Wheaton Precious Correlations

WPM Stock

USD 75.84 0.10 0.13%

The current 90-days correlation between Wheaton Precious Metals and Royal Gold is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Wheaton Precious moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wheaton Precious Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Wheaton Precious Correlation With Market

Weak diversification

The correlation between Wheaton Precious Metals and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wheaton Precious Metals and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wheaton Precious Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Wheaton Stock

0.92	AU	AngloGold Ashanti plc	Pair Corr
0.96	AEM	Agnico Eagle Mines	Pair Corr
0.83	BTG	B2Gold Corp	Pair Corr
0.88	EQX	Equinox Gold Corp Buyout Trend	Pair Corr
0.97	GFI	Gold Fields	Pair Corr
0.82	KGC	Kinross Gold Aggressive Push	Pair Corr
0.89	NEM	Newmont Goldcorp Corp	Pair Corr
0.98	GOLD	Barrick Gold Corp	Pair Corr
0.96	PAAS	Pan American Silver	Pair Corr
0.93	SAND	Sandstorm Gold Buyout Trend	Pair Corr
0.82	X	United States Steel Buyout Trend	Pair Corr
0.61	AG	First Majestic Silver	Pair Corr
0.66	CX	Cemex SAB de Buyout Trend	Pair Corr
0.85	DC	Dakota Gold Corp	Pair Corr
0.9	MP	MP Materials Corp	Pair Corr
0.95	MT	ArcelorMittal SA ADR	Pair Corr
0.81	NC	NACCO Industries	Pair Corr
0.63	OR	Osisko Gold Ro	Pair Corr
0.78	TX	Ternium SA ADR	Pair Corr

Moving against Wheaton Stock

0.89	EU	enCore Energy Corp	Pair Corr
0.88	FF	FutureFuel Corp	Pair Corr
0.77	CF	CF Industries Holdings	Pair Corr
0.72	CE	Celanese	Pair Corr
0.71	CC	Chemours	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr
0.63	IE	Ivanhoe Electric	Pair Corr
0.91	AMR	Alpha Metallurgical	Pair Corr
0.91	ASH	Ashland Global Holdings	Pair Corr
0.89	FEAM	5E Advanced Materials	Pair Corr
0.87	FMST	Foremost Lithium Resource	Pair Corr
0.82	NX	Quanex Building Products	Pair Corr
0.82	ALB	Albemarle Corp	Pair Corr
0.81	WTTR	Select Energy Services	Pair Corr
0.79	TT	Trane Technologies plc	Pair Corr
0.77	FBIN	Fortune Brands Innov	Pair Corr

Related Correlations Analysis

	RGLD	AEM	SAND	OR	FNV	SA	PAAS	NEM	KGC	GFI
RGLD		0.94	0.91	0.63	0.94	-0.09	0.94	0.89	0.8	0.96	RGLD
AEM	0.94		0.94	0.68	0.99	0.05	0.98	0.94	0.93	0.99	AEM
SAND	0.91	0.94		0.79	0.95	0.1	0.94	0.9	0.89	0.93	SAND
OR	0.63	0.68	0.79		0.68	0.53	0.7	0.79	0.76	0.65	OR
FNV	0.94	0.99	0.95	0.68		0.0	0.96	0.92	0.92	0.98	FNV
SA	-0.09	0.05	0.1	0.53	0.0		0.1	0.22	0.31	-0.02	SA
PAAS	0.94	0.98	0.94	0.7	0.96	0.1		0.94	0.91	0.97	PAAS
NEM	0.89	0.94	0.9	0.79	0.92	0.22	0.94		0.93	0.93	NEM
KGC	0.8	0.93	0.89	0.76	0.92	0.31	0.91	0.93		0.9	KGC
GFI	0.96	0.99	0.93	0.65	0.98	-0.02	0.97	0.93	0.9		GFI
	RGLD	AEM	SAND	OR	FNV	SA	PAAS	NEM	KGC	GFI

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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

FNV	+ 0.99	AEM
GFI	+ 0.99	AEM
PAAS	+ 0.98	AEM
GFI	+ 0.98	FNV
GFI	+ 0.97	PAAS
GFI	+ 0.96	RGLD

High negative correlations

SA	- 0.09	RGLD
GFI	- 0.02	SA
SA	- 0.0	FNV

Risk-Adjusted Indicators

There is a big difference between Wheaton Stock performing well and Wheaton Precious 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 Wheaton Precious' 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
RGLD	1.15	0.17	0.08	0.31	1.65	(1.09)	2.04	(2.49)	8.62
AEM	1.40	0.40	0.21	0.83	1.61	(1.61)	3.84	(2.31)	9.76
SAND	1.61	0.43	0.16	1.13	2.23	(1.76)	3.73	(3.39)	10.97
OR	1.41	0.17	0.10	0.62	1.64	(1.47)	2.98	(2.41)	7.66
FNV	1.09	0.41	0.27	0.95	1.03	(1.23)	3.01	(2.14)	7.88
SA	2.43	(0.03)	0.00	(0.03)	0.00	0.00	4.77	(5.52)	20.98
PAAS	2.00	0.28	0.11	0.67	2.29	(2.16)	4.83	(4.14)	11.48
NEM	1.59	0.29	0.13	0.48	1.93	(1.70)	3.61	(3.35)	9.47
KGC	1.89	0.40	0.13	0.88	2.46	(1.91)	4.85	(4.94)	12.67
GFI	1.96	0.65	0.31	(3.40)	1.68	(2.31)	4.18	(2.88)	11.38

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