Alamos Gold Correlations

AGI Stock

USD 22.30 0.78 3.38%

The current 90-days correlation between Alamos Gold and Pan American Silver is 0.86 (i.e., Very 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 0.12 (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

0.74	WLKP	Westlake Chemical Earnings Call Tomorrow	Pair Corr
0.69	CDE	Coeur Mining Earnings Call This Week	Pair Corr
0.8	IDR	Idaho Strategic Resources	Pair Corr
0.92	SAND	Sandstorm Gold	Pair Corr
0.96	AU	AngloGold Ashanti plc	Pair Corr
0.86	CX	Cemex SAB de	Pair Corr
0.8	DC	Dakota Gold Corp	Pair Corr
0.72	HL	Hecla Mining	Pair Corr
0.82	MP	MP Materials Corp Earnings Call This Week	Pair Corr
0.65	MT	ArcelorMittal SA ADR	Pair Corr
0.92	NB	NioCorp Developments	Pair Corr

Moving against Alamos Stock

0.68	OLN	Olin	Pair Corr
0.58	HUN	Huntsman Earnings Call This Week	Pair Corr
0.51	VHI	Valhi Inc	Pair Corr
0.49	AA	Alcoa Corp	Pair Corr
0.45	TROX	Tronox Holdings PLC	Pair Corr
0.37	EGO	Eldorado Gold Corp Earnings Call This Week	Pair Corr
0.35	KALU	Kaiser Aluminum Earnings Call This Week	Pair Corr
0.71	EU	enCore Energy Corp	Pair Corr
0.69	IE	Ivanhoe Electric	Pair Corr
0.62	CSTM	Constellium Nv Earnings Call This Week	Pair Corr
0.46	CTGO	Contango ORE	Pair Corr
0.63	TT	Trane Technologies plc	Pair Corr
0.57	WS	Worthington Steel	Pair Corr
0.46	HYMCW	Hycroft Mining Holding	Pair Corr
0.44	ELBM	Electra Battery Materials	Pair Corr
0.43	NG	NovaGold Resources Downward Rally	Pair Corr

Related Correlations Analysis

	PAAS	NEM	WPM	FNV	KGC	SAND	RGLD	SA	AU	HMY
PAAS		0.89	0.93	0.79	0.83	0.87	0.72	0.29	0.86	0.85	PAAS
NEM	0.89		0.92	0.74	0.79	0.84	0.76	0.42	0.85	0.86	NEM
WPM	0.93	0.92		0.69	0.71	0.85	0.82	0.46	0.77	0.77	WPM
FNV	0.79	0.74	0.69		0.97	0.91	0.3	-0.2	0.96	0.92	FNV
KGC	0.83	0.79	0.71	0.97		0.89	0.35	-0.09	0.97	0.95	KGC
SAND	0.87	0.84	0.85	0.91	0.89		0.51	0.03	0.91	0.85	SAND
RGLD	0.72	0.76	0.82	0.3	0.35	0.51		0.73	0.41	0.43	RGLD
SA	0.29	0.42	0.46	-0.2	-0.09	0.03	0.73		-0.06	0.03	SA
AU	0.86	0.85	0.77	0.96	0.97	0.91	0.41	-0.06		0.97	AU
HMY	0.85	0.86	0.77	0.92	0.95	0.85	0.43	0.03	0.97		HMY
	PAAS	NEM	WPM	FNV	KGC	SAND	RGLD	SA	AU	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

KGC	+ 0.97	FNV
AU	+ 0.97	KGC
HMY	+ 0.97	AU
AU	+ 0.96	FNV
HMY	+ 0.95	KGC
WPM	+ 0.93	PAAS

High negative correlations

SA	- 0.2	FNV
SA	- 0.09	KGC
AU	- 0.06	SA

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
PAAS	2.11	0.15	0.06	0.69	2.35	(2.26)	5.69	(3.94)	12.66
NEM	1.44	0.07	0.03	0.10	1.88	(1.56)	3.49	(2.53)	8.92
WPM	1.59	0.08	0.03	0.11	2.06	(1.63)	3.25	(4.14)	8.29
FNV	1.32	0.19	0.11	0.34	1.51	(1.44)	3.30	(2.52)	6.93
KGC	2.08	0.14	0.05	0.23	2.99	(2.11)	4.85	(4.83)	12.67
SAND	1.44	0.16	0.07	0.33	2.01	(1.49)	3.18	(3.65)	8.00
RGLD	1.32	(0.02)	0.00	(0.04)	0.00	0.00	2.87	(2.75)	10.29
SA	2.37	(0.56)	0.00	(0.54)	0.00	0.00	3.31	(4.73)	10.25
AU	2.12	0.26	0.10	0.33	2.41	(2.38)	5.09	(3.16)	10.55
HMY	2.28	0.18	0.06	0.31	2.71	(2.47)	5.01	(4.39)	12.12

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