Nouveau Monde Correlations

NMG Stock

USD 1.93 0.12 5.85%

The current 90-days correlation between Nouveau Monde Graphite and Mason Graphite is 0.22 (i.e., Modest diversification). The correlation of Nouveau Monde 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.

Nouveau Monde Correlation With Market

Significant diversification

The correlation between Nouveau Monde Graphite and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nouveau Monde Graphite 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 Nouveau Monde Graphite. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Nouveau Stock

0.61	NB	NioCorp Developments	Pair Corr
0.7	VZLA	Vizsla Resources Corp	Pair Corr
0.89	NAK	Northern Dynasty Minerals	Pair Corr
0.61	SKE	Skeena Resources	Pair Corr
0.8	TMC	TMC the metals	Pair Corr
0.85	WWR	Westwater Resources	Pair Corr
0.79	LITM	Snow Lake Resources	Pair Corr
0.8	TMCWW	TMC the metals	Pair Corr
0.67	CRMLW	Critical Metals Corp	Pair Corr
0.61	UAMY	United States Antimony	Pair Corr

Moving against Nouveau Stock

0.8	PLL	Piedmont Lithium Earnings Call This Week	Pair Corr
0.69	BHP	BHP Group Limited Earnings Call Tomorrow	Pair Corr
0.68	ELBM	Electra Battery Materials	Pair Corr
0.68	LAR	Lithium Argentina Symbol Change	Pair Corr
0.64	LAC	Lithium Americas Corp	Pair Corr
0.63	LZM	Lifezone Metals	Pair Corr
0.61	GSM	Ferroglobe PLC Earnings Call This Week	Pair Corr
0.59	VALE	Vale SA ADR Earnings Call This Week	Pair Corr
0.51	FURY	Fury Gold Mines	Pair Corr
0.49	LGO	Largo Resources	Pair Corr
0.42	CMP	Compass Minerals Int	Pair Corr
0.38	RIO	Rio Tinto ADR	Pair Corr
0.79	MTRN	Materion	Pair Corr
0.79	NEXA	Nexa Resources SA	Pair Corr
0.63	SGML	Sigma Lithium Resources	Pair Corr
0.63	TECK	Teck Resources Earnings Call This Week	Pair Corr
0.49	WRN	Western Copper	Pair Corr
0.44	IONR	ioneer American Earnings Call This Week	Pair Corr
0.33	SLI	Standard Lithium	Pair Corr
0.31	USGOW	US GoldMining Warrant	Pair Corr
0.85	IE	Ivanhoe Electric	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	MGPHF	NGPHF	GPHOF	LMRMF	IIDDY	SYAAF	FCSMF	ALTAF	VULMF	RFLXF
MGPHF		0.38	-0.07	0.0	-0.59	-0.13	-0.01	-0.17	0.06	0.44	MGPHF
NGPHF	0.38		-0.13	-0.01	-0.59	-0.37	0.18	0.41	0.12	0.17	NGPHF
GPHOF	-0.07	-0.13		0.53	-0.3	0.5	0.61	0.17	0.17	0.59	GPHOF
LMRMF	0.0	-0.01	0.53		-0.08	0.27	0.6	0.03	0.53	0.34	LMRMF
IIDDY	-0.59	-0.59	-0.3	-0.08		0.08	-0.31	-0.01	-0.09	-0.68	IIDDY
SYAAF	-0.13	-0.37	0.5	0.27	0.08		0.2	0.27	0.16	0.25	SYAAF
FCSMF	-0.01	0.18	0.61	0.6	-0.31	0.2		0.17	0.36	0.46	FCSMF
ALTAF	-0.17	0.41	0.17	0.03	-0.01	0.27	0.17		0.03	-0.05	ALTAF
VULMF	0.06	0.12	0.17	0.53	-0.09	0.16	0.36	0.03		0.12	VULMF
RFLXF	0.44	0.17	0.59	0.34	-0.68	0.25	0.46	-0.05	0.12		RFLXF
	MGPHF	NGPHF	GPHOF	LMRMF	IIDDY	SYAAF	FCSMF	ALTAF	VULMF	RFLXF

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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

FCSMF	+ 0.61	GPHOF
FCSMF	+ 0.6	LMRMF
RFLXF	+ 0.59	GPHOF
LMRMF	+ 0.53	GPHOF
VULMF	+ 0.53	LMRMF
SYAAF	+ 0.5	GPHOF

High negative correlations

RFLXF	- 0.68	IIDDY
IIDDY	- 0.59	NGPHF
IIDDY	- 0.59	MGPHF
SYAAF	- 0.37	NGPHF
FCSMF	- 0.31	IIDDY
IIDDY	- 0.3	GPHOF

Risk-Adjusted Indicators

There is a big difference between Nouveau Stock performing well and Nouveau Monde 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 Nouveau Monde'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
MGPHF	7.46	0.46	0.06	0.93	7.52	(9.59)	20.12	(11.20)	44.87
NGPHF	8.56	1.33	0.11	(3.49)	9.07	(11.40)	22.22	(21.54)	63.08
GPHOF	3.16	0.25	0.05	1.35	3.40	(4.79)	8.16	(7.02)	22.66
LMRMF	4.72	0.49	0.07	0.90	5.13	(6.49)	12.66	(10.11)	37.14
IIDDY	0.48	(0.26)	0.00	(4.53)	0.00	0.00	0.00	0.00	11.62
SYAAF	4.73	(0.11)	0.00	(1.71)	0.00	0.00	9.09	(8.33)	38.33
FCSMF	7.47	0.83	0.05	0.33	7.75	(18.45)	20.00	(16.67)	45.83
ALTAF	21.41	6.24	0.11	1.06	18.54	(75.85)	96.97	(56.92)	261.02
VULMF	8.90	2.24	0.10	0.39	8.14	(34.84)	26.14	(22.71)	143.45
RFLXF	13.99	2.56	0.16	(1.32)	13.24	(16.81)	39.64	(23.51)	102.15

Nouveau Monde Corporate Management

Arne Frandsen	Chairman of the Board	Profile
James Scarlett	Independent Director	Profile
Patrice Boulanger	Marketing Sales	Profile
Andrew Willis	Director	Profile

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