3M Correlations

MMM Stock

USD 128.38 0.54 0.42%

The current 90-days correlation between 3M Company and Small Cap Core is 0.07 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 3M moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 3M Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

3M Correlation With Market

Poor diversification

The correlation between 3M Company and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 3M Company 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 3M Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving against 3M Stock

0.55	MPU	Mega Matrix Corp	Pair Corr
0.44	VSTE	Vast Renewables	Pair Corr
0.39	SMXT	Solarmax Technology	Pair Corr
0.35	AZ	A2Z Smart Technologies	Pair Corr

Related Correlations Analysis

	SCRYX	FTLF	MURIX	GFL	SVII	VLSMX	GFI	KNF	AMYZF	FPCG
SCRYX		-0.05	0.27	0.6	0.61	0.73	0.16	0.73	-0.63	0.0	SCRYX
FTLF	-0.05		0.38	-0.19	-0.09	-0.01	-0.57	-0.29	0.39	0.0	FTLF
MURIX	0.27	0.38		-0.18	-0.21	0.44	-0.12	-0.03	0.3	0.0	MURIX
GFL	0.6	-0.19	-0.18		0.4	0.14	-0.12	0.31	-0.32	0.0	GFL
SVII	0.61	-0.09	-0.21	0.4		0.5	0.39	0.73	-0.76	0.0	SVII
VLSMX	0.73	-0.01	0.44	0.14	0.5		0.38	0.72	-0.53	0.0	VLSMX
GFI	0.16	-0.57	-0.12	-0.12	0.39	0.38		0.49	-0.53	0.0	GFI
KNF	0.73	-0.29	-0.03	0.31	0.73	0.72	0.49		-0.86	0.0	KNF
AMYZF	-0.63	0.39	0.3	-0.32	-0.76	-0.53	-0.53	-0.86		0.0	AMYZF
FPCG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		FPCG
	SCRYX	FTLF	MURIX	GFL	SVII	VLSMX	GFI	KNF	AMYZF	FPCG

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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

VLSMX	+ 0.73	SCRYX
KNF	+ 0.73	SCRYX
KNF	+ 0.73	SVII
KNF	+ 0.72	VLSMX
SVII	+ 0.61	SCRYX
GFL	+ 0.6	SCRYX

High negative correlations

AMYZF	- 0.86	KNF
AMYZF	- 0.76	SVII
AMYZF	- 0.63	SCRYX
GFI	- 0.57	FTLF
AMYZF	- 0.53	GFI
AMYZF	- 0.53	VLSMX

Risk-Adjusted Indicators

There is a big difference between 3M Stock performing well and 3M 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 3M'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
SCRYX	0.97	0.09	0.01	0.99	0.96	(1.10)	2.39	(1.69)	7.88
FTLF	1.21	(0.01)	(0.01)	0.07	2.00	(1.24)	3.21	(2.29)	14.26
MURIX	0.39	(0.01)	0.00	0.21	0.00	0.00	0.80	(0.93)	3.44
GFL	1.23	0.05	0.02	0.15	1.36	(1.32)	2.97	(2.29)	7.37
SVII	0.20	(0.02)	(0.11)	0.00	0.39	(0.32)	0.44	(0.53)	4.77
VLSMX	0.36	(0.03)	(0.14)	0.03	0.44	(0.38)	0.77	(0.76)	2.22
GFI	2.21	(0.15)	0.00	1.25	0.00	0.00	4.52	(5.41)	14.93
KNF	1.58	0.26	0.15	0.22	1.88	(1.66)	4.01	(2.46)	12.96
AMYZF	3.86	(0.16)	0.00	1.86	0.00	0.00	7.41	(8.75)	21.04
FPCG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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