Coeur Mining Correlations

CDE Stock

USD 6.18 0.01 0.16%

The current 90-days correlation between Coeur Mining and Equinox Gold Corp is 0.78 (i.e., Poor diversification). The correlation of Coeur Mining 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.

Coeur Mining Correlation With Market

Significant diversification

The correlation between Coeur Mining and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Coeur Mining 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 Coeur Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Coeur Stock refer to our How to Trade Coeur Stock guide.

Moving together with Coeur Stock

0.72	AG	First Majestic Silver Buyout Trend	Pair Corr
0.72	AU	AngloGold Ashanti plc	Pair Corr
0.81	NG	NovaGold Resources Earnings Call This Week	Pair Corr
0.73	OR	Osisko Gold Ro	Pair Corr
0.63	SA	Seabridge Gold	Pair Corr
0.72	AEM	Agnico Eagle Mines	Pair Corr
0.69	AGI	Alamos Gold	Pair Corr
0.63	CLF	Cleveland Cliffs Aggressive Push	Pair Corr
0.77	EGO	Eldorado Gold Corp	Pair Corr
0.76	EQX	Equinox Gold Corp	Pair Corr
0.88	FSM	Fortuna Silver Mines	Pair Corr
0.65	GFI	Gold Fields	Pair Corr
0.81	HBM	Hudbay Minerals	Pair Corr
0.65	HMY	Harmony Gold Mining	Pair Corr

Moving against Coeur Stock

0.55	MSB	Mesabi Trust	Pair Corr
0.39	HLP	Hongli Group Ordinary	Pair Corr

Related Correlations Analysis

	EQX	BTG	SAND	PAAS	AEM	WPM	NEM	KGC	GFI	IAG
EQX		0.38	0.49	0.59	0.72	0.49	0.47	0.79	0.51	0.55	EQX
BTG	0.38		0.85	0.8	0.57	0.89	0.87	0.59	0.9	0.34	BTG
SAND	0.49	0.85		0.79	0.78	0.82	0.71	0.76	0.88	0.53	SAND
PAAS	0.59	0.8	0.79		0.78	0.92	0.68	0.75	0.84	0.7	PAAS
AEM	0.72	0.57	0.78	0.78		0.75	0.43	0.85	0.71	0.81	AEM
WPM	0.49	0.89	0.82	0.92	0.75		0.71	0.65	0.84	0.58	WPM
NEM	0.47	0.87	0.71	0.68	0.43	0.71		0.56	0.86	0.25	NEM
KGC	0.79	0.59	0.76	0.75	0.85	0.65	0.56		0.8	0.73	KGC
GFI	0.51	0.9	0.88	0.84	0.71	0.84	0.86	0.8		0.55	GFI
IAG	0.55	0.34	0.53	0.7	0.81	0.58	0.25	0.73	0.55		IAG
	EQX	BTG	SAND	PAAS	AEM	WPM	NEM	KGC	GFI	IAG

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Risk-Adjusted Indicators

There is a big difference between Coeur Stock performing well and Coeur Mining 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 Coeur Mining'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
EQX	2.76	0.06	0.02	(1.74)	3.24	(3.32)	5.98	(4.48)	21.93
BTG	1.84	(0.44)	0.00	3.55	0.00	0.00	3.68	(4.09)	10.01
SAND	1.58	(0.04)	0.00	(0.25)	0.00	0.00	3.25	(3.64)	14.73
PAAS	2.11	(0.02)	0.00	0.06	0.00	0.00	5.69	(3.94)	16.69
AEM	1.61	0.11	0.05	1.57	1.94	(1.83)	3.76	(3.06)	11.66
WPM	1.58	(0.07)	0.00	(0.23)	0.00	0.00	3.25	(4.25)	10.53
NEM	1.59	(0.37)	0.00	(0.66)	0.00	0.00	3.01	(3.30)	16.68
KGC	2.11	0.10	0.03	0.27	2.84	(2.15)	5.37	(4.03)	18.27
GFI	2.00	(0.01)	0.00	(0.02)	2.37	(2.45)	4.52	(3.57)	13.86
IAG	2.68	0.24	0.08	(28.80)	2.96	(3.10)	6.95	(4.33)	25.09

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