Algoma Steel Correlations

ASTL Stock

USD 7.02 0.12 1.74%

The current 90-days correlation between Algoma Steel Group and Algoma Steel Group is 0.19 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Algoma Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Steel Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Algoma Steel Correlation With Market

Modest diversification

The correlation between Algoma Steel Group and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Algoma Steel Group and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Algoma Stock

0.82	AA	Alcoa Corp	Pair Corr
0.75	AG	First Majestic Silver	Pair Corr
0.83	CE	Celanese	Pair Corr
0.81	DC	Dakota Gold Corp	Pair Corr
0.84	IE	Ivanhoe Electric	Pair Corr
0.8	MT	ArcelorMittal SA ADR	Pair Corr
0.64	OR	Osisko Gold Ro	Pair Corr
0.89	RS	Reliance Steel Aluminum Earnings Call This Week	Pair Corr
0.79	SA	Seabridge Gold	Pair Corr
0.91	TX	Ternium SA ADR	Pair Corr
0.74	WS	Worthington Steel	Pair Corr
0.75	CDE	Coeur Mining	Pair Corr
0.87	CMC	Commercial Metals	Pair Corr
0.73	DVS	Dolly Varden Silver	Pair Corr
0.77	ERO	Ero Copper Corp	Pair Corr
0.77	EXK	Endeavour Silver Corp	Pair Corr
0.89	FCX	Freeport McMoran Copper Earnings Call This Week	Pair Corr
0.77	GGB	Gerdau SA ADR	Pair Corr
0.86	HBM	Hudbay Minerals	Pair Corr

Moving against Algoma Stock

0.59	HYMCL	Hycroft Mining Holding	Pair Corr
0.49	BAK	Braskem SA Class	Pair Corr
0.45	AGI	Alamos Gold	Pair Corr
0.41	WLKP	Westlake Chemical	Pair Corr
0.86	DRD	DRDGOLD Limited ADR	Pair Corr
0.79	HMY	Harmony Gold Mining	Pair Corr
0.78	EQX	Equinox Gold Corp	Pair Corr
0.69	MSB	Mesabi Trust	Pair Corr
0.62	FNV	Franco Nevada	Pair Corr
0.61	HUN	Huntsman	Pair Corr
0.42	HLP	Hongli Group Ordinary	Pair Corr

Related Correlations Analysis

	ASTLW	ACNT	ZEUS	ASTL	AMBP	ASLE	HLMN
ASTLW		-0.38	0.24	0.8	0.73	-0.64	-0.24	ASTLW
ACNT	-0.38		0.23	-0.15	0.0	0.24	-0.07	ACNT
ZEUS	0.24	0.23		0.58	0.61	-0.07	0.33	ZEUS
ASTL	0.8	-0.15	0.58		0.84	-0.58	-0.14	ASTL
AMBP	0.73	0.0	0.61	0.84		-0.65	-0.08	AMBP
ASLE	-0.64	0.24	-0.07	-0.58	-0.65		0.07	ASLE
HLMN	-0.24	-0.07	0.33	-0.14	-0.08	0.07		HLMN
	ASTLW	ACNT	ZEUS	ASTL	AMBP	ASLE	HLMN

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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

AMBP	+ 0.84	ASTL
ASTL	+ 0.8	ASTLW
AMBP	+ 0.73	ASTLW
AMBP	+ 0.61	ZEUS
ASTL	+ 0.58	ZEUS
HLMN	+ 0.33	ZEUS

High negative correlations

ASLE	- 0.65	AMBP
ASLE	- 0.64	ASTLW
ASLE	- 0.58	ASTL
ACNT	- 0.38	ASTLW
HLMN	- 0.24	ASTLW
ASTL	- 0.15	ACNT

Risk-Adjusted Indicators

There is a big difference between Algoma Stock performing well and Algoma 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 Algoma 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
ASTLW	8.38	1.96	0.14	(1.84)	9.53	(11.37)	22.73	(13.73)	83.33
ACNT	1.09	(0.03)	(0.06)	0.05	1.83	(1.06)	2.54	(2.10)	8.85
ZEUS	1.78	(0.04)	0.02	0.11	2.16	(1.85)	3.98	(3.40)	14.85
ASTL	2.66	0.71	0.22	(3.84)	2.04	(3.20)	6.64	(3.27)	17.49
AMBP	1.85	0.70	0.44	0.67	0.85	(2.35)	3.85	(2.37)	34.41
ASLE	1.72	(0.47)	0.00	(0.31)	0.00	0.00	2.89	(3.98)	15.55
HLMN	2.20	(0.21)	(0.03)	0.03	2.84	(2.26)	5.04	(4.98)	14.37

Algoma Steel Corporate Management

Michael Garcia	CEO Director	Profile
Rory Brandow	Vice Sales	Profile
Mike Panzeri	Senior Production	Profile
Loris Molino	VP Services	Profile
Piper Frech	Interim Officer	Profile
Brenda Stenta	Manager Branding	Profile
Michael Panzeri	Senior Production	Profile

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