3M Correlations

MMM Stock

USD 132.31 1.02 0.77%

The current 90-days correlation between 3M Company and Brookfield Business Partners is 0.4 (i.e., Very weak 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

Poor diversification

The correlation between 3M Company and DJI is 0.6 (i.e., 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.

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

0.72

PLOW

Douglas Dynamics

Pair Corr

Moving against 3M Stock

0.49	MPU	Mega Matrix Corp	Pair Corr
0.35	GBX	Greenbrier Companies	Pair Corr
0.42	AZ	A2Z Smart Technologies	Pair Corr

Related Correlations Analysis

	MDU	VMI	GFF	CODI	BBU	MATW	SPLP
MDU		0.92	0.87	0.91	0.85	0.76	0.41	MDU
VMI	0.92		0.67	0.82	0.79	0.6	0.22	VMI
GFF	0.87	0.67		0.88	0.79	0.8	0.55	GFF
CODI	0.91	0.82	0.88		0.85	0.75	0.42	CODI
BBU	0.85	0.79	0.79	0.85		0.52	0.39	BBU
MATW	0.76	0.6	0.8	0.75	0.52		0.53	MATW
SPLP	0.41	0.22	0.55	0.42	0.39	0.53		SPLP
	MDU	VMI	GFF	CODI	BBU	MATW	SPLP

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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	1.61	0.39	0.22	0.46	1.29	(1.96)	3.97	(2.69)	12.63
VMI	1.21	0.24	0.20	0.36	0.82	(1.35)	2.65	(1.79)	12.58
GFF	1.71	0.19	0.14	0.25	1.54	(1.99)	3.14	(3.02)	22.84
CODI	1.19	0.03	0.04	0.16	1.15	(1.26)	2.52	(1.79)	9.24
BBU	1.55	0.26	0.14	0.38	1.42	(1.68)	3.19	(2.48)	8.49
MATW	1.87	0.14	0.13	0.19	1.81	(2.27)	4.21	(3.74)	24.83
SPLP	1.82	0.10	0.02	0.26	2.37	(2.49)	4.41	(3.70)	21.61

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