Centerra Gold Correlations

CG Stock

CAD 21.39 0.05 0.23%

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

Centerra Gold Correlation With Market

Modest diversification

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

The ability to find closely correlated positions to Centerra 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 Centerra 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 Centerra 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 Centerra Gold to buy it.

Moving together with Centerra Stock

0.91	AG	First Majestic Silver	Pair Corr
0.92	ORE	Orezone Gold Corp	Pair Corr
0.77	FDR	Flinders Resources	Pair Corr
0.81	FDY	Faraday Copper Corp	Pair Corr
0.9	BNP	BNP Paribas CDR	Pair Corr
0.93	RY	Royal Bank	Pair Corr
0.71	BMO	Bank of Montreal	Pair Corr
0.78	TD-PFI	Toronto Dominion Bank	Pair Corr
0.64	AX-UN	Artis Real Estate	Pair Corr
0.81	VM	Voyageur Pharmaceuticals	Pair Corr
0.65	ENB-PFU	Enbridge Pref L	Pair Corr
0.75	KTO	K2 Gold	Pair Corr

Moving against Centerra Stock

0.64	AML	Argus Metals Corp	Pair Corr
0.45	INFM	Infinico Metals Corp	Pair Corr
0.39	URZ	Urz Energy Corp	Pair Corr

Related Correlations Analysis

	WDO	SEA	FVI	MX	KNT	PPTA	AAUC	EDR	USA	MAU
WDO		0.7	0.8	0.56	0.8	0.85	0.81	0.92	0.84	0.71	WDO
SEA	0.7		0.89	0.58	0.86	0.67	0.9	0.76	0.79	0.88	SEA
FVI	0.8	0.89		0.58	0.9	0.75	0.89	0.87	0.81	0.87	FVI
MX	0.56	0.58	0.58		0.79	0.48	0.69	0.6	0.68	0.75	MX
KNT	0.8	0.86	0.9	0.79		0.71	0.93	0.84	0.92	0.95	KNT
PPTA	0.85	0.67	0.75	0.48	0.71		0.78	0.83	0.79	0.61	PPTA
AAUC	0.81	0.9	0.89	0.69	0.93	0.78		0.87	0.92	0.94	AAUC
EDR	0.92	0.76	0.87	0.6	0.84	0.83	0.87		0.85	0.8	EDR
USA	0.84	0.79	0.81	0.68	0.92	0.79	0.92	0.85		0.86	USA
MAU	0.71	0.88	0.87	0.75	0.95	0.61	0.94	0.8	0.86		MAU
	WDO	SEA	FVI	MX	KNT	PPTA	AAUC	EDR	USA	MAU

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Risk-Adjusted Indicators

There is a big difference between Centerra Stock performing well and Centerra 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 Centerra 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
WDO	2.22	0.08	0.01	0.22	3.19	(2.19)	4.38	(4.49)	14.12
SEA	2.78	0.26	0.05	0.56	3.87	(2.62)	5.83	(5.70)	18.52
FVI	2.31	0.14	0.04	0.25	2.96	(2.56)	4.66	(4.16)	15.21
MX	1.94	0.39	0.20	0.52	1.56	(2.40)	3.59	(2.78)	21.67
KNT	2.16	0.33	0.07	0.79	3.35	(2.09)	4.25	(4.70)	15.38
PPTA	3.59	0.13	0.03	0.20	4.67	(3.89)	7.44	(7.13)	21.21
AAUC	2.83	0.44	0.09	0.56	4.04	(2.76)	6.35	(5.84)	20.75
EDR	3.71	0.36	0.07	0.55	4.24	(4.06)	9.30	(7.25)	22.32
USA	3.77	0.44	0.09	0.60	4.57	(3.89)	7.96	(6.89)	21.35
MAU	2.45	0.57	0.18	98.90	2.34	(3.05)	6.23	(4.62)	13.13

Be your own money manager

Our tools can tell you how much better you can do entering a position in Centerra 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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