CLF vs. STLD
CLF (Cleveland-Cliffs Inc.) and STLD (Steel Dynamics, Inc.) are both stocks. Both operate in the Steel industry within the Basic Materials sector. Over the past 10 years, CLF returned 9.71%/yr vs 28.98%/yr for STLD. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
CLF vs. STLD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CLF achieves a -10.47% return, which is significantly lower than STLD's 48.57% return. Over the past 10 years, CLF has underperformed STLD with an annualized return of 9.71%, while STLD has yielded a comparatively higher 28.98% annualized return.
CLF
- 1D
- -3.18%
- 1M
- 5.88%
- YTD
- -10.47%
- 6M
- -13.46%
- 1Y
- 70.34%
- 3Y*
- -9.10%
- 5Y*
- -10.87%
- 10Y*
- 9.71%
STLD
- 1D
- 0.43%
- 1M
- 4.56%
- YTD
- 48.57%
- 6M
- 43.66%
- 1Y
- 102.05%
- 3Y*
- 36.68%
- 5Y*
- 35.36%
- 10Y*
- 28.98%
CLF vs. STLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CLF Cleveland-Cliffs Inc. | -10.47% | 41.28% | -53.97% | 26.75% | -26.00% | 49.52% | 77.38% | 12.72% | 6.66% | -14.27% |
STLD Steel Dynamics, Inc. | 48.57% | 50.70% | -1.99% | 22.75% | 60.14% | 71.42% | 12.46% | 16.78% | -29.02% | 23.34% |
Correlation
The correlation between CLF and STLD is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 1996 | 0.55 |
The correlation between CLF and STLD shifts across timeframes, from 0.55 (all time) to 0.69 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
CLF:
$6.71B
STLD:
$36.34B
CLF:
-$2.37
STLD:
$9.33
CLF:
0.32
STLD:
1.94
CLF:
1.15
STLD:
3.97
CLF:
$18.90B
STLD:
$19.01B
CLF:
-$528.00M
STLD:
$2.66B
CLF:
$134.00M
STLD:
$2.23B
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CLF vs. STLD — Risk / Return Rank
CLF
STLD
CLF vs. STLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cleveland-Cliffs Inc. (CLF) and Steel Dynamics, Inc. (STLD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CLF | STLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.44 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 5.05 | -3.68 |
| Martin ratioReturn relative to average drawdown | 2.80 | 16.77 | -13.97 |
Loading charts...
Drawdowns
CLF vs. STLD - Drawdown Comparison
The maximum CLF drawdown since its inception was -98.78%, which is greater than STLD's maximum drawdown of -87.05%. Use the drawdown chart below to compare losses from any high point for CLF and STLD.
Loading charts...
Drawdown Indicators
| CLF | STLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.78% | -87.05% | -11.73% |
Max Drawdown (1Y)Largest decline over 1 year | -51.67% | -20.33% | -31.34% |
Max Drawdown (3Y)Largest decline over 3 years | -74.46% | -28.66% | -45.80% |
Max Drawdown (5Y)Largest decline over 5 years | -82.37% | -32.20% | -50.17% |
Max Drawdown (10Y)Largest decline over 10 years | -82.37% | -68.46% | -13.91% |
Current DrawdownCurrent decline from peak | -87.88% | -11.24% | -76.64% |
Average DrawdownAverage peak-to-trough decline | -47.64% | -33.25% | -14.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.22% | 6.11% | +19.11% |
Volatility
CLF vs. STLD - Volatility Comparison
Cleveland-Cliffs Inc. (CLF) has a higher volatility of 21.99% compared to Steel Dynamics, Inc. (STLD) at 13.03%. This indicates that CLF's price experiences larger fluctuations and is considered to be riskier than STLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CLF | STLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.99% | 13.03% | +8.96% |
Volatility (6M)Calculated over the trailing 6-month period | 47.21% | 26.49% | +20.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.44% | 34.30% | +34.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.12% | 38.12% | +21.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 62.13% | 39.39% | +22.74% |
Dividends
CLF vs. STLD - Dividend Comparison
CLF has not paid dividends to shareholders, while STLD's dividend yield for the trailing twelve months is around 0.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CLF Cleveland-Cliffs Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.82% | 3.10% | 0.00% | 0.00% | 0.00% | 0.00% |
STLD Steel Dynamics, Inc. | 0.81% | 1.18% | 1.61% | 1.44% | 1.39% | 1.68% | 2.71% | 2.82% | 2.50% | 1.44% | 1.57% | 3.08% |
Financials
CLF vs. STLD - Financials Comparison
This section allows you to compare key financial metrics between Cleveland-Cliffs Inc. and Steel Dynamics, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CLF vs. STLD - Profitability Comparison
CLF - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Cleveland-Cliffs Inc. reported a gross profit of -82.00M and revenue of 4.92B. Therefore, the gross margin over that period was -1.7%.
STLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a gross profit of 763.22M and revenue of 5.20B. Therefore, the gross margin over that period was 14.7%.
CLF - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Cleveland-Cliffs Inc. reported an operating income of -207.00M and revenue of 4.92B, resulting in an operating margin of -4.2%.
STLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported an operating income of 538.00M and revenue of 5.20B, resulting in an operating margin of 10.3%.
CLF - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Cleveland-Cliffs Inc. reported a net income of -237.00M and revenue of 4.92B, resulting in a net margin of -4.8%.
STLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Steel Dynamics, Inc. reported a net income of 403.44M and revenue of 5.20B, resulting in a net margin of 7.8%.
Frequently Asked Questions
CLF and STLD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CLF has higher volatility (21.99%) compared to STLD (13.03%). In terms of maximum drawdown, CLF dropped -98.78% vs STLD's -87.05%.
STLD currently has the higher Sharpe Ratio (3.00 vs 1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for CLF and STLD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer