Coeur Mining Correlations

CDE Stock

USD 6.41 0.15 2.29%

The current 90-days correlation between Coeur Mining and Eldorado Gold Corp is 0.65 (i.e., Poor diversification). The correlation of Coeur 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.

Coeur Mining Correlation With Market

Modest diversification

The correlation between Coeur Mining and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coeur Mining 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 Coeur Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Coeur Stock refer to our How to Trade Coeur Stock guide.

Moving together with Coeur Stock

0.66	IAG	IAMGold	Pair Corr
0.67	HL	Hecla Mining Aggressive Push	Pair Corr
0.65	OR	Osisko Gold Ro	Pair Corr
0.82	SA	Seabridge Gold Earnings Call This Week	Pair Corr

Moving against Coeur Stock

0.51	MERC	Mercer International	Pair Corr
0.38	WDFC	WD 40 Company	Pair Corr

Related Correlations Analysis

	EGO	CDE	GORO	AGI	AEM	PAAS	GFI	HMY
EGO		0.51	-0.12	-0.37	-0.37	0.01	-0.44	-0.3	EGO
CDE	0.51		-0.23	-0.07	0.08	0.21	-0.02	0.26	CDE
GORO	-0.12	-0.23		0.62	0.58	0.65	0.59	0.48	GORO
AGI	-0.37	-0.07	0.62		0.97	0.66	0.98	0.87	AGI
AEM	-0.37	0.08	0.58	0.97		0.67	0.99	0.95	AEM
PAAS	0.01	0.21	0.65	0.66	0.67		0.64	0.61	PAAS
GFI	-0.44	-0.02	0.59	0.98	0.99	0.64		0.93	GFI
HMY	-0.3	0.26	0.48	0.87	0.95	0.61	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
HMY	+ 0.95	AEM
HMY	+ 0.93	GFI
HMY	+ 0.87	AGI

High negative correlations

GFI	- 0.44	EGO
AEM	- 0.37	EGO
AGI	- 0.37	EGO
HMY	- 0.3	EGO
GORO	- 0.23	CDE
GORO	- 0.12	EGO

Risk-Adjusted Indicators

There is a big difference between Coeur Stock performing well and Coeur 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 Coeur 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
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	6.33	1.59	0.22	0.84	5.47	(9.06)	16.67	(8.57)	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	2.02	0.44	0.22	(3.47)	2.00	(2.32)	4.83	(3.75)	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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