Denison Mines Correlations

DNN Stock

USD 2.36 0.08 3.51%

The current 90-days correlation between Denison Mines Corp and Energy Fuels is 0.8 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Denison Mines moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Denison Mines Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Denison Mines Correlation With Market

Modest diversification

The correlation between Denison Mines Corp and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Denison Mines Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Denison Mines 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 board of governors.

Moving together with Denison Stock

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

Moving against Denison Stock

0.77	EC	Ecopetrol SA ADR	Pair Corr
0.69	DINO	HF Sinclair Corp	Pair Corr
0.69	DK	Delek Energy	Pair Corr
0.65	BP	BP PLC ADR	Pair Corr
0.44	E	Eni SpA ADR	Pair Corr
0.58	SD	SandRidge Energy	Pair Corr
0.53	NE	Noble plc	Pair Corr
0.53	VIVK	Vivakor	Pair Corr
0.45	NR	Newpark Resources	Pair Corr

Related Correlations Analysis

	UUUU	EU	URG	CCJ	UEC	NXE
UUUU		0.56	0.8	0.95	0.96	0.92	UUUU
EU	0.56		0.62	0.66	0.64	0.57	EU
URG	0.8	0.62		0.83	0.83	0.86	URG
CCJ	0.95	0.66	0.83		0.99	0.96	CCJ
UEC	0.96	0.64	0.83	0.99		0.95	UEC
NXE	0.92	0.57	0.86	0.96	0.95		NXE
	UUUU	EU	URG	CCJ	UEC	NXE

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Risk-Adjusted Indicators

There is a big difference between Denison Stock performing well and Denison Mines 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 Denison Mines' 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
EU	3.05	0.08	0.06	0.13	3.31	(3.67)	6.31	(4.62)	23.30
URG	2.47	0.49	0.11	(0.43)	2.46	(3.13)	6.40	(4.32)	19.23
CCJ	2.09	0.49	0.23	0.51	1.85	(2.54)	5.76	(2.99)	12.67
UEC	3.54	0.63	0.20	0.36	3.25	(4.39)	11.59	(5.58)	22.80
NXE	2.35	0.55	0.16	(5.12)	2.28	(2.85)	6.94	(4.56)	19.63

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