Ternium SA Correlations
| TX Stock | USD 32.50 0.47 1.43% |
The current 90-days correlation between Ternium SA ADR and Steel Dynamics is 0.39 (i.e., Weak diversification). The correlation of Ternium SA 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.
Ternium SA Correlation With Market
Significant diversification
The correlation between Ternium SA ADR and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ternium SA ADR and DJI in the same portfolio, assuming nothing else is changed.
Ternium |
Moving together with Ternium Stock
| 0.66 | AGI | Alamos Gold Sell-off Trend | PairCorr |
| 0.75 | NGD | New Gold | PairCorr |
| 0.79 | AG | First Majestic Silver Aggressive Push | PairCorr |
| 0.68 | MT | ArcelorMittal SA ADR | PairCorr |
| 0.74 | VALE | Vale SA ADR Aggressive Push | PairCorr |
Moving against Ternium Stock
| 0.63 | EU | enCore Energy Corp | PairCorr |
| 0.53 | FF | FutureFuel Corp | PairCorr |
| 0.41 | CC | Chemours | PairCorr |
| 0.41 | CF | CF Industries Holdings | PairCorr |
| 0.37 | OC | Owens Corning | PairCorr |
| 0.31 | CE | Celanese | PairCorr |
| 0.61 | MEOH | Methanex | PairCorr |
| 0.4 | TT | Trane Technologies plc | PairCorr |
| 0.39 | ECVT | Ecovyst Downward Rally | PairCorr |
| 0.38 | ELBM | Electra Battery Materials | PairCorr |
| 0.36 | HYMCW | Hycroft Mining Holding | PairCorr |
| 0.34 | MTRN | Materion | PairCorr |
| 0.31 | NEXA | Nexa Resources SA | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Ternium Stock performing well and Ternium SA 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 Ternium SA'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PKX | 1.75 | 0.25 | 0.12 | 0.24 | 2.01 | 4.76 | 11.46 | |||
| STLD | 1.60 | 0.05 | 0.00 | (0.03) | 0.00 | 4.13 | 10.47 | |||
| GGB | 1.81 | (0.11) | 0.00 | (0.19) | 0.00 | 3.96 | 10.97 | |||
| NUE | 1.62 | 0.02 | 0.00 | (0.06) | 0.00 | 3.76 | 10.83 | |||
| SID | 2.65 | (0.01) | 0.00 | (0.09) | 0.00 | 7.19 | 16.53 | |||
| MT | 2.07 | 0.45 | 0.24 | 0.74 | 1.75 | 6.03 | 16.40 | |||
| CMC | 1.84 | (0.30) | 0.00 | (0.31) | 0.00 | 3.82 | 10.89 | |||
| SCHN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ZEUS | 2.02 | (0.24) | 0.00 | (0.31) | 0.00 | 3.32 | 13.58 | |||
| USAP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |