Teck Resources Correlations

TECK Stock

USD 41.47 1.01 2.38%

The current 90-days correlation between Teck Resources and Vale SA ADR is 0.52 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Teck Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Teck Resources Ltd moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Teck Resources Correlation With Market

Very weak diversification

The correlation between Teck Resources Ltd and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Teck Resources Ltd 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 Teck Resources Ltd. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Teck Stock

0.64	CMP	Compass Minerals Int	Pair Corr
0.63	IONR	ioneer American	Pair Corr

Related Correlations Analysis

	RIO	VALE	MP	LAC	GLCNF	NGLOY	BHP	PLL	SGML	SLI
RIO		0.9	0.84	-0.29	-0.53	0.46	0.79	-0.63	0.01	-0.52	RIO
VALE	0.9		0.82	-0.47	-0.72	0.22	0.7	-0.72	-0.04	-0.64	VALE
MP	0.84	0.82		-0.34	-0.61	0.29	0.55	-0.71	0.04	-0.41	MP
LAC	-0.29	-0.47	-0.34		0.72	0.28	-0.02	0.73	0.47	0.8	LAC
GLCNF	-0.53	-0.72	-0.61	0.72		0.31	-0.2	0.83	0.11	0.79	GLCNF
NGLOY	0.46	0.22	0.29	0.28	0.31		0.6	0.06	0.27	0.15	NGLOY
BHP	0.79	0.7	0.55	-0.02	-0.2	0.6		-0.19	0.09	-0.29	BHP
PLL	-0.63	-0.72	-0.71	0.73	0.83	0.06	-0.19		0.18	0.72	PLL
SGML	0.01	-0.04	0.04	0.47	0.11	0.27	0.09	0.18		0.23	SGML
SLI	-0.52	-0.64	-0.41	0.8	0.79	0.15	-0.29	0.72	0.23		SLI
	RIO	VALE	MP	LAC	GLCNF	NGLOY	BHP	PLL	SGML	SLI

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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

VALE	+ 0.9	RIO
MP	+ 0.84	RIO
PLL	+ 0.83	GLCNF
MP	+ 0.82	VALE
SLI	+ 0.8	LAC
BHP	+ 0.79	RIO

High negative correlations

PLL	- 0.72	VALE
GLCNF	- 0.72	VALE
PLL	- 0.71	MP
SLI	- 0.64	VALE
PLL	- 0.63	RIO
GLCNF	- 0.61	MP

Risk-Adjusted Indicators

There is a big difference between Teck Stock performing well and Teck 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 Teck 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
RIO	1.01	0.06	0.09	0.21	1.23	(1.10)	2.27	(1.73)	5.53
VALE	1.18	0.21	0.16	0.56	1.28	(1.26)	3.44	(2.05)	7.10
MP	3.00	0.62	0.20	0.35	2.78	(3.82)	10.08	(4.91)	19.21
LAC	2.82	0.03	0.00	(0.04)	0.00	0.00	6.73	(4.91)	18.06
GLCNF	1.62	(0.27)	0.00	(0.90)	0.00	0.00	2.82	(3.62)	13.89
NGLOY	1.43	(0.04)	0.00	(0.18)	0.00	0.00	3.10	(3.14)	11.97
BHP	1.00	(0.03)	0.00	(0.17)	0.00	0.00	2.13	(2.10)	5.88
PLL	2.67	(0.45)	0.00	(0.38)	0.00	0.00	4.60	(6.76)	17.98
SGML	2.32	0.07	0.03	0.01	2.78	(2.49)	7.36	(4.37)	16.82
SLI	3.08	(0.04)	0.00	(0.10)	0.00	0.00	7.01	(5.97)	18.40

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