Alcoa Corp Correlations
AA Stock | USD 32.10 0.37 1.14% |
The current 90-days correlation between Alcoa Corp and Constellium Nv is 0.46 (i.e., Very weak diversification). The correlation of Alcoa Corp 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.
Alcoa Corp Correlation With Market
Very weak diversification
The correlation between Alcoa Corp and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alcoa Corp and DJI in the same portfolio, assuming nothing else is changed.
Alcoa |
Moving together with Alcoa Stock
0.81 | AG | First Majestic Silver | PairCorr |
0.69 | CE | Celanese | PairCorr |
0.85 | DC | Dakota Gold Corp | PairCorr |
0.73 | IE | Ivanhoe Electric | PairCorr |
0.79 | MT | ArcelorMittal SA ADR | PairCorr |
0.89 | TX | Ternium SA ADR | PairCorr |
0.83 | BAK | Braskem SA Class | PairCorr |
0.78 | CLF | Cleveland Cliffs | PairCorr |
0.66 | ERO | Ero Copper Corp | PairCorr |
0.96 | FCX | Freeport McMoran Copper Fiscal Year End 22nd of January 2025 | PairCorr |
0.81 | FSM | Fortuna Silver Mines | PairCorr |
0.97 | HBM | Hudbay Minerals Buyout Trend | PairCorr |
Moving against Alcoa Stock
0.67 | NG | NovaGold Resources | PairCorr |
0.63 | AU | AngloGold Ashanti plc | PairCorr |
0.59 | X | United States Steel | PairCorr |
0.57 | HYMCL | Hycroft Mining Holding | PairCorr |
0.51 | SA | Seabridge Gold | PairCorr |
0.5 | WS | Worthington Steel | PairCorr |
0.42 | OR | Osisko Gold Ro | PairCorr |
0.33 | WLKP | Westlake Chemical | PairCorr |
0.71 | AEM | Agnico Eagle Mines Sell-off Trend | PairCorr |
0.52 | AGI | Alamos Gold | PairCorr |
0.5 | EGO | Eldorado Gold Corp Sell-off Trend | PairCorr |
0.4 | DRD | DRDGOLD Limited ADR | PairCorr |
0.75 | NEM | Newmont Goldcorp Corp Aggressive Push | PairCorr |
0.56 | KGC | Kinross Gold | PairCorr |
0.44 | IAG | IAMGold | PairCorr |
0.43 | IDR | Idaho Strategic Resources | PairCorr |
0.42 | NGD | New Gold | PairCorr |
0.32 | HMY | Harmony Gold Mining Earnings Call This Week | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Alcoa Stock performing well and Alcoa Corp 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 Alcoa Corp'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
CSTM | 1.66 | (0.50) | 0.00 | (0.29) | 0.00 | 3.00 | 9.71 | |||
CENX | 3.47 | (0.58) | 0.00 | (0.14) | 0.00 | 6.75 | 23.17 | |||
CHHQF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
NHYDY | 2.07 | 0.41 | 0.13 | (2.75) | 1.80 | 4.47 | 13.43 | |||
KALU | 2.05 | (0.53) | 0.00 | (0.24) | 0.00 | 3.29 | 19.34 | |||
ACHHY | 3.81 | 1.01 | 0.22 | (22.57) | 3.38 | 13.15 | 22.55 | |||
AWCMY | 2.11 | (0.07) | 0.00 | 0.18 | 0.00 | 4.26 | 11.08 | |||
NHYKF | 2.81 | (0.10) | 0.00 | 0.42 | 0.00 | 5.68 | 17.15 |