Endeavour Silver Correlations

EXK Stock

USD 4.14 0.11 2.59%

The current 90-days correlation between Endeavour Silver Corp and McEwen Mining is 0.8 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Endeavour Silver moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Endeavour Silver Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Endeavour Silver Correlation With Market

Significant diversification

The correlation between Endeavour Silver 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 Endeavour Silver 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 Endeavour Silver 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 interest.

Moving together with Endeavour Stock

0.87	ASM	Avino Silver Gold	Pair Corr
0.75	MTA	Metalla Royalty Streaming Potential Growth	Pair Corr
0.91	PLG	Platinum Group Metals	Pair Corr
0.95	GATO	Gatos Silver	Pair Corr
0.79	HL-PB	Hecla Mining	Pair Corr
0.76	ITRG	Integra Resources Corp	Pair Corr
0.84	PPTA	Perpetua Resources Corp	Pair Corr
0.77	SBSW	Sibanye Gold	Pair Corr
0.91	SILV	SilverCrest Metals	Pair Corr
0.69	TFPM	Triple Flag Precious	Pair Corr
0.63	X	United States Steel	Pair Corr
0.8	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.91	AG	First Majestic Silver	Pair Corr
0.93	IE	Ivanhoe Electric	Pair Corr
0.81	MP	MP Materials Corp	Pair Corr
0.94	OR	Osisko Gold Ro	Pair Corr

Moving against Endeavour Stock

0.37	CX	Cemex SAB de Sell-off Trend	Pair Corr
0.81	NORNQ	Noranda Aluminum Holding	Pair Corr
0.59	MKDTY	Molecular Data	Pair Corr
0.55	ELBM	Electra Battery Materials	Pair Corr
0.51	NG	NovaGold Resources	Pair Corr
0.43	WEBC	Webco Industries	Pair Corr

Related Correlations Analysis

	MUX	SILV	ASM	BVN	MTA	NEWP	HL	GATO	PLG
MUX		0.59	0.79	0.73	0.84	0.63	0.91	0.64	0.38	MUX
SILV	0.59		0.87	0.41	0.77	0.81	0.51	0.93	0.8	SILV
ASM	0.79	0.87		0.46	0.92	0.93	0.65	0.92	0.81	ASM
BVN	0.73	0.41	0.46		0.52	0.23	0.88	0.44	0.09	BVN
MTA	0.84	0.77	0.92	0.52		0.79	0.74	0.86	0.67	MTA
NEWP	0.63	0.81	0.93	0.23	0.79		0.46	0.86	0.88	NEWP
HL	0.91	0.51	0.65	0.88	0.74	0.46		0.59	0.23	HL
GATO	0.64	0.93	0.92	0.44	0.86	0.86	0.59		0.86	GATO
PLG	0.38	0.8	0.81	0.09	0.67	0.88	0.23	0.86		PLG
	MUX	SILV	ASM	BVN	MTA	NEWP	HL	GATO	PLG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Endeavour Stock performing well and Endeavour Silver 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 Endeavour Silver'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
MUX	2.34	(0.22)	0.00	(0.25)	0.00	0.00	5.60	(5.30)	15.30
SILV	2.95	0.23	0.06	0.45	3.00	(3.47)	8.37	(4.82)	16.03
ASM	3.18	0.11	0.02	0.28	3.76	(3.59)	9.09	(6.03)	21.90
BVN	1.75	(0.06)	0.00	0.47	0.00	0.00	4.58	(3.47)	12.30
MTA	2.65	0.10	0.00	0.62	3.31	(2.79)	6.98	(5.43)	20.05
NEWP	3.04	(0.01)	0.01	0.11	3.09	(4.35)	6.77	(4.49)	24.14
HL	2.41	(0.24)	0.00	(0.18)	0.00	0.00	5.92	(4.83)	14.22
GATO	3.02	0.38	0.08	(109.67)	2.80	(3.38)	7.11	(5.14)	20.65
PLG	3.98	0.35	0.05	(0.97)	4.02	(4.71)	10.66	(6.90)	25.39

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