Algoma Steel Correlations

ASTL Stock

USD 11.37 0.12 1.07%

The current 90-days correlation between Algoma Steel Group and Aperam PK is -0.06 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Algoma Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Steel Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Algoma Steel Correlation With Market

Very weak diversification

The correlation between Algoma Steel Group and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Algoma Steel Group and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Algoma Stock

0.76	RS	Reliance Steel Aluminum	Pair Corr
0.82	WS	Worthington Steel	Pair Corr
0.76	CMC	Commercial Metals	Pair Corr

Moving against Algoma Stock

0.81	CE	Celanese	Pair Corr
0.72	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.61	BAK	Braskem SA Class	Pair Corr
0.59	SA	Seabridge Gold	Pair Corr
0.57	AU	AngloGold Ashanti plc	Pair Corr
0.47	NG	NovaGold Resources	Pair Corr
0.46	AGI	Alamos Gold	Pair Corr
0.36	HYMCW	Hycroft Mining Holding	Pair Corr
0.77	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.77	ODV	Osisko Development Corp Buyout Trend	Pair Corr
0.68	ERO	Ero Copper Corp	Pair Corr
0.63	EGO	Eldorado Gold Corp	Pair Corr
0.6	PKX	POSCO Holdings	Pair Corr
0.58	HUN	Huntsman	Pair Corr
0.43	EQX	Equinox Gold Corp	Pair Corr
0.4	IDR	Idaho Strategic Resources	Pair Corr
0.37	OLN	Olin Fiscal Year End 23rd of January 2025	Pair Corr
0.32	HMY	Harmony Gold Mining	Pair Corr

Related Correlations Analysis

	FRD	AMSYF	APEMY	ANIOY	ASTLW	TMST	SCHN	RS	USAP
FRD		-0.12	0.44	0.65	-0.23	-0.39	-0.02	-0.16	-0.32	FRD
AMSYF	-0.12		0.58	-0.39	0.42	0.72	0.59	0.62	0.56	AMSYF
APEMY	0.44	0.58		0.19	0.02	0.27	0.52	0.29	0.34	APEMY
ANIOY	0.65	-0.39	0.19		-0.46	-0.73	-0.23	-0.5	-0.48	ANIOY
ASTLW	-0.23	0.42	0.02	-0.46		0.6	0.04	0.73	0.37	ASTLW
TMST	-0.39	0.72	0.27	-0.73	0.6		0.57	0.83	0.78	TMST
SCHN	-0.02	0.59	0.52	-0.23	0.04	0.57		0.48	0.54	SCHN
RS	-0.16	0.62	0.29	-0.5	0.73	0.83	0.48		0.74	RS
USAP	-0.32	0.56	0.34	-0.48	0.37	0.78	0.54	0.74		USAP
	FRD	AMSYF	APEMY	ANIOY	ASTLW	TMST	SCHN	RS	USAP

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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

RS	+ 0.83	TMST
USAP	+ 0.78	TMST
USAP	+ 0.74	RS
RS	+ 0.73	ASTLW
TMST	+ 0.72	AMSYF
ANIOY	+ 0.65	FRD

High negative correlations

TMST	- 0.73	ANIOY
RS	- 0.5	ANIOY
USAP	- 0.48	ANIOY
ASTLW	- 0.46	ANIOY
ANIOY	- 0.39	AMSYF
TMST	- 0.39	FRD

Risk-Adjusted Indicators

There is a big difference between Algoma Stock performing well and Algoma 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 Algoma 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
FRD	2.12	(0.17)	0.00	(0.03)	0.00	0.00	5.41	(4.84)	12.55
AMSYF	0.47	0.24	0.00	(2.67)	0.00	0.00	0.00	0.00	4.09
APEMY	2.14	0.20	0.04	0.83	2.79	(2.49)	5.52	(6.14)	16.16
ANIOY	1.17	0.00	0.00	0.00	0.00	0.00	3.56	(4.40)	17.16
ASTLW	3.78	0.51	0.12	0.38	4.14	(4.56)	7.93	(7.91)	28.47
TMST	1.64	0.37	0.16	(1.90)	1.46	(1.98)	4.81	(2.47)	13.11
SCHN	1.66	0.09	0.01	0.51	2.05	(1.68)	3.12	(3.33)	13.80
RS	1.35	0.01	0.06	0.09	1.51	(1.51)	3.26	(2.15)	14.02
USAP	1.75	0.05	0.04	0.12	2.32	(1.87)	5.18	(4.35)	15.05

Algoma Steel Corporate Management

Michael Garcia	CEO Director	Profile
Rory Brandow	Vice Sales	Profile
Brenda Stenta	Manager Branding	Profile
Rajat Marwah	Chief Officer	Profile
Mike Panzeri	Senior Production	Profile
Michael Moraca	Treasurer Officer	Profile
Loris Molino	VP Services	Profile

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