Kaiser Aluminum Correlations

KALU Stock

USD 81.41 1.17 1.46%

The current 90-days correlation between Kaiser Aluminum and Century Aluminum is 0.41 (i.e., Very weak diversification). The correlation of Kaiser Aluminum 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.

Kaiser Aluminum Correlation With Market

Poor diversification

The correlation between Kaiser Aluminum and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kaiser Aluminum and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Kaiser Aluminum. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

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

Moving together with Kaiser Stock

0.67	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.87	CENX	Century Aluminum	Pair Corr

Moving against Kaiser Stock

0.73	GOLD	Barrick Gold Corp Aggressive Push	Pair Corr
0.69	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.67	BAK	Braskem SA Class	Pair Corr
0.64	GURE	Gulf Resources	Pair Corr
0.52	EGO	Eldorado Gold Corp	Pair Corr
0.45	SA	Seabridge Gold	Pair Corr
0.35	AGI	Alamos Gold	Pair Corr
0.77	CE	Celanese	Pair Corr
0.63	CSTM	Constellium Nv	Pair Corr
0.59	NB	NioCorp Developments	Pair Corr
0.58	CGAU	Centerra Gold	Pair Corr
0.5	AU	AngloGold Ashanti plc	Pair Corr
0.49	NG	NovaGold Resources	Pair Corr
0.48	CX	Cemex SAB de	Pair Corr
0.38	HL	Hecla Mining	Pair Corr

Related Correlations Analysis

	CENX	NHYDY	CHHQF	CSTM	AA	AWCMY	NHYKF
CENX		0.66	0.83	-0.8	0.91	-0.59	0.59	CENX
NHYDY	0.66		0.49	-0.75	0.54	-0.39	0.23	NHYDY
CHHQF	0.83	0.49		-0.79	0.81	-0.52	0.55	CHHQF
CSTM	-0.8	-0.75	-0.79		-0.77	0.41	-0.42	CSTM
AA	0.91	0.54	0.81	-0.77		-0.32	0.77	AA
AWCMY	-0.59	-0.39	-0.52	0.41	-0.32		-0.11	AWCMY
NHYKF	0.59	0.23	0.55	-0.42	0.77	-0.11		NHYKF
	CENX	NHYDY	CHHQF	CSTM	AA	AWCMY	NHYKF

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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	+ 0.91	CENX
CHHQF	+ 0.83	CENX
AA	+ 0.81	CHHQF
NHYKF	+ 0.77	AA
NHYDY	+ 0.66	CENX
NHYKF	+ 0.59	CENX

High negative correlations

CSTM	- 0.8	CENX
CSTM	- 0.79	CHHQF
AA	- 0.77	CSTM
CSTM	- 0.75	NHYDY
AWCMY	- 0.59	CENX
AWCMY	- 0.52	CHHQF

Risk-Adjusted Indicators

There is a big difference between Kaiser Stock performing well and Kaiser Aluminum 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 Kaiser Aluminum'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
CENX	3.01	0.52	0.19	0.29	2.72	(3.58)	7.10	(4.60)	24.39
NHYDY	2.00	0.29	0.09	2.64	1.91	(2.39)	4.25	(3.46)	13.18
CHHQF	2.84	1.59	0.00	(1.37)	0.00	0.00	3.88	0.00	47.66
CSTM	2.35	(0.57)	0.00	(0.17)	0.00	0.00	4.76	(4.20)	33.72
AA	2.49	0.32	0.14	0.24	2.63	(2.85)	6.10	(5.76)	14.99
AWCMY	2.11	(0.14)	0.00	0.42	0.00	0.00	4.26	(4.29)	11.08
NHYKF	2.86	0.26	0.04	(1.83)	2.99	(4.18)	7.94	(5.44)	18.43

Kaiser Aluminum Corporate Management

Neal West	Chief Accounting Officer and VP	Profile
John JD	Chief VP	Profile
Blain Tiffany	Executive Marketing	Profile
Raymond Parkinson	Senior Engineering	Profile

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