Constellium Correlations

CSTM Stock

USD 13.30 0.06 0.45%

The current 90-days correlation between Constellium Nv and Boyd Gaming is 0.66 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Constellium moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Constellium Nv moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Constellium Correlation With Market

Poor diversification

The correlation between Constellium Nv and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Constellium Nv 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 Constellium Nv. 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 Constellium Stock

0.65	AA	Alcoa Corp	Pair Corr
0.82	TX	Ternium SA ADR	Pair Corr
0.79	GGB	Gerdau SA ADR	Pair Corr
0.75	ZKIN	ZK International	Pair Corr
0.97	KALU	Kaiser Aluminum	Pair Corr
0.83	ASTL	Algoma Steel Group	Pair Corr
0.81	CTGO	Contango ORE	Pair Corr
0.7	X	United States Steel	Pair Corr
0.62	AG	First Majestic Silver	Pair Corr
0.67	AU	AngloGold Ashanti plc	Pair Corr
0.86	CE	Celanese	Pair Corr
0.93	CF	CF Industries Holdings	Pair Corr
0.93	CX	Cemex SAB de	Pair Corr
0.78	DC	Dakota Gold Corp	Pair Corr
0.62	DD	Dupont De Nemours	Pair Corr
0.86	EU	enCore Energy Corp	Pair Corr
0.85	IE	Ivanhoe Electric Downward Rally	Pair Corr
0.86	MT	ArcelorMittal SA ADR	Pair Corr
0.77	OR	Osisko Gold Ro	Pair Corr
0.95	RS	Reliance Steel Aluminum	Pair Corr
0.69	SA	Seabridge Gold	Pair Corr

Moving against Constellium Stock

0.48	GURE	Gulf Resources	Pair Corr
0.41	HMY	Harmony Gold Mining	Pair Corr
0.67	HYMCL	Hycroft Mining Holding	Pair Corr

Related Correlations Analysis

	BYD	MNST	PLAY	BDN	WVVIP	MLCO	PRMB
BYD		0.89	0.79	0.71	-0.82	0.96	-0.75	BYD
MNST	0.89		0.69	0.7	-0.82	0.86	-0.66	MNST
PLAY	0.79	0.69		0.64	-0.73	0.79	-0.86	PLAY
BDN	0.71	0.7	0.64		-0.59	0.71	-0.5	BDN
WVVIP	-0.82	-0.82	-0.73	-0.59		-0.81	0.79	WVVIP
MLCO	0.96	0.86	0.79	0.71	-0.81		-0.73	MLCO
PRMB	-0.75	-0.66	-0.86	-0.5	0.79	-0.73		PRMB
	BYD	MNST	PLAY	BDN	WVVIP	MLCO	PRMB

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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

MLCO	+ 0.96	BYD
MNST	+ 0.89	BYD
MLCO	+ 0.86	MNST
PLAY	+ 0.79	BYD
MLCO	+ 0.79	PLAY
PRMB	+ 0.79	WVVIP

High negative correlations

PRMB	- 0.86	PLAY
WVVIP	- 0.82	MNST
WVVIP	- 0.82	BYD
MLCO	- 0.81	WVVIP
PRMB	- 0.75	BYD
PRMB	- 0.73	MLCO

Risk-Adjusted Indicators

There is a big difference between Constellium Stock performing well and Constellium 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 Constellium'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
BYD	1.39	0.15	0.09	0.20	1.62	(1.56)	3.22	(2.50)	15.91
MNST	0.99	0.09	0.04	0.21	1.30	(0.98)	1.76	(1.84)	8.04
PLAY	3.27	0.67	0.19	0.69	2.88	(3.64)	9.24	(5.61)	22.33
BDN	1.60	(0.07)	0.00	(0.03)	0.00	0.00	3.28	(3.49)	10.69
WVVIP	1.78	(0.22)	0.00	(6.00)	0.00	0.00	3.47	(4.03)	12.04
MLCO	2.18	0.41	0.15	0.37	2.32	(2.65)	5.07	(4.05)	15.52
PRMB	1.43	(0.22)	0.00	(0.49)	0.00	0.00	2.48	(2.76)	9.49

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