Collective Mining Correlations

CNL Stock

10.32 0.49 4.98%

The current 90-days correlation between Collective Mining and Nova Minerals Limited is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Collective Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Collective Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Collective Mining Correlation With Market

Significant diversification

The correlation between Collective Mining and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Collective 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 Collective 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 board of governors.

For more information on how to buy Collective Stock please use our How to buy in Collective Stock guide.

Moving together with Collective Stock

0.61	SSRM	SSR Mining	Pair Corr
0.8	X	United States Steel	Pair Corr
0.72	AG	First Majestic Silver Aggressive Push	Pair Corr
0.88	AU	AngloGold Ashanti plc	Pair Corr
0.73	DC	Dakota Gold Corp	Pair Corr
0.85	MP	MP Materials Corp	Pair Corr
0.87	MT	ArcelorMittal SA ADR	Pair Corr
0.79	TX	Ternium SA ADR	Pair Corr
0.9	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.64	HYMCL	Hycroft Mining Holding	Pair Corr
0.81	VOXR	Vox Royalty Corp	Pair Corr
0.76	VZLA	Vizsla Resources Corp	Pair Corr

Moving against Collective Stock

0.82	FF	FutureFuel Corp	Pair Corr
0.66	CC	Chemours Potential Growth	Pair Corr
0.66	CF	CF Industries Holdings	Pair Corr
0.66	WS	Worthington Steel	Pair Corr
0.61	CE	Celanese	Pair Corr
0.6	AA	Alcoa Corp	Pair Corr
0.56	IE	Ivanhoe Electric Buyout Trend	Pair Corr
0.48	ODVWZ	Osisko Development Corp	Pair Corr
0.87	ASH	Ashland Global Holdings	Pair Corr
0.76	FMST	Foremost Lithium Resource	Pair Corr
0.75	FEAM	5E Advanced Materials Trending	Pair Corr
0.72	HYMCW	Hycroft Mining Holding	Pair Corr
0.7	ALB	Albemarle Corp	Pair Corr
0.7	CBT	Cabot	Pair Corr
0.66	DOW	Dow Inc	Pair Corr
0.57	CMT	Core Molding Technologies	Pair Corr

Related Correlations Analysis

	CNL	NVA	NVAWW	SLSR	254687DF0	BRK-B	EPSN	MCD	RBGLY	EOLS
CNL		-0.47	-0.52	0.25	-0.52	0.92	0.75	0.64	0.57	0.51	CNL
NVA	-0.47		0.74	-0.12	0.66	-0.6	-0.23	-0.44	-0.72	-0.52	NVA
NVAWW	-0.52	0.74		-0.16	0.53	-0.58	-0.13	-0.58	-0.72	-0.44	NVAWW
SLSR	0.25	-0.12	-0.16		-0.22	0.11	0.03	0.19	0.23	0.34	SLSR
254687DF0	-0.52	0.66	0.53	-0.22		-0.57	-0.45	-0.36	-0.66	-0.66	254687DF0
BRK-B	0.92	-0.6	-0.58	0.11	-0.57		0.71	0.73	0.66	0.61	BRK-B
EPSN	0.75	-0.23	-0.13	0.03	-0.45	0.71		0.29	0.22	0.28	EPSN
MCD	0.64	-0.44	-0.58	0.19	-0.36	0.73	0.29		0.71	0.55	MCD
RBGLY	0.57	-0.72	-0.72	0.23	-0.66	0.66	0.22	0.71		0.66	RBGLY
EOLS	0.51	-0.52	-0.44	0.34	-0.66	0.61	0.28	0.55	0.66		EOLS
	CNL	NVA	NVAWW	SLSR	254687DF0	BRK-B	EPSN	MCD	RBGLY	EOLS

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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

BRK-B	+ 0.92	CNL
EPSN	+ 0.75	CNL
NVAWW	+ 0.74	NVA
MCD	+ 0.73	BRK-B
EPSN	+ 0.71	BRK-B
RBGLY	+ 0.71	MCD

High negative correlations

RBGLY	- 0.72	NVAWW
RBGLY	- 0.72	NVA
EOLS	- 0.66	254687DF0
RBGLY	- 0.66	254687DF0
BRK-B	- 0.6	NVA
MCD	- 0.58	NVAWW

Risk-Adjusted Indicators

There is a big difference between Collective Stock performing well and Collective 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 Collective 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
CNL	2.86	1.59	0.69	20.65	1.54	(3.75)	7.62	(2.95)	12.67
NVA	4.66	0.14	0.02	0.03	4.94	(6.41)	11.06	(7.47)	30.95
NVAWW	7.13	(0.07)	0.01	(0.03)	8.78	(8.47)	18.18	(15.49)	46.63
SLSR	2.87	0.31	0.08	0.20	3.35	(3.21)	6.69	(6.41)	14.11
254687DF0	0.32	0.03	0.16	10.37	0.42	(0.34)	0.98	(0.70)	3.52
BRK-B	0.85	0.23	0.25	0.33	0.82	(0.95)	2.05	(1.72)	6.90
EPSN	1.75	0.27	0.14	0.78	1.93	(1.94)	5.04	(3.75)	10.87
MCD	0.92	0.08	0.10	0.11	1.08	(0.98)	1.92	(1.76)	8.10
RBGLY	0.92	0.19	0.28	0.81	0.71	(1.13)	2.30	(1.41)	5.36
EOLS	2.92	0.41	0.11	0.14	2.80	(3.37)	5.47	(4.93)	35.35

Collective Mining Corporate Executives

Elected by the shareholders, the Collective Mining's board of directors comprises two types of representatives: Collective Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Collective. The board's role is to monitor Collective Mining's management team and ensure that shareholders' interests are well served. Collective Mining's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Collective Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.

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