Eldorado Gold Correlations

EGO Stock

USD 16.00 0.12 0.76%

The current 90-days correlation between Eldorado Gold Corp and IAMGold is 0.72 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eldorado Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eldorado Gold Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eldorado Gold Correlation With Market

Significant diversification

The correlation between Eldorado Gold Corp 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 Eldorado Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Eldorado Gold Corp. 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.

Moving together with Eldorado Stock

0.62	BAK	Braskem SA Class	Pair Corr
0.69	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.77	HMY	Harmony Gold Mining Earnings Call This Week	Pair Corr
0.67	PFH	Prudential Financial 4125	Pair Corr
0.65	PKX	POSCO Holdings	Pair Corr
0.9	GOLD	Barrick Gold Corp	Pair Corr
0.63	GROY	Gold Royalty Corp	Pair Corr
0.73	SAND	Sandstorm Gold	Pair Corr
0.74	AU	AngloGold Ashanti plc	Pair Corr
0.76	CE	Celanese	Pair Corr
0.65	EU	enCore Energy Corp	Pair Corr
0.91	HL	Hecla Mining	Pair Corr
0.73	NB	NioCorp Developments	Pair Corr

Moving against Eldorado Stock

0.58	KALU	Kaiser Aluminum	Pair Corr
0.33	ZEUS	Olympic Steel	Pair Corr
0.46	CENX	Century Aluminum	Pair Corr
0.74	ECVT	Ecovyst Potential Growth	Pair Corr
0.59	VKSC	Viskase Companies	Pair Corr

Related Correlations Analysis

	IAG	KGC	AEM	GFI	HMY
IAG		0.75	0.85	0.66	0.7	IAG
KGC	0.75		0.81	0.84	0.73	KGC
AEM	0.85	0.81		0.77	0.8	AEM
GFI	0.66	0.84	0.77		0.92	GFI
HMY	0.7	0.73	0.8	0.92		HMY
	IAG	KGC	AEM	GFI	HMY

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Risk-Adjusted Indicators

There is a big difference between Eldorado Stock performing well and Eldorado 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 Eldorado 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
IAG	2.59	0.20	0.03	1.34	3.21	(2.90)	6.95	(4.35)	25.09
KGC	2.01	0.16	0.02	1.31	2.72	(2.08)	5.41	(4.01)	18.27
AEM	1.42	0.11	(0.02)	(0.39)	1.83	(1.55)	3.08	(3.02)	11.66
GFI	2.02	0.09	(0.01)	(2.68)	2.48	(2.25)	4.52	(3.77)	14.93
HMY	2.71	(0.13)	0.00	(0.42)	0.00	0.00	7.63	(5.89)	17.74

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