ArcelorMittal Correlations

ARRD Stock

EUR 22.12 0.05 0.23%

The current 90-days correlation between ArcelorMittal SA and Nucor is 0.18 (i.e., Average diversification). The correlation of ArcelorMittal 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.

ArcelorMittal Correlation With Market

Average diversification

The correlation between ArcelorMittal SA and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ArcelorMittal SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ArcelorMittal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ArcelorMittal when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ArcelorMittal - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ArcelorMittal SA to buy it.

Moving together with ArcelorMittal Stock

0.89	ARRJ	ArcelorMittal	Pair Corr
0.63	SD5	Steel Dynamics	Pair Corr
0.69	RS6	Reliance Steel Aluminum	Pair Corr
0.62	AF4	HANOVER INSURANCE	Pair Corr
0.65	PPB	Flutter Entertainment PLC	Pair Corr
0.68	GOB	Compagnie de Saint	Pair Corr
0.64	2T9A	TRAINLINE PLC LS	Pair Corr
0.69	WD5A	TRAVEL LEISURE DL	Pair Corr
0.71	SK3	Smurfit Kappa Group	Pair Corr

Moving against ArcelorMittal Stock

0.51	PKX	POSCO Holdings	Pair Corr
0.5	HX1A	PT Hexindo Adiperkasa	Pair Corr
0.35	VAR1	Varta AG	Pair Corr

Related Correlations Analysis

	NUO	ARRD	ARRJ	SD5	NPS	PKX	9TO	RS6
NUO		0.3	0.27	0.7	0.37	0.18	0.2	0.62	NUO
ARRD	0.3		0.89	0.63	0.3	-0.51	0.25	0.69	ARRD
ARRJ	0.27	0.89		0.65	0.28	-0.57	0.2	0.7	ARRJ
SD5	0.7	0.63	0.65		0.13	-0.47	-0.05	0.93	SD5
NPS	0.37	0.3	0.28	0.13		0.19	0.62	0.15	NPS
PKX	0.18	-0.51	-0.57	-0.47	0.19		0.17	-0.56	PKX
9TO	0.2	0.25	0.2	-0.05	0.62	0.17		0.01	9TO
RS6	0.62	0.69	0.7	0.93	0.15	-0.56	0.01		RS6
	NUO	ARRD	ARRJ	SD5	NPS	PKX	9TO	RS6

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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

RS6	+ 0.93	SD5
ARRJ	+ 0.89	ARRD
SD5	+ 0.7	NUO
RS6	+ 0.7	ARRJ
RS6	+ 0.69	ARRD
SD5	+ 0.65	ARRJ

High negative correlations

PKX	- 0.57	ARRJ
RS6	- 0.56	PKX
PKX	- 0.51	ARRD
PKX	- 0.47	SD5
9TO	- 0.05	SD5

Risk-Adjusted Indicators

There is a big difference between ArcelorMittal Stock performing well and ArcelorMittal 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 ArcelorMittal'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
NUO	2.16	(0.26)	0.00	(0.34)	0.00	0.00	3.41	(4.13)	23.93
ARRD	1.45	0.07	0.02	0.24	1.73	(1.63)	4.27	(2.77)	10.70
ARRJ	1.61	0.09	0.02	(0.47)	1.69	(2.14)	4.46	(3.39)	10.20
SD5	1.75	0.04	0.02	0.09	1.89	(2.07)	4.28	(3.12)	14.44
NPS	2.49	(0.08)	0.00	0.35	0.00	0.00	4.82	(5.94)	26.55
PKX	1.98	(0.56)	0.00	(1.17)	0.00	0.00	4.11	(5.07)	11.52
9TO	1.28	(0.03)	(0.02)	(0.01)	1.63	(1.46)	3.27	(3.01)	7.39
RS6	1.42	(0.01)	(0.02)	0.03	1.59	(1.63)	2.15	(2.93)	15.24

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Our tools can tell you how much better you can do entering a position in ArcelorMittal without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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