BlueScope Steel Correlations

Summary

BLSFFDelisted Stock

USD 15.07 0.00 0.00%

The current 90-days correlation between BlueScope Steel and Nucor Corp is -0.1 (i.e., Good diversification). The correlation of BlueScope Steel 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.

BlueScope Steel Correlation With Market

Significant diversification

The correlation between BlueScope Steel Limited and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlueScope Steel Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BlueScope Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BlueScope Steel 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 BlueScope Steel - 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 BlueScope Steel Limited to buy it.

Moving against BlueScope Pink Sheet

0.49	030360AD3	US030360AD30	Pair Corr
0.43	EC	Ecopetrol SA ADR	Pair Corr
0.37	693627AQ4	US693627AQ47	Pair Corr
0.57	907818DZ8	UNION PAC P	Pair Corr

Related Correlations Analysis

	NUE	X	RS	MT	CMC	STLD	CLF	GGB
NUE		0.87	0.89	0.79	0.83	0.48	0.8	0.65	NUE
X	0.87		0.78	0.73	0.71	0.28	0.67	0.5	X
RS	0.89	0.78		0.9	0.98	0.55	0.63	0.81	RS
MT	0.79	0.73	0.9		0.9	0.61	0.59	0.69	MT
CMC	0.83	0.71	0.98	0.9		0.58	0.53	0.86	CMC
STLD	0.48	0.28	0.55	0.61	0.58		0.39	0.45	STLD
CLF	0.8	0.67	0.63	0.59	0.53	0.39		0.3	CLF
GGB	0.65	0.5	0.81	0.69	0.86	0.45	0.3		GGB
	NUE	X	RS	MT	CMC	STLD	CLF	GGB

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Risk-Adjusted Indicators

There is a big difference between BlueScope Pink Sheet performing well and BlueScope Steel 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 BlueScope Steel'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
NUE	1.59	0.20	0.12	0.39	1.56	(1.83)	3.53	(2.86)	16.16
X	2.20	0.27	0.10	0.46	2.48	(2.81)	4.50	(4.10)	25.71
RS	0.95	0.35	0.11	(2.62)	0.69	(1.03)	2.74	(1.56)	4.95
MT	1.51	0.35	0.13	2.26	1.14	(1.77)	4.00	(2.31)	8.02
CMC	1.41	0.45	0.12	(1.62)	1.22	(1.53)	3.68	(1.87)	10.10
STLD	1.66	(0.09)	(0.02)	0.14	1.73	(1.74)	3.99	(3.23)	13.54
CLF	3.84	0.40	0.13	0.42	4.16	(4.75)	7.88	(6.90)	31.26
GGB	1.82	0.26	0.05	1.53	1.70	(2.31)	4.80	(3.17)	10.58

BlueScope Steel Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BlueScope Steel pink sheet to make a market-neutral strategy. Peer analysis of BlueScope Steel could also be used in its relative valuation, which is a method of valuing BlueScope Steel by comparing valuation metrics with similar companies.

Nucor Corp Xurpas Inc Reliance Steel Aluminum ArcelorMittal SA ADR Commercial Metals Steel Dynamics Cleveland Cliffs Gerdau SA ADR American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

Risk & Return

Correlation

BlueScope Steel Corporate Management

BA BA	Chief Officer	Profile
Connell Zhang	Chief BlueScope	Profile
Patrick Finan	Chief America	Profile
John MBA	Chief Products	Profile
BCom BCom	CEO MD	Profile
Robin Davies	Chief Islands	Profile

Still Interested in BlueScope Steel Limited?

Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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