Gold Resource Correlations

GORO Stock

USD 1.61 0.22 15.83%

The current 90-days correlation between Gold Resource and Namib Minerals Ordinary is -0.19 (i.e., Good diversification). 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

Poor diversification

The correlation between Gold Resource and DJI is 0.7 (i.e., Poor 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.

Build AI portfolio with Gold Stock

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 main economic indicators.

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

Moving together with Gold Stock

0.74	B	Barrick Mining Symbol Change	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.79	AP	Ampco Pittsburgh	Pair Corr
0.77	AU	AngloGold Ashanti plc	Pair Corr
0.91	HL	Hecla Mining Aggressive Push	Pair Corr
0.95	OR	Osisko Gold Ro	Pair Corr
0.86	TX	Ternium SA ADR	Pair Corr
0.79	WS	Worthington Steel	Pair Corr
0.85	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.87	WPM	Wheaton Precious Metals	Pair Corr
0.75	KTN	Kootenay Silver	Pair Corr
0.68	300337	Yinbang Clad Material	Pair Corr
0.92	MKO	Mako Mining Corp	Pair Corr
0.81	CTM	Centaurus Metals	Pair Corr
0.68	QTWO	Q2 Metals Corp Earnings Call This Week	Pair Corr
0.75	ROS	Roscan Gold Corp	Pair Corr
0.77	RND	Rand Mining	Pair Corr
0.76	POL	Polymetals Resources	Pair Corr
0.73	603969	Tianjin Silvery Dragon	Pair Corr
0.82	III	Imperial Metals	Pair Corr
0.82	CCM	Canagold Resources	Pair Corr
0.92	AEM	Agnico Eagle Mines	Pair Corr
0.91	CDE	Coeur Mining Aggressive Push	Pair Corr
0.8	CMC	Commercial Metals	Pair Corr
0.84	DRD	DRDGOLD Limited ADR	Pair Corr
0.68	EQX	Equinox Gold Corp Aggressive Push	Pair Corr
0.8	ERO	Ero Copper Corp Buyout Trend	Pair Corr
0.94	EXK	Endeavour Silver Corp Aggressive Push	Pair Corr
0.86	FCX	Freeport McMoran Copper	Pair Corr
0.91	FNV	Franco Nevada	Pair Corr
0.78	FSM	Fortuna Silver Mines Aggressive Push	Pair Corr
0.91	GFI	Gold Fields	Pair Corr
0.86	GGB	Gerdau SA ADR Aggressive Push	Pair Corr

Moving against Gold Stock

0.31

GML

Gateway Mining

Pair Corr

Related Correlations Analysis

	NAMM	GRO	ATLX	PZG	NEXM	FEAM	FURY	ORGN	ALTO	LGO
NAMM		0.62	0.49	0.15	0.51	0.53	0.31	0.46	-0.47	0.41	NAMM
GRO	0.62		0.78	0.28	0.57	0.52	0.53	0.29	-0.35	0.72	GRO
ATLX	0.49	0.78		0.41	0.61	0.37	0.49	0.05	-0.16	0.69	ATLX
PZG	0.15	0.28	0.41		-0.05	-0.47	0.64	-0.66	0.61	0.38	PZG
NEXM	0.51	0.57	0.61	-0.05		0.64	0.46	0.32	-0.44	0.56	NEXM
FEAM	0.53	0.52	0.37	-0.47	0.64		-0.03	0.86	-0.84	0.28	FEAM
FURY	0.31	0.53	0.49	0.64	0.46	-0.03		-0.36	0.31	0.67	FURY
ORGN	0.46	0.29	0.05	-0.66	0.32	0.86	-0.36		-0.85	-0.09	ORGN
ALTO	-0.47	-0.35	-0.16	0.61	-0.44	-0.84	0.31	-0.85		-0.18	ALTO
LGO	0.41	0.72	0.69	0.38	0.56	0.28	0.67	-0.09	-0.18		LGO
	NAMM	GRO	ATLX	PZG	NEXM	FEAM	FURY	ORGN	ALTO	LGO

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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

ORGN	+ 0.86	FEAM
ATLX	+ 0.78	GRO
LGO	+ 0.72	GRO
LGO	+ 0.69	ATLX
LGO	+ 0.67	FURY
FURY	+ 0.64	PZG

High negative correlations

ALTO	- 0.85	ORGN
ALTO	- 0.84	FEAM
ORGN	- 0.66	PZG
FEAM	- 0.47	PZG
ALTO	- 0.47	NAMM
ALTO	- 0.44	NEXM

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
NAMM	8.17	1.13	0.22	0.29	5.73	(17.28)	10.67	(10.71)	46.98
GRO	3.58	0.07	0.03	0.10	4.28	(3.70)	6.53	(6.56)	16.70
ATLX	4.38	0.03	0.01	0.08	5.68	(4.40)	8.66	(9.65)	22.31
PZG	3.34	0.86	0.19	(0.80)	3.14	(4.25)	11.11	(4.90)	19.02
NEXM	3.16	(0.29)	0.00	(0.53)	0.00	0.00	6.52	(6.60)	15.19
FEAM	4.75	(0.73)	0.00	(1.07)	0.00	0.00	8.84	(9.72)	25.12
FURY	3.52	0.26	0.05	0.33	3.89	(4.64)	9.09	(6.49)	27.18
ORGN	4.74	(1.97)	0.00	(0.63)	0.00	0.00	7.14	(8.70)	22.98
ALTO	4.14	1.52	0.36	7.99	3.25	(5.50)	13.41	(6.27)	32.45
LGO	3.80	0.02	0.03	0.08	4.34	(4.25)	9.17	(6.80)	20.11

Gold Resource Corporate Management

Armando PEng	Chief Officer	Profile
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

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