STEEL DYNAMICS Correlations

SD5 Stock

116.80 1.68 1.46%

The current 90-days correlation between STEEL DYNAMICS and China BlueChemical is 0.02 (i.e., Significant diversification). The correlation of STEEL DYNAMICS 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.

STEEL DYNAMICS Correlation With Market

Good diversification

The correlation between STEEL DYNAMICS and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding STEEL DYNAMICS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to STEEL DYNAMICS could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace STEEL DYNAMICS 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 STEEL DYNAMICS - 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 STEEL DYNAMICS to buy it.

Moving together with STEEL Stock

0.61	MTO	METTLER TOLEDO INTL	Pair Corr
0.62	MTO	METTLER TOLEDO INTL	Pair Corr
0.61	MTO	Mitie Group PLC	Pair Corr
0.8	27J	Impinj Inc	Pair Corr
0.79	27J	Impinj Inc	Pair Corr
0.68	E908	Lyxor 1	Pair Corr
0.72	DBPE	Xtrackers LevDAX	Pair Corr

Moving against STEEL Stock

0.72

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	KGZ	WI8	SMM	WX7	H1Q	ODP	XSI	SEH
KGZ		0.24	0.01	0.45	0.75	0.0	-0.4	0.29	KGZ
WI8	0.24		0.16	0.67	0.22	0.0	0.14	0.42	WI8
SMM	0.01	0.16		0.0	0.05	0.0	0.52	0.52	SMM
WX7	0.45	0.67	0.0		0.37	0.0	0.1	0.3	WX7
H1Q	0.75	0.22	0.05	0.37		0.0	-0.18	0.38	H1Q
ODP	0.0	0.0	0.0	0.0	0.0		0.0	0.0	ODP
XSI	-0.4	0.14	0.52	0.1	-0.18	0.0		0.41	XSI
SEH	0.29	0.42	0.52	0.3	0.38	0.0	0.41		SEH
	KGZ	WI8	SMM	WX7	H1Q	ODP	XSI	SEH

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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

H1Q	+ 0.75	KGZ
WX7	+ 0.67	WI8
XSI	+ 0.52	SMM
SEH	+ 0.52	SMM
WX7	+ 0.45	KGZ
SEH	+ 0.42	WI8

High negative correlations

XSI	- 0.4	KGZ
XSI	- 0.18	H1Q
SEH	- 0.0	ODP
XSI	- 0.0	ODP
ODP	- 0.0	H1Q
ODP	- 0.0	WX7

Risk-Adjusted Indicators

There is a big difference between STEEL Stock performing well and STEEL DYNAMICS 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 STEEL DYNAMICS'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
KGZ	1.94	0.60	0.20	11.85	1.21	(3.06)	4.76	(2.84)	24.31
WI8	0.98	0.21	0.01	1.77	0.85	(1.13)	2.67	(1.60)	7.38
SMM	1.48	0.15	(0.04)	24.10	1.57	(2.03)	3.85	(3.43)	13.36
WX7	1.08	0.20	(0.06)	(0.35)	1.19	(1.61)	2.53	(1.74)	8.75
H1Q	3.55	0.38	0.03	3.66	3.67	(6.01)	9.52	(5.00)	20.63
ODP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XSI	0.77	0.05	(0.15)	(0.25)	0.88	(1.25)	1.77	(1.74)	7.43
SEH	1.98	0.14	(0.01)	0.75	2.12	(2.22)	4.34	(3.67)	13.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in STEEL DYNAMICS 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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