McEwen Mining Correlations
| 0JZT Stock | 7.37 0.00 0.00% |
The current 90-days correlation between McEwen Mining and Ion Beam Applications is -0.11 (i.e., Good diversification). The correlation of McEwen Mining 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. If the correlation is 0, the equities are not correlated; they are entirely random.
McEwen Mining Correlation With Market
Good diversification
The correlation between McEwen Mining and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding McEwen Mining and DJI in the same portfolio, assuming nothing else is changed.
McEwen |
The ability to find closely correlated positions to McEwen Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace McEwen Mining 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 McEwen Mining - 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 McEwen Mining to buy it.
Moving against McEwen Stock
| 0.39 | SMSD | Samsung Electronics | PairCorr |
| 0.33 | BC94 | Samsung Electronics | PairCorr |
| 0.33 | SMSN | Samsung Electronics | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between McEwen Stock performing well and McEwen 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 McEwen 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| JD | 1.94 | (0.32) | 0.00 | (0.98) | 0.00 | 3.63 | 10.37 | |||
| THRL | 1.24 | 0.19 | 0.18 | 0.80 | 1.17 | 2.91 | 6.40 | |||
| 0GZK | 1.46 | (0.15) | 0.00 | (0.45) | 0.00 | 2.59 | 12.00 | |||
| 0ILW | 1.13 | (0.15) | 0.00 | (58.96) | 0.00 | 2.18 | 14.66 | |||
| PRTC | 1.43 | (0.29) | 0.00 | (0.67) | 0.00 | 2.64 | 7.30 | |||
| 0HRS | 1.74 | 0.56 | 0.33 | 1.19 | 1.39 | 4.17 | 19.59 | |||
| DATA | 1.47 | (0.25) | 0.00 | (0.95) | 0.00 | 3.20 | 17.40 |
McEwen Mining Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with McEwen Mining stock to make a market-neutral strategy. Peer analysis of McEwen Mining could also be used in its relative valuation, which is a method of valuing McEwen Mining by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
McEwen Mining Corporate Management
Elected by the shareholders, the McEwen Mining's board of directors comprises two types of representatives: McEwen Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of McEwen. The board's role is to monitor McEwen Mining's management team and ensure that shareholders' interests are well served. McEwen 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, McEwen Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Michael Meding | Vice Inc | Profile | |
| Sean Farrell | Executive Officer | Profile | |
| Kenneth PGeo | Exploration Manager | Profile | |
| Mihaela Iancu | Head Relations | Profile | |
| Stefan BSc | Vice Development | Profile | |
| Stephen PGeo | Ex Exploration | Profile |