Constellium Correlations

CSTM Stock

USD 11.35 0.41 3.49%

The current 90-days correlation between Constellium Nv and Century Aluminum is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Constellium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Constellium Nv moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Constellium Correlation With Market

Modest diversification

The correlation between Constellium Nv and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellium Nv 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 Constellium Nv. 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 against Constellium Stock

0.68	OC	Owens Corning	Pair Corr
0.64	EU	enCore Energy Corp	Pair Corr
0.59	CC	Chemours Potential Growth	Pair Corr
0.59	FF	FutureFuel Corp	Pair Corr
0.55	CE	Celanese	Pair Corr
0.46	CDE	Coeur Mining Aggressive Push	Pair Corr
0.45	CF	CF Industries Holdings	Pair Corr
0.37	AA	Alcoa Corp	Pair Corr
0.36	IAG	IAMGold	Pair Corr
0.36	NB	NioCorp Developments	Pair Corr
0.73	MEOH	Methanex	Pair Corr
0.71	ECVT	Ecovyst	Pair Corr
0.6	MTRN	Materion	Pair Corr
0.51	MTUS	Metallus,	Pair Corr
0.46	HYMCW	Hycroft Mining Holding	Pair Corr
0.44	NITO	N2OFF Inc	Pair Corr
0.35	ELBM	Electra Battery Materials Buyout Trend	Pair Corr
0.34	SA	Seabridge Gold Earnings Call This Week	Pair Corr
0.34	USGOW	US GoldMining Warrant	Pair Corr
0.31	ENFY	Enlightify Symbol Change	Pair Corr

Related Correlations Analysis

	CENX	AA	CHHQF	NHYDY	AWCMY	NHYKF	KALU	ACHHY
CENX		0.43	0.18	0.0	0.0	0.1	0.63	0.0	CENX
AA	0.43		0.07	0.0	0.0	-0.59	0.6	0.0	AA
CHHQF	0.18	0.07		0.0	0.0	0.27	0.01	0.0	CHHQF
NHYDY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NHYDY
AWCMY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	AWCMY
NHYKF	0.1	-0.59	0.27	0.0	0.0		-0.15	0.0	NHYKF
KALU	0.63	0.6	0.01	0.0	0.0	-0.15		0.0	KALU
ACHHY	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ACHHY
	CENX	AA	CHHQF	NHYDY	AWCMY	NHYKF	KALU	ACHHY

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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

KALU	+ 0.63	CENX
KALU	+ 0.6	AA
AA	+ 0.43	CENX
NHYKF	+ 0.27	CHHQF
CHHQF	+ 0.18	CENX
NHYKF	+ 0.1	CENX

High negative correlations

NHYKF	- 0.59	AA
KALU	- 0.15	NHYKF
ACHHY	- 0.0	KALU
ACHHY	- 0.0	NHYKF
ACHHY	- 0.0	AWCMY
KALU	- 0.0	AWCMY

Risk-Adjusted Indicators

There is a big difference between Constellium Stock performing well and Constellium 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 Constellium'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
CENX	3.42	0.12	0.02	0.00	4.86	(3.66)	8.04	(7.35)	23.49
AA	2.12	(0.09)	0.00	(0.17)	0.00	0.00	3.94	(5.76)	13.88
CHHQF	0.96	0.43	0.00	0.71	0.00	0.00	0.00	0.00	30.56
NHYDY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AWCMY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NHYKF	2.32	0.19	0.09	0.45	2.53	(2.57)	4.71	(4.53)	12.74
KALU	1.49	(0.11)	0.00	(0.30)	0.00	0.00	3.07	(3.37)	9.62
ACHHY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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