Pan American Correlations

PAAS Stock

USD 25.75 0.65 2.46%

The current 90-days correlation between Pan American Silver and Wheaton Precious Metals is 0.82 (i.e., Very poor diversification). The correlation of Pan American 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.

Pan American Correlation With Market

Average diversification

The correlation between Pan American Silver and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pan American Silver 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 Pan American Silver. 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 Pan Stock

0.95	AU	AngloGold Ashanti plc	Pair Corr
0.98	AEM	Agnico Eagle Mines	Pair Corr
0.73	BTG	B2Gold Corp	Pair Corr
0.94	EQX	Equinox Gold Corp	Pair Corr
0.96	GFI	Gold Fields	Pair Corr
0.68	IAG	IAMGold	Pair Corr
0.9	KGC	Kinross Gold	Pair Corr
0.94	NEM	Newmont Goldcorp Corp	Pair Corr
0.96	WPM	Wheaton Precious Metals	Pair Corr
0.94	GOLD	Barrick Gold Corp	Pair Corr
0.95	SAND	Sandstorm Gold	Pair Corr
0.85	X	United States Steel	Pair Corr
0.73	CX	Cemex SAB de	Pair Corr
0.84	DC	Dakota Gold Corp	Pair Corr
0.7	HL	Hecla Mining	Pair Corr
0.93	MP	MP Materials Corp	Pair Corr
0.88	MT	ArcelorMittal SA ADR	Pair Corr
0.68	NB	NioCorp Developments	Pair Corr
0.81	NC	NACCO Industries	Pair Corr
0.68	OR	Osisko Gold Ro	Pair Corr
0.74	TX	Ternium SA ADR	Pair Corr

Moving against Pan Stock

0.76	EU	enCore Energy Corp	Pair Corr
0.75	FF	FutureFuel Corp	Pair Corr
0.7	IE	Ivanhoe Electric	Pair Corr
0.62	CF	CF Industries Holdings	Pair Corr
0.59	CE	Celanese	Pair Corr
0.57	AA	Alcoa Corp	Pair Corr
0.51	CC	Chemours	Pair Corr
0.85	FEAM	5E Advanced Materials	Pair Corr
0.85	ASH	Ashland Global Holdings	Pair Corr
0.8	FMST	Foremost Lithium Resource	Pair Corr
0.78	AMR	Alpha Metallurgical	Pair Corr
0.75	ALB	Albemarle Corp	Pair Corr
0.74	NX	Quanex Building Products	Pair Corr
0.73	TT	Trane Technologies plc	Pair Corr
0.7	ALB-PA	Albemarle	Pair Corr
0.68	WTTR	Select Energy Services	Pair Corr

Related Correlations Analysis

	NEM	WPM	FNV	KGC	RGLD	AEM	SAND	GOLD	BTG	GFI
NEM		0.88	0.91	0.92	0.87	0.94	0.91	0.87	0.61	0.92	NEM
WPM	0.88		0.95	0.8	0.96	0.95	0.94	0.98	0.8	0.97	WPM
FNV	0.91	0.95		0.91	0.9	0.99	0.95	0.91	0.71	0.98	FNV
KGC	0.92	0.8	0.91		0.75	0.93	0.89	0.75	0.52	0.89	KGC
RGLD	0.87	0.96	0.9	0.75		0.92	0.88	0.96	0.75	0.93	RGLD
AEM	0.94	0.95	0.99	0.93	0.92		0.95	0.91	0.66	0.99	AEM
SAND	0.91	0.94	0.95	0.89	0.88	0.95		0.9	0.73	0.95	SAND
GOLD	0.87	0.98	0.91	0.75	0.96	0.91	0.9		0.81	0.93	GOLD
BTG	0.61	0.8	0.71	0.52	0.75	0.66	0.73	0.81		0.71	BTG
GFI	0.92	0.97	0.98	0.89	0.93	0.99	0.95	0.93	0.71		GFI
	NEM	WPM	FNV	KGC	RGLD	AEM	SAND	GOLD	BTG	GFI

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Risk-Adjusted Indicators

There is a big difference between Pan Stock performing well and Pan American 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 Pan American'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
NEM	1.57	0.31	0.16	0.42	1.90	(1.71)	3.61	(3.35)	9.47
WPM	1.36	0.37	0.24	0.54	1.36	(1.46)	2.98	(2.54)	7.59
FNV	1.10	0.44	0.33	0.93	1.04	(1.26)	3.01	(2.14)	7.88
KGC	1.93	0.39	0.14	0.66	2.45	(1.97)	4.85	(4.94)	12.67
RGLD	1.15	0.15	0.09	0.19	1.68	(1.09)	2.04	(2.49)	8.62
AEM	1.42	0.39	0.22	0.64	1.62	(1.62)	3.84	(2.31)	9.76
SAND	1.52	0.33	0.14	0.87	2.22	(1.59)	3.51	(3.39)	10.97
GOLD	1.41	0.22	0.14	0.43	1.62	(1.53)	3.05	(2.73)	10.08
BTG	2.10	0.30	0.15	3.04	2.32	(2.33)	5.07	(3.11)	13.12
GFI	1.94	0.67	0.39	4.21	1.51	(2.36)	4.18	(2.64)	10.30

Pan American Corporate Management

Delaney Fisher	Associate VP	Profile
Steven Busby	Chief Officer	Profile
Cameron Paterson	Senior IT	Profile
Christopher Lemon	General Counsel	Profile
Ignacio Couturier	Chief Officer	Profile

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