Nucor Correlations

N1UE34 Stock

BRL 65.45 1.67 2.62%

The current 90-days correlation between Nucor and Paycom Software is -0.03 (i.e., Good diversification). The correlation of Nucor 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.

Nucor Correlation With Market

Average diversification

The correlation between Nucor and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nucor and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Nucor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nucor when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nucor - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nucor to buy it.

Moving together with Nucor Stock

0.64	ARMT34	ArcelorMittal SA	Pair Corr
0.62	GOAU3	Metalurgica Gerdau	Pair Corr
0.72	HCST11	Hectare Student Housing	Pair Corr
0.61	MSFT34	Microsoft	Pair Corr
0.71	R1OP34	Roper Technologies, Earnings Call This Week	Pair Corr

Moving against Nucor Stock

0.84	SEQL3	Sequoia Logstica e	Pair Corr
0.8	WEST3	Westwing Comrcio Var	Pair Corr
0.78	USIM3	Usinas Siderrgicas Earnings Call This Week	Pair Corr
0.72	LJQQ3	Lojas Quero Quero	Pair Corr
0.58	FESA4	Cia de Ferro	Pair Corr
0.57	CSNA3	Companhia Siderrgica	Pair Corr
0.45	FESA3	Cia de Ferro	Pair Corr

Related Correlations Analysis

	P1YC34	T1AL34	A1TH34	HOME34	D1XC34	FRIO3	CTSH34
P1YC34		0.4	-0.67	0.13	0.48	0.36	0.52	P1YC34
T1AL34	0.4		-0.42	0.05	0.12	-0.02	0.43	T1AL34
A1TH34	-0.67	-0.42		-0.11	-0.32	-0.02	-0.84	A1TH34
HOME34	0.13	0.05	-0.11		0.47	0.22	0.35	HOME34
D1XC34	0.48	0.12	-0.32	0.47		0.6	0.53	D1XC34
FRIO3	0.36	-0.02	-0.02	0.22	0.6		0.01	FRIO3
CTSH34	0.52	0.43	-0.84	0.35	0.53	0.01		CTSH34
	P1YC34	T1AL34	A1TH34	HOME34	D1XC34	FRIO3	CTSH34

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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

FRIO3	+ 0.6	D1XC34
CTSH34	+ 0.53	D1XC34
CTSH34	+ 0.52	P1YC34
D1XC34	+ 0.48	P1YC34
D1XC34	+ 0.47	HOME34
CTSH34	+ 0.43	T1AL34

High negative correlations

CTSH34	- 0.84	A1TH34
A1TH34	- 0.67	P1YC34
A1TH34	- 0.42	T1AL34
D1XC34	- 0.32	A1TH34
HOME34	- 0.11	A1TH34
FRIO3	- 0.02	A1TH34

Risk-Adjusted Indicators

There is a big difference between Nucor Stock performing well and Nucor 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 Nucor'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
P1YC34	0.91	0.05	(0.03)	(0.39)	1.35	(2.36)	1.82	(3.56)	22.07
T1AL34	2.28	0.13	0.00	3.25	5.31	(2.12)	4.04	(4.88)	31.48
A1TH34	0.72	(0.01)	(0.05)	0.02	1.19	(1.51)	2.03	(2.12)	6.58
HOME34	1.30	(0.14)	0.00	(0.05)	0.00	0.00	2.87	(2.67)	9.36
D1XC34	0.49	(0.04)	0.00	(0.06)	0.00	0.00	0.75	(1.15)	14.33
FRIO3	1.00	(0.53)	0.00	(22.52)	0.00	0.00	0.01	(3.77)	12.21
CTSH34	0.46	0.04	(0.03)	0.78	0.84	(1.73)	0.46	(1.06)	14.60

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nucor without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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