Russel Metals Correlations
| RUSMF Stock | USD 33.85 1.14 3.26% |
The current 90-days correlation between Russel Metals and Befesa SA is -0.03 (i.e., Good diversification). The correlation of Russel Metals 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.
Russel Metals Correlation With Market
Very poor diversification
The correlation between Russel Metals and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Russel Metals and DJI in the same portfolio, assuming nothing else is changed.
Russel |
The ability to find closely correlated positions to Russel Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Russel Metals 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 Russel Metals - 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 Russel Metals to buy it.
Moving together with Russel Pink Sheet
| 0.8 | EC | Ecopetrol SA ADR | PairCorr |
| 0.82 | KEP | Korea Electric Power | PairCorr |
| 0.79 | PTITF | PT Indosat Tbk | PairCorr |
| 0.96 | BNEFF | Bonterra Energy Corp | PairCorr |
| 0.7 | NTZ | Natuzzi SpA | PairCorr |
| 0.74 | AES | AES Aggressive Push | PairCorr |
| 0.63 | NNBR | NN Inc | PairCorr |
| 0.9 | USPH | US Physicalrapy | PairCorr |
| 0.93 | SLSR | Solaris Resources | PairCorr |
| 0.86 | GS | Goldman Sachs Group | PairCorr |
| 0.74 | TORO | Toro | PairCorr |
| 0.74 | GRBK | Green Brick Partners | PairCorr |
| 0.71 | UMAC | Unusual Machines | PairCorr |
| 0.89 | CGECF | Cogeco Inc | PairCorr |
| 0.92 | MEEEF | Metal Energy Corp | PairCorr |
| 0.84 | CYD | China Yuchai Interna | PairCorr |
| 0.86 | CAMZF | Camino Minerals | PairCorr |
| 0.91 | FRSB | First Resource Bank | PairCorr |
| 0.89 | TOGOF | TomaGold | PairCorr |
| 0.88 | EMMA | Emmaus Life Sciences | PairCorr |
| 0.8 | INTC | Intel | PairCorr |
Moving against Russel Pink Sheet
| 0.65 | PTAIF | PT Astra International | PairCorr |
| 0.49 | PIFMY | Indofood Sukses Makmur | PairCorr |
| 0.6 | AFIIQ | Armstrong Flooring | PairCorr |
| 0.36 | WELL | Welltower Earnings Call This Week | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Russel Pink Sheet performing well and Russel Metals 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 Russel Metals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BFSAF | 0.55 | 0.26 | 0.00 | 1.35 | 0.00 | 0.00 | 18.37 | |||
| SYRVF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PCFBY | 2.91 | 0.44 | 0.08 | (7.57) | 2.93 | 9.85 | 22.74 | |||
| GROUF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GKTRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ECTXF | 0.19 | 0.09 | 0.00 | (2.86) | 0.00 | 0.00 | 4.38 | |||
| CHCLY | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SOIEF | 0.70 | (0.13) | 0.00 | 9.00 | 0.00 | 2.00 | 17.77 | |||
| HOEGF | 1.43 | 0.44 | 0.18 | (2.18) | 1.48 | 3.43 | 9.19 | |||
| HSYDF | 4.36 | 0.31 | 0.04 | (0.53) | 4.78 | 10.52 | 26.97 |
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Russel Metals Corporate Executives
Elected by the shareholders, the Russel Metals' board of directors comprises two types of representatives: Russel Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Russel. The board's role is to monitor Russel Metals' management team and ensure that shareholders' interests are well served. Russel Metals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Russel Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.