3M Correlations

MMM Stock

USD 171.82 2.01 1.16%

The current 90-days correlation between 3M Company and Northrop Grumman is 0.19 (i.e., Average 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

Good diversification

The correlation between 3M Company and DJI is -0.11 (i.e., Good 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.

Build AI portfolio with 3M Stock

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 state.

Moving together with 3M Stock

0.83

MMM

3M Company

Pair Corr

Moving against 3M Stock

0.51

BYW

BayWa Aktiengesellschaft

Pair Corr

Related Correlations Analysis

	NOC	GD	WM	EMR	HWM	UPS	PH	ITW	HON	TT
NOC		0.75	0.8	0.9	0.76	0.88	0.9	0.82	0.95	0.43	NOC
GD	0.75		0.48	0.74	0.66	0.61	0.65	0.43	0.66	0.02	GD
WM	0.8	0.48		0.77	0.65	0.82	0.8	0.75	0.77	0.26	WM
EMR	0.9	0.74	0.77		0.67	0.92	0.95	0.82	0.89	0.34	EMR
HWM	0.76	0.66	0.65	0.67		0.77	0.77	0.71	0.76	0.39	HWM
UPS	0.88	0.61	0.82	0.92	0.77		0.96	0.92	0.93	0.43	UPS
PH	0.9	0.65	0.8	0.95	0.77	0.96		0.89	0.91	0.4	PH
ITW	0.82	0.43	0.75	0.82	0.71	0.92	0.89		0.91	0.7	ITW
HON	0.95	0.66	0.77	0.89	0.76	0.93	0.91	0.91		0.59	HON
TT	0.43	0.02	0.26	0.34	0.39	0.43	0.4	0.7	0.59		TT
	NOC	GD	WM	EMR	HWM	UPS	PH	ITW	HON	TT

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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
NOC	1.29	0.32	0.17	0.71	1.41	(1.53)	2.91	(1.87)	9.88
GD	1.07	(0.06)	(0.04)	0.00	1.50	(1.05)	2.28	(2.71)	7.72
WM	0.82	0.22	0.14	0.81	0.94	(0.85)	2.06	(1.56)	6.00
EMR	1.55	0.11	0.07	0.11	2.22	(1.53)	3.43	(3.47)	11.44
HWM	1.48	0.23	0.14	0.36	1.33	(1.72)	3.56	(2.29)	7.17
UPS	1.11	0.35	0.26	0.43	0.93	(1.28)	3.16	(1.61)	7.68
PH	0.98	0.20	0.19	0.26	0.81	(1.10)	2.41	(1.56)	5.24
ITW	0.98	0.27	0.20	0.36	0.86	(1.08)	2.77	(2.12)	6.58
HON	1.04	0.27	0.23	0.35	0.86	(1.21)	2.22	(1.93)	6.08
TT	1.27	0.06	0.03	0.13	1.48	(1.29)	2.42	(2.68)	10.64

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