3M Correlations

MMM
 Stock
  

USD 129.04  1.04  0.81%   

The correlation of 3M is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Additionally, see Correlation Analysis.
  
The ability to find closely correlated positions to 3M could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace 3M when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back 3M - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling 3M Company to buy it.

Moving together with 3M

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+0.85HONHoneywell InternationalPairCorr
+0.75JCIJohnson Controls IntlPairCorr
+0.8OSKOshkosh Truck CorpPairCorr
+0.79TRNTrinity IndustriesPairCorr
+0.72AGCOAgco CorpPairCorr
+0.87AIRAAR CorpPairCorr
+0.65AITApplied IndustrialPairCorr
+0.85AMATApplied MaterialsPairCorr
+0.91AOSSmith AO CorpPairCorr
+0.78APDAir Products AndPairCorr
+0.62ARAntero Resources CorpPairCorr
+0.8AROCArchrockPairCorr
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Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
GEEMR
OSKEMR
JCIETN
OSKGE
JCIEMR
JCIGE
  
High negative correlations   
ETNCSL
JCICSL
OSKCSL
GECSL
EMRCSL
FTVCSL

3M Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between 3M Stock performing well and 3M company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze 3M's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
CSL 1.74 (0.28)  0.00 (0.37)  0.00 (0.11)  0.00  2.54 (3.35)  18.93 
EMR 1.52  0.10  0.06  0.15  1.56  0.06 (1.74)  3.60 (2.87)  7.42 
ETN 1.44  0.15  0.09  0.20  1.54  0.08 (1.66)  3.16 (2.74)  8.08 
FTV 1.46 (0.02)  0.00  0.05  1.58 (0.0026) (1.67)  3.14 (2.43)  7.81 
GE 1.54  0.15  0.08  0.19  1.77  0.08 (1.68)  3.43 (2.68)  8.77 
JCI 1.88  0.23  0.13  0.23  1.78  0.10 (2.31)  4.40 (3.83)  8.48 
LEG 1.81 (0.19)  0.00 (0.11)  0.00 (0.08)  0.00  3.86 (3.55)  11.73 
OSK 1.61  0.11  0.07  0.14  1.68  0.06 (1.75)  3.56 (2.72)  8.69 

Be your own money manager

Our tools can tell you how much better you can do entering a position in 3M without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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3M Corporate Directors

3M corporate directors refer to members of a 3M board of directors. The board of directors generally takes responsibility for the 3M's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of 3M's board members must vote for the resolution. The 3M board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.
Vance Coffman - Independent DirectorProfile
Muhtar Kent - Independent DirectorProfile
Gregory Page - Independent DirectorProfile
Linda Alvarado - Independent DirectorProfile

Invested in 3M Company?

The danger of trading 3M Company is mainly related to its market volatility and company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of 3M is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than 3M. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile 3M Company is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Additionally, see Correlation Analysis. You can also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.

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When running 3M Company price analysis, check to measure 3M's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy 3M is operating at the current time. Most of 3M's value examination focuses on studying past and present price action to predict the probability of 3M's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move 3M's price. Additionally, you may evaluate how the addition of 3M to your portfolios can decrease your overall portfolio volatility.
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Is 3M's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of 3M. If investors know 3M will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about 3M listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
1.76
Market Capitalization
70.8 B
Quarterly Revenue Growth YOY
(0.036) 
Return On Assets
0.0674
Return On Equity
0.46
The market value of 3M Company is measured differently than its book value, which is the value of 3M that is recorded on the company's balance sheet. Investors also form their own opinion of 3M's value that differs from its market value or its book value, called intrinsic value, which is 3M's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because 3M's market value can be influenced by many factors that don't directly affect 3M's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between 3M's value and its price as these two are different measures arrived at by different means. Investors typically determine 3M value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, 3M's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.