Cleveland Cliffs Correlations
| CLF Stock | MXN 208.50 2.50 1.18% |
The current 90-days correlation between Cleveland Cliffs and GMxico Transportes SAB is -0.11 (i.e., Good diversification). The correlation of Cleveland Cliffs 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.
Cleveland Cliffs Correlation With Market
Weak diversification
The correlation between Cleveland Cliffs and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cleveland Cliffs and DJI in the same portfolio, assuming nothing else is changed.
Cleveland |
The ability to find closely correlated positions to Cleveland Cliffs could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Cleveland Cliffs 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 Cleveland Cliffs - 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 Cleveland Cliffs to buy it.
Moving together with Cleveland Stock
| 0.74 | RION | Rio Tinto Group | PairCorr |
| 0.87 | VALEN | Vale SA | PairCorr |
| 0.74 | MFRISCOA-1 | Minera Frisco SAB | PairCorr |
| 0.75 | AUTLANB | Compaa Minera Autln | PairCorr |
Moving against Cleveland Stock
| 0.82 | BA | Boeing | PairCorr |
| 0.77 | PINFRAL | Promotora y Operadora | PairCorr |
| 0.75 | GPROFUT | Grupo Profuturo SAB | PairCorr |
| 0.74 | Q | Qulitas Controladora SAB | PairCorr |
| 0.64 | NFLX | Netflix | PairCorr |
| 0.6 | LUV | Southwest Airlines | PairCorr |
| 0.59 | EDUCA18 | Fideicomiso Irrevocable | PairCorr |
| 0.56 | BCSN | Barclays PLC | PairCorr |
| 0.55 | VISTAA | Vista Oil Gas | PairCorr |
| 0.5 | HON | Honeywell International | PairCorr |
| 0.48 | DIS | Walt Disney Earnings Call This Week | PairCorr |
| 0.48 | AMP | Ameriprise Financial | PairCorr |
| 0.38 | MA | Mastercard Incorporated | PairCorr |
| 0.31 | RCL | Royal Caribbean Group | PairCorr |
Related Correlations Analysis
| -0.05 | -0.54 | 0.33 | 0.34 | 0.64 | 0.0 | SMSNN | ||
| -0.05 | -0.25 | -0.19 | 0.38 | -0.09 | 0.0 | HOTEL | ||
| -0.54 | -0.25 | -0.2 | -0.51 | -0.5 | 0.0 | GMXT | ||
| 0.33 | -0.19 | -0.2 | 0.51 | 0.16 | 0.0 | MU | ||
| 0.34 | 0.38 | -0.51 | 0.51 | 0.14 | 0.0 | X | ||
| 0.64 | -0.09 | -0.5 | 0.16 | 0.14 | 0.0 | HOMEX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | MUX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Cleveland Stock performing well and Cleveland Cliffs 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 Cleveland Cliffs' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SMSNN | 0.69 | (0.18) | 0.00 | 0.42 | 0.00 | 0.22 | 11.25 | |||
| HOTEL | 1.27 | 0.12 | 0.01 | (1.04) | 1.51 | 3.47 | 9.26 | |||
| GMXT | 1.24 | 0.02 | (0.04) | 0.25 | 1.61 | 2.78 | 6.32 | |||
| MU | 2.70 | (0.28) | 0.00 | (0.06) | 0.00 | 6.06 | 24.54 | |||
| X | 2.30 | (0.02) | (0.02) | 0.05 | 3.08 | 6.89 | 19.03 | |||
| HOMEX | 1.49 | (0.71) | 0.00 | 1.18 | 0.00 | 0.00 | 50.00 | |||
| MUX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Cleveland Cliffs without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
Run Risk-Return Analysis Now
Risk-Return AnalysisView associations between returns expected from investment and the risk you assume |
| All Next | Launch Module |