Which stocks are most correlated with CMC?

Based on one year of daily returns, the stocks most correlated with Commercial Metals Company (CMC) are SLX (0.69), RS (0.69) and STLD (0.68). 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 CMC?

Over the past year, the stocks most inversely correlated with Commercial Metals Company (CMC) are MZZ (-0.63), SMDD (-0.63) and MYY (-0.62). A negative correlation means the two stocks have tended to move in opposite directions.

Commercial Metals Company (CMC) — Stock Correlations & Overview

Over the past year, CMC has moved most closely with SLX, RS, STLD. Explore the stocks most correlated and inversely correlated with CMC below, along with its price, financials, and company profile.

Stocks correlated with CMC

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

Most correlated with CMC

Symbol	Company	Correlation
SLX	VanEck Steel ETF	0.69
RS	Reliance, Inc.WHOLESALE-METALS SERVICE CENTERS & OFFICES	0.69
STLD	Steel Dynamics IncSTEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)	0.68
NUE	Nucor CorporationSTEEL WORKS, BLAST FURNACES & ROLLING MILLS (COKE OVENS)	0.67
PAVE	Global X U.S. Infrastructure Development ETF	0.67

Most inversely correlated with CMC

Symbol	Company	Correlation
MZZ	ProShares UltraShort MidCap400	-0.63
SMDD	ProShares UltraPro Short MidCap400	-0.63
MYY	ProShares Short MidCap400	-0.62
SBB	ProShares Short SmallCap600	-0.58
SDD	ProShares UltraShort SmallCap600	-0.58

Frequently asked questions about CMC correlations

Which stocks are most correlated with CMC?: Based on one year of daily returns, the stocks most correlated with Commercial Metals Company (CMC) are SLX (0.69), RS (0.69) and STLD (0.68). 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 CMC?: Over the past year, the stocks most inversely correlated with Commercial Metals Company (CMC) are MZZ (-0.63), SMDD (-0.63) and MYY (-0.62). 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 CMC correlations calculated?: We compute the correlation of daily returns between CMC 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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