Olympic Steel Correlations

ZEUS Stock

USD 40.76 0.27 0.67%

The current 90-days correlation between Olympic Steel and SCHNITZER STEEL INDUSTRIES is 0.18 (i.e., Average diversification). The correlation of Olympic 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.

Olympic Steel Correlation With Market

Poor diversification

The correlation between Olympic Steel and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Olympic 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 Olympic 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 employment.

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

Moving against Olympic Stock

0.4	FNV	Franco Nevada	Pair Corr
0.34	SAND	Sandstorm Gold	Pair Corr

Related Correlations Analysis

	SCHN	USAP	OUTKY	USNZY	TMST	PKX	STLD	CMC	NUE	RS
SCHN		0.54	-0.33	0.12	0.57	-0.4	0.56	0.42	0.38	0.48	SCHN
USAP	0.54		-0.7	0.18	0.78	-0.62	0.81	0.71	0.42	0.74	USAP
OUTKY	-0.33	-0.7		-0.01	-0.72	0.87	-0.5	-0.56	-0.01	-0.55	OUTKY
USNZY	0.12	0.18	-0.01		0.03	0.11	0.18	0.11	0.26	0.04	USNZY
TMST	0.57	0.78	-0.72	0.03		-0.76	0.87	0.78	0.32	0.83	TMST
PKX	-0.4	-0.62	0.87	0.11	-0.76		-0.55	-0.6	-0.05	-0.62	PKX
STLD	0.56	0.81	-0.5	0.18	0.87	-0.55		0.88	0.68	0.92	STLD
CMC	0.42	0.71	-0.56	0.11	0.78	-0.6	0.88		0.68	0.96	CMC
NUE	0.38	0.42	-0.01	0.26	0.32	-0.05	0.68	0.68		0.68	NUE
RS	0.48	0.74	-0.55	0.04	0.83	-0.62	0.92	0.96	0.68		RS
	SCHN	USAP	OUTKY	USNZY	TMST	PKX	STLD	CMC	NUE	RS

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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

RS	+ 0.96	CMC
RS	+ 0.92	STLD
CMC	+ 0.88	STLD
PKX	+ 0.87	OUTKY
STLD	+ 0.87	TMST
RS	+ 0.83	TMST

High negative correlations

PKX	- 0.76	TMST
TMST	- 0.72	OUTKY
OUTKY	- 0.7	USAP
RS	- 0.62	PKX
PKX	- 0.62	USAP
CMC	- 0.6	PKX

Risk-Adjusted Indicators

There is a big difference between Olympic Stock performing well and Olympic 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 Olympic 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
SCHN	1.66	0.09	0.01	0.51	2.05	(1.68)	3.12	(3.33)	13.80
USAP	1.75	0.05	0.04	0.12	2.32	(1.87)	5.18	(4.35)	15.05
OUTKY	0.48	(0.09)	0.00	1.17	0.00	0.00	1.12	(1.76)	9.38
USNZY	3.53	0.07	0.00	0.03	0.00	0.00	7.44	(7.14)	25.24
TMST	1.64	0.37	0.16	(1.90)	1.46	(1.98)	4.81	(2.47)	13.11
PKX	1.98	(0.21)	0.00	(0.83)	0.00	0.00	4.63	(4.94)	10.53
STLD	1.74	0.15	0.15	0.15	1.67	(2.11)	4.00	(2.79)	17.89
CMC	1.59	(0.04)	0.06	0.07	1.67	(1.89)	4.50	(2.80)	16.53
NUE	1.70	(0.15)	0.00	0.03	2.15	(1.80)	2.50	(3.82)	19.91
RS	1.35	0.01	0.06	0.09	1.51	(1.51)	3.26	(2.15)	14.02

Olympic Steel Corporate Management

Lisa Christen	Treasurer Controller	Profile
Ken Sloan	VP HR	Profile
Michelle SPHR	Vice Marketing	Profile
Richard CPA	Chief Officer	Profile
Francis Ruane	Executive Chain	Profile

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