MAG Silver Correlations

MAG Stock

USD 15.72 0.29 1.81%

The current 90-days correlation between MAG Silver Corp and Silvercorp Metals is 0.81 (i.e., Very poor diversification). The correlation of MAG Silver 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.

MAG Silver Correlation With Market

Good diversification

The correlation between MAG Silver Corp and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAG Silver Corp 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 MAG 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 nation.

Moving together with MAG Stock

0.68	AGI	Alamos Gold	Pair Corr
0.77	HMY	Harmony Gold Mining	Pair Corr
0.75	IAG	IAMGold	Pair Corr
0.76	KGC	Kinross Gold Aggressive Push	Pair Corr
0.74	NGD	New Gold	Pair Corr
0.73	X	United States Steel	Pair Corr
0.8	AU	AngloGold Ashanti plc	Pair Corr
0.73	CX	Cemex SAB de	Pair Corr
0.68	DC	Dakota Gold Corp	Pair Corr
0.84	HL	Hecla Mining	Pair Corr
0.77	MP	MP Materials Corp	Pair Corr
0.71	NB	NioCorp Developments	Pair Corr
0.7	OR	Osisko Gold Ro	Pair Corr
0.71	RS	Reliance Steel Aluminum	Pair Corr
0.75	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.66	HYMCL	Hycroft Mining Holding	Pair Corr

Moving against MAG Stock

0.54	IE	Ivanhoe Electric Buyout Trend	Pair Corr
0.37	NX	Quanex Building Products	Pair Corr
0.36	EU	enCore Energy Corp	Pair Corr
0.35	FF	FutureFuel Corp	Pair Corr
0.61	NEXA	Nexa Resources SA	Pair Corr
0.36	TT	Trane Technologies plc	Pair Corr

Related Correlations Analysis

	SVM	DOLLF	AYASF	RSNVF	ANPMF	GSVRF	SZSMF	BADEF	KOOYF
SVM		0.68	0.47	-0.74	0.76	0.09	0.0	0.79	0.03	SVM
DOLLF	0.68		0.57	-0.46	0.64	0.55	0.0	0.56	0.27	DOLLF
AYASF	0.47	0.57		-0.25	0.43	0.23	0.0	0.29	0.18	AYASF
RSNVF	-0.74	-0.46	-0.25		-0.79	-0.17	0.0	-0.44	-0.08	RSNVF
ANPMF	0.76	0.64	0.43	-0.79		0.31	0.0	0.52	0.32	ANPMF
GSVRF	0.09	0.55	0.23	-0.17	0.31		0.0	-0.04	0.36	GSVRF
SZSMF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SZSMF
BADEF	0.79	0.56	0.29	-0.44	0.52	-0.04	0.0		0.05	BADEF
KOOYF	0.03	0.27	0.18	-0.08	0.32	0.36	0.0	0.05		KOOYF
	SVM	DOLLF	AYASF	RSNVF	ANPMF	GSVRF	SZSMF	BADEF	KOOYF

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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

BADEF	+ 0.79	SVM
ANPMF	+ 0.76	SVM
DOLLF	+ 0.68	SVM
ANPMF	+ 0.64	DOLLF
AYASF	+ 0.57	DOLLF
BADEF	+ 0.56	DOLLF

High negative correlations

ANPMF	- 0.79	RSNVF
RSNVF	- 0.74	SVM
RSNVF	- 0.46	DOLLF
BADEF	- 0.44	RSNVF
RSNVF	- 0.25	AYASF
GSVRF	- 0.17	RSNVF

Risk-Adjusted Indicators

There is a big difference between MAG Stock performing well and MAG 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 MAG 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
SVM	2.37	0.40	0.14	1.70	2.78	(2.50)	7.48	(4.56)	14.56
DOLLF	2.21	0.04	0.03	0.04	2.43	(3.06)	6.06	(4.11)	14.11
AYASF	3.06	0.06	0.03	0.19	3.71	(3.31)	6.69	(5.80)	17.10
RSNVF	3.69	(0.45)	0.00	(0.56)	0.00	0.00	6.85	(5.88)	26.12
ANPMF	3.20	0.45	0.11	0.30	3.67	(3.47)	8.47	(5.49)	18.46
GSVRF	2.73	0.12	0.02	2.28	3.28	(11.39)	9.09	(7.69)	25.00
SZSMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BADEF	2.86	0.40	0.10	0.32	2.74	(4.63)	5.26	(5.13)	24.27
KOOYF	3.86	0.40	0.08	0.79	4.63	(4.30)	8.82	(8.57)	24.01

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