Nicola Mining Correlations

NIM Stock

CAD 0.81 0.01 1.25%

The current 90-days correlation between Nicola Mining and Frontier Lithium is 0.15 (i.e., Good diversification).Pairwise correlation with sector peers establishes whether the stock offers truly differentiated exposure.

Market Correlation Signal - Nicola Mining

Good diversification

Across the chosen horizon, Nicola Mining and Dow Jones show a correlation of 0.14 and fall into the Good diversification bucket. The overlap area shows the portion of risk diversified away by holding both instruments together.

This dataset outlines how Nicola Mining behaves relative to comparable instruments. All correlation values are derived from historical return data.

Moving Together With Nicola Mining Stock

0.75	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.67	ORE	Orezone Gold Corp Earnings Call This Week	Pair Corr
0.68	URZ	Urz Energy Corp	Pair Corr
0.81	VWA	VOLKSWAGEN CDR	Pair Corr
0.64	UPS	UPS CDR	Pair Corr
0.63	UPS	UPS CDR	Pair Corr
0.88	HD	HOME DEPOT CDR	Pair Corr
0.92	BRK	Berkshire Hathaway CDR	Pair Corr
0.92	BRK	Berkshire Hathaway CDR	Pair Corr

Moving Differently From Nicola Mining Stock

0.76	AMZN	Amazon CDR	Pair Corr
0.76	AMZN	Amazon CDR	Pair Corr
0.73	AML	Argus Metals Corp	Pair Corr
0.68	UNH	UnitedHealth Group CDR	Pair Corr
0.52	FDR	Founders Metals	Pair Corr
0.33	FDY	Faraday Copper Corp Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	DBG	FL	CVV	GPH	GEO	LAM	GLO	MOON
DBG		-0.52	-0.28	-0.57	-0.48	-0.16	0.43	0.81	DBG
FL	-0.52		0.76	0.47	0.64	0.4	0.12	-0.77	FL
CVV	-0.28	0.76		0.58	0.8	0.75	0.29	-0.52	CVV
GPH	-0.57	0.47	0.58		0.61	0.49	-0.41	-0.54	GPH
GEO	-0.48	0.64	0.8	0.61		0.85	0.19	-0.66	GEO
LAM	-0.16	0.4	0.75	0.49	0.85		0.35	-0.36	LAM
GLO	0.43	0.12	0.29	-0.41	0.19	0.35		0.22	GLO
MOON	0.81	-0.77	-0.52	-0.54	-0.66	-0.36	0.22		MOON
	DBG	FL	CVV	GPH	GEO	LAM	GLO	MOON

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

LAM	+ 0.85	GEO
MOON	+ 0.81	DBG
GEO	+ 0.8	CVV
CVV	+ 0.76	FL
LAM	+ 0.75	CVV
GEO	+ 0.64	FL

High negative correlations

MOON	- 0.77	FL
MOON	- 0.66	GEO
GPH	- 0.57	DBG
MOON	- 0.54	GPH
MOON	- 0.52	CVV
FL	- 0.52	DBG

Risk-Adjusted Indicators

Headline performance for Nicola Mining Stock may not fully reflect how the business compares across its competitive set. Reviewing Nicola Mining's risk-adjusted indicators gives a clearer view of whether returns are being earned efficiently. These indicators are quantitative in nature and measure volatility and risk-adjusted expected returns across different positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DBG	5.31	1.47	0.25	-35.50	5.14	-6.15	12.15	-8.40	49.95
FL	2.36	-0.67	0.00	-0.90	0.00	0.00	4.60	-5.21	21.90
CVV	3.84	-0.39	0.00	-0.29	0.00	0.00	6.41	-8.75	29.09
GPH	2.77	-0.65	0.00	-0.70	0.00	0.00	6.84	-7.20	16.05
GEO	1.80	-0.08	0.00	-0.10	0.00	0.00	4.10	-3.67	11.10
LAM	3.40	-0.08	0.00	-0.06	0.00	0.00	7.69	-7.06	23.00
GLO	3.12	0.27	0.07	0.13	2.98	-4.40	7.14	-5.56	16.57
MOON	4.11	1.21	0.28	0.59	3.31	-4.99	12.38	-6.48	30.78

Be Your Own Money Manager

A disciplined portfolio workflow around Nicola Mining tests whether the position strengthens diversification, return efficiency, and aggregate portfolio fit. When applied, optimization turns position sizing and rebalancing into measurable decisions rather than guesswork.

Did You Try This?

Run Idea Breakdown Now

Idea Breakdown

Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes

All Next

Launch Module

Nicola Mining Corporate Management

Governance review matters for Nicola Mining because boards and executives shape oversight, strategic discipline, and how shareholder interests are represented. A disciplined governance review can reveal strengths or weaknesses that may not be obvious in financial ratios alone.

Will Whitty	Vice President of Exploration	Profile
Bill Cawker	Company Secretary	Profile
Vicente Garcia	Senior Geologist	Profile
William Cawker	Company Secretary and Head of IR, Bus. Dev & Corporate affairs	Profile