NewMarket Correlations
| NEU Stock | USD 586.60 1.91 0.32% |
The correlation of NewMarket 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 NewMarket moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if NewMarket 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.
Very weak diversification
The correlation between NewMarket and NYA is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NewMarket and NYA in the same portfolio, assuming nothing else is changed.
NewMarket |
The ability to find closely correlated positions to NewMarket could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NewMarket 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 NewMarket - 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 NewMarket to buy it.
Moving together with NewMarket Stock
| 0.74 | DNMR | Danimer Scientific Financial Report 8th of May 2024 | PairCorr |
| 0.63 | ASH | Ashland Global Holdings Earnings Call Next Week | PairCorr |
| 0.8 | ECL | Ecolab Inc Earnings Call This Week | PairCorr |
| 0.73 | FUL | H B Fuller Financial Report 26th of June 2024 | PairCorr |
Moving against NewMarket Stock
| 0.56 | CC | Chemours Earnings Call This Week | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between NewMarket Stock performing well and NewMarket 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 NewMarket'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.Be your own money manager
Our tools can tell you how much better you can do entering a position in NewMarket 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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NewMarket Corporate Directors
NewMarket corporate directors refer to members of a NewMarket board of directors. The board of directors generally takes responsibility for the NewMarket'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 NewMarket's board members must vote for the resolution. The NewMarket board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Phyllis Cothran | Lead Independent Director | Profile | |
| Patrick Hanley | Independent Director | Profile | |
| James Rogers | Independent Director | Profile | |
| Ting Xu | Independent Director | Profile |
Already Invested in NewMarket?
The danger of trading NewMarket 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 NewMarket 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 NewMarket. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile NewMarket 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 NewMarket 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 NewMarket 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 Newmarket Stock. Highlighted below are key reports to facilitate an investment decision about Newmarket Stock: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in NewMarket. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in income. For more information on how to buy NewMarket Stock please use our How to Invest in NewMarket guide.Note that the NewMarket information on this page should be used as a complementary analysis to other NewMarket's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Complementary Tools for NewMarket Stock analysis
When running NewMarket's price analysis, check to measure NewMarket'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 NewMarket is operating at the current time. Most of NewMarket's value examination focuses on studying past and present price action to predict the probability of NewMarket's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move NewMarket's price. Additionally, you may evaluate how the addition of NewMarket to your portfolios can decrease your overall portfolio volatility.
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Is NewMarket'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 NewMarket. If investors know NewMarket 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 NewMarket 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 (0.1) | Dividend Share 8.85 | Earnings Share 40.43 | Revenue Per Share 281.584 | Quarterly Revenue Growth (0.06) |
The market value of NewMarket is measured differently than its book value, which is the value of NewMarket that is recorded on the company's balance sheet. Investors also form their own opinion of NewMarket's value that differs from its market value or its book value, called intrinsic value, which is NewMarket'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 NewMarket's market value can be influenced by many factors that don't directly affect NewMarket'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 NewMarket's value and its price as these two are different measures arrived at by different means. Investors typically determine if NewMarket is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, NewMarket'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.