Alamos Gold Correlations

AGI Stock

USD 26.09 0.04 0.15%

The current 90-days correlation between Alamos Gold and Eldorado Gold Corp is 0.73 (i.e., Poor diversification). The correlation of Alamos Gold 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.

Alamos Gold Correlation With Market

Average diversification

The correlation between Alamos Gold and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alamos Gold 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 Alamos Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

For more detail on how to invest in Alamos Stock please use our How to Invest in Alamos Gold guide.

Moving together with Alamos Stock

0.87	HMY	Harmony Gold Mining	Pair Corr
0.84	KGC	Kinross Gold Aggressive Push	Pair Corr
0.79	NGD	New Gold	Pair Corr
0.85	X	United States Steel	Pair Corr
0.93	AU	AngloGold Ashanti plc	Pair Corr
0.68	CX	Cemex SAB de	Pair Corr
0.87	DC	Dakota Gold Corp	Pair Corr
0.93	MP	MP Materials Corp	Pair Corr
0.93	MT	ArcelorMittal SA ADR	Pair Corr
0.62	NB	NioCorp Developments	Pair Corr
0.85	NC	NACCO Industries	Pair Corr
0.66	TX	Ternium SA ADR	Pair Corr
0.89	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.62	HYMCL	Hycroft Mining Holding	Pair Corr

Moving against Alamos Stock

0.86	EU	enCore Energy Corp	Pair Corr
0.83	FF	FutureFuel Corp	Pair Corr
0.76	NX	Quanex Building Products	Pair Corr
0.74	IE	Ivanhoe Electric	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.69	CE	Celanese	Pair Corr
0.67	CF	CF Industries Holdings	Pair Corr
0.64	CC	Chemours	Pair Corr
0.61	OC	Owens Corning	Pair Corr
0.37	EGO	Eldorado Gold Corp	Pair Corr
0.81	NEXA	Nexa Resources SA	Pair Corr
0.78	TT	Trane Technologies plc	Pair Corr
0.72	HYMCW	Hycroft Mining Holding	Pair Corr
0.69	MEOH	Methanex	Pair Corr
0.67	MTRN	Materion	Pair Corr
0.64	WS	Worthington Steel	Pair Corr
0.42	USGOW	US GoldMining Warrant	Pair Corr
0.41	METC	Ramaco Resources	Pair Corr
0.39	ELBM	Electra Battery Materials	Pair Corr
0.33	ECVT	Ecovyst Downward Rally	Pair Corr

Related Correlations Analysis

	EGO	CDE	GORO	AGI	AEM	PAAS	GFI	HMY
EGO		0.51	-0.49	-0.37	-0.37	-0.26	-0.44	-0.3	EGO
CDE	0.51		-0.36	-0.07	0.08	0.15	-0.02	0.26	CDE
GORO	-0.49	-0.36		0.78	0.76	0.62	0.8	0.7	GORO
AGI	-0.37	-0.07	0.78		0.97	0.95	0.98	0.87	AGI
AEM	-0.37	0.08	0.76	0.97		0.97	0.99	0.95	AEM
PAAS	-0.26	0.15	0.62	0.95	0.97		0.94	0.9	PAAS
GFI	-0.44	-0.02	0.8	0.98	0.99	0.94		0.93	GFI
HMY	-0.3	0.26	0.7	0.87	0.95	0.9	0.93		HMY
	EGO	CDE	GORO	AGI	AEM	PAAS	GFI	HMY

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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

GFI	+ 0.99	AEM
GFI	+ 0.98	AGI
AEM	+ 0.97	AGI
PAAS	+ 0.97	AEM
PAAS	+ 0.95	AGI
HMY	+ 0.95	AEM

High negative correlations

GORO	- 0.49	EGO
GFI	- 0.44	EGO
AEM	- 0.37	EGO
AGI	- 0.37	EGO
GORO	- 0.36	CDE
HMY	- 0.3	EGO

Risk-Adjusted Indicators

There is a big difference between Alamos Stock performing well and Alamos Gold 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 Alamos Gold'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
EGO	2.07	(0.07)	0.00	(0.25)	0.00	0.00	4.42	(5.33)	16.79
CDE	3.12	(0.02)	0.00	(0.09)	0.00	0.00	6.90	(6.80)	18.88
GORO	6.78	1.97	0.29	(5.97)	5.58	(9.71)	17.39	(11.11)	49.70
AGI	1.61	0.43	0.21	0.85	1.79	(1.73)	3.91	(3.38)	8.44
AEM	1.48	0.34	0.19	0.53	1.78	(1.62)	3.84	(2.45)	9.76
PAAS	2.08	0.22	0.10	0.43	2.41	(2.27)	4.83	(4.46)	11.48
GFI	2.00	0.61	0.34	5.18	1.65	(2.37)	4.16	(2.75)	10.28
HMY	2.32	0.49	0.18	1.23	2.55	(2.50)	5.01	(4.39)	13.50

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