Osisko Development Correlations

ODVWZ Stock

0.13 0.00 0.00%

The current 90-days correlation between Osisko Development Corp and Radcom is -0.02 (i.e., Good 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.

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 housing.

Moving together with Osisko Stock

0.61	AA	Alcoa Corp	Pair Corr
0.69	TX	Ternium SA ADR	Pair Corr
0.65	WS	Worthington Steel	Pair Corr
0.61	GGB	Gerdau SA ADR	Pair Corr
0.71	SID	Companhia Siderurgica	Pair Corr
0.75	ASTL	Algoma Steel Group Earnings Call This Week	Pair Corr
0.64	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.68	IE	Ivanhoe Electric	Pair Corr

Moving against Osisko Stock

0.43	CF	CF Industries Holdings Sell-off Trend	Pair Corr
0.4	USAP	Universal Stainless Alloy	Pair Corr
0.32	CX	Cemex SAB de Earnings Call This Week	Pair Corr
0.44	NB	NioCorp Developments	Pair Corr

Related Correlations Analysis

	MPX	CNTA	WDC	ADI	BWA	RDCM	RACE	PCAR
MPX		0.4	0.55	0.01	0.81	-0.42	0.19	0.51	MPX
CNTA	0.4		0.1	-0.4	0.18	0.11	-0.38	0.42	CNTA
WDC	0.55	0.1		0.52	0.64	-0.1	0.4	0.51	WDC
ADI	0.01	-0.4	0.52		0.27	-0.32	0.73	-0.17	ADI
BWA	0.81	0.18	0.64	0.27		-0.47	0.48	0.47	BWA
RDCM	-0.42	0.11	-0.1	-0.32	-0.47		-0.6	0.34	RDCM
RACE	0.19	-0.38	0.4	0.73	0.48	-0.6		-0.31	RACE
PCAR	0.51	0.42	0.51	-0.17	0.47	0.34	-0.31		PCAR
	MPX	CNTA	WDC	ADI	BWA	RDCM	RACE	PCAR

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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

BWA	+ 0.81	MPX
RACE	+ 0.73	ADI
BWA	+ 0.64	WDC
WDC	+ 0.55	MPX
ADI	+ 0.52	WDC
PCAR	+ 0.51	MPX

High negative correlations

RACE	- 0.6	RDCM
RDCM	- 0.47	BWA
RDCM	- 0.42	MPX
ADI	- 0.4	CNTA
RACE	- 0.38	CNTA
RDCM	- 0.32	ADI

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
MPX	1.35	(0.05)	0.00	0.86	0.00	0.00	2.93	(2.75)	9.29
CNTA	2.71	0.19	0.03	0.69	3.58	(2.65)	6.35	(6.19)	15.71
WDC	2.00	(0.04)	(0.03)	0.02	2.42	(2.02)	4.61	(4.47)	11.34
ADI	1.40	(0.14)	0.00	(0.25)	0.00	0.00	2.21	(3.05)	9.00
BWA	1.30	(0.05)	0.00	(0.05)	0.00	0.00	2.42	(3.14)	7.00
RDCM	2.62	0.42	0.10	6.01	3.00	(3.12)	5.55	(5.52)	21.11
RACE	1.08	(0.16)	0.00	0.87	0.00	0.00	2.18	(2.54)	8.55
PCAR	1.19	0.11	0.05	0.30	1.27	(1.35)	3.10	(2.43)	10.82

Osisko Development Corporate Executives

Elected by the shareholders, the Osisko Development's board of directors comprises two types of representatives: Osisko Development inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Osisko. The board's role is to monitor Osisko Development's management team and ensure that shareholders' interests are well served. Osisko Development'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, Osisko Development's outside directors are responsible for providing unbiased perspectives on the board's policies.

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