Comstock Mining Correlations

LODE Stock

USD 4.42 0.17 3.70%

The current 90-days correlation between Comstock Mining and Star Holdings is 0.12 (i.e., Average diversification). The correlation of Comstock Mining 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.

Comstock Mining Correlation With Market

Poor diversification

The correlation between Comstock Mining 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 Comstock Mining and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Comstock Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Comstock Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

For information on how to trade Comstock Stock refer to our How to Trade Comstock Stock guide.

Moving together with Comstock Stock

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

Moving against Comstock Stock

0.57	GML	Gateway Mining	Pair Corr
0.48	AUEN	Golden Sky Minerals	Pair Corr
0.4	LCY	Legacy Iron Ore	Pair Corr

Related Correlations Analysis

	STHO	ASPS	AEI	AXR	OPAD	LPA	CHMI	GPMT	RFL	FTHM
STHO		-0.58	0.54	0.01	-0.38	-0.19	0.75	-0.61	-0.28	0.08	STHO
ASPS	-0.58		-0.44	0.64	0.48	0.57	-0.82	0.74	0.3	0.51	ASPS
AEI	0.54	-0.44		-0.06	0.04	-0.34	0.47	-0.36	0.21	0.04	AEI
AXR	0.01	0.64	-0.06		0.42	0.64	-0.4	0.51	0.38	0.88	AXR
OPAD	-0.38	0.48	0.04	0.42		0.66	-0.61	0.55	0.32	0.35	OPAD
LPA	-0.19	0.57	-0.34	0.64	0.66		-0.59	0.56	0.15	0.47	LPA
CHMI	0.75	-0.82	0.47	-0.4	-0.61	-0.59		-0.74	-0.31	-0.21	CHMI
GPMT	-0.61	0.74	-0.36	0.51	0.55	0.56	-0.74		0.42	0.31	GPMT
RFL	-0.28	0.3	0.21	0.38	0.32	0.15	-0.31	0.42		0.44	RFL
FTHM	0.08	0.51	0.04	0.88	0.35	0.47	-0.21	0.31	0.44		FTHM
	STHO	ASPS	AEI	AXR	OPAD	LPA	CHMI	GPMT	RFL	FTHM

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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

FTHM	+ 0.88	AXR
CHMI	+ 0.75	STHO
GPMT	+ 0.74	ASPS
LPA	+ 0.66	OPAD
AXR	+ 0.64	ASPS
LPA	+ 0.64	AXR

High negative correlations

CHMI	- 0.82	ASPS
GPMT	- 0.74	CHMI
CHMI	- 0.61	OPAD
GPMT	- 0.61	STHO
CHMI	- 0.59	LPA
ASPS	- 0.58	STHO

Risk-Adjusted Indicators

There is a big difference between Comstock Stock performing well and Comstock Mining 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 Comstock Mining'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
STHO	1.74	0.07	0.03	0.13	2.24	(1.84)	3.91	(2.63)	7.69
ASPS	3.05	(0.98)	0.00	2.11	0.00	0.00	4.77	(8.48)	19.17
AEI	5.13	0.30	0.05	0.22	6.40	(5.74)	11.73	(12.70)	42.08
AXR	1.87	(0.30)	0.00	(0.15)	0.00	0.00	3.56	(4.51)	13.12
OPAD	5.73	(1.00)	0.00	(2.47)	0.00	0.00	9.92	(12.42)	62.80
LPA	3.44	(0.06)	0.00	0.14	0.00	0.00	7.04	(8.39)	23.65
CHMI	1.54	0.16	0.10	0.20	1.46	(1.95)	3.52	(2.26)	9.35
GPMT	1.81	(0.27)	0.00	(0.22)	0.00	0.00	3.00	(3.38)	15.62
RFL	1.98	(0.12)	0.00	0.33	0.00	0.00	4.92	(3.17)	31.43
FTHM	4.60	(0.36)	0.00	(0.07)	0.00	0.00	10.38	(8.91)	32.95

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