ASH vs. BCPC

Last updated Jun 3, 2026

ASH (Ashland Global Holdings Inc.) and BCPC (Balchem Corporation) are both stocks. Both operate in the Specialty Chemicals industry within the Basic Materials sector. Over the past 10 years, ASH returned 1.98%/yr vs 10.81%/yr for BCPC. At a 0.26 correlation, their price movements are largely independent.

Performance

ASH vs. BCPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ashland Global Holdings Inc. (ASH) and Balchem Corporation (BCPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASH achieves a -0.48% return, which is significantly lower than BCPC's 2.58% return. Over the past 10 years, ASH has underperformed BCPC with an annualized return of 1.98%, while BCPC has yielded a comparatively higher 10.81% annualized return.

ASH

• 1D: -0.74%
• 1M: 11.93%
• YTD: -0.48%
• 6M: 1.57%
• 1Y: 22.62%
• 3Y*: -11.56%
• 5Y*: -7.57%
• 10Y*: 1.98%

BCPC

• 1D: 0.65%
• 1M: -2.61%
• YTD: 2.58%
• 6M: 2.71%
• 1Y: -4.47%
• 3Y*: 6.49%
• 5Y*: 4.17%
• 10Y*: 10.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ASH vs. BCPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASH Ashland Global Holdings Inc.	-0.48%	-15.40%	-13.71%	-20.24%	1.14%	37.67%	5.05%	9.42%	0.90%	34.94%
BCPC Balchem Corporation	2.58%	-5.33%	10.15%	22.80%	-27.15%	46.90%	13.96%	30.38%	-2.19%	-3.46%

Correlation

The correlation between ASH and BCPC is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 4, 1986	0.26

The correlation between ASH and BCPC shifts across timeframes, from 0.26 (all time) to 0.48 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ASH : $2.65B BCPC : $5.08B
EPS ASH : -$15.34 BCPC : $4.86
PS Ratio ASH : 1.47 BCPC : 4.84
PB Ratio ASH : 1.42 BCPC : 3.95
Total Revenue (TTM) ASH : $1.81B BCPC : $1.06B
Gross Profit (TTM) ASH : $518.00M BCPC : $383.55M
EBITDA (TTM) ASH : -$384.00M BCPC : $259.05M

Return for Risk

ASH vs. BCPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASH

ASH Risk / Return Rank: 58
ASH Sharpe Ratio Rank: 60
ASH Sortino Ratio Rank: 56
ASH Omega Ratio Rank: 54
ASH Calmar Ratio Rank: 58
ASH Martin Ratio Rank: 60

BCPC

BCPC Risk / Return Rank: 28
BCPC Sharpe Ratio Rank: 31
BCPC Sortino Ratio Rank: 26
BCPC Omega Ratio Rank: 27
BCPC Calmar Ratio Rank: 30
BCPC Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASH vs. BCPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ashland Global Holdings Inc. (ASH) and Balchem Corporation (BCPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ASH	BCPC	Difference
Sharpe ratio Return per unit of total volatility	0.60	-0.21	+0.81
Sortino ratio Return per unit of downside risk	1.12	-0.16	+1.28
Omega ratio Gain probability vs. loss probability	1.14	0.98	+0.16
Calmar ratio Return relative to maximum drawdown	0.82	-0.31	+1.12
Martin ratio Return relative to average drawdown	2.01	-0.65	+2.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASH vs. BCPC - Sharpe Ratio Comparison

The current ASH Sharpe Ratio is 0.60, which is higher than the BCPC Sharpe Ratio of -0.21. The chart below compares the historical Sharpe Ratios of ASH and BCPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ASH	BCPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.60	-0.21	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.17	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	0.40	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.35	-0.10

Drawdowns

ASH vs. BCPC - Drawdown Comparison

The maximum ASH drawdown since its inception was -91.64%, which is greater than BCPC's maximum drawdown of -85.26%. Use the drawdown chart below to compare losses from any high point for ASH and BCPC.

Drawdown Indicators

	ASH	BCPC	Difference
Max Drawdown Largest peak-to-trough decline	-91.64%	-85.26%	-6.38%
Max Drawdown (1Y) Largest decline over 1 year	-24.17%	-16.52%	-7.65%
Max Drawdown (3Y) Largest decline over 3 years	-53.26%	-23.10%	-30.16%
Max Drawdown (5Y) Largest decline over 5 years	-57.29%	-33.89%	-23.40%
Max Drawdown (10Y) Largest decline over 10 years	-57.29%	-36.72%	-20.57%
Current Drawdown Current decline from peak	-45.14%	-14.16%	-30.98%
Average Drawdown Average peak-to-trough decline	-17.59%	-22.47%	+4.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.81%	7.74%	+2.07%

Volatility

ASH vs. BCPC - Volatility Comparison

Ashland Global Holdings Inc. (ASH) has a higher volatility of 9.86% compared to Balchem Corporation (BCPC) at 3.83%. This indicates that ASH's price experiences larger fluctuations and is considered to be riskier than BCPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASH	BCPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.86%	3.83%	+6.03%
Volatility (6M) Calculated over the trailing 6-month period	30.47%	16.30%	+14.17%
Volatility (1Y) Calculated over the trailing 1-year period	38.25%	21.11%	+17.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.05%	24.08%	+6.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.85%	26.81%	+3.04%

Dividends

ASH vs. BCPC - Dividend Comparison

ASH's dividend yield for the trailing twelve months is around 2.89%, more than BCPC's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASH Ashland Global Holdings Inc.	2.89%	2.81%	2.24%	1.77%	1.21%	1.09%	1.39%	1.40%	1.37%	88.83%	1.43%	1.47%
BCPC Balchem Corporation	0.61%	0.63%	0.53%	0.80%	0.58%	0.38%	0.50%	0.51%	0.60%	0.52%	0.45%	0.56%

Financials

ASH vs. BCPC - Profitability Comparison

The chart below illustrates the profitability comparison between Ashland Global Holdings Inc. and Balchem Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ASH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ashland Global Holdings Inc. reported a gross profit of 147.00M and revenue of 482.00M. Therefore, the gross margin over that period was 30.5%.

BCPC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Balchem Corporation reported a gross profit of 101.08M and revenue of 270.71M. Therefore, the gross margin over that period was 37.3%.

ASH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ashland Global Holdings Inc. reported an operating income of 39.00M and revenue of 482.00M, resulting in an operating margin of 8.1%.

BCPC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Balchem Corporation reported an operating income of 55.63M and revenue of 270.71M, resulting in an operating margin of 20.6%.

ASH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ashland Global Holdings Inc. reported a net income of 16.00M and revenue of 482.00M, resulting in a net margin of 3.3%.

BCPC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Balchem Corporation reported a net income of 40.29M and revenue of 270.71M, resulting in a net margin of 14.9%.

Frequently Asked Questions

Can I hold both ASH and BCPC in my portfolio?

ASH and BCPC have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASH or BCPC?

ASH has higher volatility (9.86%) compared to BCPC (3.83%). In terms of maximum drawdown, ASH dropped -91.64% vs BCPC's -85.26%.

Which has better risk-adjusted returns?

ASH currently has the higher Sharpe Ratio (0.60 vs -0.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.