SSR Mining Correlations

SSRM Stock

USD 11.18 0.14 1.27%

The current 90-days correlation between SSR Mining and Centerra Gold is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SSR Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SSR Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SSR Mining Correlation With Market

Modest diversification

The correlation between SSR 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 SSR Mining 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 SSR 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 metropolitan statistical area.

To learn how to invest in SSR Stock, please use our How to Invest in SSR Mining guide.

Moving together with SSR Stock

0.8	X	United States Steel Sell-off Trend	Pair Corr
0.87	AU	AngloGold Ashanti plc	Pair Corr
0.91	DC	Dakota Gold Corp	Pair Corr
0.9	MT	ArcelorMittal SA ADR	Pair Corr
0.62	HYMCL	Hycroft Mining Holding	Pair Corr
0.61	WLKP	Westlake Chemical	Pair Corr
0.92	AEM	Agnico Eagle Mines Sell-off Trend	Pair Corr
0.97	AGI	Alamos Gold	Pair Corr
0.74	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.9	DRD	DRDGOLD Limited ADR	Pair Corr
0.86	EQX	Equinox Gold Corp Sell-off Trend	Pair Corr
0.93	FNV	Franco Nevada	Pair Corr
0.94	GFI	Gold Fields	Pair Corr
0.79	HMY	Harmony Gold Mining	Pair Corr

Moving against SSR Stock

0.79	CE	Celanese	Pair Corr
0.69	IE	Ivanhoe Electric	Pair Corr
0.69	HYMCW	Hycroft Mining Holding	Pair Corr
0.67	AA	Alcoa Corp	Pair Corr
0.62	DOW	Dow Inc	Pair Corr
0.59	WS	Worthington Steel	Pair Corr
0.5	EGO	Eldorado Gold Corp	Pair Corr
0.37	CMC	Commercial Metals	Pair Corr
0.86	OLN	Olin	Pair Corr
0.82	ODV	Osisko Development Corp Earnings Call This Week	Pair Corr
0.54	ERO	Ero Copper Corp	Pair Corr
0.51	HBM	Hudbay Minerals	Pair Corr
0.49	LXU	Lsb Industries	Pair Corr

Related Correlations Analysis

	CGAU	GFI	EGO	OR	RGLD	SAND	DRD	AU	HMY	KGC
CGAU		0.43	-0.09	0.7	0.3	0.51	0.16	0.6	0.64	0.7	CGAU
GFI	0.43		-0.5	0.44	0.84	0.93	0.92	0.97	0.93	0.87	GFI
EGO	-0.09	-0.5		0.2	-0.21	-0.39	-0.33	-0.43	-0.35	-0.38	EGO
OR	0.7	0.44	0.2		0.54	0.6	0.35	0.57	0.57	0.59	OR
RGLD	0.3	0.84	-0.21	0.54		0.81	0.84	0.8	0.74	0.69	RGLD
SAND	0.51	0.93	-0.39	0.6	0.81		0.84	0.93	0.87	0.87	SAND
DRD	0.16	0.92	-0.33	0.35	0.84	0.84		0.83	0.81	0.69	DRD
AU	0.6	0.97	-0.43	0.57	0.8	0.93	0.83		0.97	0.94	AU
HMY	0.64	0.93	-0.35	0.57	0.74	0.87	0.81	0.97		0.92	HMY
KGC	0.7	0.87	-0.38	0.59	0.69	0.87	0.69	0.94	0.92		KGC
	CGAU	GFI	EGO	OR	RGLD	SAND	DRD	AU	HMY	KGC

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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

AU	+ 0.97	GFI
HMY	+ 0.97	AU
KGC	+ 0.94	AU
SAND	+ 0.93	GFI
HMY	+ 0.93	GFI
AU	+ 0.93	SAND

High negative correlations

EGO	- 0.5	GFI
AU	- 0.43	EGO
SAND	- 0.39	EGO
KGC	- 0.38	EGO
HMY	- 0.35	EGO
DRD	- 0.33	EGO

Risk-Adjusted Indicators

There is a big difference between SSR Stock performing well and SSR 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 SSR 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
CGAU	1.85	0.10	0.05	0.10	2.60	(1.80)	3.77	(4.26)	11.59
GFI	2.00	0.60	0.35	9.51	1.65	(2.35)	4.16	(2.75)	10.28
EGO	2.10	(0.02)	0.00	(0.16)	0.00	0.00	4.42	(5.33)	16.79
OR	1.47	0.07	0.08	0.21	1.75	(1.48)	3.07	(3.06)	7.66
RGLD	1.26	0.13	0.09	0.14	1.88	(1.21)	2.66	(2.49)	9.75
SAND	1.61	0.32	0.15	0.86	2.25	(1.69)	3.54	(3.39)	11.26
DRD	2.78	0.63	0.25	(1.76)	2.52	(3.17)	7.64	(5.11)	15.23
AU	2.11	0.52	0.24	1.55	1.99	(2.39)	5.10	(3.55)	12.42
HMY	2.34	0.51	0.19	1.43	2.51	(2.54)	5.01	(4.39)	13.50
KGC	2.09	0.33	0.14	4.19	2.64	(2.07)	4.85	(4.94)	12.67

SSR Mining Corporate Management

Susan Gehoski	Vice Resources	Profile
Alex Hunchak	Director Relations	Profile
BSc BSc	Ex COO	Profile
Joanne Thomopoulos	Executive Resources	Profile
Accountancy BBus	CEO Pres	Profile
Finance BCom	Executive Officer	Profile

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