Worthington Steel Correlations

WS Stock

23.81 0.15 0.63%

The current 90-days correlation between Worthington Steel and Olympic Steel is 0.74 (i.e., Poor diversification). The correlation of Worthington 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Worthington Steel Correlation With Market

Poor diversification

The correlation between Worthington Steel and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worthington Steel and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worthington Steel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Worthington Stock please use our How to Invest in Worthington Steel guide.

Moving together with Worthington Stock

0.91	AA	Alcoa Corp	Pair Corr
0.81	BAK	Braskem SA Class	Pair Corr
0.86	DOW	Dow Inc	Pair Corr
0.95	OLN	Olin	Pair Corr
0.89	VHI	Valhi Inc	Pair Corr
0.77	ZEUS	Olympic Steel	Pair Corr
0.81	ZKIN	ZK International	Pair Corr
0.83	KALU	Kaiser Aluminum Earnings Call This Week	Pair Corr
0.68	CENX	Century Aluminum	Pair Corr
0.96	CC	Chemours	Pair Corr
0.88	CE	Celanese	Pair Corr
0.85	CF	CF Industries Holdings Earnings Call This Week	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr
0.89	EU	enCore Energy Corp	Pair Corr
0.9	FF	FutureFuel Corp	Pair Corr
0.7	IE	Ivanhoe Electric Downward Rally	Pair Corr
0.94	NX	Quanex Building Products	Pair Corr
0.91	OC	Owens Corning Earnings Call This Week	Pair Corr

Moving against Worthington Stock

0.74	GOLD	Barrick Gold Corp Aggressive Push	Pair Corr
0.71	AU	AngloGold Ashanti plc	Pair Corr
0.65	X	United States Steel	Pair Corr
0.55	IDR	Idaho Strategic Resources	Pair Corr
0.46	EGO	Eldorado Gold Corp	Pair Corr
0.41	MT	ArcelorMittal SA ADR	Pair Corr
0.34	AG	First Majestic Silver Aggressive Push	Pair Corr
0.59	NC	NACCO Industries	Pair Corr
0.54	MP	MP Materials Corp Upward Rally	Pair Corr
0.48	OR	Osisko Gold Ro	Pair Corr
0.39	VALE	Vale SA ADR Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ZEUS	TX	GGB	PKX	NUE	X	RS	CMC	SID	STLD
ZEUS		0.25	0.62	-0.19	0.75	-0.38	0.75	0.87	0.13	0.78	ZEUS
TX	0.25		0.8	0.63	0.55	-0.02	0.33	0.26	0.73	0.38	TX
GGB	0.62	0.8		0.26	0.73	-0.19	0.58	0.69	0.55	0.65	GGB
PKX	-0.19	0.63	0.26		0.11	0.18	0.08	-0.21	0.51	-0.04	PKX
NUE	0.75	0.55	0.73	0.11		-0.27	0.72	0.69	0.28	0.91	NUE
X	-0.38	-0.02	-0.19	0.18	-0.27		0.04	-0.39	0.46	-0.06	X
RS	0.75	0.33	0.58	0.08	0.72	0.04		0.69	0.32	0.85	RS
CMC	0.87	0.26	0.69	-0.21	0.69	-0.39	0.69		0.04	0.76	CMC
SID	0.13	0.73	0.55	0.51	0.28	0.46	0.32	0.04		0.3	SID
STLD	0.78	0.38	0.65	-0.04	0.91	-0.06	0.85	0.76	0.3		STLD
	ZEUS	TX	GGB	PKX	NUE	X	RS	CMC	SID	STLD

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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

STLD	+ 0.91	NUE
CMC	+ 0.87	ZEUS
STLD	+ 0.85	RS
GGB	+ 0.8	TX
STLD	+ 0.78	ZEUS
STLD	+ 0.76	CMC

High negative correlations

CMC	- 0.39	X
X	- 0.38	ZEUS
X	- 0.27	NUE
CMC	- 0.21	PKX
X	- 0.19	GGB
PKX	- 0.19	ZEUS

Risk-Adjusted Indicators

There is a big difference between Worthington Stock performing well and Worthington 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 Worthington 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
ZEUS	2.08	0.07	0.02	(0.01)	3.21	(1.91)	4.32	(4.24)	14.36
TX	1.79	(0.02)	0.00	(0.10)	0.00	0.00	2.99	(5.02)	12.04
GGB	2.13	(0.03)	0.00	(0.10)	0.00	0.00	3.99	(4.28)	14.22
PKX	2.24	0.12	0.04	0.05	2.66	(2.52)	5.47	(4.36)	14.43
NUE	1.99	0.05	0.00	(0.04)	0.00	0.00	4.00	(5.25)	16.65
X	2.31	0.34	0.14	3.26	2.69	(2.63)	4.79	(3.43)	25.68
RS	1.37	0.14	0.08	0.08	1.78	(1.50)	2.91	(2.70)	9.86
CMC	2.02	(0.04)	0.00	(0.10)	0.00	0.00	4.42	(4.45)	16.65
SID	2.71	0.37	0.11	0.23	2.79	(3.60)	7.30	(4.49)	21.05
STLD	1.96	0.17	0.05	0.05	2.58	(2.23)	4.13	(4.21)	15.47

Worthington Steel Corporate Executives

Elected by the shareholders, the Worthington Steel's board of directors comprises two types of representatives: Worthington Steel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Worthington. The board's role is to monitor Worthington Steel's management team and ensure that shareholders' interests are well served. Worthington Steel's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Worthington Steel's outside directors are responsible for providing unbiased perspectives on the board's policies.

Timothy Adams	VP CFO	Profile
Jeffrey Klingler	Executive COO	Profile
Jeffrey MD	Executive COO	Profile

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