3M Correlations

MMM Stock

USD 132.48 0.47 0.35%

The current 90-days correlation between 3M Company and Griffon is 0.36 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 3M moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 3M Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

3M Correlation With Market

Poor diversification

The correlation between 3M Company and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 3M Company and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in 3M Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with 3M Stock

0.77	FA	First Advantage Corp	Pair Corr
0.65	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Moving against 3M Stock

0.47	AZ	A2Z Smart Technologies	Pair Corr
0.4	GBX	Greenbrier Companies	Pair Corr
0.43	YHNAU	YHN Acquisition I	Pair Corr
0.33	VATE	Innovate Corp Trending	Pair Corr

Related Correlations Analysis

	GFF	AAVXF	MSTSX	ID	KNF	LICY	CIRAX	SEIC	GSHD	EURL
GFF		0.0	0.33	0.7	0.58	0.21	0.01	0.61	0.64	-0.57	GFF
AAVXF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AAVXF
MSTSX	0.33	0.0		0.46	0.67	0.65	0.82	0.42	0.33	-0.09	MSTSX
ID	0.7	0.0	0.46		0.83	0.47	0.11	0.81	0.83	-0.68	ID
KNF	0.58	0.0	0.67	0.83		0.73	0.33	0.86	0.83	-0.67	KNF
LICY	0.21	0.0	0.65	0.47	0.73		0.4	0.65	0.54	-0.42	LICY
CIRAX	0.01	0.0	0.82	0.11	0.33	0.4		-0.05	-0.13	0.39	CIRAX
SEIC	0.61	0.0	0.42	0.81	0.86	0.65	-0.05		0.98	-0.89	SEIC
GSHD	0.64	0.0	0.33	0.83	0.83	0.54	-0.13	0.98		-0.91	GSHD
EURL	-0.57	0.0	-0.09	-0.68	-0.67	-0.42	0.39	-0.89	-0.91		EURL
	GFF	AAVXF	MSTSX	ID	KNF	LICY	CIRAX	SEIC	GSHD	EURL

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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

GSHD	+ 0.98	SEIC
SEIC	+ 0.86	KNF
KNF	+ 0.83	ID
GSHD	+ 0.83	ID
GSHD	+ 0.83	KNF
CIRAX	+ 0.82	MSTSX

High negative correlations

EURL	- 0.91	GSHD
EURL	- 0.89	SEIC
EURL	- 0.68	ID
EURL	- 0.67	KNF
EURL	- 0.57	GFF
EURL	- 0.42	LICY

Risk-Adjusted Indicators

There is a big difference between 3M Stock performing well and 3M 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 3M'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
GFF	1.74	0.20	0.14	0.24	1.74	(1.99)	3.14	(3.11)	22.84
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
ID	3.77	0.53	0.10	0.68	4.01	(5.10)	7.69	(6.67)	20.54
KNF	1.55	0.21	0.13	0.23	1.90	(1.62)	2.77	(2.46)	12.78
LICY	6.73	0.67	0.09	0.90	6.69	(8.44)	14.15	(10.47)	55.51
CIRAX	0.34	(0.05)	(0.26)	0.00	0.43	(0.34)	0.66	(0.82)	1.81
SEIC	0.81	0.21	0.19	0.37	0.57	(0.95)	1.57	(1.56)	7.23
GSHD	1.67	0.61	0.41	1.00	0.83	(2.15)	5.06	(2.22)	14.35
EURL	2.00	(0.56)	0.00	(0.38)	0.00	0.00	2.74	(5.13)	12.68

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