Westlake Chemical Correlations

WLKP Stock

USD 22.08 0.04 0.18%

The current 90-days correlation between Westlake Chemical and Valhi Inc is 0.37 (i.e., Weak 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

Very weak diversification

The correlation between Westlake Chemical Partners and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Westlake Chemical Partners and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Westlake Chemical Partners. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

To learn how to invest in Westlake Stock, please use our How to Invest in Westlake Chemical guide.

Moving against Westlake Stock

0.52	X	United States Steel Sell-off Trend	Pair Corr
0.36	DC	Dakota Gold Corp	Pair Corr
0.35	CDE	Coeur Mining	Pair Corr
0.32	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.4	GFI	Gold Fields	Pair Corr
0.37	NGD	New Gold Aggressive Push	Pair Corr

Related Correlations Analysis

	VHI	HUN	UNVR	LXU	GPRE	ASIX	MEOH	TROX	SIRE
VHI		0.62	0.0	-0.17	0.08	-0.13	0.34	0.49	0.0	VHI
HUN	0.62		0.0	-0.22	0.43	-0.15	0.38	0.8	0.0	HUN
UNVR	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	UNVR
LXU	-0.17	-0.22	0.0		0.58	0.93	0.76	0.3	0.0	LXU
GPRE	0.08	0.43	0.0	0.58		0.63	0.75	0.63	0.0	GPRE
ASIX	-0.13	-0.15	0.0	0.93	0.63		0.75	0.32	0.0	ASIX
MEOH	0.34	0.38	0.0	0.76	0.75	0.75		0.74	0.0	MEOH
TROX	0.49	0.8	0.0	0.3	0.63	0.32	0.74		0.0	TROX
SIRE	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SIRE
	VHI	HUN	UNVR	LXU	GPRE	ASIX	MEOH	TROX	SIRE

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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

ASIX	+ 0.93	LXU
TROX	+ 0.8	HUN
MEOH	+ 0.76	LXU
MEOH	+ 0.75	GPRE
MEOH	+ 0.75	ASIX
TROX	+ 0.74	MEOH

High negative correlations

LXU	- 0.22	HUN
LXU	- 0.17	VHI
ASIX	- 0.15	HUN
ASIX	- 0.13	VHI
SIRE	- 0.0	TROX
SIRE	- 0.0	MEOH

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
VHI	2.58	(0.19)	0.00	(0.22)	0.00	0.00	5.68	(5.78)	16.28
HUN	2.54	(0.70)	0.00	(0.40)	0.00	0.00	4.04	(5.73)	25.83
UNVR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LXU	2.63	0.28	0.08	0.23	3.47	(2.67)	5.41	(5.86)	15.57
GPRE	4.05	0.35	0.06	(1.82)	4.76	(4.53)	9.46	(8.23)	22.66
ASIX	1.82	0.09	0.02	(0.59)	2.32	(1.91)	4.72	(2.93)	17.55
MEOH	2.31	(0.04)	0.00	0.01	3.95	(2.08)	5.19	(5.54)	30.26
TROX	3.65	(0.30)	0.00	(0.10)	0.00	0.00	8.02	(7.51)	27.02
SIRE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Westlake Chemical Corporate Management

Benjamin Ederington	General Counsel of Westlake Chemical Partners GP LLC, VP of Westlake Chemical Partners GP LLC, Corporate Secretary of Westlake Chemical Partners GP LLC and Westlake Chemical Partners GP LLC	Profile
Johnathan Zoeller	Chief Accounting Officer, Vice President of Westlake Chemical Partners GP LLC	Profile
Benjamin JD	Executive LLC	Profile
Randy Woelfel	Independent Director of Westlake Chemical Partners GP LLC	Profile
G Finley	Independent Director of Westlake Chemical Partners GP LLC	Profile
Andrew Kenner	Senior LLC	Profile

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