Worthington Steel Correlations

WS Stock

26.18 1.69 6.06%

The current 90-days correlation between Worthington Steel and Integral Ad Science is -0.21 (i.e., Very good diversification). The correlation of Worthington Steel 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.

Worthington Steel Correlation With Market

Average diversification

The correlation between Worthington Steel and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worthington Steel and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worthington Steel. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Worthington Stock please use our How to Invest in Worthington Steel guide.

Moving together with Worthington Stock

0.73	AA	Alcoa Corp	Pair Corr
0.77	IE	Ivanhoe Electric Buyout Trend	Pair Corr
0.91	NX	Quanex Building Products	Pair Corr
0.75	TT	Trane Technologies plc	Pair Corr
0.78	METC	Ramaco Resources	Pair Corr
0.75	HYMCW	Hycroft Mining Holding	Pair Corr

Moving against Worthington Stock

0.67	AGI	Alamos Gold	Pair Corr
0.65	AU	AngloGold Ashanti plc	Pair Corr
0.65	MP	MP Materials Corp	Pair Corr
0.64	X	United States Steel	Pair Corr
0.64	NC	NACCO Industries	Pair Corr
0.62	HMY	Harmony Gold Mining	Pair Corr
0.62	KGC	Kinross Gold Aggressive Push	Pair Corr
0.59	DC	Dakota Gold Corp	Pair Corr
0.53	MT	ArcelorMittal SA ADR	Pair Corr
0.52	NB	NioCorp Developments	Pair Corr
0.46	CX	Cemex SAB de	Pair Corr
0.43	NGD	New Gold	Pair Corr
0.38	IAG	IAMGold	Pair Corr
0.69	USARW	USARW Symbol Change	Pair Corr
0.52	VZLA	Vizsla Resources Corp	Pair Corr
0.45	NFGC	New Found Gold	Pair Corr
0.43	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.32	MERC	Mercer International	Pair Corr

Related Correlations Analysis

	JBL	NCMI	IAS	CNET	MSN	RNECF	CODA
JBL		0.53	0.34	0.21	0.75	0.07	0.47	JBL
NCMI	0.53		0.68	0.45	0.15	-0.18	0.59	NCMI
IAS	0.34	0.68		0.41	-0.04	-0.14	0.41	IAS
CNET	0.21	0.45	0.41		0.02	-0.62	0.62	CNET
MSN	0.75	0.15	-0.04	0.02		0.01	0.43	MSN
RNECF	0.07	-0.18	-0.14	-0.62	0.01		-0.55	RNECF
CODA	0.47	0.59	0.41	0.62	0.43	-0.55		CODA
	JBL	NCMI	IAS	CNET	MSN	RNECF	CODA

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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

MSN	+ 0.75	JBL
IAS	+ 0.68	NCMI
CODA	+ 0.62	CNET
CODA	+ 0.59	NCMI
NCMI	+ 0.53	JBL
CODA	+ 0.47	JBL

High negative correlations

RNECF	- 0.62	CNET
CODA	- 0.55	RNECF
RNECF	- 0.18	NCMI
RNECF	- 0.14	IAS
MSN	- 0.04	IAS

Risk-Adjusted Indicators

There is a big difference between Worthington Stock performing well and Worthington Steel 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 Worthington Steel'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
JBL	1.65	0.22	0.08	0.10	2.50	(1.61)	3.25	(3.42)	15.22
NCMI	2.13	(0.26)	0.00	(0.45)	0.00	0.00	4.01	(4.28)	26.42
IAS	1.44	(0.29)	0.00	0.51	0.00	0.00	1.95	(3.51)	14.44
CNET	3.23	(0.05)	0.00	(0.14)	0.00	0.00	7.22	(5.49)	27.82
MSN	2.69	0.23	0.05	0.32	3.12	(4.64)	6.38	(6.12)	33.84
RNECF	2.31	0.30	0.10	(1.74)	2.45	(3.48)	6.73	(4.21)	20.46
CODA	1.75	(0.38)	0.00	(1.21)	0.00	0.00	4.27	(3.92)	11.73

Worthington Steel Corporate Executives

Elected by the shareholders, the Worthington Steel's board of directors comprises two types of representatives: Worthington Steel inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Worthington. The board's role is to monitor Worthington Steel's management team and ensure that shareholders' interests are well served. Worthington Steel's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Worthington Steel's outside directors are responsible for providing unbiased perspectives on the board's policies.

Timothy Adams	VP CFO	Profile
Jeffrey Klingler	Executive COO	Profile
Jeffrey MD	Executive COO	Profile

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