BlueScope Steel Correlations

BLSFFDelisted Stock

USD 15.07 0.00 0.00%

The current 90-days correlation between BlueScope Steel and Kumba Iron Ore is -0.12 (i.e., Good diversification). The correlation of BlueScope 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.

BlueScope Steel Correlation With Market

Very weak diversification

The correlation between BlueScope Steel Limited and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BlueScope Steel Limited and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to BlueScope Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BlueScope Steel when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BlueScope Steel - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BlueScope Steel Limited to buy it.

Moving together with BlueScope Pink Sheet

0.86	MT	ArcelorMittal SA ADR	Pair Corr
0.69	GGBR4	Gerdau SA	Pair Corr
0.73	GGBR3	Gerdau SA	Pair Corr
0.82	NUE	Nucor Corp	Pair Corr
0.79	STLD	Steel Dynamics	Pair Corr
0.8	AMSYF	ArcelorMittal SA	Pair Corr
0.88	PKX	POSCO Holdings	Pair Corr
0.74	NPSCY	Nippon Steel Corp	Pair Corr
0.67	CTBB	Qwest Corp NT	Pair Corr
0.68	CTDD	Qwest Corp 6	Pair Corr
0.79	FINN	First National	Pair Corr
0.9	SKM	SK Telecom	Pair Corr
0.83	LTSK	Ladenburg Thalmann	Pair Corr
0.66	MLSPF	Melrose Industries PLC	Pair Corr
0.83	HGKGY	Power Assets Holdings	Pair Corr
0.74	GRBK	Green Brick Partners Downward Rally	Pair Corr
0.68	GIC	Global Industrial	Pair Corr
0.87	PPCLY	PPC Ltd ADR	Pair Corr
0.77	DAC	Danaos	Pair Corr
0.77	GDS	GDS Holdings	Pair Corr
0.63	THLLY	Thales SA ADR Earnings Call Tomorrow	Pair Corr
0.74	GLAXF	GSK plc	Pair Corr
0.8	ORINY	Orion Oyj ADR	Pair Corr
0.76	MTRN	Materion	Pair Corr
0.63	KEYS	Keysight Technologies Tech Boost	Pair Corr
0.76	HOPE	Hope Bancorp	Pair Corr
0.84	FOVSY	Ford Otomotiv Sanayi	Pair Corr
0.74	SOMMY	Sumitomo Chemical	Pair Corr

Related Correlations Analysis

	KIROY	SSAAF	SSAAY	JFEEF	KBSTF	MCHIF	OCLDY	VLPNF	CSCCF	PILBF
KIROY		0.8	0.89	0.86	0.85	0.0	0.74	0.0	0.91	0.71	KIROY
SSAAF	0.8		0.83	0.74	0.86	0.0	0.73	0.0	0.76	0.76	SSAAF
SSAAY	0.89	0.83		0.9	0.88	0.0	0.81	0.0	0.79	0.82	SSAAY
JFEEF	0.86	0.74	0.9		0.85	0.0	0.73	0.0	0.71	0.66	JFEEF
KBSTF	0.85	0.86	0.88	0.85		0.0	0.67	0.0	0.8	0.65	KBSTF
MCHIF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MCHIF
OCLDY	0.74	0.73	0.81	0.73	0.67	0.0		0.0	0.66	0.84	OCLDY
VLPNF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	VLPNF
CSCCF	0.91	0.76	0.79	0.71	0.8	0.0	0.66	0.0		0.59	CSCCF
PILBF	0.71	0.76	0.82	0.66	0.65	0.0	0.84	0.0	0.59		PILBF
	KIROY	SSAAF	SSAAY	JFEEF	KBSTF	MCHIF	OCLDY	VLPNF	CSCCF	PILBF

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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

CSCCF	+ 0.91	KIROY
JFEEF	+ 0.9	SSAAY
SSAAY	+ 0.89	KIROY
KBSTF	+ 0.88	SSAAY
JFEEF	+ 0.86	KIROY
KBSTF	+ 0.86	SSAAF

High negative correlations

PILBF	- 0.0	VLPNF
CSCCF	- 0.0	VLPNF
VLPNF	- 0.0	OCLDY
PILBF	- 0.0	MCHIF
CSCCF	- 0.0	MCHIF
VLPNF	- 0.0	MCHIF

Risk-Adjusted Indicators

There is a big difference between BlueScope Pink Sheet performing well and BlueScope 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 BlueScope 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
KIROY	1.53	0.24	0.09	0.82	1.79	(1.80)	3.31	(2.76)	10.78
SSAAF	0.66	0.20	0.00	4.15	0.00	0.00	3.57	0.00	15.51
SSAAY	1.20	0.39	0.16	1.35	0.76	(2.21)	3.89	(2.71)	8.08
JFEEF	0.68	0.32	0.00	(0.33)	0.00	0.00	4.40	0.00	12.29
KBSTF	1.43	0.48	0.00	2.70	0.00	0.00	7.39	0.00	27.46
MCHIF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OCLDY	0.88	0.23	0.00	0.71	0.00	0.00	3.77	0.00	23.43
VLPNF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CSCCF	2.83	0.33	0.11	0.24	3.50	(3.10)	7.05	(5.47)	19.37
PILBF	3.12	0.51	0.15	0.39	3.28	(3.75)	7.60	(5.79)	23.96

BlueScope Steel Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with BlueScope Steel pink sheet to make a market-neutral strategy. Peer analysis of BlueScope Steel could also be used in its relative valuation, which is a method of valuing BlueScope Steel by comparing valuation metrics with similar companies.

Kumba Iron Ore SSAB AB SSAB AB ADR JFE Holdings Kobe Steel Maruichi Steel Tube Orica Ltd ADR Voestalpine AG Capstone Copper Corp Pilbara Minerals Limited American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

BlueScope Steel Corporate Management

BA BA	Chief Officer	Profile
Connell Zhang	Chief BlueScope	Profile
Patrick Finan	Chief America	Profile
John MBA	Chief Products	Profile
BCom BCom	CEO MD	Profile
Robin Davies	Chief Islands	Profile

Still Interested in BlueScope Steel Limited?

Investing in delisted pink sheets can be risky, as the pink sheet is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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