NL Industries Correlations

NL Stock

USD 7.95 0.06 0.76%

The current 90-days correlation between NL Industries and Appen Limited is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as NL Industries moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NL Industries moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

NL Industries Correlation With Market

Very weak diversification

The correlation between NL Industries and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NL Industries 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 NL Industries. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For more information on how to buy NL Industries Stock please use our How to buy in NL Industries Stock guide.

Moving together with NL Industries Stock

0.73	BV	BrightView Holdings	Pair Corr
0.62	LZ	LegalZoom	Pair Corr
0.66	WM	Waste Management Sell-off Trend	Pair Corr
0.72	VSEC	VSE Corporation	Pair Corr
0.84	WLDN	Willdan Group	Pair Corr
0.78	AXR	AMREP	Pair Corr
0.69	YIBO	Planet Image Interna	Pair Corr

Moving against NL Industries Stock

0.86	WHLM	Wilhelmina	Pair Corr
0.85	RGP	Resources Connection	Pair Corr
0.83	DLHC	DLH Holdings Corp Earnings Call This Week	Pair Corr
0.76	EFX	Equifax	Pair Corr
0.71	FORR	Forrester Research	Pair Corr
0.7	VCIG	VCI Global Limited Trending	Pair Corr
0.62	SMX	SMX Public Limited	Pair Corr
0.56	RTO	Rentokil Initial PLC	Pair Corr
0.47	FCN	FTI Consulting	Pair Corr
0.33	MG	Mistras Group	Pair Corr
0.32	VLTO	Veralto	Pair Corr
0.32	MMS	Maximus	Pair Corr
0.8	CREG	Smart Powerr Corp	Pair Corr
0.72	CP	Canadian Pacific Railway	Pair Corr
0.64	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.54	BLMZ	BloomZ Ordinary Shares	Pair Corr
0.53	HDSN	Hudson Technologies	Pair Corr
0.51	CVEO	Civeo Corp	Pair Corr

Related Correlations Analysis

	AEXAF	DVRNF	APPEF	AEXAY	USIO	IBEX	TASK	KD	APXYY	DCSX
AEXAF		0.0	-0.68	-0.19	-0.34	-0.49	-0.4	-0.69	-0.38	0.63	AEXAF
DVRNF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	DVRNF
APPEF	-0.68	0.0		0.14	0.12	0.75	0.38	0.71	0.79	-0.72	APPEF
AEXAY	-0.19	0.0	0.14		0.65	0.17	0.45	0.58	-0.12	-0.32	AEXAY
USIO	-0.34	0.0	0.12	0.65		0.02	0.44	0.51	-0.29	-0.27	USIO
IBEX	-0.49	0.0	0.75	0.17	0.02		0.4	0.59	0.67	-0.49	IBEX
TASK	-0.4	0.0	0.38	0.45	0.44	0.4		0.66	0.25	-0.58	TASK
KD	-0.69	0.0	0.71	0.58	0.51	0.59	0.66		0.45	-0.79	KD
APXYY	-0.38	0.0	0.79	-0.12	-0.29	0.67	0.25	0.45		-0.62	APXYY
DCSX	0.63	0.0	-0.72	-0.32	-0.27	-0.49	-0.58	-0.79	-0.62		DCSX
	AEXAF	DVRNF	APPEF	AEXAY	USIO	IBEX	TASK	KD	APXYY	DCSX

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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

APXYY	+ 0.79	APPEF
IBEX	+ 0.75	APPEF
KD	+ 0.71	APPEF
APXYY	+ 0.67	IBEX
KD	+ 0.66	TASK
USIO	+ 0.65	AEXAY

High negative correlations

DCSX	- 0.79	KD
DCSX	- 0.72	APPEF
KD	- 0.69	AEXAF
APPEF	- 0.68	AEXAF
DCSX	- 0.62	APXYY
DCSX	- 0.58	TASK

Risk-Adjusted Indicators

There is a big difference between NL Industries Stock performing well and NL Industries 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 NL Industries' 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
AEXAF	16.34	5.53	0.32	1.61	8.51	(58.09)	6.25	(18.92)	61.37
DVRNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APPEF	6.61	2.84	0.00	(1.77)	0.00	0.00	29.09	0.00	115.82
AEXAY	4.73	0.68	0.04	(5.10)	5.63	(12.67)	16.67	(13.33)	45.00
USIO	1.64	(0.06)	0.00	(0.05)	0.00	0.00	4.17	(3.55)	9.99
IBEX	1.67	0.11	0.09	0.20	1.44	(2.06)	3.24	(2.51)	21.02
TASK	2.50	0.04	0.02	0.15	4.18	(2.58)	4.93	(4.81)	40.44
KD	1.66	0.44	0.30	0.40	1.09	(1.99)	3.41	(2.98)	15.71
APXYY	5.76	1.73	0.17	(2.83)	4.47	(13.48)	13.89	(10.26)	104.52
DCSX	1.55	(0.01)	0.00	0.14	0.00	0.00	5.00	(5.05)	28.04

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