Cameco Corp Correlations

CCJ Stock

USD 60.93 3.32 5.76%

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

Cameco Corp Correlation With Market

Weak diversification

The correlation between Cameco Corp and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cameco Corp and DJI in the same portfolio, assuming nothing else is changed.

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

For more information on how to buy Cameco Stock please use our How to buy in Cameco Stock guide.

Moving together with Cameco Stock

0.66	EU	enCore Energy Corp	Pair Corr
0.98	DNN	Denison Mines Corp Aggressive Push	Pair Corr
0.88	LEU	Centrus Energy	Pair Corr
0.96	NXE	NexGen Energy	Pair Corr
0.99	UEC	Uranium Energy Corp	Pair Corr
0.83	URG	Ur Energy	Pair Corr
0.94	UROY	Uranium Royalty Corp	Pair Corr
0.95	UUUU	Energy Fuels	Pair Corr
0.69	AE	Adams Resources Energy	Pair Corr
0.76	AM	Antero Midstream Partners	Pair Corr
0.61	AR	Antero Resources Corp	Pair Corr
0.86	EE	Excelerate Energy	Pair Corr
0.66	ET	Energy Transfer LP Aggressive Push	Pair Corr
0.69	HP	Helmerich and Payne	Pair Corr
0.61	NC	NACCO Industries	Pair Corr
0.79	TS	Tenaris SA ADR Sell-off Trend	Pair Corr
0.67	DLNG	Dynagas LNG Partners Earnings Call This Week	Pair Corr
0.82	DMLP	Dorchester Minerals	Pair Corr
0.83	VNOM	Viper Energy Ut	Pair Corr
0.77	EFXT	Enerflex	Pair Corr

Moving against Cameco Stock

0.76	EC	Ecopetrol SA ADR	Pair Corr
0.66	DINO	HF Sinclair Corp	Pair Corr
0.64	BP	BP PLC ADR	Pair Corr
0.63	DK	Delek Energy	Pair Corr
0.43	E	Eni SpA ADR	Pair Corr
0.59	VIVK	Vivakor	Pair Corr
0.55	SD	SandRidge Energy	Pair Corr
0.49	NR	Newpark Resources	Pair Corr
0.46	NE	Noble plc	Pair Corr

Related Correlations Analysis

	UUUU	NXE	UEC	URG	DNN	EU
UUUU		0.92	0.96	0.8	0.96	0.56	UUUU
NXE	0.92		0.95	0.86	0.96	0.57	NXE
UEC	0.96	0.95		0.83	0.98	0.64	UEC
URG	0.8	0.86	0.83		0.85	0.62	URG
DNN	0.96	0.96	0.98	0.85		0.61	DNN
EU	0.56	0.57	0.64	0.62	0.61		EU
	UUUU	NXE	UEC	URG	DNN	EU

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Risk-Adjusted Indicators

There is a big difference between Cameco Stock performing well and Cameco Corp 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 Cameco Corp'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
UUUU	3.25	0.47	0.15	0.36	3.40	(3.89)	7.07	(5.35)	22.36
NXE	2.35	0.55	0.16	(5.12)	2.28	(2.85)	6.94	(4.56)	19.63
UEC	3.54	0.63	0.20	0.36	3.25	(4.39)	11.59	(5.58)	22.80
URG	2.47	0.49	0.11	(0.43)	2.46	(3.13)	6.40	(4.32)	19.23
DNN	2.91	0.55	0.18	0.49	2.56	(3.88)	6.96	(4.46)	22.38
EU	3.05	0.08	0.06	0.13	3.31	(3.67)	6.31	(4.62)	23.30

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