United States Correlations

X Stock

USD 40.03 0.22 0.55%

The current 90-days correlation between United States Steel and Outokumpu Oyj ADR is -0.13 (i.e., Good 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 0.27 (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.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in United States Steel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving against United Stock

0.53	BAK	Braskem SA Class	Pair Corr
0.44	PKX	POSCO Holdings	Pair Corr
0.43	CSTM	Constellium Nv	Pair Corr
0.35	GURE	Gulf Resources Earnings Call This Week	Pair Corr
0.31	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr

Related Correlations Analysis

	ZEUS	USAP	OUTKY	TX	STLD	GGB	NUE	USNZY	RS	MT
ZEUS		0.08	-0.12	0.32	0.18	0.45	0.56	0.27	0.41	0.09	ZEUS
USAP	0.08		-0.38	0.28	0.79	-0.19	0.5	0.29	0.7	0.48	USAP
OUTKY	-0.12	-0.38		0.31	-0.2	0.54	0.09	-0.11	-0.26	0.34	OUTKY
TX	0.32	0.28	0.31		0.57	0.49	0.64	0.35	0.47	0.8	TX
STLD	0.18	0.79	-0.2	0.57		0.23	0.76	0.3	0.91	0.77	STLD
GGB	0.45	-0.19	0.54	0.49	0.23		0.53	0.1	0.35	0.56	GGB
NUE	0.56	0.5	0.09	0.64	0.76	0.53		0.28	0.8	0.68	NUE
USNZY	0.27	0.29	-0.11	0.35	0.3	0.1	0.28		0.19	0.27	USNZY
RS	0.41	0.7	-0.26	0.47	0.91	0.35	0.8	0.19		0.65	RS
MT	0.09	0.48	0.34	0.8	0.77	0.56	0.68	0.27	0.65		MT
	ZEUS	USAP	OUTKY	TX	STLD	GGB	NUE	USNZY	RS	MT

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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

RS	+ 0.91	STLD
MT	+ 0.8	TX
RS	+ 0.8	NUE
STLD	+ 0.79	USAP
MT	+ 0.77	STLD
NUE	+ 0.76	STLD

High negative correlations

OUTKY	- 0.38	USAP
RS	- 0.26	OUTKY
STLD	- 0.2	OUTKY
GGB	- 0.19	USAP
OUTKY	- 0.12	ZEUS
USNZY	- 0.11	OUTKY

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
ZEUS	1.98	(0.29)	(0.04)	0.03	2.49	(2.06)	4.03	(4.04)	14.72
USAP	1.94	0.08	0.06	0.21	2.35	(2.07)	5.18	(4.35)	15.05
OUTKY	0.48	(0.04)	0.00	0.03	0.00	0.00	2.22	(1.69)	10.16
TX	1.46	(0.19)	(0.08)	0.01	1.88	(1.35)	2.87	(2.98)	8.76
STLD	1.72	(0.01)	0.11	0.15	1.59	(2.14)	4.00	(2.40)	17.89
GGB	1.69	(0.14)	(0.01)	0.08	1.82	(2.14)	4.02	(3.68)	13.70
NUE	1.67	(0.25)	0.00	0.06	1.88	(1.82)	2.81	(3.25)	19.91
USNZY	3.33	0.21	(0.02)	(0.05)	4.24	(3.99)	7.44	(7.14)	25.24
RS	1.34	(0.09)	0.04	0.11	1.48	(1.54)	3.26	(2.12)	13.49
MT	1.46	0.02	0.01	0.17	1.87	(1.53)	3.83	(3.01)	9.63

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