First Majestic Correlations

FMV Stock

EUR 5.61 0.21 3.61%

The current 90-days correlation between First Majestic Silver and Fuji Media Holdings is 0.07 (i.e., Significant diversification). The correlation of First Majestic is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

First Majestic Correlation With Market

Good diversification

The correlation between First Majestic Silver and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Majestic Silver and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to First Majestic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Majestic when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back First Majestic - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling First Majestic Silver to buy it.

Moving together with First Stock

0.74	PA2	Pan American Silver	Pair Corr
0.8	MQ8	MAG Silver Corp	Pair Corr
0.61	S9Y	Silvercorp Metals	Pair Corr
0.95	EJD	Endeavour Silver Corp	Pair Corr
0.8	DVQ1	Dolly Varden Silver	Pair Corr
0.8	SWQ	Silver Mines Limited	Pair Corr
0.75	SZ71	Americas Gold	Pair Corr
0.66	1SZ	Santacruz Silver Mining	Pair Corr
0.65	PQ9	BANK MANDIRI	Pair Corr
0.68	ZGV3	Gevo Inc	Pair Corr

Moving against First Stock

0.61	SUI	Sekisui Chemical	Pair Corr
0.45	4JP	Japan Post Insurance	Pair Corr
0.42	H4W	Jardine Matheson Holdings	Pair Corr

Related Correlations Analysis

	9GY	DSG	GIFN	8D9	FTN	AW8	PN1	I9V
9GY		0.34	0.94	0.67	0.09	0.96	0.77	0.58	9GY
DSG	0.34		0.51	0.34	0.47	0.47	0.24	0.4	DSG
GIFN	0.94	0.51		0.65	0.13	0.95	0.69	0.62	GIFN
8D9	0.67	0.34	0.65		0.15	0.71	0.57	0.43	8D9
FTN	0.09	0.47	0.13	0.15		0.2	0.05	0.28	FTN
AW8	0.96	0.47	0.95	0.71	0.2		0.73	0.61	AW8
PN1	0.77	0.24	0.69	0.57	0.05	0.73		0.56	PN1
I9V	0.58	0.4	0.62	0.43	0.28	0.61	0.56		I9V
	9GY	DSG	GIFN	8D9	FTN	AW8	PN1	I9V

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Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Majestic 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 First Majestic'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
9GY	1.93	0.41	0.18	0.33	1.36	(3.78)	5.36	(2.74)	21.30
DSG	2.12	0.22	0.09	(0.57)	1.99	(2.54)	5.65	(3.78)	9.97
GIFN	1.15	0.32	0.20	(1.63)	0.87	(1.84)	4.48	(1.68)	10.24
8D9	1.92	0.18	0.02	(1.14)	3.07	(5.46)	3.57	(3.33)	31.95
FTN	1.18	(0.01)	0.00	0.09	0.00	0.00	2.88	(2.78)	11.07
AW8	1.58	0.70	0.32	3.55	0.73	(3.08)	3.68	(1.86)	26.61
PN1	2.21	0.19	0.06	(0.22)	2.66	(2.20)	4.76	(4.29)	13.35
I9V	1.84	0.18	0.07	10.20	1.98	(2.29)	4.26	(3.42)	11.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Majestic without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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First Majestic Corporate Management

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

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