McEwen Mining Correlations

MUX Stock

USD 8.34 0.10 1.21%

The current 90-days correlation between McEwen Mining and Endeavour Silver Corp is -0.07 (i.e., Good diversification). The correlation of McEwen 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. If the correlation is 0, the equities are not correlated; they are entirely random.

McEwen Mining Correlation With Market

Modest diversification

The correlation between McEwen Mining and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding McEwen 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 McEwen 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 employment.

For more information on how to buy McEwen Stock please use our How to Invest in McEwen Mining guide.

Moving together with McEwen Stock

0.84	PPTA	Perpetua Resources Corp Earnings Call This Week	Pair Corr
0.77	ATLX	Atlas Lithium	Pair Corr
0.69	AA	Alcoa Corp	Pair Corr
0.77	CC	Chemours	Pair Corr
0.79	CE	Celanese	Pair Corr
0.77	CF	CF Industries Holdings	Pair Corr
0.73	FF	FutureFuel Corp	Pair Corr
0.71	SA	Seabridge Gold Earnings Call This Week	Pair Corr
0.61	HYMCW	Hycroft Mining Holding	Pair Corr

Moving against McEwen Stock

0.72	DC	Dakota Gold Corp	Pair Corr
0.5	CX	Cemex SAB de	Pair Corr
0.46	ITRG	Integra Resources Corp Earnings Call This Week	Pair Corr
0.42	TFPM	Triple Flag Precious	Pair Corr
0.41	GROY	Gold Royalty Corp Earnings Call This Week	Pair Corr
0.39	AU	AngloGold Ashanti plc	Pair Corr
0.35	ASM	Avino Silver Gold Buyout Trend	Pair Corr
0.35	X	United States Steel	Pair Corr
0.33	DD	Dupont De Nemours	Pair Corr
0.63	MT	ArcelorMittal SA ADR	Pair Corr
0.55	AGI	Alamos Gold Sell-off Trend	Pair Corr
0.46	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.43	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.42	MP	MP Materials Corp	Pair Corr
0.38	HYMCL	Hycroft Mining Holding	Pair Corr
0.33	NB	NioCorp Developments	Pair Corr

Related Correlations Analysis

	EXK	FSM	NGD	SAND	IAG
EXK		0.81	0.69	0.61	0.35	EXK
FSM	0.81		0.89	0.76	0.67	FSM
NGD	0.69	0.89		0.81	0.76	NGD
SAND	0.61	0.76	0.81		0.66	SAND
IAG	0.35	0.67	0.76	0.66		IAG
	EXK	FSM	NGD	SAND	IAG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between McEwen Stock performing well and McEwen 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 McEwen 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
EXK	3.51	0.35	0.09	1.92	4.16	(3.75)	8.31	(7.73)	23.75
FSM	2.80	0.35	0.10	0.44	3.48	(2.87)	6.76	(5.87)	16.63
NGD	2.57	0.22	0.08	0.34	2.94	(2.93)	5.32	(4.59)	11.96
SAND	1.57	0.27	0.12	0.66	2.26	(1.61)	3.51	(3.39)	10.97
IAG	2.47	0.14	0.05	0.16	3.49	(2.43)	4.83	(6.08)	17.49

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC