Contango ORE Correlations

CTGO Stock

USD 9.98 0.16 1.63%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Contango ORE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Contango ORE moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Contango ORE Correlation With Market

Weak diversification

The correlation between Contango ORE and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Contango ORE 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 Contango ORE. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

To learn how to invest in Contango Stock, please use our How to Invest in Contango ORE guide.

Moving together with Contango Stock

0.76	AA	Alcoa Corp	Pair Corr
0.73	CE	Celanese	Pair Corr
0.69	SA	Seabridge Gold Earnings Call This Week	Pair Corr
0.7	WS	Worthington Steel	Pair Corr
0.69	HYMCW	Hycroft Mining Holding	Pair Corr
0.61	BAK	Braskem SA Class	Pair Corr
0.74	CMC	Commercial Metals	Pair Corr
0.71	DOW	Dow Inc	Pair Corr
0.61	EGO	Eldorado Gold Corp	Pair Corr
0.75	ERO	Ero Copper Corp	Pair Corr
0.62	FCX	Freeport McMoran Copper Aggressive Push	Pair Corr
0.7	HBM	Hudbay Minerals	Pair Corr

Moving against Contango Stock

0.53	DC	Dakota Gold Corp	Pair Corr
0.51	MT	ArcelorMittal SA ADR	Pair Corr
0.5	DRD	DRDGOLD Limited ADR	Pair Corr
0.49	AGI	Alamos Gold Sell-off Trend	Pair Corr
0.41	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.35	AU	AngloGold Ashanti plc	Pair Corr
0.31	X	United States Steel	Pair Corr
0.31	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.49	FNV	Franco Nevada	Pair Corr
0.49	GFI	Gold Fields Sell-off Trend	Pair Corr
0.39	MSB	Mesabi Trust	Pair Corr
0.32	EQX	Equinox Gold Corp	Pair Corr

Related Correlations Analysis

	GBARF	MGDPF	FGBI	GLBZ	PIAC
GBARF		0.0	0.0	0.0	0.0	GBARF
MGDPF	0.0		0.0	0.0	0.0	MGDPF
FGBI	0.0	0.0		0.64	-0.17	FGBI
GLBZ	0.0	0.0	0.64		-0.11	GLBZ
PIAC	0.0	0.0	-0.17	-0.11		PIAC
	GBARF	MGDPF	FGBI	GLBZ	PIAC

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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

GLBZ	+ 0.64	FGBI
MGDPF	+ 0.0	GBARF
FGBI	+ 0.0	GBARF
GLBZ	+ 0.0	GBARF
PIAC	+ 0.0	GBARF
FGBI	+ 0.0	MGDPF

High negative correlations

PIAC	- 0.17	FGBI
PIAC	- 0.11	GLBZ
PIAC	- 0.0	MGDPF
GLBZ	- 0.0	MGDPF
FGBI	- 0.0	MGDPF
PIAC	- 0.0	GBARF

Risk-Adjusted Indicators

There is a big difference between Contango Stock performing well and Contango ORE 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 Contango ORE'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GBARF	0.00	0.00	0.00	0.00	0.00	0.00
MGDPF	0.00	0.00	0.00	0.00	0.00	0.00
FGBI	1.57	(0.84)	(1.45)	2.47	(5.64)	9.37
GLBZ	2.09	(0.20)	0.99	3.52	(4.45)	33.87
PIAC	1.86	(0.13)	(0.02)	0.00	(7.69)	57.79

Contango ORE Corporate Executives

Elected by the shareholders, the Contango ORE's board of directors comprises two types of representatives: Contango ORE inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Contango. The board's role is to monitor Contango ORE's management team and ensure that shareholders' interests are well served. Contango ORE'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, Contango ORE's outside directors are responsible for providing unbiased perspectives on the board's policies.

Leah Gaines

CFO, Chief Accounting Officer, VP, Treasurer and Secretary

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