Caledonia Mining Correlations

Stocks . USA . 
Stock . Caledonia Mining
CMCL Stock  USD 11.25  0.35  3.02%   
The current 90-days correlation between Caledonia Mining and Galiano Gold is 0.38 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Caledonia Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caledonia Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Caledonia Mining Correlation With Market

Significant diversification

The correlation between Caledonia Mining and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Caledonia 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 Caledonia 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 main economic indicators.
For more information on how to buy Caledonia Stock please use our How to buy in Caledonia Stock guide.

Moving together with Caledonia Stock

  0.69MT ArcelorMittal SA ADRPairCorr
  0.76NC NACCO IndustriesPairCorr
  0.65TX Ternium SA ADRPairCorr
  0.71VALE Vale SA ADR Aggressive PushPairCorr

Moving against Caledonia Stock

  0.87EU enCore Energy CorpPairCorr
  0.68OC Owens CorningPairCorr
  0.67CF CF Industries HoldingsPairCorr
  0.67FF FutureFuel CorpPairCorr
  0.53CC Chemours Potential GrowthPairCorr
  0.53CE CelanesePairCorr
  0.31AA Alcoa CorpPairCorr
  0.82MEOH MethanexPairCorr
  0.75TT Trane Technologies plcPairCorr
  0.7MTRN MaterionPairCorr
  0.63NEXA Nexa Resources SAPairCorr
  0.56NITO N2OFF IncPairCorr
  0.41ECVT EcovystPairCorr
  0.39USGOW US GoldMining WarrantPairCorr
  0.38ELBM Electra Battery Materials Buyout TrendPairCorr
  0.35HYMCW Hycroft Mining HoldingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
EQX
+ 0.8
EMX
EMX
+ 0.46
GAU
EQX
+ 0.41
DRD
EMX
+ 0.38
DRD
GAU
+ 0.32
DRD
EQX
+ 0.19
GAU
  
High negative correlations   
MHH
- 0.91
DRD
EQX
- 0.46
MHH
EMX
- 0.36
MHH
MHH
- 0.29
GAU

Risk-Adjusted Indicators

There is a big difference between Caledonia Stock performing well and Caledonia 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 Caledonia 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.

Caledonia Mining Corporate Management

Leonet SteynChief OfficerProfile
Dana BScCOO DirectorProfile
P HumanExecProfile
Paul MatthewsVice ExplorationProfile
Adam ChesterGeneral ComplianceProfile
Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY