Taseko Mines Correlations

TGB Stock

USD 2.02 0.06 2.88%

The current 90-days correlation between Taseko Mines and Capstone Copper Corp is 0.75 (i.e., Poor diversification). The correlation of Taseko Mines 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.

Taseko Mines Correlation With Market

Significant diversification

The correlation between Taseko Mines and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Taseko Mines 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 Taseko Mines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

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

Moving together with Taseko Stock

0.79	BAK	Braskem SA Class	Pair Corr
0.83	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.67	EGO	Eldorado Gold Corp	Pair Corr
0.73	OLN	Olin Fiscal Year End 23rd of January 2025	Pair Corr
0.77	VHI	Valhi Inc	Pair Corr
0.73	GOLD	Barrick Gold Corp	Pair Corr
0.65	GURE	Gulf Resources	Pair Corr
0.81	CE	Celanese Sell-off Trend	Pair Corr
0.83	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.75	EU	enCore Energy Corp	Pair Corr
0.73	FF	FutureFuel Corp	Pair Corr
0.67	HL	Hecla Mining	Pair Corr
0.69	NB	NioCorp Developments	Pair Corr
0.69	SA	Seabridge Gold	Pair Corr
0.74	TX	Ternium SA ADR	Pair Corr
0.92	VALE	Vale SA ADR	Pair Corr

Moving against Taseko Stock

0.68	CENX	Century Aluminum	Pair Corr
0.45	ZEUS	Olympic Steel	Pair Corr
0.37	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.32	CF	CF Industries Holdings	Pair Corr
0.72	WS	Worthington Steel Earnings Call Tomorrow	Pair Corr
0.64	OC	Owens Corning	Pair Corr
0.59	NC	NACCO Industries	Pair Corr
0.53	RS	Reliance Steel Aluminum	Pair Corr
0.49	TT	Trane Technologies plc	Pair Corr
0.42	NX	Quanex Building Products	Pair Corr
0.36	MP	MP Materials Corp	Pair Corr

Related Correlations Analysis

	CSCCF	HBM	ERO	CPCPF	SCCO	CPPMF	ARREF	LUNMF	CPPKF
CSCCF		0.34	0.84	-0.72	0.77	0.77	0.84	-0.26	0.6	CSCCF
HBM	0.34		0.06	-0.04	0.5	0.17	0.3	-0.33	0.4	HBM
ERO	0.84	0.06		-0.83	0.79	0.93	0.82	-0.26	0.44	ERO
CPCPF	-0.72	-0.04	-0.83		-0.69	-0.85	-0.75	0.51	-0.69	CPCPF
SCCO	0.77	0.5	0.79	-0.69		0.83	0.87	-0.44	0.55	SCCO
CPPMF	0.77	0.17	0.93	-0.85	0.83		0.85	-0.44	0.54	CPPMF
ARREF	0.84	0.3	0.82	-0.75	0.87	0.85		-0.39	0.64	ARREF
LUNMF	-0.26	-0.33	-0.26	0.51	-0.44	-0.44	-0.39		-0.69	LUNMF
CPPKF	0.6	0.4	0.44	-0.69	0.55	0.54	0.64	-0.69		CPPKF
	CSCCF	HBM	ERO	CPCPF	SCCO	CPPMF	ARREF	LUNMF	CPPKF

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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

CPPMF	+ 0.93	ERO
ARREF	+ 0.87	SCCO
ARREF	+ 0.85	CPPMF
ERO	+ 0.84	CSCCF
ARREF	+ 0.84	CSCCF
CPPMF	+ 0.83	SCCO

High negative correlations

CPPMF	- 0.85	CPCPF
CPCPF	- 0.83	ERO
ARREF	- 0.75	CPCPF
CPCPF	- 0.72	CSCCF
CPPKF	- 0.69	LUNMF
CPPKF	- 0.69	CPCPF

Risk-Adjusted Indicators

There is a big difference between Taseko Stock performing well and Taseko Mines 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 Taseko Mines' 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
CSCCF	2.26	(0.11)	0.00	(0.18)	0.00	0.00	6.07	(3.52)	14.73
HBM	2.28	0.21	0.07	0.59	2.61	(2.50)	4.23	(4.77)	15.90
ERO	2.13	(0.62)	0.00	(2.12)	0.00	0.00	4.67	(4.47)	14.61
CPCPF	8.70	2.01	0.21	(0.99)	6.82	(14.38)	26.00	(14.36)	56.76
SCCO	1.89	(0.07)	0.00	(0.12)	0.00	0.00	3.66	(3.80)	13.86
CPPMF	5.95	(0.53)	0.00	1.92	0.00	0.00	13.33	(11.76)	46.67
ARREF	1.66	(0.10)	0.00	(0.14)	0.00	0.00	3.94	(3.25)	11.29
LUNMF	2.02	0.43	0.15	(5.71)	2.35	(2.18)	4.41	(3.71)	12.05
CPPKF	2.36	(0.20)	0.00	(0.57)	0.00	0.00	3.85	(5.17)	12.05

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