Alcoa Corp Correlations

AA Stock

USD 37.20 0.41 1.11%

The current 90-days correlation between Alcoa Corp and The Mosaic is 0.09 (i.e., Significant diversification). The correlation of Alcoa Corp 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.

Alcoa Corp Correlation With Market

Very weak diversification

The correlation between Alcoa Corp and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alcoa Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Alcoa Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alcoa Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

For information on how to trade Alcoa Stock refer to our How to Trade Alcoa Stock guide.

Moving together with Alcoa Stock

0.73	B	Barrick Mining Earnings Call This Week	Pair Corr
0.77	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.74	AU	AngloGold Ashanti plc Earnings Call This Week	Pair Corr
0.85	HL	Hecla Mining Earnings Call This Week	Pair Corr
0.89	MT	ArcelorMittal SA ADR Earnings Call This Week	Pair Corr
0.77	NG	NovaGold Resources	Pair Corr
0.65	WIA	WIA Gold	Pair Corr
0.81	SA	Seabridge Gold	Pair Corr
0.88	TX	Ternium SA ADR Earnings Call Today	Pair Corr
0.68	CUU	Copper Fox Metals	Pair Corr
0.82	R8R	REGENER8 Resources	Pair Corr
0.88	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.92	GML	Gateway Mining	Pair Corr
0.73	SRK	Strike Resources	Pair Corr
0.81	FEX	FENIX Resources	Pair Corr

Moving against Alcoa Stock

0.78	AP	Ampco Pittsburgh Earnings Call This Week	Pair Corr
0.57	RS	Reliance Steel Aluminum	Pair Corr
0.51	TG	Tredegar Earnings Call This Week	Pair Corr
0.75	ARI	Arika Resources	Pair Corr
0.73	300337	Yinbang Clad Material	Pair Corr
0.62	VG	Volcanic Gold Mines	Pair Corr
0.81	JAIBALAJI	Jai Balaji Industries Earnings Call This Week	Pair Corr
0.54	000409	Yunding Technology	Pair Corr

Related Correlations Analysis

	MOS	AVTR	IAG	SUZ	ICL	EQX	HL	EMN	WLK	EXP
MOS		-0.3	-0.13	0.36	-0.44	-0.19	-0.33	0.36	0.49	0.16	MOS
AVTR	-0.3		0.48	-0.37	0.41	0.47	0.5	0.13	0.06	0.61	AVTR
IAG	-0.13	0.48		-0.73	0.45	0.97	0.96	-0.28	-0.36	0.3	IAG
SUZ	0.36	-0.37	-0.73		-0.5	-0.72	-0.75	0.6	0.6	-0.01	SUZ
ICL	-0.44	0.41	0.45	-0.5		0.49	0.52	-0.21	-0.3	0.01	ICL
EQX	-0.19	0.47	0.97	-0.72	0.49		0.97	-0.18	-0.28	0.28	EQX
HL	-0.33	0.5	0.96	-0.75	0.52	0.97		-0.33	-0.44	0.23	HL
EMN	0.36	0.13	-0.28	0.6	-0.21	-0.18	-0.33		0.88	0.41	EMN
WLK	0.49	0.06	-0.36	0.6	-0.3	-0.28	-0.44	0.88		0.46	WLK
EXP	0.16	0.61	0.3	-0.01	0.01	0.28	0.23	0.41	0.46		EXP
	MOS	AVTR	IAG	SUZ	ICL	EQX	HL	EMN	WLK	EXP

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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

EQX	+ 0.97	IAG
HL	+ 0.97	EQX
HL	+ 0.96	IAG
WLK	+ 0.88	EMN
EXP	+ 0.61	AVTR
EMN	+ 0.6	SUZ

High negative correlations

HL	- 0.75	SUZ
SUZ	- 0.73	IAG
EQX	- 0.72	SUZ
ICL	- 0.5	SUZ
WLK	- 0.44	HL
ICL	- 0.44	MOS

Risk-Adjusted Indicators

There is a big difference between Alcoa Stock performing well and Alcoa Corp 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 Alcoa Corp's 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
MOS	1.68	(0.44)	0.00	(0.47)	0.00	0.00	2.78	(3.88)	15.01
AVTR	2.60	(0.09)	0.00	0.07	4.52	(2.90)	5.41	(4.40)	32.74
IAG	2.41	0.77	0.18	1.45	3.14	(2.63)	5.69	(4.96)	19.71
SUZ	0.97	(0.10)	0.00	(0.09)	0.00	0.00	1.59	(1.68)	9.18
ICL	1.40	0.07	0.00	0.27	1.60	(1.61)	3.94	(2.81)	9.21
EQX	2.49	0.99	0.25	(2.08)	2.62	(2.95)	6.40	(4.89)	25.00
HL	3.10	1.35	0.32	(5.04)	2.82	(3.65)	7.76	(4.17)	29.64
EMN	1.59	(0.27)	(0.06)	0.00	1.79	(1.96)	3.89	(3.60)	9.85
WLK	2.21	(0.43)	0.00	(0.04)	0.00	0.00	5.30	(3.89)	16.55
EXP	1.64	(0.28)	0.00	(0.05)	0.00	0.00	4.05	(2.99)	13.33

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