Worthington Steel Correlations

WS Stock

45.14 1.19 2.71%

The current 90-days correlation between Worthington Steel and SkyWest is 0.46 (i.e., Very weak diversification). The correlation of Worthington Steel 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.

Worthington Steel Correlation With Market

Poor diversification

The correlation between Worthington Steel and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Worthington Steel and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Worthington Steel. 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.

For more information on how to buy Worthington Stock please use our How to Invest in Worthington Steel guide.

Moving together with Worthington Stock

0.69	X	United States Steel	Pair Corr
0.73	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.92	RS	Reliance Steel Aluminum	Pair Corr
0.92	CMC	Commercial Metals	Pair Corr
0.93	KALU	Kaiser Aluminum	Pair Corr
0.85	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.91	CENX	Century Aluminum	Pair Corr
0.76	USAP	Universal Stainless Alloy	Pair Corr
0.65	IE	Ivanhoe Electric	Pair Corr

Moving against Worthington Stock

0.53	AU	AngloGold Ashanti plc	Pair Corr
0.85	CE	Celanese	Pair Corr
0.81	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.76	PKX	POSCO Holdings	Pair Corr
0.76	CSTM	Constellium Nv	Pair Corr
0.5	CX	Cemex SAB de	Pair Corr
0.34	OLN	Olin Fiscal Year End 23rd of January 2025	Pair Corr
0.7	NB	NioCorp Developments	Pair Corr
0.51	NG	NovaGold Resources	Pair Corr
0.46	SA	Seabridge Gold	Pair Corr
0.41	FF	FutureFuel Corp	Pair Corr
0.37	HL	Hecla Mining	Pair Corr
0.35	VALE	Vale SA ADR Aggressive Push	Pair Corr

Related Correlations Analysis

	ECG	SKYW	WMG	MESA	TME	PRIM	PKOH
ECG		-0.51	-0.46	0.59	-0.05	-0.42	-0.15	ECG
SKYW	-0.51		0.88	-0.87	0.33	0.96	0.74	SKYW
WMG	-0.46	0.88		-0.78	0.51	0.81	0.59	WMG
MESA	0.59	-0.87	-0.78		-0.2	-0.77	-0.48	MESA
TME	-0.05	0.33	0.51	-0.2		0.24	0.22	TME
PRIM	-0.42	0.96	0.81	-0.77	0.24		0.83	PRIM
PKOH	-0.15	0.74	0.59	-0.48	0.22	0.83		PKOH
	ECG	SKYW	WMG	MESA	TME	PRIM	PKOH

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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

PRIM	+ 0.96	SKYW
WMG	+ 0.88	SKYW
PKOH	+ 0.83	PRIM
PRIM	+ 0.81	WMG
PKOH	+ 0.74	SKYW
MESA	+ 0.59	ECG

High negative correlations

MESA	- 0.87	SKYW
MESA	- 0.78	WMG
PRIM	- 0.77	MESA
SKYW	- 0.51	ECG
PKOH	- 0.48	MESA
WMG	- 0.46	ECG

Risk-Adjusted Indicators

There is a big difference between Worthington Stock performing well and Worthington Steel 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 Worthington Steel'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
ECG	3.41	1.44	0.39	2.34	2.54	(4.32)	6.99	(4.19)	18.13
SKYW	1.40	0.41	0.38	0.34	0.80	(1.75)	3.80	(1.66)	9.51
WMG	0.89	0.13	0.02	0.66	1.66	(0.92)	2.15	(2.03)	11.14
MESA	2.58	(0.48)	0.00	(1.06)	0.00	0.00	4.60	(6.38)	28.65
TME	2.39	0.12	0.04	0.27	2.38	(2.94)	5.81	(4.93)	21.86
PRIM	1.84	0.46	0.27	0.35	1.71	(2.33)	4.15	(1.78)	17.09
PKOH	1.66	(0.09)	0.05	0.09	1.88	(1.79)	2.93	(3.59)	19.17

Worthington Steel Corporate Management

Bill Wertz	VP Officer	Profile
Michaune Tillman	VP Counsel	Profile
Nikki Ballinger	Vice Resources	Profile
Clifford Larivey	Senior Purchasing	Profile

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