Nucor Corp Correlations

NUE Stock

USD 131.05 1.24 0.96%

The current 90-days correlation between Nucor Corp and United States Steel is 0.48 (i.e., Very weak diversification). The correlation of Nucor Corp 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.

Nucor Corp Correlation With Market

Very weak diversification

The correlation between Nucor Corp and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nucor Corp 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 Nucor Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

For information on how to trade Nucor Stock refer to our How to Trade Nucor Stock guide.

Moving together with Nucor Stock

0.79	X	United States Steel Sell-off Trend	Pair Corr
0.81	AU	AngloGold Ashanti plc	Pair Corr
0.77	DC	Dakota Gold Corp	Pair Corr
0.68	MT	ArcelorMittal SA ADR	Pair Corr
0.83	RS	Reliance Steel Aluminum	Pair Corr
0.64	HYMCL	Hycroft Mining Holding	Pair Corr
0.75	WLKP	Westlake Chemical	Pair Corr
0.79	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.74	AGI	Alamos Gold	Pair Corr
0.78	CLF	Cleveland Cliffs	Pair Corr
0.87	EQX	Equinox Gold Corp Sell-off Trend	Pair Corr
0.73	FNV	Franco Nevada	Pair Corr
0.77	GFI	Gold Fields	Pair Corr
0.73	HMY	Harmony Gold Mining	Pair Corr

Moving against Nucor Stock

0.5	IE	Ivanhoe Electric	Pair Corr
0.46	CE	Celanese	Pair Corr
0.34	EGO	Eldorado Gold Corp	Pair Corr
0.32	AA	Alcoa Corp	Pair Corr
0.32	DOW	Dow Inc	Pair Corr
0.31	HYMCW	Hycroft Mining Holding	Pair Corr
0.54	OLN	Olin	Pair Corr
0.53	ODV	Osisko Development Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	X	RS	MT	CMC	STLD	GGB	CLF	PKX	TX	ZEUS
X		0.61	0.68	-0.25	0.79	-0.2	0.51	0.2	0.36	-0.03	X
RS	0.61		0.4	0.44	0.87	0.33	0.76	0.14	0.31	0.64	RS
MT	0.68	0.4		-0.35	0.51	-0.01	0.19	0.59	0.64	-0.11	MT
CMC	-0.25	0.44	-0.35		0.22	0.78	0.53	-0.28	0.01	0.87	CMC
STLD	0.79	0.87	0.51	0.22		0.14	0.84	0.0	0.28	0.4	STLD
GGB	-0.2	0.33	-0.01	0.78	0.14		0.32	0.02	0.43	0.78	GGB
CLF	0.51	0.76	0.19	0.53	0.84	0.32		-0.17	0.2	0.6	CLF
PKX	0.2	0.14	0.59	-0.28	0.0	0.02	-0.17		0.6	-0.13	PKX
TX	0.36	0.31	0.64	0.01	0.28	0.43	0.2	0.6		0.19	TX
ZEUS	-0.03	0.64	-0.11	0.87	0.4	0.78	0.6	-0.13	0.19		ZEUS
	X	RS	MT	CMC	STLD	GGB	CLF	PKX	TX	ZEUS

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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	+ 0.87	RS
ZEUS	+ 0.87	CMC
CLF	+ 0.84	STLD
STLD	+ 0.79	X
GGB	+ 0.78	CMC
ZEUS	+ 0.78	GGB

High negative correlations

CMC	- 0.35	MT
PKX	- 0.28	CMC
CMC	- 0.25	X
GGB	- 0.2	X
PKX	- 0.17	CLF
ZEUS	- 0.13	PKX

Risk-Adjusted Indicators

There is a big difference between Nucor Stock performing well and Nucor Corp 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 Nucor Corp'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
X	2.42	0.39	0.14	0.31	2.57	(2.72)	5.46	(4.07)	16.06
RS	1.22	(0.06)	0.00	(0.17)	0.00	0.00	2.41	(2.70)	5.82
MT	2.05	0.43	0.24	0.71	1.73	(2.62)	6.03	(2.93)	16.40
CMC	1.82	(0.29)	0.00	(0.33)	0.00	0.00	3.82	(3.79)	10.89
STLD	1.61	0.03	0.00	(0.07)	0.00	0.00	4.13	(3.38)	10.47
GGB	1.81	(0.09)	0.00	(0.20)	0.00	0.00	3.96	(4.14)	10.97
CLF	3.21	(0.09)	0.00	(0.15)	0.00	0.00	7.86	(6.84)	28.73
PKX	1.75	0.26	0.13	0.25	2.01	(1.84)	4.76	(3.58)	11.46
TX	1.37	0.07	0.09	0.40	1.64	(1.43)	2.58	(3.15)	7.48
ZEUS	1.99	(0.28)	0.00	(0.37)	0.00	0.00	3.32	(4.65)	13.58

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