ArcelorMittal Correlations

MTS Stock

EUR 52.10 0.36 0.69%

The current 90-days correlation between ArcelorMittal SA and Plasticos Compuestos SA is 0.15 (i.e., Average diversification). The correlation of ArcelorMittal 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.

ArcelorMittal Correlation With Market

Very poor diversification

The correlation between ArcelorMittal SA and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ArcelorMittal SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ArcelorMittal could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ArcelorMittal 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 ArcelorMittal - 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 ArcelorMittal SA to buy it.

Moving together with ArcelorMittal Stock

0.92	APAM	Aperam SA	Pair Corr
0.86	ACX	Acerinox	Pair Corr
0.87	XBRPO	Bradespar SA	Pair Corr
0.72	RBT	Robot SA	Pair Corr
0.68	CLNX	Cellnex Telecom SA	Pair Corr
0.88	YIBI	IBI Lion SOCIMI	Pair Corr
0.86	LOG	Cia de Distribucion	Pair Corr
0.86	IBG	Iberpapel Gestion	Pair Corr
0.76	CABK	Caixabank SA	Pair Corr
0.94	ROVI	Laboratorios Farmaceuticos	Pair Corr
0.9	HOME	Neinor Homes SLU	Pair Corr
0.61	UNI	Unicaja Banco SA	Pair Corr
0.9	SCYR	Sacyr SA	Pair Corr
0.87	GRE	Grenergy Renovables	Pair Corr
0.63	ART	Arteche Lantegi Elkartea	Pair Corr
0.78	IAG	International Consolidated	Pair Corr
0.64	HBX	HBX Group International	Pair Corr
0.9	NTH	Naturhouse Health	Pair Corr
0.69	ENG	Enags SA Earnings Call Tomorrow	Pair Corr
0.66	ALQ	Alquiber Quality	Pair Corr
0.96	AENA	Aena SA	Pair Corr
0.83	YTCH	Techo Hogar SOCIMI	Pair Corr
0.65	ALC	Altia Consultores	Pair Corr
0.76	TRE	Tecnicas Reunidas	Pair Corr
0.69	ECR	Ercros Earnings Call This Week	Pair Corr

Moving against ArcelorMittal Stock

0.88	TRG	Tubos Reunidos SA	Pair Corr
0.8	NAT	Natac Natural Ingredients	Pair Corr
0.67	YQUO	Quonia SOCIMI SA	Pair Corr
0.44	NYE	Nyesa Valores Corp	Pair Corr

Related Correlations Analysis

	ACX	TUB	TRG	XVALO	MCM	IBG	ECR	ENC	KOM
ACX		0.43	-0.82	0.85	0.5	0.78	0.79	0.13	-0.8	ACX
TUB	0.43		-0.05	0.33	0.13	0.26	0.09	0.31	-0.18	TUB
TRG	-0.82	-0.05		-0.85	-0.49	-0.81	-0.85	0.03	0.94	TRG
XVALO	0.85	0.33	-0.85		0.44	0.85	0.69	-0.05	-0.89	XVALO
MCM	0.5	0.13	-0.49	0.44		0.35	0.59	0.19	-0.48	MCM
IBG	0.78	0.26	-0.81	0.85	0.35		0.72	-0.1	-0.81	IBG
ECR	0.79	0.09	-0.85	0.69	0.59	0.72		-0.08	-0.78	ECR
ENC	0.13	0.31	0.03	-0.05	0.19	-0.1	-0.08		0.01	ENC
KOM	-0.8	-0.18	0.94	-0.89	-0.48	-0.81	-0.78	0.01		KOM
	ACX	TUB	TRG	XVALO	MCM	IBG	ECR	ENC	KOM

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

KOM	+ 0.94	TRG
XVALO	+ 0.85	ACX
IBG	+ 0.85	XVALO
ECR	+ 0.79	ACX
IBG	+ 0.78	ACX
ECR	+ 0.72	IBG

High negative correlations

KOM	- 0.89	XVALO
ECR	- 0.85	TRG
XVALO	- 0.85	TRG
TRG	- 0.82	ACX
KOM	- 0.81	IBG
IBG	- 0.81	TRG

Risk-Adjusted Indicators

There is a big difference between ArcelorMittal Stock performing well and ArcelorMittal 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 ArcelorMittal'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
ACX	1.32	0.23	0.12	0.45	1.42	(1.45)	2.47	(2.42)	7.62
TUB	1.00	0.01	(0.03)	0.09	1.27	(1.25)	2.35	(2.01)	7.16
TRG	2.62	(0.48)	0.00	5.35	0.00	0.00	3.45	(5.26)	15.41
XVALO	1.29	0.38	0.21	0.75	1.13	(1.44)	3.09	(1.91)	6.72
MCM	0.88	0.04	(0.02)	(0.78)	1.04	(1.15)	2.13	(1.75)	5.39
IBG	0.78	0.13	0.05	2.73	0.83	(1.10)	2.02	(1.91)	5.40
ECR	0.50	0.17	0.14	(6.50)	0.00	(1.09)	2.23	(0.61)	6.06
ENC	1.24	0.01	(0.01)	0.08	1.35	(1.63)	2.49	(2.89)	8.68
KOM	0.86	(0.35)	0.00	3.60	0.00	0.00	0.00	(3.53)	11.86

Be your own money manager

Our tools can tell you how much better you can do entering a position in ArcelorMittal 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.

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