Metalla Royalty Correlations

MTA Stock

USD 3.13 0.03 0.97%

The current 90-days correlation between Metalla Royalty Streaming and McEwen Mining is 0.65 (i.e., Poor diversification). The correlation of Metalla Royalty 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.

Metalla Royalty Correlation With Market

Significant diversification

The correlation between Metalla Royalty Streaming and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Metalla Royalty Streaming and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Metalla Royalty Streaming. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Metalla Stock

0.72	HL	Hecla Mining	Pair Corr
0.79	VOXR	Vox Royalty Corp	Pair Corr
0.92	ASM	Avino Silver Gold	Pair Corr
0.78	EXK	Endeavour Silver Corp	Pair Corr
0.79	MUX	McEwen Mining	Pair Corr
0.77	PLG	Platinum Group Metals	Pair Corr
0.88	GATO	Gatos Silver	Pair Corr
0.85	ITRG	Integra Resources Corp	Pair Corr
0.69	LODE	Comstock Mining	Pair Corr
0.71	PPTA	Perpetua Resources Corp	Pair Corr
0.63	SBSW	Sibanye Gold	Pair Corr
0.81	SILV	SilverCrest Metals	Pair Corr
0.81	TFPM	Triple Flag Precious	Pair Corr
0.85	AG	First Majestic Silver	Pair Corr
0.73	IE	Ivanhoe Electric	Pair Corr
0.61	MP	MP Materials Corp	Pair Corr
0.85	OR	Osisko Gold Ro	Pair Corr

Moving against Metalla Stock

0.57	NORNQ	Noranda Aluminum Holding	Pair Corr
0.38	MKDTY	Molecular Data	Pair Corr

Related Correlations Analysis

	TFPM	EXK	SILV	GATO	HL	MUX	ASM	NEWP	VOXR
TFPM		0.71	0.76	0.81	0.68	0.71	0.85	0.82	0.6	TFPM
EXK	0.71		0.91	0.96	0.39	0.48	0.88	0.85	0.6	EXK
SILV	0.76	0.91		0.94	0.56	0.63	0.88	0.8	0.66	SILV
GATO	0.81	0.96	0.94		0.6	0.63	0.92	0.85	0.7	GATO
HL	0.68	0.39	0.56	0.6		0.9	0.66	0.51	0.81	HL
MUX	0.71	0.48	0.63	0.63	0.9		0.79	0.68	0.84	MUX
ASM	0.85	0.88	0.88	0.92	0.66	0.79		0.93	0.8	ASM
NEWP	0.82	0.85	0.8	0.85	0.51	0.68	0.93		0.71	NEWP
VOXR	0.6	0.6	0.66	0.7	0.81	0.84	0.8	0.71		VOXR
	TFPM	EXK	SILV	GATO	HL	MUX	ASM	NEWP	VOXR

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Risk-Adjusted Indicators

There is a big difference between Metalla Stock performing well and Metalla Royalty 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 Metalla Royalty'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
TFPM	1.45	(0.01)	(0.04)	0.11	1.90	(1.50)	3.53	(3.15)	10.26
EXK	3.24	0.51	0.13	1.13	3.08	(4.01)	7.74	(4.91)	21.38
SILV	2.89	0.23	0.07	0.41	2.88	(3.52)	8.37	(4.82)	16.03
GATO	3.05	0.39	0.09	3.48	2.81	(3.43)	7.11	(5.14)	20.65
HL	2.43	(0.19)	0.00	(0.08)	0.00	0.00	5.92	(4.83)	14.22
MUX	2.33	(0.23)	0.00	(0.21)	0.00	0.00	5.60	(5.30)	15.30
ASM	3.17	0.19	0.04	0.35	3.77	(3.57)	9.09	(6.03)	21.90
NEWP	3.03	0.05	0.04	0.15	3.07	(4.25)	6.77	(4.49)	24.14
VOXR	1.64	0.02	(0.02)	0.16	1.90	(1.89)	3.77	(3.27)	10.79

Metalla Royalty Corporate Executives

Elected by the shareholders, the Metalla Royalty's board of directors comprises two types of representatives: Metalla Royalty inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Metalla. The board's role is to monitor Metalla Royalty's management team and ensure that shareholders' interests are well served. Metalla Royalty's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Metalla Royalty's outside directors are responsible for providing unbiased perspectives on the board's policies.

	William Tsang	Chief Financial Officer	Profile
	Bill Tsang	Chief Financial Officer	Profile

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