Ryerson Holding Correlations

RYI Stock

USD 25.04 0.51 2.08%

The current 90-days correlation between Ryerson Holding Corp and Carpenter Technology is 0.24 (i.e., Modest diversification). The correlation of Ryerson Holding 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.

Ryerson Holding Correlation With Market

Average diversification

The correlation between Ryerson Holding Corp and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ryerson Holding Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Ryerson Holding 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 manufacturing.

Moving together with Ryerson Stock

0.65	ESAB	ESAB Corp	Pair Corr
0.76	IIIN	Insteel Industries	Pair Corr
0.73	NWPX	Northwest Pipe Earnings Call This Week	Pair Corr
0.61	R	Ryder System	Pair Corr
0.9	CR	Crane Company	Pair Corr

Moving against Ryerson Stock

0.66	HIHO	Highway Holdings	Pair Corr
0.48	BA	Boeing	Pair Corr
0.39	AP	Ampco Pittsburgh	Pair Corr
0.32	GIFI	Gulf Island Fabrication Earnings Call This Week	Pair Corr
0.62	RR	Richtech Robotics Class	Pair Corr

Related Correlations Analysis

	CRS	MLI	ATI	ESAB	NWPX	IIIN	GIFI	TG	HAYN	MEC
CRS		0.06	0.49	0.14	0.12	0.18	0.04	-0.08	0.0	-0.16	CRS
MLI	0.06		-0.04	0.37	0.15	0.14	0.18	0.28	0.0	0.22	MLI
ATI	0.49	-0.04		0.34	0.39	0.48	-0.14	0.09	0.0	0.0	ATI
ESAB	0.14	0.37	0.34		0.81	0.72	-0.02	0.04	0.0	0.61	ESAB
NWPX	0.12	0.15	0.39	0.81		0.69	-0.09	-0.37	0.0	0.5	NWPX
IIIN	0.18	0.14	0.48	0.72	0.69		-0.27	-0.04	0.0	0.34	IIIN
GIFI	0.04	0.18	-0.14	-0.02	-0.09	-0.27		0.04	0.0	0.19	GIFI
TG	-0.08	0.28	0.09	0.04	-0.37	-0.04	0.04		0.0	0.26	TG
HAYN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	HAYN
MEC	-0.16	0.22	0.0	0.61	0.5	0.34	0.19	0.26	0.0		MEC
	CRS	MLI	ATI	ESAB	NWPX	IIIN	GIFI	TG	HAYN	MEC

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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

NWPX	+ 0.81	ESAB
IIIN	+ 0.72	ESAB
IIIN	+ 0.69	NWPX
MEC	+ 0.61	ESAB
MEC	+ 0.5	NWPX
ATI	+ 0.49	CRS

High negative correlations

TG	- 0.37	NWPX
GIFI	- 0.27	IIIN
MEC	- 0.16	CRS
GIFI	- 0.14	ATI
GIFI	- 0.09	NWPX
TG	- 0.08	CRS

Risk-Adjusted Indicators

There is a big difference between Ryerson Stock performing well and Ryerson Holding 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 Ryerson Holding'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
CRS	2.00	0.06	0.02	0.07	2.85	(1.91)	3.53	(5.33)	15.39
MLI	1.27	(0.01)	(0.01)	(0.01)	1.65	(1.25)	2.69	(2.42)	9.47
ATI	1.50	(0.01)	0.00	0.00	1.95	(1.47)	2.91	(3.57)	14.67
ESAB	1.29	0.02	0.01	0.03	1.76	(1.32)	2.79	(3.03)	8.87
NWPX	1.50	(0.15)	0.00	(0.15)	0.00	0.00	3.21	(3.71)	8.79
IIIN	1.64	(0.04)	0.00	(0.03)	0.00	0.00	3.46	(3.04)	13.49
GIFI	1.54	(0.01)	(0.01)	(0.02)	2.02	(1.59)	4.02	(4.11)	9.65
TG	1.34	0.20	0.11	0.35	1.63	(1.44)	2.82	(2.37)	9.16
HAYN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MEC	1.41	(0.18)	0.00	(0.20)	0.00	0.00	2.31	(3.46)	7.29

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