Collective Mining Correlations

CNL Stock

20.76 0.54 2.67%

The current 90-days correlation between Collective Mining and New Found Gold is 0.48 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Collective Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Collective Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Collective Mining Correlation With Market

Poor diversification

The correlation between Collective Mining and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Collective Mining and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Collective Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Collective 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 inflation.

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

Moving together with Collective Stock

0.82	AACA	AALBERTS IND	Pair Corr
0.81	CAV	Carnavale Resources Split	Pair Corr
0.63	C9F	CHIPOTLE MEXICAN	Pair Corr
0.72	VVDH	VEOLIA ENV SP	Pair Corr
0.78	C9F	CHIPOTLE MEXICAN	Pair Corr
0.78	21L	Alphamin Resources Corp	Pair Corr
0.68	RMY	RAMSAY HEALTH CARE	Pair Corr
0.66	FR7	Fast Retailing	Pair Corr
0.69	CVLC	VALE N1	Pair Corr
0.79	CWN	CROWN HOLDINGS	Pair Corr
0.86	OTP	OTP Bank Nyrt Earnings Call This Week	Pair Corr
0.74	A8D	AB SCIENCE	Pair Corr
0.64	PF8	European Lithium	Pair Corr
0.85	DC	Dakota Gold Corp	Pair Corr
0.75	IE	Ivanhoe Electric Earnings Call This Week	Pair Corr
0.89	DEZ	Deutz AG	Pair Corr
0.68	2TU	Taruga Minerals	Pair Corr

Moving against Collective Stock

0.81	6WX	CN LONGYUAN POWER	Pair Corr
0.64	VA7A	VERISK ANLYTCS A	Pair Corr
0.58	6RC	REPROCELL	Pair Corr
0.94	SON1	Sony Group Corp	Pair Corr
0.85	GEO	Empire Metals Limited	Pair Corr
0.78	UMD	UMT United Mobility	Pair Corr
0.71	BF5B	BROWN NON VTG Earnings Call This Week	Pair Corr
0.53	EO5	EOG RESOURCES	Pair Corr

Related Correlations Analysis

	NFGC	ODV	IDR	NVAWW	RYAM	CMCL	NB	HYMC	THM
NFGC		0.45	0.64	0.5	0.32	0.21	0.5	0.52	0.37	NFGC
ODV	0.45		0.3	0.38	0.4	0.35	0.09	0.5	0.69	ODV
IDR	0.64	0.3		0.32	-0.01	0.09	0.19	0.16	0.05	IDR
NVAWW	0.5	0.38	0.32		0.43	0.18	0.38	0.52	0.47	NVAWW
RYAM	0.32	0.4	-0.01	0.43		0.64	0.41	0.83	0.8	RYAM
CMCL	0.21	0.35	0.09	0.18	0.64		0.22	0.71	0.69	CMCL
NB	0.5	0.09	0.19	0.38	0.41	0.22		0.3	0.21	NB
HYMC	0.52	0.5	0.16	0.52	0.83	0.71	0.3		0.9	HYMC
THM	0.37	0.69	0.05	0.47	0.8	0.69	0.21	0.9		THM
	NFGC	ODV	IDR	NVAWW	RYAM	CMCL	NB	HYMC	THM

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

THM	+ 0.9	HYMC
HYMC	+ 0.83	RYAM
THM	+ 0.8	RYAM
HYMC	+ 0.71	CMCL
THM	+ 0.69	ODV
THM	+ 0.69	CMCL

High negative correlations

RYAM

- 0.01

IDR

Risk-Adjusted Indicators

There is a big difference between Collective Stock performing well and Collective 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 Collective 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
NFGC	3.63	0.71	0.11	(1.85)	4.57	(3.73)	7.25	(9.66)	30.08
ODV	2.76	0.74	0.13	(0.68)	3.51	(2.95)	7.99	(6.23)	22.36
IDR	4.43	0.60	0.09	(16.32)	5.37	(4.42)	8.21	(9.31)	23.74
NVAWW	14.66	4.27	0.32	1.79	10.91	(18.24)	39.00	(22.30)	193.57
RYAM	3.15	1.27	0.34	(0.48)	2.18	(4.27)	8.88	(4.00)	28.05
CMCL	3.66	0.49	0.05	(0.43)	6.18	(3.28)	7.27	(8.85)	29.10
NB	5.25	0.13	0.00	(0.12)	6.66	(5.33)	12.26	(11.51)	35.70
HYMC	6.94	2.96	0.38	(33.33)	5.54	(7.88)	21.07	(11.53)	67.66
THM	4.81	1.49	0.25	(1.37)	4.69	(6.53)	13.61	(9.13)	29.38

Collective Mining Corporate Executives

Elected by the shareholders, the Collective Mining's board of directors comprises two types of representatives: Collective Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Collective. The board's role is to monitor Collective Mining's management team and ensure that shareholders' interests are well served. Collective Mining's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Collective Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.

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