Nucor Correlations

N1UE34 Stock

BRL 55.20 0.91 1.62%

The current 90-days correlation between Nucor and United States Steel is 0.28 (i.e., Modest diversification). The correlation of Nucor 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.

Nucor Correlation With Market

Significant diversification

The correlation between Nucor and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nucor and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Nucor Stock

0.78	GOAU4	Metalurgica Gerdau	Pair Corr
0.79	GOAU3	Metalurgica Gerdau	Pair Corr
0.8	FESA4	Cia de Ferro	Pair Corr
0.71	OSXB3	OSX Brasil SA	Pair Corr
0.87	ESTR3	Manufatura de Brinquedos	Pair Corr
0.64	MAPT4	Cemepe Investimentos	Pair Corr

Moving against Nucor Stock

0.83	A2LC34	Alcon Inc Earnings Call This Week	Pair Corr
0.82	R1OP34	Roper Technologies,	Pair Corr
0.78	C1BO34	Cboe Global Markets,	Pair Corr
0.7	USSX34	United States Steel	Pair Corr
0.63	LEVE3	MAHLE Metal Leve	Pair Corr
0.55	BPAC11	Banco BTG Pactual	Pair Corr
0.45	TOTS3	TOTVS SA	Pair Corr
0.45	MATD3	Hospital Mater Dei	Pair Corr

Related Correlations Analysis

	USSX34	CSNA3	GOAU4	GOAU3	USIM6	USIM3	FESA4
USSX34		0.04	-0.68	-0.68	-0.43	-0.25	-0.78	USSX34
CSNA3	0.04		0.36	0.39	-0.14	0.37	0.29	CSNA3
GOAU4	-0.68	0.36		0.99	0.53	0.35	0.85	GOAU4
GOAU3	-0.68	0.39	0.99		0.55	0.36	0.86	GOAU3
USIM6	-0.43	-0.14	0.53	0.55		0.08	0.44	USIM6
USIM3	-0.25	0.37	0.35	0.36	0.08		0.36	USIM3
FESA4	-0.78	0.29	0.85	0.86	0.44	0.36		FESA4
	USSX34	CSNA3	GOAU4	GOAU3	USIM6	USIM3	FESA4

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

GOAU3	+ 0.99	GOAU4
FESA4	+ 0.86	GOAU3
FESA4	+ 0.85	GOAU4
USIM6	+ 0.55	GOAU3
USIM6	+ 0.53	GOAU4
FESA4	+ 0.44	USIM6

High negative correlations

FESA4	- 0.78	USSX34
GOAU3	- 0.68	USSX34
GOAU4	- 0.68	USSX34
USIM6	- 0.43	USSX34
USIM3	- 0.25	USSX34
USIM6	- 0.14	CSNA3

Risk-Adjusted Indicators

There is a big difference between Nucor Stock performing well and Nucor 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 Nucor'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
USSX34	1.68	0.21	0.12	(1.02)	1.92	(2.75)	4.14	(4.21)	25.60
CSNA3	2.10	0.18	0.10	0.47	2.44	(2.38)	5.11	(5.17)	18.40
GOAU4	1.56	(0.28)	0.00	1.80	0.00	0.00	3.19	(4.11)	10.06
GOAU3	1.42	(0.23)	0.00	1.76	0.00	0.00	2.41	(3.83)	9.88
USIM6	0.73	(0.36)	0.00	(1.98)	0.00	0.00	0.00	0.00	18.00
USIM3	1.89	0.07	0.07	1.18	2.50	(2.08)	4.52	(4.52)	12.79
FESA4	1.27	(0.15)	0.00	2.20	0.00	0.00	2.75	(2.77)	9.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nucor 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.

Did you try this?

Run Fundamentals Comparison Now

Fundamentals Comparison

Compare fundamentals across multiple equities to find investing opportunities

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC