Caledonia Mining Correlations

CMCL Stock

USD 10.33 0.34 3.40%

The current 90-days correlation between Caledonia Mining and Galiano Gold is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Caledonia Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Caledonia Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Caledonia 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 main economic indicators.

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

Moving together with Caledonia Stock

0.62	MT	ArcelorMittal SA ADR Buyout Trend	Pair Corr
0.65	TX	Ternium SA ADR	Pair Corr
0.68	NUE	Nucor Corp Sell-off Trend	Pair Corr
0.63	SID	Companhia Siderurgica	Pair Corr
0.63	AG	First Majestic Silver	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr
0.73	RS	Reliance Steel Aluminum Earnings Call This Week	Pair Corr
0.73	SA	Seabridge Gold	Pair Corr
0.73	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.75	HYMCL	Hycroft Mining Holding	Pair Corr
0.66	VOXR	Vox Royalty Corp	Pair Corr

Moving against Caledonia Stock

0.37	ZKIN	ZK International	Pair Corr
0.39	BSLKW	Bolt Projects Holdings, Symbol Change	Pair Corr
0.34	FEAM	5E Advanced Materials	Pair Corr

Related Correlations Analysis

	DRD	GAU	MHH	EMX	EQX
DRD		0.05	-0.36	0.51	0.74	DRD
GAU	0.05		-0.12	0.27	-0.27	GAU
MHH	-0.36	-0.12		-0.16	-0.06	MHH
EMX	0.51	0.27	-0.16		0.39	EMX
EQX	0.74	-0.27	-0.06	0.39		EQX
	DRD	GAU	MHH	EMX	EQX

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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

EQX	+ 0.74	DRD
EMX	+ 0.51	DRD
EQX	+ 0.39	EMX
EMX	+ 0.27	GAU
GAU	+ 0.05	DRD

High negative correlations

MHH	- 0.36	DRD
EQX	- 0.27	GAU
EMX	- 0.16	MHH
MHH	- 0.12	GAU
EQX	- 0.06	MHH

Risk-Adjusted Indicators

There is a big difference between Caledonia Stock performing well and Caledonia 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 Caledonia 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
DRD	2.42	0.01	0.00	0.05	3.49	(2.40)	6.58	(5.42)	12.86
GAU	2.53	(0.30)	0.00	(0.40)	0.00	0.00	5.26	(5.51)	13.65
MHH	4.43	0.48	0.10	0.85	4.36	(5.15)	13.20	(7.72)	29.70
EMX	1.29	0.05	0.01	1.18	1.47	(1.87)	3.53	(3.33)	8.15
EQX	2.74	0.28	0.08	12.02	2.95	(3.28)	7.73	(4.43)	17.72

Caledonia Mining Corporate Management

Adam Chester	General Compliance	Profile
Leonet Steyn	Chief Officer	Profile
S Smith	Exec	Profile
Dana BSc	COO Director	Profile
P Human	Exec	Profile
Chester Goodburn	Chief Officer	Profile

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