Methanex Correlations

MEOH Stock

USD 46.52 0.23 0.50%

The current 90-days correlation between Methanex and Univar Inc is -0.16 (i.e., Good diversification). The correlation of Methanex 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.

Methanex Correlation With Market

Average diversification

The correlation between Methanex and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Methanex and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Methanex. 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.

For more detail on how to invest in Methanex Stock please use our How to Invest in Methanex guide.

Moving together with Methanex Stock

0.67	WLKP	Westlake Chemical	Pair Corr
0.61	ZEUS	Olympic Steel	Pair Corr
0.61	CC	Chemours	Pair Corr

Moving against Methanex Stock

0.52	PFH	Prudential Financial 4125	Pair Corr
0.39	GOLD	Barrick Gold Corp	Pair Corr
0.36	EGO	Eldorado Gold Corp	Pair Corr
0.32	HMY	Harmony Gold Mining Earnings Call This Week	Pair Corr
0.45	SAND	Sandstorm Gold	Pair Corr
0.34	CE	Celanese	Pair Corr
0.33	DC	Dakota Gold Corp	Pair Corr
0.49	HL	Hecla Mining Potential Growth	Pair Corr
0.47	SA	Seabridge Gold	Pair Corr

Related Correlations Analysis

	ASIX	LXU	SIRE	UNVR	GPRE	TROX	VHI	HUN	WLKP
ASIX		0.7	0.45	0.48	-0.23	0.31	0.24	-0.01	0.53	ASIX
LXU	0.7		0.52	0.7	-0.5	0.23	0.49	0.03	0.37	LXU
SIRE	0.45	0.52		0.78	-0.8	-0.5	-0.11	-0.71	0.81	SIRE
UNVR	0.48	0.7	0.78		-0.83	-0.38	0.18	-0.39	0.48	UNVR
GPRE	-0.23	-0.5	-0.8	-0.83		0.53	0.01	0.55	-0.54	GPRE
TROX	0.31	0.23	-0.5	-0.38	0.53		0.44	0.82	-0.29	TROX
VHI	0.24	0.49	-0.11	0.18	0.01	0.44		0.54	-0.42	VHI
HUN	-0.01	0.03	-0.71	-0.39	0.55	0.82	0.54		-0.66	HUN
WLKP	0.53	0.37	0.81	0.48	-0.54	-0.29	-0.42	-0.66		WLKP
	ASIX	LXU	SIRE	UNVR	GPRE	TROX	VHI	HUN	WLKP

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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

HUN	+ 0.82	TROX
WLKP	+ 0.81	SIRE
UNVR	+ 0.78	SIRE
LXU	+ 0.7	ASIX
UNVR	+ 0.7	LXU
HUN	+ 0.55	GPRE

High negative correlations

GPRE	- 0.83	UNVR
GPRE	- 0.8	SIRE
HUN	- 0.71	SIRE
WLKP	- 0.66	HUN
WLKP	- 0.54	GPRE
TROX	- 0.5	SIRE

Risk-Adjusted Indicators

There is a big difference between Methanex Stock performing well and Methanex 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 Methanex'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
ASIX	1.51	(0.10)	(0.01)	0.06	1.64	(1.72)	3.06	(2.64)	9.70
LXU	2.00	(0.05)	0.02	0.09	2.22	(2.24)	4.56	(4.10)	18.88
SIRE	0.11	0.03	(0.59)	1.63	0.00	(0.16)	0.24	(0.20)	1.16
UNVR	0.12	0.02	(0.72)	(5.28)	0.00	(0.15)	0.31	(0.22)	0.79
GPRE	3.04	(0.29)	0.00	1.65	0.00	0.00	5.47	(7.90)	19.80
TROX	2.25	(0.39)	0.00	(0.11)	0.00	0.00	5.18	(4.98)	17.98
VHI	3.45	(0.24)	(0.02)	0.00	5.12	(3.93)	8.00	(5.37)	39.49
HUN	1.32	(0.23)	0.00	(0.19)	0.00	0.00	2.75	(3.35)	10.23
WLKP	0.45	0.07	(0.06)	0.66	0.32	(0.51)	0.87	(0.68)	2.20

Methanex Corporate Management

Vanessa James	Sr. VP of Global Marketing and Logistics	Profile
Karine Delbarre	Senior Logistics	Profile
Sarah Herriott	Director Relations	Profile
Mark Allard	Senior Solutions	Profile

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