US GoldMining Correlations

USGO Stock

9.91 0.26 2.56%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as US GoldMining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if US GoldMining Common moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

US GoldMining Correlation With Market

Average diversification

The correlation between US GoldMining Common and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US GoldMining Common 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 US GoldMining Common. 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.

Moving together with USGO Stock

0.76	NB	NioCorp Developments	Pair Corr
0.62	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.62	BHP	BHP Group Limited	Pair Corr
0.66	EMX	EMX Royalty Corp	Pair Corr
0.68	SKE	Skeena Resources Earnings Call This Week	Pair Corr
0.7	TMC	TMC the metals Earnings Call Today	Pair Corr
0.83	XPL	Solitario Exploration	Pair Corr
0.67	TMCWW	TMC the metals	Pair Corr
0.75	USARW	USARW Symbol Change	Pair Corr

Moving against USGO Stock

0.42	NVA	Nova Minerals Limited	Pair Corr
0.41	LAR	Lithium Argentina Symbol Change	Pair Corr
0.4	NVAWW	Nova Minerals Limited Upward Rally	Pair Corr
0.36	LAC	Lithium Americas Corp	Pair Corr
0.35	LZM	Lifezone Metals	Pair Corr
0.34	PLL	Piedmont Lithium	Pair Corr
0.31	GRFX	Graphex Group Limited	Pair Corr
0.48	NEXA	Nexa Resources SA	Pair Corr
0.45	ABAT	American Battery Tec	Pair Corr
0.44	IE	Ivanhoe Electric Upward Rally	Pair Corr
0.4	CRML	Critical Metals Corp	Pair Corr
0.36	FF	FutureFuel Corp	Pair Corr
0.36	NG	NovaGold Resources Earnings Call Tomorrow	Pair Corr
0.32	CF	CF Industries Holdings	Pair Corr
0.31	CE	Celanese	Pair Corr

Related Correlations Analysis

	NTSGF	BNL	GNL-PD	LLESY	CFRLF	ASUR	CLPS	ZH
NTSGF		-0.77	-0.6	0.2	-0.37	0.36	-0.06	-0.65	NTSGF
BNL	-0.77		0.49	0.09	0.38	-0.4	-0.16	0.63	BNL
GNL-PD	-0.6	0.49		0.2	0.11	0.08	0.36	0.32	GNL-PD
LLESY	0.2	0.09	0.2		-0.1	0.08	0.19	0.07	LLESY
CFRLF	-0.37	0.38	0.11	-0.1		-0.09	-0.03	0.14	CFRLF
ASUR	0.36	-0.4	0.08	0.08	-0.09		0.56	-0.22	ASUR
CLPS	-0.06	-0.16	0.36	0.19	-0.03	0.56		0.29	CLPS
ZH	-0.65	0.63	0.32	0.07	0.14	-0.22	0.29		ZH
	NTSGF	BNL	GNL-PD	LLESY	CFRLF	ASUR	CLPS	ZH

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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

ZH	+ 0.63	BNL
CLPS	+ 0.56	ASUR
GNL-PD	+ 0.49	BNL
CFRLF	+ 0.38	BNL
ASUR	+ 0.36	NTSGF
CLPS	+ 0.36	GNL-PD

High negative correlations

BNL	- 0.77	NTSGF
ZH	- 0.65	NTSGF
GNL-PD	- 0.6	NTSGF
ASUR	- 0.4	BNL
CFRLF	- 0.37	NTSGF
ZH	- 0.22	ASUR

Risk-Adjusted Indicators

There is a big difference between USGO Stock performing well and US GoldMining 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 US GoldMining'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
NTSGF	0.58	(0.21)	0.00	0.58	0.00	0.00	0.78	(3.40)	10.39
BNL	1.04	0.05	0.07	0.05	1.28	(1.14)	2.15	(2.29)	4.51
GNL-PD	0.90	0.03	0.06	0.06	1.27	(0.99)	1.97	(2.18)	8.25
LLESY	1.79	(0.26)	0.00	(1.17)	0.00	0.00	4.16	(7.21)	19.90
CFRLF	0.52	0.28	0.00	0.76	0.00	0.00	0.00	0.00	17.50
ASUR	2.26	0.20	0.06	0.07	2.48	(2.98)	4.04	(4.10)	21.20
CLPS	2.44	0.26	0.10	0.84	2.54	(3.12)	6.90	(5.13)	16.13
ZH	3.18	0.53	0.14	0.52	3.27	(3.95)	8.05	(5.89)	27.14

US GoldMining Corporate Executives

Elected by the shareholders, the US GoldMining's board of directors comprises two types of representatives: US GoldMining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of USGO. The board's role is to monitor US GoldMining's management team and ensure that shareholders' interests are well served. US GoldMining's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, US GoldMining's outside directors are responsible for providing unbiased perspectives on the board's policies.

Tyler CA

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