Calumet Specialty Correlations
| CLMT Stock | USD 16.20 0.83 5.40% |
The correlation of Calumet Specialty 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Calumet Specialty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Calumet Specialty Products moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between Calumet Specialty Products and NYA is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Calumet Specialty Products and NYA in the same portfolio, assuming nothing else is changed.
Calumet |
The ability to find closely correlated positions to Calumet Specialty could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Calumet Specialty when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Calumet Specialty - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Calumet Specialty Products to buy it.
Moving against Calumet Stock
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Risk-Adjusted Indicators
There is a big difference between Calumet Stock performing well and Calumet Specialty 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 Calumet Specialty'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SBOW | 1.65 | 0.18 | 0.09 | 0.25 | 1.94 | 4.24 | 11.76 | |||
| VTLE | 1.57 | 0.48 | 0.21 | (1.11) | 1.44 | 3.78 | 8.00 | |||
| PR | 1.12 | 0.33 | 0.24 | 0.38 | 0.93 | 3.12 | 7.15 | |||
| MGY | 0.99 | 0.41 | 0.29 | 2.02 | 0.73 | 2.28 | 7.16 | |||
| REI | 2.57 | 0.51 | 0.20 | 0.42 | 2.33 | 5.84 | 11.89 | |||
| CRK | 1.88 | 0.30 | 0.14 | 0.39 | 1.85 | 3.78 | 14.69 | |||
| OBE | 1.64 | 0.42 | 0.20 | 2.00 | 1.42 | 3.64 | 8.38 | |||
| EPSN | 1.17 | 0.20 | 0.11 | 0.85 | 1.11 | 2.93 | 7.09 | |||
| EGY | 2.24 | 0.77 | 0.28 | (0.80) | 1.65 | 4.51 | 22.94 | |||
| PHX | 1.28 | 0.11 | 0.05 | 0.34 | 1.15 | 3.49 | 6.13 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Calumet Specialty without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Calumet Specialty Corporate Directors
Calumet Specialty corporate directors refer to members of a Calumet Specialty board of directors. The board of directors generally takes responsibility for the Calumet Specialty's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Calumet Specialty's board members must vote for the resolution. The Calumet Specialty board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| George Morris | Independent Director of Calumet GP LLC | Profile | |
| Daniel Sheets | Independent Director of the Calumet GP, LLC | Profile | |
| Amy Schumacher | Director of Calumet GP, LLC | Profile | |
| Daniel Sajkowski | Directors of Calumet GP, LLC | Profile |
Already Invested in Calumet Specialty Products?
The danger of trading Calumet Specialty Products is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Calumet Specialty is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Calumet Specialty. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Calumet Specialty is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Calumet Specialty is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if Calumet Stock is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Calumet Specialty Products Stock. Highlighted below are key reports to facilitate an investment decision about Calumet Specialty Products Stock: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Calumet Specialty Products. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in population. You can also try the Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
Complementary Tools for Calumet Stock analysis
When running Calumet Specialty's price analysis, check to measure Calumet Specialty's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Calumet Specialty is operating at the current time. Most of Calumet Specialty's value examination focuses on studying past and present price action to predict the probability of Calumet Specialty's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Calumet Specialty's price. Additionally, you may evaluate how the addition of Calumet Specialty to your portfolios can decrease your overall portfolio volatility.
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Is Calumet Specialty's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Calumet Specialty. If investors know Calumet will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Calumet Specialty listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 5.617 | Earnings Share 0.59 | Revenue Per Share 52.213 | Quarterly Revenue Growth (0.02) | Return On Assets 0.0599 |
The market value of Calumet Specialty is measured differently than its book value, which is the value of Calumet that is recorded on the company's balance sheet. Investors also form their own opinion of Calumet Specialty's value that differs from its market value or its book value, called intrinsic value, which is Calumet Specialty's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Calumet Specialty's market value can be influenced by many factors that don't directly affect Calumet Specialty's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Calumet Specialty's value and its price as these two are different measures arrived at by different means. Investors typically determine if Calumet Specialty is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Calumet Specialty's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.