3M Correlations

MMM Stock

USD 142.08 4.18 3.03%

The current 90-days correlation between 3M Company and Brookfield Business Partners is 0.72 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 3M moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 3M Company moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

3M Correlation With Market

Very poor diversification

The correlation between 3M Company and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 3M Company and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with 3M Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in 3M Company. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with 3M Stock

0.83	WPRT	Westport Fuel Systems Earnings Call Tomorrow	Pair Corr
0.65	GFF	Griffon Earnings Call Tomorrow	Pair Corr
0.75	SOL	Emeren Group	Pair Corr
0.67	WAB	Westinghouse Air Brake	Pair Corr
0.75	ALSN	Allison Transmission	Pair Corr
0.75	CVGI	Commercial Vehicle Earnings Call Today	Pair Corr
0.61	G	Genpact Limited Earnings Call This Week	Pair Corr
0.71	J	Jacobs Solutions	Pair Corr
0.64	R	Ryder System Earnings Call Tomorrow	Pair Corr
0.69	AL	Air Lease Earnings Call Today	Pair Corr
0.87	BE	Bloom Energy Corp Earnings Call This Week	Pair Corr
0.8	BW	Babcock Wilcox Enter Earnings Call This Week	Pair Corr
0.74	CR	Crane Company	Pair Corr
0.73	DE	Deere Company	Pair Corr
0.68	EH	Ehang Holdings Buyout Trend	Pair Corr
0.82	FC	Franklin Covey	Pair Corr
0.83	GE	GE Aerospace	Pair Corr
0.65	GP	GreenPower Motor	Pair Corr
0.74	HI	Hillenbrand	Pair Corr
0.77	HY	Hyster Yale Materials Earnings Call Today	Pair Corr
0.83	IR	Ingersoll Rand	Pair Corr
0.65	KC	Kingsoft Cloud Holdings Trending	Pair Corr

Moving against 3M Stock

0.43	MVST	Microvast Holdings Buyout Trend	Pair Corr
0.32	AZ	A2Z Smart Technologies	Pair Corr
0.39	PC	Premium Catering	Pair Corr
0.38	GD	General Dynamics	Pair Corr

Related Correlations Analysis

	MDU	VMI	GFF	CODI	BBU	MATW	VRTV	SPLP
MDU		0.29	0.33	0.37	0.16	0.41	0.0	0.02	MDU
VMI	0.29		0.55	0.89	0.7	0.76	0.0	0.59	VMI
GFF	0.33	0.55		0.72	0.47	0.8	0.0	0.54	GFF
CODI	0.37	0.89	0.72		0.72	0.91	0.0	0.76	CODI
BBU	0.16	0.7	0.47	0.72		0.49	0.0	0.72	BBU
MATW	0.41	0.76	0.8	0.91	0.49		0.0	0.64	MATW
VRTV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	VRTV
SPLP	0.02	0.59	0.54	0.76	0.72	0.64	0.0		SPLP
	MDU	VMI	GFF	CODI	BBU	MATW	VRTV	SPLP

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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

MATW	+ 0.91	CODI
CODI	+ 0.89	VMI
MATW	+ 0.8	GFF
MATW	+ 0.76	VMI
SPLP	+ 0.76	CODI
CODI	+ 0.72	GFF

High negative correlations

SPLP	- 0.0	VRTV
VRTV	- 0.0	MATW
VRTV	- 0.0	BBU
VRTV	- 0.0	CODI
VRTV	- 0.0	GFF
VRTV	- 0.0	VMI

Risk-Adjusted Indicators

There is a big difference between 3M Stock performing well and 3M 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 3M'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
MDU	1.23	0.10	0.08	0.02	1.68	(1.33)	2.39	(2.21)	8.19
VMI	2.11	0.08	0.00	(0.05)	0.00	0.00	3.34	(3.87)	30.10
GFF	1.89	0.06	0.00	(0.07)	0.00	0.00	2.94	(3.62)	15.97
CODI	1.81	(0.09)	0.00	(0.19)	0.00	0.00	3.70	(3.82)	15.25
BBU	2.25	0.26	0.06	0.06	3.08	(2.35)	4.22	(4.83)	16.88
MATW	2.28	(0.36)	0.00	(0.46)	0.00	0.00	3.04	(4.80)	20.09
VRTV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SPLP	1.98	(0.02)	0.00	(0.15)	0.00	0.00	5.70	(4.47)	22.69

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