Yamana Gold Correlations

Summary

AUYDelisted Stock

USD 5.85 0.07 1.18%

The current 90-days correlation between Yamana Gold and Wheaton Precious Metals is -0.19 (i.e., Good diversification). The correlation of Yamana Gold 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Yamana Gold Correlation With Market

Average diversification

The correlation between Yamana Gold and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Yamana Gold and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Yamana Stock

0.8	CHKEL	Chesapeake Energy Symbol Change	Pair Corr
0.72	CHKEZ	Chesapeake Energy Symbol Change	Pair Corr
0.64	AHT	Ashford Hospitality Trust	Pair Corr

Moving against Yamana Stock

0.73	ASTSW	AST SpaceMobile	Pair Corr
0.53	ATCOL	Atlas Corp	Pair Corr
0.5	PCTTW	PureCycle Technologies	Pair Corr
0.42	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.4	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.4	HPQ	HP Inc	Pair Corr
0.36	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.33	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	AEM	WPM	NEM	KGC	GFI	PAAS	FNV	BTG	IAG	AU
AEM		0.97	0.11	0.8	0.78	0.78	0.92	0.72	0.85	0.5	AEM
WPM	0.97		0.1	0.83	0.84	0.85	0.91	0.73	0.86	0.49	WPM
NEM	0.11	0.1		-0.06	0.27	-0.08	0.29	0.46	0.0	0.67	NEM
KGC	0.8	0.83	-0.06		0.85	0.93	0.71	0.7	0.74	0.1	KGC
GFI	0.78	0.84	0.27	0.85		0.87	0.83	0.83	0.67	0.35	GFI
PAAS	0.78	0.85	-0.08	0.93	0.87		0.71	0.66	0.75	0.15	PAAS
FNV	0.92	0.91	0.29	0.71	0.83	0.71		0.84	0.71	0.57	FNV
BTG	0.72	0.73	0.46	0.7	0.83	0.66	0.84		0.57	0.39	BTG
IAG	0.85	0.86	0.0	0.74	0.67	0.75	0.71	0.57		0.34	IAG
AU	0.5	0.49	0.67	0.1	0.35	0.15	0.57	0.39	0.34		AU
	AEM	WPM	NEM	KGC	GFI	PAAS	FNV	BTG	IAG	AU

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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

WPM	+ 0.97	AEM
PAAS	+ 0.93	KGC
FNV	+ 0.92	AEM
FNV	+ 0.91	WPM
PAAS	+ 0.87	GFI
IAG	+ 0.86	WPM

High negative correlations

PAAS	- 0.08	NEM
KGC	- 0.06	NEM
IAG	- 0.0	NEM

Risk-Adjusted Indicators

There is a big difference between Yamana Stock performing well and Yamana 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 Yamana 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
AEM	1.40	0.07	(0.04)	(0.23)	1.82	(1.55)	3.08	(3.02)	11.67
WPM	1.44	0.01	(0.05)	(0.28)	2.16	(1.34)	2.78	(3.39)	10.53
NEM	1.54	(0.33)	0.00	(0.93)	0.00	0.00	2.51	(3.20)	18.92
KGC	2.01	0.16	0.02	1.14	2.72	(2.08)	5.41	(4.01)	18.27
GFI	2.03	0.09	(0.01)	(5.99)	2.53	(2.20)	4.52	(3.77)	14.93
PAAS	2.20	0.02	(0.02)	0.16	2.31	(2.58)	6.05	(4.04)	14.73
FNV	1.24	(0.03)	(0.07)	(0.05)	1.79	(1.17)	2.46	(2.61)	8.26
BTG	2.09	(0.03)	(0.04)	0.06	2.26	(2.50)	3.90	(4.09)	17.88
IAG	2.62	0.10	0.00	0.58	3.26	(2.92)	6.95	(4.35)	25.09
AU	1.99	(0.32)	0.00	(1.07)	0.00	0.00	3.52	(4.20)	14.65

Yamana Gold Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Yamana Gold stock to make a market-neutral strategy. Peer analysis of Yamana Gold could also be used in its relative valuation, which is a method of valuing Yamana Gold by comparing valuation metrics with similar companies.

Agnico Eagle Mines Wheaton Precious Metals Newmont Goldcorp Corp Kinross Gold Gold Fields Ltd Pan American Silver Franco Nevada B2Gold Corp IAMGold AngloGold Ashanti plc Harmony Gold Mining Eldorado Gold Corp American Airlines Group Alcoa Corp Apple Inc

Risk & Return

Correlation

Still Interested in Yamana Gold?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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