Osisko Development Correlations

ODV Stock

USD 3.95 0.03 0.77%

The current 90-days correlation between Osisko Development Corp and New Found Gold is 0.58 (i.e., Very weak diversification). The correlation of Osisko Development 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Osisko Development Correlation With Market

Poor diversification

The correlation between Osisko Development Corp and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Osisko Development Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Osisko Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Osisko Development Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Osisko Stock

0.82	DC	Dakota Gold Corp	Pair Corr
0.71	VML	Viscount Mining Corp	Pair Corr
0.64	GM0N	GLOBUS MEDICAL A	Pair Corr
0.64	RSO	Ross Stores	Pair Corr
0.68	MSI	Mitsui Chemicals	Pair Corr
0.68	XCA	CREDIT AGRICOLE	Pair Corr

Moving against Osisko Stock

0.58	ADC	Acdc Metals	Pair Corr
0.55	GEO	Empire Metals Limited	Pair Corr
0.52	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.5	AMY	American Manganese	Pair Corr
0.46	IMI	Infinity Mining	Pair Corr
0.7	EMO	Emerita Resources Corp	Pair Corr
0.67	CE1	CAREER EDUCATION	Pair Corr
0.49	YT2A	ATRESMEDIA	Pair Corr

Related Correlations Analysis

	DC	NFGC	NVAWW	ASTL	IDR	RYAM	HYMC	THM	CMCL	EMX
DC		0.92	0.83	0.83	0.75	0.66	0.85	0.84	0.19	0.55	DC
NFGC	0.92		0.88	0.68	0.81	0.53	0.74	0.68	0.12	0.66	NFGC
NVAWW	0.83	0.88		0.59	0.65	0.52	0.66	0.58	0.03	0.57	NVAWW
ASTL	0.83	0.68	0.59		0.59	0.57	0.62	0.74	0.12	0.41	ASTL
IDR	0.75	0.81	0.65	0.59		0.31	0.51	0.44	0.01	0.8	IDR
RYAM	0.66	0.53	0.52	0.57	0.31		0.86	0.82	0.56	-0.05	RYAM
HYMC	0.85	0.74	0.66	0.62	0.51	0.86		0.92	0.53	0.24	HYMC
THM	0.84	0.68	0.58	0.74	0.44	0.82	0.92		0.47	0.17	THM
CMCL	0.19	0.12	0.03	0.12	0.01	0.56	0.53	0.47		-0.25	CMCL
EMX	0.55	0.66	0.57	0.41	0.8	-0.05	0.24	0.17	-0.25		EMX
	DC	NFGC	NVAWW	ASTL	IDR	RYAM	HYMC	THM	CMCL	EMX

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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

NFGC	+ 0.92	DC
THM	+ 0.92	HYMC
NVAWW	+ 0.88	NFGC
HYMC	+ 0.86	RYAM
HYMC	+ 0.85	DC
THM	+ 0.84	DC

High negative correlations

EMX	- 0.25	CMCL
EMX	- 0.05	RYAM

Risk-Adjusted Indicators

There is a big difference between Osisko Stock performing well and Osisko Development 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 Osisko Development'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
DC	3.17	0.71	0.21	0.51	3.05	(3.70)	9.29	(5.39)	29.80
NFGC	3.66	0.68	0.13	0.55	4.41	(3.78)	7.25	(8.95)	30.08
NVAWW	15.06	5.12	0.37	18.38	10.58	(18.09)	39.00	(22.30)	193.57
ASTL	3.41	0.13	0.06	0.15	3.77	(3.87)	7.14	(6.29)	18.39
IDR	4.64	0.33	0.08	0.23	5.34	(4.66)	9.24	(9.31)	23.74
RYAM	2.38	0.21	0.09	0.20	2.75	(2.83)	6.38	(5.15)	28.05
HYMC	6.73	2.94	0.37	(16.56)	5.38	(7.46)	19.48	(11.53)	67.66
THM	4.70	0.76	0.18	0.47	4.31	(6.69)	13.61	(8.57)	29.38
CMCL	3.48	0.17	0.01	(0.30)	5.47	(3.24)	6.05	(8.12)	29.10
EMX	2.84	0.38	0.08	33.73	3.32	(3.06)	6.54	(5.45)	14.90

Osisko Development Corporate Management

BBA CA	CFO Fin	Profile
Eng BASc	Chief Officer	Profile
Scott PGeo	Vice Exploration	Profile
Sean Eng	NonIndependent CEO	Profile
Martin Menard	VicePres Construction	Profile

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