ArcelorMittal Correlations

MT Stock

USD 31.58 0.42 1.31%

The current 90-days correlation between ArcelorMittal SA ADR and Gerdau SA ADR is 0.4 (i.e., Very weak diversification). The correlation of ArcelorMittal 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.

ArcelorMittal Correlation With Market

Average diversification

The correlation between ArcelorMittal SA ADR and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ArcelorMittal SA ADR 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 ArcelorMittal SA ADR. 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 ArcelorMittal Stock

0.83	AU	AngloGold Ashanti plc	Pair Corr
0.89	AEM	Agnico Eagle Mines	Pair Corr
0.73	BTG	B2Gold Corp	Pair Corr
0.79	EQX	Equinox Gold Corp	Pair Corr
0.92	GFI	Gold Fields	Pair Corr
0.71	KGC	Kinross Gold	Pair Corr
0.79	NEM	Newmont Goldcorp Corp	Pair Corr
0.95	WPM	Wheaton Precious Metals	Pair Corr
0.94	GOLD	Barrick Gold Corp	Pair Corr
0.88	PAAS	Pan American Silver	Pair Corr
0.87	SAND	Sandstorm Gold	Pair Corr
0.72	X	United States Steel	Pair Corr
0.83	DC	Dakota Gold Corp	Pair Corr
0.83	MP	MP Materials Corp	Pair Corr
0.77	NC	NACCO Industries	Pair Corr
0.74	TX	Ternium SA ADR	Pair Corr

Moving against ArcelorMittal Stock

0.93	EU	enCore Energy Corp	Pair Corr
0.87	FF	FutureFuel Corp	Pair Corr
0.8	CF	CF Industries Holdings	Pair Corr
0.76	CC	Chemours	Pair Corr
0.72	CE	Celanese	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.67	IE	Ivanhoe Electric	Pair Corr
0.88	AMR	Alpha Metallurgical	Pair Corr
0.88	ASH	Ashland Global Holdings	Pair Corr
0.87	FEAM	5E Advanced Materials	Pair Corr
0.86	WTTR	Select Energy Services	Pair Corr
0.83	FMST	Foremost Lithium Resource	Pair Corr
0.81	TT	Trane Technologies plc	Pair Corr
0.8	ALB	Albemarle Corp	Pair Corr
0.76	FBIN	Fortune Brands Innov	Pair Corr
0.75	HYMCW	Hycroft Mining Holding	Pair Corr

Related Correlations Analysis

	SCHN	ZEUS	TX	GGB	PKX	NUE	X	RS	CMC
SCHN		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	SCHN
ZEUS	0.0		-0.09	0.58	-0.27	0.26	-0.01	0.54	0.79	ZEUS
TX	0.0	-0.09		0.31	0.68	0.39	0.52	0.16	-0.4	TX
GGB	0.0	0.58	0.31		0.02	0.0	-0.1	0.07	0.52	GGB
PKX	0.0	-0.27	0.68	0.02		0.13	0.34	0.08	-0.52	PKX
NUE	0.0	0.26	0.39	0.0	0.13		0.78	0.82	-0.06	NUE
X	0.0	-0.01	0.52	-0.1	0.34	0.78		0.65	-0.3	X
RS	0.0	0.54	0.16	0.07	0.08	0.82	0.65		0.24	RS
CMC	0.0	0.79	-0.4	0.52	-0.52	-0.06	-0.3	0.24		CMC
	SCHN	ZEUS	TX	GGB	PKX	NUE	X	RS	CMC

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

RS	+ 0.82	NUE
CMC	+ 0.79	ZEUS
X	+ 0.78	NUE
PKX	+ 0.68	TX
RS	+ 0.65	X
GGB	+ 0.58	ZEUS

High negative correlations

CMC	- 0.52	PKX
CMC	- 0.4	TX
CMC	- 0.3	X
PKX	- 0.27	ZEUS
X	- 0.1	GGB
TX	- 0.09	ZEUS

Risk-Adjusted Indicators

There is a big difference between ArcelorMittal Stock performing well and ArcelorMittal 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 ArcelorMittal'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
SCHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZEUS	2.02	(0.23)	0.00	(0.30)	0.00	0.00	3.32	(4.65)	13.58
TX	1.37	0.06	0.07	0.46	1.60	(1.47)	2.58	(2.74)	7.48
GGB	1.74	(0.06)	0.00	(0.13)	0.00	0.00	3.96	(3.56)	10.97
PKX	1.86	0.24	0.10	0.24	2.32	(1.89)	4.76	(3.76)	11.46
NUE	1.57	0.05	0.00	(0.02)	0.00	0.00	3.76	(3.37)	10.83
X	2.37	0.41	0.16	0.39	2.46	(2.72)	5.46	(4.07)	16.06
RS	1.19	(0.02)	0.00	(0.10)	0.00	0.00	2.41	(2.69)	5.82
CMC	1.79	(0.21)	0.00	(0.23)	0.00	0.00	3.82	(3.76)	10.89

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

2024 Macroaxis LLC