	NGVT
SXT	- 0.64	MTX
HWKN	- 0.62	ESI

Risk-Adjusted Indicators

There is a big difference between Orion Stock performing well and Orion Engineered 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 Orion Engineered'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
IOSP	1.50	(0.22)	0.00	(0.37)	0.00	0.00	2.34	(3.74)	11.52
FUL	1.75	0.00	0.00	(0.12)	0.00	0.00	3.20	(3.55)	14.60
KWR	1.94	(0.21)	0.00	(0.27)	0.00	0.00	3.00	(4.56)	20.89
MTX	1.72	(0.30)	0.00	(0.42)	0.00	0.00	2.17	(4.45)	18.95
NTIC	1.79	(0.54)	0.00	(0.68)	0.00	0.00	3.13	(3.95)	26.27
SXT	1.49	0.44	0.24	0.56	1.70	(1.75)	4.74	(2.24)	14.91
ODC	1.48	0.21	0.11	0.20	2.07	(1.43)	2.88	(4.30)	13.83
ESI	2.15	(0.03)	0.00	(0.14)	0.00	0.00	4.41	(4.91)	17.71
NGVT	2.69	0.12	0.00	(0.05)	0.00	0.00	5.43	(7.07)	18.16
HWKN	1.75	0.22	0.13	0.11	1.65	(2.25)	4.25	(2.93)	12.50

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