Algoma Steel Correlations

ASTL Stock

USD 6.15 0.16 2.54%

The current 90-days correlation between Algoma Steel Group and Aperam PK is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Algoma Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Steel Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Algoma Steel Correlation With Market

Weak diversification

The correlation between Algoma Steel Group and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Algoma Steel Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. 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 Algoma Stock

0.81	AA	Alcoa Corp	Pair Corr
0.76	CE	Celanese	Pair Corr
0.74	IE	Ivanhoe Electric	Pair Corr
0.8	WS	Worthington Steel	Pair Corr
0.78	HYMCW	Hycroft Mining Holding	Pair Corr
0.71	CMC	Commercial Metals	Pair Corr
0.7	DOW	Dow Inc	Pair Corr

Moving against Algoma Stock

0.89	AGI	Alamos Gold	Pair Corr
0.85	MT	ArcelorMittal SA ADR	Pair Corr
0.83	AEM	Agnico Eagle Mines	Pair Corr
0.78	AU	AngloGold Ashanti plc	Pair Corr
0.74	DC	Dakota Gold Corp	Pair Corr
0.73	X	United States Steel	Pair Corr
0.68	BTG	B2Gold Corp	Pair Corr
0.63	TX	Ternium SA ADR	Pair Corr
0.48	HYMCL	Hycroft Mining Holding	Pair Corr
0.47	AG	First Majestic Silver	Pair Corr
0.44	WLKP	Westlake Chemical	Pair Corr
0.35	RS	Reliance Steel Aluminum	Pair Corr
0.91	DRD	DRDGOLD Limited ADR	Pair Corr
0.88	FNV	Franco Nevada	Pair Corr
0.87	GFI	Gold Fields	Pair Corr
0.76	EQX	Equinox Gold Corp	Pair Corr
0.72	HMY	Harmony Gold Mining	Pair Corr
0.71	PKX	POSCO Holdings	Pair Corr
0.69	NEM	Newmont Goldcorp Corp	Pair Corr
0.68	KGC	Kinross Gold	Pair Corr
0.64	NGD	New Gold	Pair Corr
0.59	NUE	Nucor Corp	Pair Corr
0.55	EXK	Endeavour Silver Corp	Pair Corr
0.5	FSM	Fortuna Silver Mines	Pair Corr
0.34	IDR	Idaho Strategic Resources Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	FRD	AMSYF	APEMY	ANIOY	ASTLW	SCHN	RS	USAP
FRD		0.52	0.41	0.42	-0.35	0.0	0.22	0.0	FRD
AMSYF	0.52		0.86	0.91	-0.87	0.0	0.33	0.0	AMSYF
APEMY	0.41	0.86		0.89	-0.87	0.0	0.28	0.0	APEMY
ANIOY	0.42	0.91	0.89		-0.92	0.0	0.41	0.0	ANIOY
ASTLW	-0.35	-0.87	-0.87	-0.92		0.0	-0.27	0.0	ASTLW
SCHN	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SCHN
RS	0.22	0.33	0.28	0.41	-0.27	0.0		0.0	RS
USAP	0.0	0.0	0.0	0.0	0.0	0.0	0.0		USAP
	FRD	AMSYF	APEMY	ANIOY	ASTLW	SCHN	RS	USAP

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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

ANIOY	+ 0.91	AMSYF
ANIOY	+ 0.89	APEMY
APEMY	+ 0.86	AMSYF
AMSYF	+ 0.52	FRD
ANIOY	+ 0.42	FRD
APEMY	+ 0.41	FRD

High negative correlations

ASTLW	- 0.92	ANIOY
ASTLW	- 0.87	APEMY
ASTLW	- 0.87	AMSYF
ASTLW	- 0.35	FRD
RS	- 0.27	ASTLW
USAP	- 0.0	RS

Risk-Adjusted Indicators

There is a big difference between Algoma Stock performing well and Algoma 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 Algoma 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
FRD	2.09	0.21	0.08	0.29	2.44	(2.39)	5.33	(3.60)	18.89
AMSYF	0.84	0.30	0.00	3.91	0.00	0.00	2.81	0.00	17.47
APEMY	1.09	0.15	0.05	(0.52)	1.86	(2.74)	3.93	(1.80)	12.32
ANIOY	1.34	0.38	0.12	1.45	1.38	(3.32)	6.36	(3.30)	15.95
ASTLW	5.59	(1.68)	0.00	(2.88)	0.00	0.00	10.61	(15.38)	30.33
SCHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RS	1.19	(0.02)	0.00	(0.10)	0.00	0.00	2.41	(2.69)	5.82
USAP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Algoma Steel Corporate Management

Michael Garcia	CEO Director	Profile
Rory Brandow	Vice Sales	Profile
Mike Panzeri	Senior Production	Profile
Loris Molino	VP Services	Profile
Piper Frech	Interim Officer	Profile
Brenda Stenta	Manager Branding	Profile
Michael Panzeri	Senior Production	Profile

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