Agnico Eagle Correlations

AEM Stock

USD 104.34 1.07 1.02%

The current 90-days correlation between Agnico Eagle Mines and Wheaton Precious Metals is 0.9 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Agnico Eagle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Agnico Eagle Mines moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Agnico Eagle Correlation With Market

Modest diversification

The correlation between Agnico Eagle Mines and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Agnico Eagle Mines 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 Agnico Eagle Mines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Agnico Stock

0.98	AU	AngloGold Ashanti plc	Pair Corr
0.66	BTG	B2Gold Corp	Pair Corr
0.94	EQX	Equinox Gold Corp	Pair Corr
0.99	GFI	Gold Fields	Pair Corr
0.68	IAG	IAMGold	Pair Corr
0.93	KGC	Kinross Gold	Pair Corr
0.94	NEM	Newmont Goldcorp Corp	Pair Corr
0.95	WPM	Wheaton Precious Metals	Pair Corr
0.91	GOLD	Barrick Gold Corp	Pair Corr
0.98	PAAS	Pan American Silver	Pair Corr
0.95	SAND	Sandstorm Gold	Pair Corr
0.9	X	United States Steel	Pair Corr
0.71	CX	Cemex SAB de	Pair Corr
0.84	DC	Dakota Gold Corp	Pair Corr
0.69	HL	Hecla Mining	Pair Corr
0.96	MP	MP Materials Corp	Pair Corr
0.89	MT	ArcelorMittal SA ADR	Pair Corr
0.7	NB	NioCorp Developments	Pair Corr
0.86	NC	NACCO Industries	Pair Corr
0.64	OR	Osisko Gold Ro	Pair Corr
0.7	TX	Ternium SA ADR	Pair Corr

Moving against Agnico Stock

0.79	IE	Ivanhoe Electric	Pair Corr
0.78	EU	enCore Energy Corp	Pair Corr
0.73	FF	FutureFuel Corp	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.58	CE	Celanese	Pair Corr
0.57	CF	CF Industries Holdings	Pair Corr
0.51	CC	Chemours	Pair Corr
0.88	ASH	Ashland Global Holdings	Pair Corr
0.85	FEAM	5E Advanced Materials	Pair Corr
0.82	AMR	Alpha Metallurgical	Pair Corr
0.8	NX	Quanex Building Products	Pair Corr
0.79	ALB	Albemarle Corp	Pair Corr
0.78	FMST	Foremost Lithium Resource	Pair Corr
0.75	TT	Trane Technologies plc	Pair Corr
0.73	ALB-PA	Albemarle	Pair Corr
0.71	WS	Worthington Steel	Pair Corr

Related Correlations Analysis

	WPM	NEM	KGC	GFI	GOLD	PAAS	FNV	RGLD	SAND	OR
WPM		0.88	0.8	0.97	0.98	0.96	0.95	0.96	0.94	0.58	WPM
NEM	0.88		0.92	0.92	0.87	0.94	0.91	0.87	0.91	0.77	NEM
KGC	0.8	0.92		0.89	0.75	0.9	0.91	0.75	0.89	0.73	KGC
GFI	0.97	0.92	0.89		0.93	0.96	0.98	0.93	0.95	0.61	GFI
GOLD	0.98	0.87	0.75	0.93		0.94	0.91	0.96	0.9	0.55	GOLD
PAAS	0.96	0.94	0.9	0.96	0.94		0.96	0.93	0.95	0.68	PAAS
FNV	0.95	0.91	0.91	0.98	0.91	0.96		0.9	0.95	0.61	FNV
RGLD	0.96	0.87	0.75	0.93	0.96	0.93	0.9		0.88	0.58	RGLD
SAND	0.94	0.91	0.89	0.95	0.9	0.95	0.95	0.88		0.72	SAND
OR	0.58	0.77	0.73	0.61	0.55	0.68	0.61	0.58	0.72		OR
	WPM	NEM	KGC	GFI	GOLD	PAAS	FNV	RGLD	SAND	OR

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Risk-Adjusted Indicators

There is a big difference between Agnico Stock performing well and Agnico Eagle 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 Agnico Eagle'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
WPM	1.36	0.37	0.24	0.54	1.36	(1.46)	2.98	(2.54)	7.59
NEM	1.57	0.31	0.16	0.42	1.90	(1.71)	3.61	(3.35)	9.47
KGC	1.93	0.39	0.14	0.66	2.45	(1.97)	4.85	(4.94)	12.67
GFI	1.94	0.67	0.39	4.21	1.51	(2.36)	4.18	(2.64)	10.30
GOLD	1.41	0.22	0.14	0.43	1.62	(1.53)	3.05	(2.73)	10.08
PAAS	2.02	0.28	0.13	0.63	2.23	(2.27)	4.83	(4.14)	11.48
FNV	1.10	0.44	0.33	0.93	1.04	(1.26)	3.01	(2.14)	7.88
RGLD	1.15	0.15	0.09	0.19	1.68	(1.09)	2.04	(2.49)	8.62
SAND	1.52	0.33	0.14	0.87	2.22	(1.59)	3.51	(3.39)	10.97
OR	1.37	0.12	0.10	0.44	1.61	(1.40)	2.98	(2.41)	7.66

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