Steel Dynamics Correlations
| SD5 Stock | EUR 138.66 0.62 0.45% |
The current 90-days correlation between Steel Dynamics and DICKS Sporting Goods is -0.01 (i.e., Good diversification). The correlation of Steel Dynamics 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.
Steel Dynamics Correlation With Market
Modest diversification
The correlation between Steel Dynamics and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steel Dynamics and DJI in the same portfolio, assuming nothing else is changed.
Steel |
The ability to find closely correlated positions to Steel Dynamics could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Steel Dynamics 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 Steel Dynamics - 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 Steel Dynamics to buy it.
Moving together with Steel Stock
| 0.82 | NUO | Nucor | PairCorr |
| 0.84 | ARRD | ArcelorMittal SA | PairCorr |
| 0.86 | ARRJ | ArcelorMittal | PairCorr |
| 0.94 | RS6 | Reliance Steel Aluminum | PairCorr |
| 0.8 | 5F3 | JINS HOLDINGS INC | PairCorr |
| 0.83 | SON1 | Sony Group Corp | PairCorr |
| 0.61 | 92I | ROMERIKE SPAREBANK | PairCorr |
| 0.82 | BFP | BBVA Banco Frances | PairCorr |
| 0.9 | UN3 | United Natural Foods | PairCorr |
Moving against Steel Stock
| 0.88 | MIZ | Mizuno | PairCorr |
| 0.83 | 5FV | YAOKO LTD | PairCorr |
| 0.61 | PKX | POSCO Holdings | PairCorr |
| 0.6 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.55 | HCMA | HITACHI STRMACHADR2 | PairCorr |
| 0.52 | YHA | Yamaha Split | PairCorr |
| 0.51 | 893 | MITSUBISHI KAKOKI | PairCorr |
| 0.43 | NPSA | NIPPON STEEL SPADR | PairCorr |
Related Correlations Analysis
| 0.0 | -0.3 | -0.03 | -0.45 | -0.27 | -0.06 | DSG | ||
| 0.0 | 0.11 | -0.11 | 0.37 | 0.66 | 0.51 | ML2 | ||
| -0.3 | 0.11 | 0.35 | 0.7 | 0.53 | 0.5 | D2V | ||
| -0.03 | -0.11 | 0.35 | 0.33 | 0.32 | 0.35 | EZM | ||
| -0.45 | 0.37 | 0.7 | 0.33 | 0.74 | 0.61 | 8D9 | ||
| -0.27 | 0.66 | 0.53 | 0.32 | 0.74 | 0.85 | 06MA | ||
| -0.06 | 0.51 | 0.5 | 0.35 | 0.61 | 0.85 | GTR | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between Steel Stock performing well and Steel Dynamics 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 Steel Dynamics' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DSG | 1.70 | (0.24) | 0.00 | (0.10) | 0.00 | 4.00 | 9.02 | |||
| ML2 | 1.31 | 0.52 | 0.00 | (5.28) | 0.00 | 0.00 | 33.00 | |||
| D2V | 1.19 | 0.12 | (0.02) | (0.18) | 1.62 | 1.68 | 19.66 | |||
| EZM | 2.14 | (0.02) | 0.00 | 0.24 | 0.00 | 4.67 | 14.48 | |||
| 8D9 | 1.06 | 0.14 | 0.00 | (0.71) | 1.46 | 3.70 | 11.11 | |||
| 06MA | 2.62 | 0.41 | 0.24 | 0.36 | 1.55 | 7.27 | 21.88 | |||
| GTR | 2.17 | 0.01 | 0.06 | 0.13 | 2.40 | 6.38 | 12.74 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Steel Dynamics 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.Did you try this?
Run Technical Analysis Now
Technical AnalysisCheck basic technical indicators and analysis based on most latest market data |
| All Next | Launch Module |
Steel Dynamics Corporate Management
Elected by the shareholders, the Steel Dynamics' board of directors comprises two types of representatives: Steel Dynamics inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Steel. The board's role is to monitor Steel Dynamics' management team and ensure that shareholders' interests are well served. Steel Dynamics' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Steel Dynamics' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Glenn Pushis | VP Projects | Profile | |
| Richard Teets | CoFounder Director | Profile | |
| James Anderson | VP | Profile | |
| Theresa Wagler | CFO VP | Profile | |
| Barry Schneider | VP Group | Profile | |
| Mark Millett | CoFounder, Chairman | Profile | |
| Keith Busse | CoFounder Director | Profile |