Orla Mining Correlations

ORLA Stock

USD 8.97 0.15 1.64%

The current 90-days correlation between Orla Mining and K92 Mining is 0.65 (i.e., Poor diversification). The correlation of Orla 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.

Orla Mining Correlation With Market

Good diversification

The correlation between Orla Mining and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orla Mining and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Orla 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 bureau of economic analysis.

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

Moving together with Orla Stock

0.86	AU	AngloGold Ashanti plc	Pair Corr
0.79	DC	Dakota Gold Corp	Pair Corr
0.62	OR	Osisko Gold Ro	Pair Corr
0.61	HYMCL	Hycroft Mining Holding	Pair Corr
0.87	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.94	DRD	DRDGOLD Limited ADR	Pair Corr
0.8	EQX	Equinox Gold Corp Sell-off Trend	Pair Corr
0.94	FNV	Franco Nevada	Pair Corr
0.78	FSM	Fortuna Silver Mines	Pair Corr
0.92	GFI	Gold Fields	Pair Corr
0.83	NEM	Newmont Goldcorp Corp	Pair Corr
0.87	THM	International Tower Hill	Pair Corr
0.91	VGZ	Vista Gold	Pair Corr
0.96	WPM	Wheaton Precious Metals	Pair Corr
0.77	GLDG	GoldMining	Pair Corr
0.93	GOLD	Barrick Gold Corp Aggressive Push	Pair Corr
0.69	GORO	Gold Resource	Pair Corr
0.9	HYMC	Hycroft Mining Holding	Pair Corr
0.69	IAUX	I 80 Gold	Pair Corr
0.92	PAAS	Pan American Silver Sell-off Trend	Pair Corr
0.92	RGLD	Royal Gold	Pair Corr
0.92	SAND	Sandstorm Gold	Pair Corr
0.67	SBSW	Sibanye Gold	Pair Corr
0.92	ARMN	Aris Mining	Pair Corr
0.92	SSRM	SSR Mining	Pair Corr

Moving against Orla Stock

0.7	ODV	Osisko Development Corp Earnings Call This Week	Pair Corr
0.67	HYMCW	Hycroft Mining Holding	Pair Corr
0.38	ODVWZ	Osisko Development Corp	Pair Corr
0.86	EU	enCore Energy Corp	Pair Corr
0.84	FF	FutureFuel Corp	Pair Corr
0.72	CF	CF Industries Holdings	Pair Corr
0.67	CC	Chemours	Pair Corr
0.66	OC	Owens Corning	Pair Corr
0.64	CE	Celanese	Pair Corr
0.6	IE	Ivanhoe Electric	Pair Corr
0.45	CTGO	Contango ORE Downward Rally	Pair Corr

Related Correlations Analysis

	MGDPF	KNTNF	EQX	CTGO	SAND	FNV	RGLD	AGI	SA
MGDPF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	MGDPF
KNTNF	0.0		0.86	-0.16	0.86	0.86	0.8	0.44	0.28	KNTNF
EQX	0.0	0.86		-0.34	0.89	0.92	0.89	0.68	0.15	EQX
CTGO	0.0	-0.16	-0.34		-0.38	-0.45	-0.48	-0.43	0.54	CTGO
SAND	0.0	0.86	0.89	-0.38		0.95	0.9	0.61	0.13	SAND
FNV	0.0	0.86	0.92	-0.45	0.95		0.95	0.67	0.01	FNV
RGLD	0.0	0.8	0.89	-0.48	0.9	0.95		0.71	-0.11	RGLD
AGI	0.0	0.44	0.68	-0.43	0.61	0.67	0.71		-0.17	AGI
SA	0.0	0.28	0.15	0.54	0.13	0.01	-0.11	-0.17		SA
	MGDPF	KNTNF	EQX	CTGO	SAND	FNV	RGLD	AGI	SA

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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

FNV	+ 0.95	SAND
RGLD	+ 0.95	FNV
FNV	+ 0.92	EQX
RGLD	+ 0.9	SAND
SAND	+ 0.89	EQX
RGLD	+ 0.89	EQX

High negative correlations

RGLD	- 0.48	CTGO
FNV	- 0.45	CTGO
AGI	- 0.43	CTGO
SAND	- 0.38	CTGO
CTGO	- 0.34	EQX
SA	- 0.17	AGI

Risk-Adjusted Indicators

There is a big difference between Orla Stock performing well and Orla 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 Orla 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
MGDPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
KNTNF	2.13	0.52	0.28	(0.87)	2.01	(2.72)	5.32	(3.21)	21.29
EQX	2.52	0.51	0.23	(1.56)	2.25	(3.12)	5.29	(4.43)	15.85
CTGO	2.85	(0.05)	0.00	0.04	0.00	0.00	7.21	(5.41)	17.72
SAND	1.53	0.39	0.19	(1.85)	2.15	(1.68)	3.51	(3.02)	10.97
FNV	1.11	0.45	0.38	(1.53)	0.89	(1.31)	3.01	(2.12)	7.88
RGLD	1.09	0.23	0.19	(0.94)	1.26	(1.11)	2.04	(2.08)	8.62
AGI	1.61	0.43	0.21	0.85	1.79	(1.73)	3.91	(3.38)	8.44
SA	2.42	0.08	0.04	(0.33)	4.21	(2.25)	4.77	(4.73)	20.98

Orla Mining Corporate Management

Andrew Bradbury	Director Relations	Profile
BE PEng	Chief Officer	Profile
PEng PEng	CEO Pres	Profile
Paul CA	Vice Accounting	Profile
Etienne Morin	Chief Officer	Profile
Paul Schmidt	Vice Resources	Profile
Christine Gregory	Corporate Secretary	Profile

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