Eldorado Gold Correlations

EGO Stock

USD 16.66 0.48 2.97%

The current 90-days correlation between Eldorado Gold Corp and Pan American Silver is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eldorado Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eldorado Gold Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Eldorado Gold Correlation With Market

Average diversification

The correlation between Eldorado Gold Corp and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Eldorado Gold 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 Eldorado Gold 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 price.

Moving together with Eldorado Stock

0.85	SA	Seabridge Gold	Pair Corr
0.61	AEM	Agnico Eagle Mines	Pair Corr
0.84	AGI	Alamos Gold	Pair Corr
0.68	CDE	Coeur Mining	Pair Corr
0.66	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.63	FNV	Franco Nevada	Pair Corr
0.64	FSM	Fortuna Silver Mines	Pair Corr
0.75	HMY	Harmony Gold Mining	Pair Corr
0.83	GOLD	Barrick Gold Corp Aggressive Push	Pair Corr
0.62	SAND	Sandstorm Gold	Pair Corr
0.93	CGAU	Centerra Gold	Pair Corr
0.71	AU	AngloGold Ashanti plc	Pair Corr
0.75	CE	Celanese	Pair Corr
0.84	HL	Hecla Mining	Pair Corr

Moving against Eldorado Stock

0.52	KALU	Kaiser Aluminum	Pair Corr
0.42	NC	NACCO Industries	Pair Corr
0.38	CENX	Century Aluminum	Pair Corr
0.38	RS	Reliance Steel Aluminum	Pair Corr

Related Correlations Analysis

	AEM	PAAS	KGC	BTG	RGLD
AEM		0.78	0.78	0.74	0.84	AEM
PAAS	0.78		0.93	0.68	0.92	PAAS
KGC	0.78	0.93		0.76	0.92	KGC
BTG	0.74	0.68	0.76		0.67	BTG
RGLD	0.84	0.92	0.92	0.67		RGLD
	AEM	PAAS	KGC	BTG	RGLD

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Risk-Adjusted Indicators

There is a big difference between Eldorado Stock performing well and Eldorado 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 Eldorado 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
AEM	1.35	0.04	(0.03)	(0.22)	1.77	(1.53)	3.08	(2.69)	11.67
PAAS	2.18	0.06	0.01	0.18	2.29	(2.51)	6.05	(4.04)	14.73
KGC	1.99	0.10	0.01	0.46	2.60	(2.12)	5.41	(3.82)	18.27
BTG	2.09	(0.01)	(0.02)	0.07	2.26	(2.51)	3.90	(4.09)	17.88
RGLD	1.24	0.08	0.01	0.31	1.61	(1.19)	2.44	(2.62)	7.40

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