Austin Gold Correlations

AUST Stock

USD 1.99 0.07 3.40%

The current 90-days correlation between Austin Gold Corp and Newmont Goldcorp Corp is 0.28 (i.e., Modest diversification). The correlation of Austin 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Austin Gold Correlation With Market

Good diversification

The correlation between Austin Gold Corp and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Austin Gold Corp 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 Austin Gold 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 state.

Moving together with Austin Stock

0.66	X	United States Steel	Pair Corr
0.74	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.79	AG	First Majestic Silver	Pair Corr
0.92	IE	Ivanhoe Electric	Pair Corr
0.88	OR	Osisko Gold Ro	Pair Corr
0.62	WS	Worthington Steel	Pair Corr
0.84	DRD	DRDGOLD Limited ADR	Pair Corr
0.64	GAU	Galiano Gold	Pair Corr
0.65	GFI	Gold Fields	Pair Corr
0.67	HBM	Hudbay Minerals	Pair Corr

Moving against Austin Stock

0.61	NG	NovaGold Resources	Pair Corr
0.54	BAK	Braskem SA Class	Pair Corr
0.48	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.38	HYMCW	Hycroft Mining Holding	Pair Corr
0.33	CE	Celanese	Pair Corr
0.79	HLP	Hongli Group Ordinary	Pair Corr
0.54	PKX	POSCO Holdings	Pair Corr
0.53	PZG	Paramount Gold Nevada	Pair Corr
0.5	ERO	Ero Copper Corp	Pair Corr
0.46	NEM	Newmont Goldcorp Corp	Pair Corr
0.44	PFH	Prudential Financial 4125	Pair Corr
0.41	SID	Companhia Siderurgica	Pair Corr
0.39	FRD	Friedman Industries	Pair Corr
0.34	ODV	Osisko Development Corp	Pair Corr

Related Correlations Analysis

	NEM	FNV	KGC	RGLD	AEM	SAND	GOLD	BTG	GFI
NEM		0.29	-0.06	-0.09	0.11	0.42	0.92	0.46	0.27	NEM
FNV	0.29		0.71	0.72	0.92	0.84	0.54	0.84	0.83	FNV
KGC	-0.06	0.71		0.92	0.8	0.63	0.1	0.7	0.85	KGC
RGLD	-0.09	0.72	0.92		0.85	0.56	0.07	0.6	0.81	RGLD
AEM	0.11	0.92	0.8	0.85		0.79	0.37	0.72	0.78	AEM
SAND	0.42	0.84	0.63	0.56	0.79		0.6	0.87	0.72	SAND
GOLD	0.92	0.54	0.1	0.07	0.37	0.6		0.61	0.38	GOLD
BTG	0.46	0.84	0.7	0.6	0.72	0.87	0.61		0.83	BTG
GFI	0.27	0.83	0.85	0.81	0.78	0.72	0.38	0.83		GFI
	NEM	FNV	KGC	RGLD	AEM	SAND	GOLD	BTG	GFI

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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

GOLD	+ 0.92	NEM
AEM	+ 0.92	FNV
RGLD	+ 0.92	KGC
BTG	+ 0.87	SAND
GFI	+ 0.85	KGC
AEM	+ 0.85	RGLD

High negative correlations

RGLD	- 0.09	NEM
KGC	- 0.06	NEM

Risk-Adjusted Indicators

There is a big difference between Austin Stock performing well and Austin 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 Austin 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
NEM	1.54	(0.33)	0.00	(0.93)	0.00	0.00	2.51	(3.20)	18.92
FNV	1.24	(0.03)	(0.07)	(0.05)	1.79	(1.17)	2.46	(2.61)	8.26
KGC	2.01	0.16	0.02	1.14	2.72	(2.08)	5.41	(4.01)	18.27
RGLD	1.24	0.03	(0.03)	0.27	1.73	(1.17)	2.44	(2.76)	7.40
AEM	1.40	0.07	(0.04)	(0.23)	1.82	(1.55)	3.08	(3.02)	11.67
SAND	1.70	0.03	(0.03)	0.23	2.35	(1.81)	3.33	(2.56)	15.60
GOLD	1.52	(0.25)	0.00	(0.75)	0.00	0.00	2.85	(3.49)	9.58
BTG	2.09	(0.03)	(0.04)	0.06	2.26	(2.50)	3.90	(4.09)	17.88
GFI	2.03	0.09	(0.01)	(5.99)	2.53	(2.20)	4.52	(3.77)	14.93

Austin Gold Corporate Management

BSc CA	Chief Officer	Profile
Donna Moroney	Corporate Secretary	Profile
Robert Hatch	Vice Exploration	Profile
Grant Bond	Chief Officer	Profile
Dennis Com	Pres Director	Profile
PEng MASc	VP Director	Profile

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