Alamos Gold Correlations

AGI Stock

CAD 54.07 1.37 2.60%

The current 90-days correlation between Alamos Gold and Pan American Silver is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Alamos Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Alamos Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Alamos Gold Correlation With Market

Modest diversification

The correlation between Alamos Gold 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 Alamos Gold and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Alamos Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Alamos Gold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Alamos Gold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Alamos Gold to buy it.

Moving together with Alamos Stock

0.87	AG	First Majestic Silver	Pair Corr
0.86	ORE	Orezone Gold Corp	Pair Corr
0.74	FDR	Flinders Resources	Pair Corr
0.67	MFC	Manulife Financial Corp	Pair Corr
0.75	TD	Toronto Dominion Bank	Pair Corr
0.61	TRP	TC Energy Corp	Pair Corr
0.72	BNS	Bank of Nova Scotia	Pair Corr
0.65	CM	Canadian Imperial Bank	Pair Corr
0.69	PTEC	Principal Technologies	Pair Corr

Moving against Alamos Stock

0.69	T	Telus Corp	Pair Corr
0.67	AML	Argus Metals Corp	Pair Corr
0.37	INFM	Infinico Metals Corp	Pair Corr

Related Correlations Analysis

	PAAS	LUG	IVN	EDV	LUN	NGD	IMG	EQX	SSRM	OGC
PAAS		0.7	0.41	0.96	0.82	0.93	0.95	0.88	-0.04	0.92	PAAS
LUG	0.7		-0.09	0.72	0.84	0.72	0.84	0.89	-0.28	0.82	LUG
IVN	0.41	-0.09		0.5	0.03	0.37	0.3	0.13	0.54	0.28	IVN
EDV	0.96	0.72	0.5		0.75	0.9	0.94	0.84	0.1	0.91	EDV
LUN	0.82	0.84	0.03	0.75		0.84	0.83	0.86	-0.47	0.86	LUN
NGD	0.93	0.72	0.37	0.9	0.84		0.91	0.84	-0.04	0.87	NGD
IMG	0.95	0.84	0.3	0.94	0.83	0.91		0.94	-0.06	0.93	IMG
EQX	0.88	0.89	0.13	0.84	0.86	0.84	0.94		-0.21	0.91	EQX
SSRM	-0.04	-0.28	0.54	0.1	-0.47	-0.04	-0.06	-0.21		-0.11	SSRM
OGC	0.92	0.82	0.28	0.91	0.86	0.87	0.93	0.91	-0.11		OGC
	PAAS	LUG	IVN	EDV	LUN	NGD	IMG	EQX	SSRM	OGC

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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

EDV	+ 0.96	PAAS
IMG	+ 0.95	PAAS
IMG	+ 0.94	EDV
EQX	+ 0.94	IMG
NGD	+ 0.93	PAAS
OGC	+ 0.93	IMG

High negative correlations

SSRM	- 0.47	LUN
SSRM	- 0.28	LUG
SSRM	- 0.21	EQX
OGC	- 0.11	SSRM
IVN	- 0.09	LUG
SSRM	- 0.06	IMG

Risk-Adjusted Indicators

There is a big difference between Alamos Stock performing well and Alamos Gold 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 Alamos Gold'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
PAAS	2.37	0.45	0.14	0.58	2.89	(2.73)	6.89	(4.49)	13.85
LUG	2.51	0.36	0.09	0.65	3.23	(2.83)	6.87	(3.64)	22.39
IVN	2.56	0.14	0.05	0.20	2.90	(2.63)	5.98	(5.06)	14.03
EDV	1.91	0.27	0.09	0.44	2.47	(1.98)	4.31	(4.09)	17.20
LUN	2.04	0.59	0.26	0.66	1.85	(2.38)	4.61	(3.35)	14.17
NGD	2.75	0.30	0.09	0.30	3.42	(3.14)	6.80	(5.41)	20.09
IMG	2.58	0.28	0.08	0.26	3.59	(2.63)	5.59	(5.51)	18.56
EQX	2.50	0.32	0.10	0.39	3.02	(2.69)	6.11	(4.99)	16.56
SSRM	2.30	(0.17)	0.00	(0.62)	0.00	0.00	4.89	(6.38)	17.67
OGC	2.36	0.46	0.13	0.70	3.00	(2.46)	4.57	(4.28)	15.43

Be your own money manager

Our tools can tell you how much better you can do entering a position in Alamos Gold without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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