EMN vs TROX: Correlation
Eastman Chemical Company (EMN) and Tronox Holdings plc (TROX) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMN and TROX?
Over the past 3 years, EMN and TROX moved with a correlation of 0.67, which is strong. Little has changed lately, as the 1-year reading of 0.68 lands near the 3-year figure. Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 1422.2 %².
Among the 22 assets we track against EMN, TROX ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TROX outperformed by 26.3 percentage points (+10.8% for EMN against +37.1% for TROX). Risk is not evenly split, since TROX carries 2.3 times the volatility of the other side.
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.
EMN vs TROX: side by side
| EMN (Eastman Chemical Company) | TROX (Tronox Holdings plc) | |
|---|---|---|
| 1-year return | +10.8% | +37.1% |
| 5-year return | -22.9% | -67.8% |
| Volatility (ann.) | 30.5% | 69.1% |
| Beta vs S&P 500 | 0.95 | 1.88 |
| Max drawdown (3Y) | -48.4% | -84.5% |
| Market cap | $8.3B | $0.9B |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 4.59% | 3.66% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMN | TROX |
|---|---|---|
| 2022 | -30.4% | -41.1% |
| 2023 | +14.7% | +7.4% |
| 2024 | +5.1% | -26.4% |
| 2025 | -26.9% | -55.6% |
| 2026 | +16.5% | +34.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMN and TROX good diversifiers for each other?
Only partially. A correlation of 0.67 means EMN and TROX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EMN and TROX?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.68 over the last year and 0.65 over 5 years.
Is TROX a good diversifier for EMN?
Only partially. A correlation of 0.67 means EMN and TROX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/emn-vs-trox.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/emn-vs-trox/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EMN correlations · TROX correlations
