ASH vs IOSP: Correlation
How closely do Ashland Inc. (ASH) and Innospec Inc. (IOSP) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASH and IOSP?
Across a 3-year window, the weekly returns of ASH and IOSP correlate at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.51, with an annualized covariance of 451.7 %².
In ASH's tracked universe of 12 assets, IOSP sits right near the top at #3. Correlation aside, the last 12 months split them widely, with ASH ahead by 23.4 points (+34.7% versus +11.3%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ASH vs IOSP: side by side
| ASH (Ashland Inc.) | IOSP (Innospec Inc.) | |
|---|---|---|
| 1-year return | +34.7% | +11.3% |
| 5-year return | -6.5% | +10.2% |
| Volatility (ann.) | 31.6% | 26.6% |
| Beta vs S&P 500 | 0.98 | 0.94 |
| Max drawdown (3Y) | -53.3% | -48.4% |
| Market cap | $3.4B | $2.3B |
| P/E (trailing) | 47.7 | 19.5 |
| Dividend yield | 2.24% | 1.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASH | IOSP |
|---|---|---|
| 2022 | +1.1% | +15.2% |
| 2023 | -20.2% | +21.5% |
| 2024 | -13.7% | -9.6% |
| 2025 | -15.4% | -28.9% |
| 2026 | +27.8% | +26.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASH and IOSP good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASH and IOSP?
The ASH/IOSP correlation stands at 0.54 on a 3-year window (1 year: 0.58, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is IOSP a good diversifier for ASH?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ash-vs-iosp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ash-vs-iosp/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASH correlations · IOSP correlations
