MAG Silver Correlations

MAG Stock

USD 15.35 0.01 0.07%

The current 90-days correlation between MAG Silver Corp and Aya Gold Silver is 0.49 (i.e., Very weak diversification). The correlation of MAG Silver is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

MAG Silver Correlation With Market

Significant diversification

The correlation between MAG Silver Corp and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAG Silver Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MAG Silver Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with MAG Stock

0.77	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.97	AG	First Majestic Silver	Pair Corr
0.71	HMY	Harmony Gold Mining Earnings Call This Week	Pair Corr
0.72	SVM	Silvercorp Metals	Pair Corr
0.97	PAAS	Pan American Silver	Pair Corr
0.86	AUST	Austin Gold Corp	Pair Corr
0.7	X	United States Steel	Pair Corr
0.9	IE	Ivanhoe Electric	Pair Corr
0.75	MP	MP Materials Corp	Pair Corr
0.64	NX	Quanex Building Products Downward Rally	Pair Corr
0.63	OC	Owens Corning	Pair Corr
0.97	OR	Osisko Gold Ro	Pair Corr

Moving against MAG Stock

0.75	GURE	Gulf Resources	Pair Corr
0.41	NG	NovaGold Resources	Pair Corr
0.75	NORNQ	Noranda Aluminum Holding	Pair Corr
0.48	MKDTY	Molecular Data	Pair Corr

Related Correlations Analysis

	AYASF	DSVSF	RSNVF	ANPMF	DOLLF
AYASF		0.49	0.27	0.77	0.59	AYASF
DSVSF	0.49		0.59	0.86	0.82	DSVSF
RSNVF	0.27	0.59		0.53	0.7	RSNVF
ANPMF	0.77	0.86	0.53		0.86	ANPMF
DOLLF	0.59	0.82	0.7	0.86		DOLLF
	AYASF	DSVSF	RSNVF	ANPMF	DOLLF

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Risk-Adjusted Indicators

There is a big difference between MAG Stock performing well and MAG Silver 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 MAG Silver'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
AYASF	3.16	(0.28)	0.00	(0.46)	0.00	0.00	5.86	(4.87)	32.32
DSVSF	4.57	0.63	0.10	26.19	4.10	(6.44)	8.77	(7.27)	34.35
RSNVF	4.30	0.10	0.00	0.06	0.00	0.00	9.09	(8.33)	29.09
ANPMF	4.93	0.08	0.01	0.19	6.04	(5.47)	9.30	(8.49)	29.84
DOLLF	2.35	(0.05)	0.00	(0.11)	0.00	0.00	4.94	(4.65)	13.70

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