Collective Mining Correlations

CNL Stock

3.60 0.05 1.41%

The current 90-days correlation between Collective Mining and Stepan Company is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Collective Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Collective Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Collective Mining Correlation With Market

Average diversification

The correlation between Collective Mining and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Collective Mining and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Collective Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

For more information on how to buy Collective Stock please use our How to buy in Collective Stock guide.

Moving together with Collective Stock

0.74	X	United States Steel	Pair Corr
0.64	AG	First Majestic Silver	Pair Corr
0.7	IE	Ivanhoe Electric	Pair Corr
0.66	OR	Osisko Gold Ro	Pair Corr

Moving against Collective Stock

0.73	CBLRF	Campbell Resources	Pair Corr
0.39	CX	Cemex SAB de	Pair Corr
0.34	CE	Celanese	Pair Corr
0.52	NORNQ	Noranda Aluminum Holding	Pair Corr
0.31	MKDTY	Molecular Data	Pair Corr
0.55	FEAM	5E Advanced Materials	Pair Corr
0.48	FMST	Foremost Lithium Resource	Pair Corr
0.45	ELBM	Electra Battery Materials	Pair Corr

Related Correlations Analysis

	SNDL	AXTA	STBFY	TBVPY	SCL	BAK	COCO	CDXS
SNDL		-0.32	0.04	0.0	-0.38	0.16	-0.1	-0.27	SNDL
AXTA	-0.32		-0.76	0.0	0.53	-0.75	0.9	0.92	AXTA
STBFY	0.04	-0.76		0.0	-0.13	0.87	-0.81	-0.77	STBFY
TBVPY	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TBVPY
SCL	-0.38	0.53	-0.13	0.0		-0.04	0.4	0.47	SCL
BAK	0.16	-0.75	0.87	0.0	-0.04		-0.77	-0.79	BAK
COCO	-0.1	0.9	-0.81	0.0	0.4	-0.77		0.93	COCO
CDXS	-0.27	0.92	-0.77	0.0	0.47	-0.79	0.93		CDXS
	SNDL	AXTA	STBFY	TBVPY	SCL	BAK	COCO	CDXS

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Correlation Matchups

Over a given time period, the two securities move together 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

CDXS	+ 0.93	COCO
CDXS	+ 0.92	AXTA
COCO	+ 0.9	AXTA
BAK	+ 0.87	STBFY
SCL	+ 0.53	AXTA
CDXS	+ 0.47	SCL

High negative correlations

COCO	- 0.81	STBFY
CDXS	- 0.79	BAK
COCO	- 0.77	BAK
CDXS	- 0.77	STBFY
STBFY	- 0.76	AXTA
BAK	- 0.75	AXTA

Risk-Adjusted Indicators

There is a big difference between Collective Stock performing well and Collective Mining Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Collective Mining's multiple risk-adjusted performance indicators across the competitive landscape. 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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SNDL	1.92	0.07	(0.02)	(0.08)	3.02	(2.16)	3.86	(3.62)	24.46
AXTA	1.21	0.07	0.05	0.19	1.25	(1.24)	2.81	(2.08)	10.92
STBFY	1.13	(0.08)	0.00	2.97	0.00	0.00	1.93	(2.71)	5.47
TBVPY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SCL	1.23	(0.20)	(0.08)	0.00	1.56	(1.23)	2.04	(2.72)	12.17
BAK	2.05	(0.27)	0.00	6.10	0.00	0.00	4.69	(4.63)	13.72
COCO	1.61	0.47	0.21	1.14	1.50	(1.80)	3.72	(3.13)	11.39
CDXS	2.98	0.60	0.21	0.45	2.55	(3.54)	9.28	(4.64)	18.89

Collective Mining Corporate Executives

Elected by the shareholders, the Collective Mining's board of directors comprises two types of representatives: Collective Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Collective. The board's role is to monitor Collective Mining's management team and ensure that shareholders' interests are well served. Collective Mining's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Collective Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.

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