ArcelorMittal Correlations

MT Stock

USD 27.77 1.22 4.60%

The current 90-days correlation between ArcelorMittal SA ADR and Gerdau SA ADR is 0.63 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ArcelorMittal Correlation With Market

Poor diversification

The correlation between ArcelorMittal SA ADR and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ArcelorMittal SA ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ArcelorMittal Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ArcelorMittal SA ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with ArcelorMittal Stock

0.61	CSTM	Constellium Nv Sell-off Trend	Pair Corr
0.69	DC	Dakota Gold Corp	Pair Corr
0.61	MP	MP Materials Corp Earnings Call Next Week	Pair Corr
0.67	TX	Ternium SA ADR	Pair Corr
0.75	VALE	Vale SA ADR Aggressive Push	Pair Corr

Moving against ArcelorMittal Stock

0.51	CF	CF Industries Holdings	Pair Corr
0.42	OLN	Olin	Pair Corr
0.36	CTGO	Contango ORE	Pair Corr
0.5	EU	enCore Energy Corp	Pair Corr
0.47	FF	FutureFuel Corp	Pair Corr
0.46	OC	Owens Corning	Pair Corr
0.33	TT	Trane Technologies plc	Pair Corr
0.65	FEAM	5E Advanced Materials	Pair Corr
0.37	WTTR	Select Energy Services Earnings Call This Week	Pair Corr
0.33	HYMCW	Hycroft Mining Holding	Pair Corr

Related Correlations Analysis

	SCHN	ZEUS	TX	GGB	PKX	NUE	X	RS	CMC
SCHN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SCHN
ZEUS	0.0		0.34	0.67	-0.19	0.78	-0.53	0.78	0.91	ZEUS
TX	0.0	0.34		0.83	0.61	0.62	-0.13	0.38	0.4	TX
GGB	0.0	0.67	0.83		0.25	0.79	-0.32	0.64	0.77	GGB
PKX	0.0	-0.19	0.61	0.25		0.12	0.16	0.03	-0.16	PKX
NUE	0.0	0.78	0.62	0.79	0.12		-0.42	0.74	0.78	NUE
X	0.0	-0.53	-0.13	-0.32	0.16	-0.42		-0.28	-0.45	X
RS	0.0	0.78	0.38	0.64	0.03	0.74	-0.28		0.82	RS
CMC	0.0	0.91	0.4	0.77	-0.16	0.78	-0.45	0.82		CMC
	SCHN	ZEUS	TX	GGB	PKX	NUE	X	RS	CMC

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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

CMC	+ 0.91	ZEUS
GGB	+ 0.83	TX
CMC	+ 0.82	RS
NUE	+ 0.79	GGB
NUE	+ 0.78	ZEUS
RS	+ 0.78	ZEUS

High negative correlations

X	- 0.53	ZEUS
CMC	- 0.45	X
X	- 0.42	NUE
X	- 0.32	GGB
RS	- 0.28	X
PKX	- 0.19	ZEUS

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
SCHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZEUS	2.05	0.04	0.00	(0.10)	0.00	0.00	3.32	(4.24)	13.89
TX	1.77	0.06	0.00	(0.06)	0.00	0.00	2.99	(5.02)	12.04
GGB	2.04	0.06	0.00	(0.09)	0.00	0.00	3.94	(4.28)	14.22
PKX	2.27	0.18	0.07	0.05	2.62	(2.64)	5.47	(4.36)	14.43
NUE	2.05	0.07	0.00	(0.09)	0.00	0.00	3.76	(5.25)	16.65
X	2.31	0.35	0.12	0.31	2.95	(2.54)	4.50	(5.84)	25.68
RS	1.38	0.12	0.07	(0.01)	1.79	(1.52)	3.03	(2.70)	9.86
CMC	1.93	(0.04)	0.00	(0.17)	0.00	0.00	4.15	(4.45)	16.19

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