Gold Resource Correlations

GORO Stock

USD 0.17 0.02 13.33%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gold Resource moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gold Resource moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gold Resource Correlation With Market

Average diversification

The correlation between Gold Resource and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gold Resource and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gold Resource. 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.

To learn how to invest in Gold Stock, please use our How to Invest in Gold Resource guide.

Moving together with Gold Stock

0.7	BAK	Braskem SA Class	Pair Corr
0.82	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.64	EGO	Eldorado Gold Corp	Pair Corr
0.65	PFH	Prudential Financial 4125	Pair Corr
0.78	GOLD	Barrick Gold Corp	Pair Corr
0.73	GURE	Gulf Resources	Pair Corr
0.61	AU	AngloGold Ashanti plc	Pair Corr
0.74	CE	Celanese	Pair Corr
0.71	CX	Cemex SAB de Sell-off Trend	Pair Corr
0.64	NB	NioCorp Developments	Pair Corr

Moving against Gold Stock

0.75	KALU	Kaiser Aluminum	Pair Corr
0.6	AUST	Austin Gold Corp	Pair Corr
0.56	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.42	X	United States Steel	Pair Corr
0.36	MAG	MAG Silver Corp Potential Growth	Pair Corr
0.35	ZKIN	ZK International	Pair Corr
0.75	NC	NACCO Industries	Pair Corr
0.58	MP	MP Materials Corp	Pair Corr
0.57	OC	Owens Corning	Pair Corr
0.55	IE	Ivanhoe Electric	Pair Corr
0.52	NX	Quanex Building Products Downward Rally	Pair Corr
0.42	MT	ArcelorMittal SA ADR	Pair Corr
0.38	OR	Osisko Gold Ro	Pair Corr
0.81	WS	Worthington Steel	Pair Corr
0.76	WDFC	WD 40 Company	Pair Corr

Related Correlations Analysis

	IAG	EGO	CDE	AGI	NGD	KGC	HMY
IAG		0.45	0.69	0.61	0.58	0.74	0.72	IAG
EGO	0.45		0.69	0.86	0.71	0.4	0.75	EGO
CDE	0.69	0.69		0.74	0.89	0.63	0.67	CDE
AGI	0.61	0.86	0.74		0.83	0.59	0.85	AGI
NGD	0.58	0.71	0.89	0.83		0.59	0.62	NGD
KGC	0.74	0.4	0.63	0.59	0.59		0.72	KGC
HMY	0.72	0.75	0.67	0.85	0.62	0.72		HMY
	IAG	EGO	CDE	AGI	NGD	KGC	HMY

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Risk-Adjusted Indicators

There is a big difference between Gold Stock performing well and Gold Resource 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 Gold Resource'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
IAG	2.62	0.10	0.00	0.58	3.26	(2.92)	6.95	(4.35)	25.09
EGO	1.90	(0.20)	0.00	(0.59)	0.00	0.00	3.39	(5.22)	12.12
CDE	3.04	0.02	(0.01)	0.14	3.79	(3.25)	9.37	(5.06)	28.59
AGI	1.46	(0.09)	0.00	(2.15)	0.00	0.00	3.14	(3.62)	12.39
NGD	2.48	0.01	(0.01)	0.13	2.93	(2.72)	5.53	(5.00)	17.13
KGC	2.01	0.16	0.02	1.14	2.72	(2.08)	5.41	(4.01)	18.27
HMY	2.67	(0.12)	0.00	(0.45)	0.00	0.00	7.63	(5.89)	17.74

Gold Resource Corporate Management

Alberto Reyes	Chief Officer	Profile
Chet Holyoak	Interim Controller	Profile
Comm BCom	Pres CEO	Profile
Fred PGeo	Resource Geologist	Profile
Steve Donohue	Vice Affairs	Profile
Patrick Frenette	Vice Services	Profile

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