Comstock Mining Correlations

LODE Stock

USD 2.83 0.31 12.30%

The current 90-days correlation between Comstock Mining and J W Mays is 0.08 (i.e., Significant diversification). The correlation of Comstock Mining 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.

Comstock Mining Correlation With Market

Good diversification

The correlation between Comstock Mining and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Comstock Mining and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Comstock 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 unemployment.

For information on how to trade Comstock Stock refer to our How to Trade Comstock Stock guide.

Moving together with Comstock Stock

0.66

Ivanhoe Electric Buyout Trend

Pair Corr

Moving against Comstock Stock

0.61	TFPM	Triple Flag Precious	Pair Corr
0.61	X	United States Steel	Pair Corr
0.6	AU	AngloGold Ashanti plc	Pair Corr
0.57	ASM	Avino Silver Gold	Pair Corr
0.56	BVN	Compania de Minas	Pair Corr
0.51	DC	Dakota Gold Corp	Pair Corr
0.5	GROY	Gold Royalty Corp Earnings Call This Week	Pair Corr
0.46	ITRG	Integra Resources Corp Earnings Call This Week	Pair Corr
0.36	DD	Dupont De Nemours	Pair Corr
0.35	MTA	Metalla Royalty Streaming Earnings Call This Week	Pair Corr
0.63	MP	MP Materials Corp	Pair Corr
0.61	AEM	Agnico Eagle Mines	Pair Corr
0.6	AGI	Alamos Gold	Pair Corr
0.58	MT	ArcelorMittal SA ADR	Pair Corr
0.55	WLKP	Westlake Chemical	Pair Corr
0.54	RS	Reliance Steel Aluminum	Pair Corr
0.53	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.49	VZLA	Vizsla Resources Corp	Pair Corr
0.39	HYMCL	Hycroft Mining Holding	Pair Corr
0.38	TX	Ternium SA ADR	Pair Corr
0.31	NB	NioCorp Developments	Pair Corr

Related Correlations Analysis

	NEN	MMI	MAYS	FSV	MLP	FRPH	TCI	HOUS	RMAX	FTHM
NEN		-0.23	0.31	-0.01	-0.04	-0.01	-0.26	-0.13	0.06	0.08	NEN
MMI	-0.23		-0.42	0.56	0.63	0.79	0.16	0.66	0.52	0.35	MMI
MAYS	0.31	-0.42		-0.26	-0.25	-0.22	-0.12	-0.62	-0.41	-0.36	MAYS
FSV	-0.01	0.56	-0.26		0.77	0.55	0.13	0.31	0.8	0.81	FSV
MLP	-0.04	0.63	-0.25	0.77		0.53	0.18	0.24	0.83	0.79	MLP
FRPH	-0.01	0.79	-0.22	0.55	0.53		-0.12	0.52	0.46	0.36	FRPH
TCI	-0.26	0.16	-0.12	0.13	0.18	-0.12		-0.01	0.08	0.12	TCI
HOUS	-0.13	0.66	-0.62	0.31	0.24	0.52	-0.01		0.42	0.18	HOUS
RMAX	0.06	0.52	-0.41	0.8	0.83	0.46	0.08	0.42		0.91	RMAX
FTHM	0.08	0.35	-0.36	0.81	0.79	0.36	0.12	0.18	0.91		FTHM
	NEN	MMI	MAYS	FSV	MLP	FRPH	TCI	HOUS	RMAX	FTHM

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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

FTHM	+ 0.91	RMAX
RMAX	+ 0.83	MLP
FTHM	+ 0.81	FSV
RMAX	+ 0.8	FSV
FRPH	+ 0.79	MMI
FTHM	+ 0.79	MLP

High negative correlations

HOUS	- 0.62	MAYS
MAYS	- 0.42	MMI
RMAX	- 0.41	MAYS
FTHM	- 0.36	MAYS
FSV	- 0.26	MAYS
TCI	- 0.26	NEN

Risk-Adjusted Indicators

There is a big difference between Comstock Stock performing well and Comstock 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 Comstock 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
NEN	1.54	0.08	0.09	(0.26)	1.48	(2.65)	4.39	(3.08)	12.59
MMI	1.63	(0.10)	0.00	(0.16)	0.00	0.00	2.94	(3.82)	10.27
MAYS	1.10	(0.16)	0.00	(3.81)	0.00	0.00	3.24	(3.61)	16.26
FSV	0.96	(0.12)	0.00	(0.24)	0.00	0.00	2.00	(2.62)	5.89
MLP	1.79	(0.20)	0.00	(0.27)	0.00	0.00	4.19	(3.61)	13.66
FRPH	1.12	(0.12)	0.00	(0.22)	0.00	0.00	1.81	(3.61)	7.96
TCI	1.63	(0.01)	0.03	0.16	1.88	(2.07)	4.17	(3.13)	12.24
HOUS	3.22	(0.01)	0.00	(0.08)	0.00	0.00	6.03	(7.40)	19.40
RMAX	2.17	(0.32)	0.00	(0.32)	0.00	0.00	4.32	(3.69)	17.71
FTHM	3.70	(0.96)	0.00	(0.72)	0.00	0.00	9.45	(8.28)	20.34

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