Which stocks are most correlated with ASTL?

Based on one year of daily returns, the stocks most correlated with Algoma Steel Group Inc. Common Shares (ASTL) are AKAF (0.47), RSPA (0.47) and NXTI (0.46). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.

Which stocks are inversely correlated with ASTL?

Over the past year, the stocks most inversely correlated with Algoma Steel Group Inc. Common Shares (ASTL) are TZA (-0.43), RWM (-0.43) and TWM (-0.43). A negative correlation means the two stocks have tended to move in opposite directions.

Algoma Steel Group Inc. Common Shares (ASTL) — Stock Correlations & Overview

Over the past year, ASTL has moved most closely with AKAF, RSPA, NXTI. Explore the stocks most correlated and inversely correlated with ASTL below, along with its price, financials, and company profile.

Stocks correlated with ASTL

Correlation of daily returns. Higher positive values move with ASTL; negative values move opposite it. Informational only, not investment advice.

Most correlated with ASTL

Symbol	Company	Correlation
AKAF	The Frontier Economic Fund	0.47
RSPA	Invesco S&P 500 Equal Weight Income Advantage ETF	0.47
NXTI	Simplify Next Intangible Core Index ETF	0.46
FMDE	Fidelity Enhanced Mid Cap Core ETF	0.46
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	0.46

Most inversely correlated with ASTL

Symbol	Company	Correlation
TZA	Direxion Daily Small Cap Bear 3x ETF	-0.43
RWM	ProShares Short Russell2000	-0.43
TWM	ProShares UltraShort Russell2000	-0.43
SRTY	ProShares UltraPro Short Russell2000	-0.43
CARD	MAX Auto Industry -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC	-0.42

Frequently asked questions about ASTL correlations

Which stocks are most correlated with ASTL?: Based on one year of daily returns, the stocks most correlated with Algoma Steel Group Inc. Common Shares (ASTL) are AKAF (0.47), RSPA (0.47) and NXTI (0.46). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
Which stocks are inversely correlated with ASTL?: Over the past year, the stocks most inversely correlated with Algoma Steel Group Inc. Common Shares (ASTL) are TZA (-0.43), RWM (-0.43) and TWM (-0.43). A negative correlation means the two stocks have tended to move in opposite directions.
What does a correlation of 0.8 mean for a stock?: Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
How are these ASTL correlations calculated?: We compute the correlation of daily returns between ASTL and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.

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