Commercial Metals Correlations

CMC Stock

USD 63.56 0.52 0.81%

The current 90-days correlation between Commercial Metals and Cleanaway Waste Management is -0.04 (i.e., Good diversification). The correlation of Commercial Metals 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.

Commercial Metals Correlation With Market

Very weak diversification

The correlation between Commercial Metals and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Commercial Metals and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Commercial Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Commercial Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

For information on how to trade Commercial Stock refer to our How to Trade Commercial Stock guide.

Moving together with Commercial Stock

0.71	AA	Alcoa Corp	Pair Corr
0.65	NUE	Nucor Corp	Pair Corr

Moving against Commercial Stock

0.34	AML	Argus Metals Corp	Pair Corr
0.41	FAL	Falcon Metals	Pair Corr
0.37	WGLD	Western Gold Exploration Split	Pair Corr
0.35	RAGE	Renegade Gold Split	Pair Corr
0.31	SXC	SunCoke Energy	Pair Corr
0.31	TLM	Talisman Mining	Pair Corr

Related Correlations Analysis

	BDN	UCTT	BCTCF	MJWNY	TSPCF	CPK	CUTLF	KGDEF
BDN		0.15	0.74	0.83	0.5	-0.61	-0.67	0.41	BDN
UCTT	0.15		-0.19	-0.15	0.34	0.12	-0.57	0.39	UCTT
BCTCF	0.74	-0.19		0.61	-0.01	-0.72	-0.29	0.18	BCTCF
MJWNY	0.83	-0.15	0.61		0.51	-0.55	-0.47	0.19	MJWNY
TSPCF	0.5	0.34	-0.01	0.51		0.04	-0.58	0.33	TSPCF
CPK	-0.61	0.12	-0.72	-0.55	0.04		0.48	-0.42	CPK
CUTLF	-0.67	-0.57	-0.29	-0.47	-0.58	0.48		-0.61	CUTLF
KGDEF	0.41	0.39	0.18	0.19	0.33	-0.42	-0.61		KGDEF
	BDN	UCTT	BCTCF	MJWNY	TSPCF	CPK	CUTLF	KGDEF

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

MJWNY	+ 0.83	BDN
BCTCF	+ 0.74	BDN
MJWNY	+ 0.61	BCTCF
TSPCF	+ 0.51	MJWNY
TSPCF	+ 0.5	BDN
CUTLF	+ 0.48	CPK

High negative correlations

CPK	- 0.72	BCTCF
CUTLF	- 0.67	BDN
KGDEF	- 0.61	CUTLF
CPK	- 0.61	BDN
CUTLF	- 0.58	TSPCF
CUTLF	- 0.57	UCTT

Risk-Adjusted Indicators

There is a big difference between Commercial Stock performing well and Commercial Metals 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 Commercial Metals' 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
BDN	1.50	(0.31)	0.00	(2.96)	0.00	0.00	2.80	(3.47)	8.78
UCTT	2.81	0.00	0.03	0.05	3.47	(2.98)	7.74	(6.23)	17.59
BCTCF	0.18	(0.06)	0.00	0.44	0.00	0.00	0.00	0.00	6.10
MJWNY	0.72	(0.19)	0.00	(3.12)	0.00	0.00	1.79	0.00	15.22
TSPCF	2.03	0.08	0.00	(0.37)	2.96	(4.87)	6.94	(8.85)	23.54
CPK	0.86	0.16	0.10	11.15	0.88	(0.95)	1.78	(1.70)	5.53
CUTLF	0.04	0.02	0.00	(0.29)	0.00	0.00	0.00	0.00	1.50
KGDEF	0.25	(0.15)	0.00	(0.56)	0.00	0.00	0.00	0.00	8.25

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC