Constellium Correlations

CSTM Stock

USD 9.34 0.19 1.99%

The current 90-days correlation between Constellium Nv and Century Aluminum is 0.27 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Constellium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Constellium Nv moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Constellium Correlation With Market

Weak diversification

The correlation between Constellium Nv and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellium Nv 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 Constellium Nv. 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 Constellium Stock

0.91	AA	Alcoa Corp	Pair Corr
0.71	EGO	Eldorado Gold Corp Earnings Call This Week	Pair Corr
0.89	HUN	Huntsman Earnings Call This Week	Pair Corr
0.96	OLN	Olin	Pair Corr
0.74	VHI	Valhi Inc	Pair Corr
0.9	KALU	Kaiser Aluminum Earnings Call This Week	Pair Corr
0.7	AUST	Austin Gold Corp	Pair Corr
0.86	TROX	Tronox Holdings PLC	Pair Corr
0.8	CENX	Century Aluminum Earnings Call This Week	Pair Corr
0.74	CTGO	Contango ORE	Pair Corr
0.74	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.77	CC	Chemours Downward Rally	Pair Corr
0.69	DD	Dupont De Nemours	Pair Corr
0.77	EU	enCore Energy Corp	Pair Corr
0.88	IE	Ivanhoe Electric	Pair Corr
0.79	NG	NovaGold Resources Downward Rally	Pair Corr
0.77	OC	Owens Corning	Pair Corr
0.76	RS	Reliance Steel Aluminum	Pair Corr

Moving against Constellium Stock

0.61	MEOH	Methanex	Pair Corr
0.42	SAND	Sandstorm Gold	Pair Corr
0.41	WLKP	Westlake Chemical Earnings Call This Week	Pair Corr
0.57	CX	Cemex SAB de	Pair Corr
0.54	AU	AngloGold Ashanti plc	Pair Corr
0.51	DC	Dakota Gold Corp	Pair Corr
0.7	NB	NioCorp Developments	Pair Corr
0.59	VZLA	Vizsla Resources Corp	Pair Corr

Related Correlations Analysis

	CENX	AA	CHHQF	NHYDY	AWCMY	NHYKF	KALU	ACHHY
CENX		0.89	-0.2	0.0	0.0	0.7	0.88	0.0	CENX
AA	0.89		-0.1	0.0	0.0	0.69	0.89	0.0	AA
CHHQF	-0.2	-0.1		0.0	0.0	-0.13	-0.26	0.0	CHHQF
NHYDY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	NHYDY
AWCMY	0.0	0.0	0.0	0.0		0.0	0.0	0.0	AWCMY
NHYKF	0.7	0.69	-0.13	0.0	0.0		0.68	0.0	NHYKF
KALU	0.88	0.89	-0.26	0.0	0.0	0.68		0.0	KALU
ACHHY	0.0	0.0	0.0	0.0	0.0	0.0	0.0		ACHHY
	CENX	AA	CHHQF	NHYDY	AWCMY	NHYKF	KALU	ACHHY

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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

AA	+ 0.89	CENX
KALU	+ 0.89	AA
KALU	+ 0.88	CENX
NHYKF	+ 0.7	CENX
NHYKF	+ 0.69	AA
KALU	+ 0.68	NHYKF

High negative correlations

KALU	- 0.26	CHHQF
CHHQF	- 0.2	CENX
NHYKF	- 0.13	CHHQF
CHHQF	- 0.1	AA
ACHHY	- 0.0	KALU
ACHHY	- 0.0	NHYKF

Risk-Adjusted Indicators

There is a big difference between Constellium Stock performing well and Constellium 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 Constellium'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CENX	2.65	(0.02)	(0.02)	0.00	0.00	6.10	(5.02)	23.01
AA	1.95	(0.29)	(1.00)	0.00	0.00	3.68	(5.88)	14.79
CHHQF	0.20	(0.03)	0.55	0.00	0.00	0.00	0.00	8.68
NHYDY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AWCMY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NHYKF	2.30	0.01	0.32	2.96	(2.39)	4.01	(4.83)	20.73
KALU	1.21	(0.26)	(0.48)	0.00	0.00	2.39	(2.89)	7.55
ACHHY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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