Seabridge Gold Correlations

SA Stock

USD 12.07 0.15 1.23%

The current 90-days correlation between Seabridge Gold and Sandstorm Gold Ltd is 0.64 (i.e., Poor diversification). The correlation of Seabridge Gold 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.

Seabridge Gold Correlation With Market

Modest diversification

The correlation between Seabridge Gold and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seabridge Gold and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Seabridge Gold. 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.

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

Moving together with Seabridge Stock

0.62	AA	Alcoa Corp	Pair Corr
0.9	CDE	Coeur Mining Aggressive Push	Pair Corr
0.61	EGO	Eldorado Gold Corp	Pair Corr
0.66	CC	Chemours	Pair Corr
0.64	HL	Hecla Mining	Pair Corr
0.69	OC	Owens Corning	Pair Corr
0.62	OR	Osisko Gold Ro	Pair Corr

Moving against Seabridge Stock

0.43

MERC

Mercer International

Pair Corr

Related Correlations Analysis

	FNV	WPM	OR	SAND	RGLD	FSM	AGI	DRD	GFI	CGAU
FNV		0.94	0.5	0.95	0.83	0.68	0.98	0.92	0.98	0.43	FNV
WPM	0.94		0.5	0.93	0.93	0.67	0.98	0.93	0.95	0.34	WPM
OR	0.5	0.5		0.64	0.55	0.8	0.49	0.4	0.49	0.7	OR
SAND	0.95	0.93	0.64		0.83	0.76	0.94	0.85	0.94	0.51	SAND
RGLD	0.83	0.93	0.55	0.83		0.63	0.89	0.86	0.86	0.31	RGLD
FSM	0.68	0.67	0.8	0.76	0.63		0.67	0.67	0.66	0.55	FSM
AGI	0.98	0.98	0.49	0.94	0.89	0.67		0.95	0.98	0.35	AGI
DRD	0.92	0.93	0.4	0.85	0.86	0.67	0.95		0.92	0.18	DRD
GFI	0.98	0.95	0.49	0.94	0.86	0.66	0.98	0.92		0.44	GFI
CGAU	0.43	0.34	0.7	0.51	0.31	0.55	0.35	0.18	0.44		CGAU
	FNV	WPM	OR	SAND	RGLD	FSM	AGI	DRD	GFI	CGAU

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Risk-Adjusted Indicators

There is a big difference between Seabridge Stock performing well and Seabridge Gold 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 Seabridge Gold'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
FNV	1.16	0.37	0.27	0.73	1.20	(1.30)	3.01	(2.23)	7.88
WPM	1.42	0.32	0.18	0.43	1.59	(1.46)	2.98	(2.72)	7.59
OR	1.43	0.01	0.04	(0.02)	1.79	(1.43)	2.98	(3.06)	7.66
SAND	1.57	0.27	0.12	0.66	2.26	(1.61)	3.51	(3.39)	10.97
RGLD	1.21	0.06	0.05	0.03	1.93	(1.11)	2.04	(2.49)	8.62
FSM	2.80	0.35	0.10	0.44	3.48	(2.87)	6.76	(5.87)	16.63
AGI	1.61	0.43	0.21	0.85	1.79	(1.73)	3.91	(3.38)	8.44
DRD	2.74	0.61	0.23	(1.99)	2.53	(3.10)	7.64	(5.11)	15.23
GFI	2.00	0.61	0.34	5.18	1.65	(2.37)	4.16	(2.75)	10.28
CGAU	1.85	0.10	0.05	0.10	2.60	(1.81)	3.77	(4.26)	11.59

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