Companhia Siderurgica Correlations

SID Stock

USD 1.77 0.01 0.57%

The current 90-days correlation between Companhia Siderurgica and ArcelorMittal SA ADR is -0.17 (i.e., Good diversification). The correlation of Companhia Siderurgica 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.

Companhia Siderurgica Correlation With Market

Average diversification

The correlation between Companhia Siderurgica Nacional and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Companhia Siderurgica Nacional and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Companhia Siderurgica Nacional. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Companhia Stock

0.71	AU	AngloGold Ashanti plc	Pair Corr
0.67	AEM	Agnico Eagle Mines	Pair Corr
0.72	BTG	B2Gold Corp	Pair Corr
0.67	GFI	Gold Fields	Pair Corr
0.66	KGC	Kinross Gold Aggressive Push	Pair Corr
0.67	NEM	Newmont Goldcorp Corp	Pair Corr
0.72	WPM	Wheaton Precious Metals	Pair Corr
0.67	GOLD	Barrick Gold Corp Aggressive Push	Pair Corr
0.71	PAAS	Pan American Silver	Pair Corr
0.73	SAND	Sandstorm Gold Buyout Trend	Pair Corr
0.69	AG	First Majestic Silver	Pair Corr
0.69	OR	Osisko Gold Ro	Pair Corr
0.72	TX	Ternium SA ADR	Pair Corr

Moving against Companhia Stock

0.57	FF	FutureFuel Corp	Pair Corr
0.55	EU	enCore Energy Corp	Pair Corr
0.53	CF	CF Industries Holdings	Pair Corr
0.41	CC	Chemours	Pair Corr
0.34	AA	Alcoa Corp	Pair Corr
0.62	ASH	Ashland Global Holdings	Pair Corr
0.61	APT	Alpha Pro Tech	Pair Corr
0.58	WTTR	Select Energy Services	Pair Corr
0.55	FMST	Foremost Lithium Resource	Pair Corr
0.54	ELBM	Electra Battery Materials	Pair Corr
0.54	FEAM	5E Advanced Materials	Pair Corr
0.54	AMR	Alpha Metallurgical	Pair Corr
0.52	TT	Trane Technologies plc	Pair Corr
0.5	ALB	Albemarle Corp	Pair Corr

Related Correlations Analysis

	TX	MT	CMC	SCHN	OUTKY	ZEUS	USAP	PKX	USNZY
TX		0.77	-0.51	0.0	0.73	-0.19	0.0	0.71	0.64	TX
MT	0.77		-0.49	0.0	0.89	-0.1	0.0	0.69	0.75	MT
CMC	-0.51	-0.49		0.0	-0.46	0.67	0.0	-0.62	-0.18	CMC
SCHN	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	SCHN
OUTKY	0.73	0.89	-0.46	0.0		-0.09	0.0	0.74	0.74	OUTKY
ZEUS	-0.19	-0.1	0.67	0.0	-0.09		0.0	-0.37	0.28	ZEUS
USAP	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	USAP
PKX	0.71	0.69	-0.62	0.0	0.74	-0.37	0.0		0.4	PKX
USNZY	0.64	0.75	-0.18	0.0	0.74	0.28	0.0	0.4		USNZY
	TX	MT	CMC	SCHN	OUTKY	ZEUS	USAP	PKX	USNZY

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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

OUTKY	+ 0.89	MT
MT	+ 0.77	TX
USNZY	+ 0.75	MT
PKX	+ 0.74	OUTKY
USNZY	+ 0.74	OUTKY
OUTKY	+ 0.73	TX

High negative correlations

PKX	- 0.62	CMC
CMC	- 0.51	TX
CMC	- 0.49	MT
OUTKY	- 0.46	CMC
PKX	- 0.37	ZEUS
ZEUS	- 0.19	TX

Risk-Adjusted Indicators

There is a big difference between Companhia Stock performing well and Companhia Siderurgica 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 Companhia Siderurgica'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
TX	1.31	0.14	0.11	0.77	1.37	(1.45)	2.58	(2.71)	7.72
MT	2.07	0.42	0.21	0.82	1.81	(2.53)	6.03	(3.21)	16.40
CMC	1.71	0.02	0.00	(0.01)	0.00	0.00	4.16	(2.97)	10.89
SCHN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OUTKY	1.61	0.49	0.00	(5.56)	0.00	0.00	8.03	(3.03)	14.99
ZEUS	1.85	(0.05)	0.00	(0.06)	0.00	0.00	3.32	(4.18)	13.58
USAP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PKX	1.82	0.22	0.09	0.27	2.23	(1.92)	4.76	(3.76)	14.35
USNZY	2.95	0.17	0.04	0.21	3.25	(4.06)	8.51	(4.76)	23.26

Companhia Siderurgica Corporate Management

Pedro Quariguasi	Executive Officer, Strategic Business Area	Profile
Milton Filho	Exec Board	Profile
David Salama	Member of Board of Executive Officer, Executive Officer of Insurance, Credit and Equity and Member of Financial Committee	Profile
Alexandre Lyra	Executive Board	Profile
Miguel Sobrinho	Independent Director	Profile
Rogrio Moreira	Executive Officer	Profile
Helena Guerra	Director HSE	Profile

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