United States Correlations
| X Stock | USD 40.77 0.32 0.79% |
The current 90-days correlation between United States Steel and Nucor Corp is 0.35 (i.e., Weak diversification). The correlation of United States 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.
United States Correlation With Market
Modest diversification
The correlation between United States Steel and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United States Steel and DJI in the same portfolio, assuming nothing else is changed.
United |
Moving together with United Stock
| 0.7 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.65 | MSB | Mesabi Trust | PairCorr |
| 0.63 | KALU | Kaiser Aluminum | PairCorr |
| 0.67 | AUST | Austin Gold Corp | PairCorr |
| 0.68 | CENX | Century Aluminum | PairCorr |
| 0.63 | AG | First Majestic Silver | PairCorr |
| 0.68 | IE | Ivanhoe Electric | PairCorr |
| 0.66 | OC | Owens Corning | PairCorr |
| 0.71 | OR | Osisko Gold Ro | PairCorr |
Moving against United Stock
| 0.65 | GURE | Gulf Resources | PairCorr |
| 0.52 | HLP | Hongli Group Ordinary | PairCorr |
| 0.48 | BAK | Braskem SA Class | PairCorr |
| 0.42 | DOW | Dow Inc Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.39 | PKX | POSCO Holdings | PairCorr |
| 0.6 | CSTM | Constellium Nv | PairCorr |
| 0.38 | CE | Celanese | PairCorr |
| 0.35 | NB | NioCorp Developments | PairCorr |
| 0.53 | NORNQ | Noranda Aluminum Holding | PairCorr |
| 0.39 | ELBM | Electra Battery Materials | PairCorr |
Related Correlations Analysis
| 0.69 | 0.61 | 0.49 | 0.51 | 0.67 | 0.59 | NUE | ||
| 0.69 | 0.74 | 0.29 | 0.31 | 0.92 | 0.4 | STLD | ||
| 0.61 | 0.74 | 0.54 | 0.31 | 0.62 | 0.78 | MT | ||
| 0.49 | 0.29 | 0.54 | -0.18 | 0.41 | 0.42 | GGB | ||
| 0.51 | 0.31 | 0.31 | -0.18 | 0.08 | 0.53 | CLF | ||
| 0.67 | 0.92 | 0.62 | 0.41 | 0.08 | 0.23 | RS | ||
| 0.59 | 0.4 | 0.78 | 0.42 | 0.53 | 0.23 | TX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between United Stock performing well and United States 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 United States' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NUE | 1.69 | (0.23) | (0.02) | 0.03 | 2.26 | 2.50 | 19.91 | |||
| STLD | 1.70 | 0.02 | 0.09 | 0.12 | 1.67 | 4.00 | 17.89 | |||
| MT | 1.59 | 0.01 | (0.01) | 0.13 | 2.02 | 3.83 | 9.08 | |||
| GGB | 1.54 | (0.12) | (0.03) | 0.04 | 1.78 | 3.44 | 16.26 | |||
| CLF | 2.63 | (0.52) | 0.00 | (0.05) | 0.00 | 4.72 | 24.38 | |||
| RS | 1.30 | (0.01) | 0.07 | 0.11 | 1.45 | 3.26 | 14.02 | |||
| TX | 1.55 | (0.15) | 0.00 | (0.02) | 0.00 | 2.94 | 9.40 |