Centerra Gold Correlations

CGAU Stock

USD 6.24 0.01 0.16%

The current 90-days correlation between Centerra Gold and Eldorado Gold Corp is 0.66 (i.e., Poor diversification). The correlation of Centerra 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.

Centerra Gold Correlation With Market

Modest diversification

The correlation between Centerra Gold and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Centerra 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 Centerra 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 nation.

For more information on how to buy Centerra Stock please use our How to Invest in Centerra Gold guide.

Moving together with Centerra Stock

0.7	OR	Osisko Gold Ro	Pair Corr
0.63	BAK	Braskem SA Class	Pair Corr
0.7	CDE	Coeur Mining Aggressive Push	Pair Corr
0.65	CLF	Cleveland Cliffs	Pair Corr
0.62	EQX	Equinox Gold Corp	Pair Corr
0.64	HMY	Harmony Gold Mining	Pair Corr

Moving against Centerra Stock

0.35	IE	Ivanhoe Electric	Pair Corr
0.43	PKX	POSCO Holdings	Pair Corr

Related Correlations Analysis

	GFI	EGO	OR	SSRM	SAND	FNV	RGLD	AGI	SA
GFI		-0.44	0.49	0.94	0.94	0.98	0.86	0.98	-0.16	GFI
EGO	-0.44		0.2	-0.45	-0.33	-0.39	-0.21	-0.37	0.61	EGO
OR	0.49	0.2		0.41	0.64	0.5	0.55	0.49	0.62	OR
SSRM	0.94	-0.45	0.41		0.89	0.93	0.89	0.97	-0.26	SSRM
SAND	0.94	-0.33	0.64	0.89		0.95	0.83	0.94	-0.01	SAND
FNV	0.98	-0.39	0.5	0.93	0.95		0.83	0.98	-0.16	FNV
RGLD	0.86	-0.21	0.55	0.89	0.83	0.83		0.89	0.02	RGLD
AGI	0.98	-0.37	0.49	0.97	0.94	0.98	0.89		-0.19	AGI
SA	-0.16	0.61	0.62	-0.26	-0.01	-0.16	0.02	-0.19		SA
	GFI	EGO	OR	SSRM	SAND	FNV	RGLD	AGI	SA

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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

FNV	+ 0.98	GFI
AGI	+ 0.98	GFI
AGI	+ 0.98	FNV
AGI	+ 0.97	SSRM
FNV	+ 0.95	SAND
SSRM	+ 0.94	GFI

High negative correlations

SSRM	- 0.45	EGO
EGO	- 0.44	GFI
FNV	- 0.39	EGO
AGI	- 0.37	EGO
SAND	- 0.33	EGO
SA	- 0.26	SSRM

Risk-Adjusted Indicators

There is a big difference between Centerra Stock performing well and Centerra 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 Centerra 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
GFI	2.00	0.61	0.34	5.18	1.65	(2.37)	4.16	(2.75)	10.28
EGO	2.07	(0.07)	0.00	(0.25)	0.00	0.00	4.42	(5.33)	16.79
OR	1.43	0.01	0.04	(0.02)	1.79	(1.43)	2.98	(3.06)	7.66
SSRM	2.48	0.59	0.21	0.63	2.35	(2.70)	4.90	(4.55)	17.06
SAND	1.57	0.27	0.12	0.66	2.26	(1.61)	3.51	(3.39)	10.97
FNV	1.16	0.37	0.27	0.73	1.20	(1.30)	3.01	(2.23)	7.88
RGLD	1.21	0.06	0.05	0.03	1.93	(1.11)	2.04	(2.49)	8.62
AGI	1.61	0.43	0.21	0.85	1.79	(1.73)	3.91	(3.38)	8.44
SA	2.58	(0.10)	0.00	(0.18)	0.00	0.00	4.77	(5.52)	20.98

Centerra Gold Corporate Management

Lisa PEng	Vice Communications	Profile
Claudia Orazio	Vice President Chief Human Resource Officer	Profile
Helene Timpano	Executive Development	Profile
Richard Connor	Independent Director	Profile
CA Bbus	VP CFO	Profile

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