Maverix Metals Correlations

Summary

The current 90-days correlation between Maverix Metals and ChargePoint Holdings is 0.03 (i.e., Significant diversification). The correlation of Maverix Metals 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Maverix Metals Correlation With Market

Good diversification

The correlation between Maverix Metals and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Maverix Metals and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Maverix Stock

0.62

Woori Financial Group

Pair Corr

Moving against Maverix Stock

0.34	ATCOL	Atlas Corp	Pair Corr
0.52	DMRC	Digimarc	Pair Corr
0.4	RELY	Remitly Global Tech Boost	Pair Corr
0.39	YPF	YPF Sociedad Anonima	Pair Corr
0.36	KITTW	Nauticus Robotics	Pair Corr
0.47	EVGR	Evergreen Corp	Pair Corr
0.45	AS	Amer Sports,	Pair Corr
0.37	784730AB9	US784730AB94	Pair Corr
0.36	SAPMF	Saipem SpA	Pair Corr

Related Correlations Analysis

	CHPT	EYE	TBBB	MESA	ATER	MNSO	CNLFF
CHPT		-0.46	0.02	0.51	0.56	-0.23	-0.39	CHPT
EYE	-0.46		-0.39	-0.13	-0.39	0.36	0.1	EYE
TBBB	0.02	-0.39		-0.53	0.39	-0.64	0.0	TBBB
MESA	0.51	-0.13	-0.53		0.09	0.12	-0.38	MESA
ATER	0.56	-0.39	0.39	0.09		-0.63	-0.46	ATER
MNSO	-0.23	0.36	-0.64	0.12	-0.63		0.47	MNSO
CNLFF	-0.39	0.1	0.0	-0.38	-0.46	0.47		CNLFF
	CHPT	EYE	TBBB	MESA	ATER	MNSO	CNLFF

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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

ATER	+ 0.56	CHPT
MESA	+ 0.51	CHPT
CNLFF	+ 0.47	MNSO
ATER	+ 0.39	TBBB
MNSO	+ 0.36	EYE
MNSO	+ 0.12	MESA

High negative correlations

MNSO	- 0.64	TBBB
MNSO	- 0.63	ATER
MESA	- 0.53	TBBB
CNLFF	- 0.46	ATER
EYE	- 0.46	CHPT
ATER	- 0.39	EYE

Risk-Adjusted Indicators

There is a big difference between Maverix Stock performing well and Maverix Metals 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 Maverix Metals' 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
CHPT	3.46	(0.13)	0.00	(1.04)	0.00	0.00	7.26	(7.86)	19.49
EYE	1.98	0.09	0.04	0.24	1.93	(2.37)	4.90	(2.54)	10.41
TBBB	1.88	(0.12)	0.00	(2.29)	0.00	0.00	3.13	(4.24)	17.16
MESA	3.03	(0.06)	0.00	(0.04)	0.00	0.00	6.19	(6.50)	23.34
ATER	2.20	(0.55)	0.00	(0.41)	0.00	0.00	5.06	(5.76)	14.22
MNSO	4.07	0.65	0.12	(1.90)	4.52	(4.57)	10.21	(7.35)	19.59
CNLFF	0.05	0.02	0.00	2.08	0.00	0.00	0.00	0.00	1.03

Maverix Metals Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Maverix Metals stock to make a market-neutral strategy. Peer analysis of Maverix Metals could also be used in its relative valuation, which is a method of valuing Maverix Metals by comparing valuation metrics with similar companies.

ChargePoint Holdings National Vision Holdings BBB Foods Mesa Air Group Aterian Miniso Group Holding Canlan Ice Sports American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp

Risk & Return

Correlation

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