Universal Stainless Correlations

USAP Stock

USD 44.34 0.07 0.16%

The current 90-days correlation between Universal Stainless Alloy and Olympic Steel is 0.29 (i.e., Modest diversification). The correlation of Universal Stainless 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Universal Stainless Correlation With Market

Very weak diversification

The correlation between Universal Stainless Alloy and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Universal Stainless Alloy and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Universal Stainless Alloy. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Universal Stock

0.8	X	United States Steel	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.74	RS	Reliance Steel Aluminum	Pair Corr
0.72	CMC	Commercial Metals	Pair Corr
0.64	KGC	Kinross Gold	Pair Corr
0.72	KALU	Kaiser Aluminum	Pair Corr
0.73	PAAS	Pan American Silver	Pair Corr
0.82	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.8	CENX	Century Aluminum	Pair Corr
0.68	AG	First Majestic Silver	Pair Corr
0.78	IE	Ivanhoe Electric	Pair Corr

Moving against Universal Stock

0.77	CSTM	Constellium Nv	Pair Corr
0.64	PKX	POSCO Holdings	Pair Corr
0.49	NEM	Newmont Goldcorp Corp	Pair Corr
0.46	CE	Celanese	Pair Corr
0.42	CX	Cemex SAB de	Pair Corr
0.44	NG	NovaGold Resources	Pair Corr
0.33	NB	NioCorp Developments	Pair Corr

Related Correlations Analysis

	ZEUS	SCHN	OUTKY	USNZY	TMST	PKX	RS	MT	TX	STLD
ZEUS		0.22	-0.19	0.09	0.24	-0.21	0.6	0.36	0.3	0.42	ZEUS
SCHN	0.22		-0.48	0.02	0.57	-0.43	0.42	0.23	0.17	0.52	SCHN
OUTKY	-0.19	-0.48		0.13	-0.81	0.9	-0.65	-0.11	0.32	-0.59	OUTKY
USNZY	0.09	0.02	0.13		-0.09	0.23	-0.04	0.29	0.42	0.11	USNZY
TMST	0.24	0.57	-0.81	-0.09		-0.8	0.84	0.54	0.09	0.87	TMST
PKX	-0.21	-0.43	0.9	0.23	-0.8		-0.66	-0.11	0.37	-0.6	PKX
RS	0.6	0.42	-0.65	-0.04	0.84	-0.66		0.67	0.31	0.93	RS
MT	0.36	0.23	-0.11	0.29	0.54	-0.11	0.67		0.79	0.77	MT
TX	0.3	0.17	0.32	0.42	0.09	0.37	0.31	0.79		0.46	TX
STLD	0.42	0.52	-0.59	0.11	0.87	-0.6	0.93	0.77	0.46		STLD
	ZEUS	SCHN	OUTKY	USNZY	TMST	PKX	RS	MT	TX	STLD

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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

STLD	+ 0.93	RS
PKX	+ 0.9	OUTKY
STLD	+ 0.87	TMST
RS	+ 0.84	TMST
TX	+ 0.79	MT
STLD	+ 0.77	MT

High negative correlations

TMST	- 0.81	OUTKY
PKX	- 0.8	TMST
RS	- 0.66	PKX
RS	- 0.65	OUTKY
STLD	- 0.6	PKX
STLD	- 0.59	OUTKY

Risk-Adjusted Indicators

There is a big difference between Universal Stock performing well and Universal Stainless 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 Universal Stainless' 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
ZEUS	2.11	(0.16)	0.00	0.05	2.48	(2.24)	4.04	(4.04)	14.90
SCHN	1.66	0.15	(0.01)	(0.26)	2.05	(1.68)	3.12	(3.33)	13.80
OUTKY	0.50	(0.17)	0.00	(0.53)	0.00	0.00	0.56	(1.76)	9.38
USNZY	3.35	(0.19)	0.00	(0.04)	0.00	0.00	7.21	(7.14)	25.24
TMST	1.64	0.44	0.14	(0.47)	1.46	(1.98)	4.81	(2.47)	13.11
PKX	1.96	(0.27)	0.00	(0.64)	0.00	0.00	4.63	(4.94)	10.53
RS	1.34	(0.02)	0.06	0.11	1.51	(1.49)	3.26	(2.16)	14.02
MT	1.50	0.06	0.02	0.19	1.91	(1.59)	3.83	(3.01)	9.08
TX	1.49	(0.10)	(0.05)	0.03	1.87	(1.41)	2.94	(2.97)	8.77
STLD	1.72	0.03	0.10	0.14	1.70	(2.04)	4.00	(2.79)	17.89

Universal Stainless Corporate Management

Christopher Zimmer	Chief Commercial Officer and Executive VP	Profile
John Arminas	General VP	Profile
Wendel Crosby	Vice Manufacturing	Profile
Jeffrey Daw	VP Devel	Profile

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