Tax-loss harvesting alternatives for CENX

Among the 18 Aluminum peers screened, AA (Alcoa) has tracked CENX most closely over the past year, with a return correlation of 0.69. The strongest fund stand-in is XME (SPDR S&P Metals & Mining ETF) at 0.59 over the past year. Correlations are computed from daily closing-price returns aligned by trading day.

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STOCKS

Single-name peers

Ticker	Name	Sub-industry	1Y	3Y	5Y	10Y
AA	Alcoa	Aluminum	0.69	0.71	0.74	0.70
KALU	Kaiser Aluminum Corporation	Aluminum	0.47	0.51	0.55	0.55
FCX	Freeport-McMoRan	Copper	0.44	0.54	0.61	0.58
CDE	Coeur Mining	Gold	0.39	0.41	0.42	0.31
MP	MP Materials	Diversified Metals & Mining	0.38	0.31	0.37	0.34
CLF	Cleveland-Cliffs	Steel	0.37	0.42	0.47	0.48
NEM	Newmont Corp.	Gold	0.34	0.33	0.34	0.26
HL	Hecla Mining	Silver	0.34	0.40	0.44	0.35
RGLD	Royal Gold	Gold	0.33	0.34	0.35	0.24
STLD	Steel Dynamics	Steel	0.32	0.42	0.47	0.49
HCC	Warrior Met Coal, Inc.	Steel	0.30	0.34	0.38	0.36
WS	Worthington Steel	Steel	0.28	0.31	—	—
CMC	Commercial Metals	Steel	0.27	0.38	0.43	0.48
AMR	Alpha Metallurgical Resources, Inc.	Steel	0.26	0.30	0.36	—
RS	Reliance, Inc.	Steel	0.26	0.32	0.38	0.44
MTUS	Metallus Inc	Steel	0.25	0.37	0.48	0.45
NUE	Nucor Corp.	Steel	0.24	0.37	0.43	0.49
MTRN	Materion Corp.	Diversified Metals & Mining	0.22	0.30	0.33	0.36

ETFS

Fund stand-ins

An ETF is generally not 'substantially identical' to a single stock, which is why funds are the standard wash-sale-aware replacement.

Ticker	Name	Focus	Match	1Y	3Y	5Y	10Y
XME	SPDR S&P Metals & Mining ETF	Metals & Mining	INDUSTRY	0.59	0.63	0.69	0.67
IYM	iShares US Basic Materials ETF	Materials Sector	SECTOR	0.46	0.54	0.61	0.57
COPX	Global X Copper Miners ETF	Copper Miners	SUB-IND	0.45	0.52	0.59	0.56
SLX	VanEck Steel ETF	Steel	SUB-IND	0.42	0.52	0.59	0.59
GDX	VanEck Gold Miners ETF	Gold Miners	SUB-IND	0.37	0.37	0.39	0.26
RING	iShares MSCI Global Gold Miners	Gold Miners	SUB-IND	0.37	0.36	0.38	0.27
VAW	Vanguard Materials ETF	Materials Sector	SECTOR	0.37	0.49	0.56	0.54
FMAT	Fidelity MSCI Materials ETF	Materials Sector	SECTOR	0.37	0.49	0.56	0.54
PAVE	Global X US Infrastructure	Infrastructure	SECTOR	0.35	0.46	0.51	0.52
SPY	SPDR S&P 500 ETF	S&P 500	BROAD	0.32	0.41	0.46	0.43
VOO	Vanguard S&P 500 ETF	S&P 500	BROAD	0.32	0.41	0.45	0.43
XLB	Materials Select Sector SPDR	Materials Sector	SECTOR	0.31	0.46	0.53	0.51

NEXT STEPS

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Replacement research for CENX's peers

AA KALU FCX CDE MP CLF NEM HL RGLD STLD HCC WS CMC AMR RS MTUS NUE MTRN

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Method: Pearson correlation of daily closing-price returns, Yahoo Finance data, series aligned by trading day, refreshed weekly. A cell is blank when overlapping history covers less than 60% of its window. Correlation is descriptive, not predictive. Wash-sale treatment depends on facts and circumstances — confirm with a tax professional. Not investment advice.