Sprott Nickel Correlations
| NIKL Etf | 12.07 0.24 2.03% |
The current 90-days correlation between Sprott Nickel Miners and Sprott Junior Uranium is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sprott Nickel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Nickel Miners moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Sprott Nickel Correlation With Market
Modest diversification
The correlation between Sprott Nickel Miners and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Nickel Miners and DJI in the same portfolio, assuming nothing else is changed.
Sprott |
Moving together with Sprott Etf
| 0.73 | EV | Mast Global Battery | PairCorr |
| 0.86 | XLB | Materials Select Sector | PairCorr |
| 0.71 | VAW | Vanguard Materials Index | PairCorr |
| 0.72 | MOO | VanEck Agribusiness ETF | PairCorr |
| 0.8 | FXZ | First Trust Materials | PairCorr |
| 0.84 | IYM | iShares Basic Materials | PairCorr |
| 0.61 | PWER | Macquarie ETF Trust | PairCorr |
| 0.8 | INOV | Innovator ETFs Trust | PairCorr |
| 0.75 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.76 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
Moving against Sprott Etf
| 0.37 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
Related Correlations Analysis
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