Fury Gold Correlations

FURY Stock

USD 0.41 0.01 2.50%

The current 90-days correlation between Fury Gold Mines and Nevada King Gold is 0.23 (i.e., Modest diversification). The correlation of Fury Gold is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Fury Gold Correlation With Market

Significant diversification

The correlation between Fury Gold Mines and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fury Gold Mines 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 Fury Gold Mines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Fury Stock

0.65	VZLA	Vizsla Resources Corp	Pair Corr
0.89	EMX	EMX Royalty Corp	Pair Corr
0.86	SKE	Skeena Resources	Pair Corr
0.78	IONR	ioneer American	Pair Corr
0.61	LAAC	Lithium Americas Corp	Pair Corr
0.62	NEXA	Nexa Resources SA	Pair Corr

Moving against Fury Stock

0.48	BYU	BAIYU Holdings	Pair Corr
0.67	ERLFF	Entree Resources	Pair Corr
0.37	KNBWY	Kirin Holdings	Pair Corr
0.35	TMCWW	TMC the metals	Pair Corr
0.32	MTRN	Materion	Pair Corr

Related Correlations Analysis

	EMX	WRN	NKGFF	AAGFF	VZLA	NTCPF	TMQ	IPX	MTRN	GSM
EMX		0.24	0.25	0.82	0.69	0.0	-0.09	0.29	-0.21	0.28	EMX
WRN	0.24		0.13	0.1	-0.22	-0.01	-0.08	0.25	0.01	0.21	WRN
NKGFF	0.25	0.13		-0.07	0.44	0.42	-0.71	-0.37	-0.26	0.27	NKGFF
AAGFF	0.82	0.1	-0.07		0.5	-0.21	0.18	0.51	-0.25	0.17	AAGFF
VZLA	0.69	-0.22	0.44	0.5		0.23	-0.39	-0.2	-0.33	0.23	VZLA
NTCPF	0.0	-0.01	0.42	-0.21	0.23		-0.51	-0.5	-0.1	0.15	NTCPF
TMQ	-0.09	-0.08	-0.71	0.18	-0.39	-0.51		0.6	0.53	-0.07	TMQ
IPX	0.29	0.25	-0.37	0.51	-0.2	-0.5	0.6		0.07	0.26	IPX
MTRN	-0.21	0.01	-0.26	-0.25	-0.33	-0.1	0.53	0.07		-0.01	MTRN
GSM	0.28	0.21	0.27	0.17	0.23	0.15	-0.07	0.26	-0.01		GSM
	EMX	WRN	NKGFF	AAGFF	VZLA	NTCPF	TMQ	IPX	MTRN	GSM

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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

AAGFF	+ 0.82	EMX
VZLA	+ 0.69	EMX
IPX	+ 0.6	TMQ
MTRN	+ 0.53	TMQ
IPX	+ 0.51	AAGFF
VZLA	+ 0.5	AAGFF

High negative correlations

TMQ	- 0.71	NKGFF
TMQ	- 0.51	NTCPF
IPX	- 0.5	NTCPF
TMQ	- 0.39	VZLA
IPX	- 0.37	NKGFF
MTRN	- 0.33	VZLA

Risk-Adjusted Indicators

There is a big difference between Fury Stock performing well and Fury 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 Fury 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
EMX	1.66	(0.07)	0.00	(0.08)	0.00	0.00	4.44	(2.99)	9.74
WRN	1.95	(0.10)	(0.03)	0.00	2.76	(2.09)	3.51	(4.31)	20.61
NKGFF	3.99	(0.10)	0.00	0.30	0.00	0.00	8.00	(11.11)	29.72
AAGFF	4.92	0.58	0.06	(0.52)	5.01	(6.51)	10.26	(8.33)	26.99
VZLA	2.88	(0.15)	0.00	(0.07)	0.00	0.00	5.67	(5.13)	19.16
NTCPF	4.33	0.08	0.00	(0.87)	5.35	(5.18)	8.57	(8.57)	37.22
TMQ	4.83	1.10	0.38	0.25	2.72	(9.42)	8.33	(5.47)	89.18
IPX	2.97	0.89	0.26	0.93	2.42	(3.44)	8.90	(5.15)	20.46
MTRN	1.90	(0.24)	(0.03)	0.00	3.04	(1.86)	4.21	(2.83)	16.91
GSM	1.94	(0.08)	(0.01)	0.05	2.35	(2.37)	4.96	(3.58)	17.12

Fury Gold Corporate Management

Stacy Rowa	Chief Officer	Profile
Michael PGeo	Chief Officer	Profile
Lynsey Sherry	CFO Sec	Profile
Natasha Frakes	Manager Communications	Profile
Christian Rios	VP Operations	Profile
Forrester MBA	CEO Director	Profile
Phil Staden	Chief Officer	Profile

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