Skeena Resources Correlations

SKE Stock

USD 10.38 0.42 3.89%

The current 90-days correlation between Skeena Resources and Materion is 0.2 (i.e., Modest diversification). The correlation of Skeena Resources 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.

Skeena Resources Correlation With Market

Modest diversification

The correlation between Skeena Resources and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Skeena Resources 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 Skeena Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in industry.

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

Moving together with Skeena Stock

0.76	MP	MP Materials Corp	Pair Corr
0.76	NB	NioCorp Developments	Pair Corr
0.65	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.88	VZLA	Vizsla Resources Corp	Pair Corr
0.85	EMX	EMX Royalty Corp	Pair Corr
0.65	LGO	Largo Resources	Pair Corr
0.69	NAK	Northern Dynasty Minerals	Pair Corr
0.69	TMC	TMC the metals Earnings Call This Week	Pair Corr
0.72	XPL	Solitario Exploration	Pair Corr
0.66	TMCWW	TMC the metals	Pair Corr
0.8	USARW	USARW Symbol Change	Pair Corr

Moving against Skeena Stock

0.47	LZM	Lifezone Metals	Pair Corr
0.41	LAR	Lithium Argentina Symbol Change	Pair Corr
0.37	IPX	IperionX Limited American	Pair Corr
0.61	NEXA	Nexa Resources SA	Pair Corr
0.42	PLL	Piedmont Lithium	Pair Corr
0.37	ABAT	American Battery Tec	Pair Corr

Related Correlations Analysis

	MTRN	CMP	IPX	EMX	NEXA	FURY	VZLA	WRN	USAS	GLG
MTRN		0.68	0.59	-0.36	0.57	-0.09	-0.33	-0.03	-0.31	0.0	MTRN
CMP	0.68		0.28	-0.29	0.17	-0.07	-0.02	0.0	-0.01	0.0	CMP
IPX	0.59	0.28		-0.35	0.71	-0.3	-0.55	0.18	-0.59	0.0	IPX
EMX	-0.36	-0.29	-0.35		-0.52	0.61	0.79	0.51	0.69	0.0	EMX
NEXA	0.57	0.17	0.71	-0.52		-0.3	-0.75	0.0	-0.84	0.0	NEXA
FURY	-0.09	-0.07	-0.3	0.61	-0.3		0.66	0.4	0.51	0.0	FURY
VZLA	-0.33	-0.02	-0.55	0.79	-0.75	0.66		0.33	0.91	0.0	VZLA
WRN	-0.03	0.0	0.18	0.51	0.0	0.4	0.33		0.15	0.0	WRN
USAS	-0.31	-0.01	-0.59	0.69	-0.84	0.51	0.91	0.15		0.0	USAS
GLG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GLG
	MTRN	CMP	IPX	EMX	NEXA	FURY	VZLA	WRN	USAS	GLG

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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

USAS	+ 0.91	VZLA
VZLA	+ 0.79	EMX
NEXA	+ 0.71	IPX
USAS	+ 0.69	EMX
CMP	+ 0.68	MTRN
VZLA	+ 0.66	FURY

High negative correlations

USAS	- 0.84	NEXA
VZLA	- 0.75	NEXA
USAS	- 0.59	IPX
VZLA	- 0.55	IPX
NEXA	- 0.52	EMX
EMX	- 0.36	MTRN

Risk-Adjusted Indicators

There is a big difference between Skeena Stock performing well and Skeena Resources 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 Skeena Resources' 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
MTRN	1.69	(0.28)	0.00	(0.25)	0.00	0.00	3.45	(4.04)	8.55
CMP	2.68	(0.33)	0.00	(2.70)	0.00	0.00	5.70	(5.83)	13.10
IPX	3.40	(0.38)	0.00	4.86	0.00	0.00	5.58	(7.95)	24.21
EMX	1.34	0.20	0.13	0.73	1.43	(1.77)	3.35	(2.26)	8.17
NEXA	3.49	(0.56)	0.00	0.31	0.00	0.00	5.50	(7.04)	22.88
FURY	2.47	0.03	0.03	(0.27)	2.67	(3.95)	5.41	(5.13)	18.43
VZLA	2.74	0.49	0.16	0.79	2.96	(2.96)	5.36	(4.83)	19.39
WRN	2.34	0.09	0.06	(0.36)	2.70	(2.78)	4.76	(3.77)	12.71
USAS	3.32	0.77	0.14	1.35	4.17	(4.06)	7.14	(6.00)	32.95
GLG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Skeena Resources Corporate Management

Justin Himmelright	Vice President - Sustainability	Profile
Justin BSc	Senior Sustainability	Profile
Robert Kiesman	Corporate Secretary	Profile
Galina Meleger	Vice Relations	Profile

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