Metalla Royalty Correlations

MTA Stock

USD 3.01 0.03 1.01%

The current 90-days correlation between Metalla Royalty Streaming and McEwen Mining is 0.53 (i.e., Very weak diversification). The correlation of Metalla Royalty 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.

Metalla Royalty Correlation With Market

Average diversification

The correlation between Metalla Royalty Streaming and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metalla Royalty Streaming 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 Metalla Royalty Streaming. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Metalla Stock

0.84	HL	Hecla Mining	Pair Corr
0.7	ASM	Avino Silver Gold	Pair Corr
0.81	ITRG	Integra Resources Corp Earnings Call Today	Pair Corr
0.81	SLSR	Solaris Resources	Pair Corr
0.68	X	United States Steel Buyout Trend	Pair Corr
0.78	AU	AngloGold Ashanti plc	Pair Corr
0.82	CX	Cemex SAB de Buyout Trend	Pair Corr
0.68	DC	Dakota Gold Corp	Pair Corr
0.71	MP	MP Materials Corp	Pair Corr
0.82	NB	NioCorp Developments	Pair Corr
0.79	OR	Osisko Gold Ro	Pair Corr
0.65	VALE	Vale SA ADR	Pair Corr
0.81	VZLA	Vizsla Resources Corp	Pair Corr

Moving against Metalla Stock

0.34	LODE	Comstock Mining	Pair Corr
0.49	IE	Ivanhoe Electric	Pair Corr
0.38	WS	Worthington Steel	Pair Corr
0.35	FF	FutureFuel Corp	Pair Corr
0.55	FEAM	5E Advanced Materials	Pair Corr
0.51	ALB	Albemarle Corp	Pair Corr
0.49	FMST	Foremost Lithium Resource	Pair Corr
0.48	ALB-PA	Albemarle	Pair Corr
0.48	ASH	Ashland Global Holdings	Pair Corr
0.33	AMR	Alpha Metallurgical	Pair Corr

Related Correlations Analysis

	TFPM	EXK	SILV	GATO	HL	MUX	ASM	NEWP	VOXR
TFPM		0.85	0.42	0.0	0.55	-0.37	0.96	0.09	0.81	TFPM
EXK	0.85		0.35	0.0	0.53	-0.06	0.87	0.45	0.81	EXK
SILV	0.42	0.35		0.0	-0.06	0.06	0.34	0.3	0.47	SILV
GATO	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	GATO
HL	0.55	0.53	-0.06	0.0		0.07	0.66	0.24	0.55	HL
MUX	-0.37	-0.06	0.06	0.0	0.07		-0.26	0.67	-0.07	MUX
ASM	0.96	0.87	0.34	0.0	0.66	-0.26		0.17	0.82	ASM
NEWP	0.09	0.45	0.3	0.0	0.24	0.67	0.17		0.36	NEWP
VOXR	0.81	0.81	0.47	0.0	0.55	-0.07	0.82	0.36		VOXR
	TFPM	EXK	SILV	GATO	HL	MUX	ASM	NEWP	VOXR

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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

ASM	+ 0.96	TFPM
ASM	+ 0.87	EXK
EXK	+ 0.85	TFPM
VOXR	+ 0.82	ASM
VOXR	+ 0.81	TFPM
VOXR	+ 0.81	EXK

High negative correlations

MUX	- 0.37	TFPM
ASM	- 0.26	MUX
VOXR	- 0.07	MUX
HL	- 0.06	SILV
MUX	- 0.06	EXK
VOXR	- 0.0	GATO

Risk-Adjusted Indicators

There is a big difference between Metalla Stock performing well and Metalla Royalty 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 Metalla Royalty'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
TFPM	1.30	0.29	0.15	2.23	1.41	(1.43)	3.82	(2.33)	8.68
EXK	3.38	0.31	0.07	1.00	3.90	(3.80)	8.31	(7.73)	27.89
SILV	2.70	0.21	0.06	0.84	2.99	(2.92)	7.36	(4.41)	15.24
GATO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HL	2.30	0.20	0.05	(1.02)	3.73	(2.16)	5.44	(5.16)	21.73
MUX	2.40	(0.04)	0.00	(0.04)	0.00	0.00	4.47	(6.42)	20.85
ASM	4.06	1.05	0.23	1.45	3.96	(4.99)	8.65	(7.43)	26.36
NEWP	2.96	(0.08)	0.00	(0.10)	0.00	0.00	6.78	(5.65)	16.52
VOXR	2.45	0.32	0.11	0.48	2.53	(2.86)	5.88	(4.58)	13.39

Metalla Royalty Corporate Executives

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

	William Tsang	Chief Financial Officer	Profile
	Bill Tsang	Chief Financial Officer	Profile

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