Osisko Development Correlations

ODVWZ Stock

0.22 0.01 4.76%

The current 90-days correlation between Osisko Development Corp and J Star Holding Co is 0.05 (i.e., Significant 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

Very good diversification

The correlation between Osisko Development Corp and DJI is -0.32 (i.e., Very good 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.

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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 private.

Moving against Osisko Stock

0.62	SRM	Seabridge Gold	Pair Corr
0.59	SA	Seabridge Gold	Pair Corr
0.48	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.47	B	Barrick Mining Symbol Change	Pair Corr
0.46	NG	NovaGold Resources	Pair Corr
0.46	OR	Osisko Gold Ro	Pair Corr
0.45	HL	Hecla Mining Earnings Call Tomorrow	Pair Corr
0.45	WIA	WIA Gold	Pair Corr
0.43	AP	Ampco Pittsburgh	Pair Corr
0.43	RS	Reliance Steel Aluminum Earnings Call This Week	Pair Corr
0.42	AU	AngloGold Ashanti plc Earnings Call This Week	Pair Corr
0.4	AA	Alcoa Corp	Pair Corr
0.4	MT	ArcelorMittal SA ADR Sell-off Trend	Pair Corr
0.56	AML	Abcourt Mines Earnings Call Tomorrow	Pair Corr
0.48	GCN	Goldcliff Resource Corp	Pair Corr
0.45	SRK	Strike Resources	Pair Corr
0.44	TX	Ternium SA ADR Earnings Call This Week	Pair Corr
0.44	WS	Worthington Steel	Pair Corr
0.43	H6F	ARIZONA SONORAN PER	Pair Corr
0.4	LY1	Lion One Metals	Pair Corr
0.39	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.36	ARI	Arika Resources	Pair Corr
0.35	CUU	Copper Fox Metals	Pair Corr
0.61	CVA	Cleveland Cliffs	Pair Corr
0.53	KTO	K2 Gold	Pair Corr
0.53	AMX	Amex Exploration	Pair Corr
0.51	P4Q	Perseus Mining Earnings Call This Week	Pair Corr
0.49	KTN	Kootenay Silver	Pair Corr
0.47	DV	Dolly Varden Silver	Pair Corr

Related Correlations Analysis

	AUST	BGL	NWGL	STAI	ASTL	SNES	NAMM	ELBM	HUDI	YMAT
AUST		-0.08	0.17	-0.49	0.61	-0.47	0.75	0.42	0.01	-0.45	AUST
BGL	-0.08		-0.29	0.73	-0.46	0.7	0.08	0.56	0.28	0.64	BGL
NWGL	0.17	-0.29		-0.38	0.29	-0.3	0.14	-0.21	-0.24	-0.47	NWGL
STAI	-0.49	0.73	-0.38		-0.76	0.92	-0.4	0.21	0.38	0.9	STAI
ASTL	0.61	-0.46	0.29	-0.76		-0.61	0.32	0.02	-0.06	-0.62	ASTL
SNES	-0.47	0.7	-0.3	0.92	-0.61		-0.5	0.27	0.43	0.92	SNES
NAMM	0.75	0.08	0.14	-0.4	0.32	-0.5		0.37	-0.27	-0.49	NAMM
ELBM	0.42	0.56	-0.21	0.21	0.02	0.27	0.37		0.46	0.19	ELBM
HUDI	0.01	0.28	-0.24	0.38	-0.06	0.43	-0.27	0.46		0.46	HUDI
YMAT	-0.45	0.64	-0.47	0.9	-0.62	0.92	-0.49	0.19	0.46		YMAT
	AUST	BGL	NWGL	STAI	ASTL	SNES	NAMM	ELBM	HUDI	YMAT

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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

SNES	+ 0.92	STAI
YMAT	+ 0.92	SNES
YMAT	+ 0.9	STAI
NAMM	+ 0.75	AUST
STAI	+ 0.73	BGL
SNES	+ 0.7	BGL

High negative correlations

ASTL	- 0.76	STAI
YMAT	- 0.62	ASTL
SNES	- 0.61	ASTL
NAMM	- 0.5	SNES
YMAT	- 0.49	NAMM
STAI	- 0.49	AUST

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
AUST	5.44	0.32	0.05	0.19	7.26	(6.08)	11.98	(10.75)	49.36
BGL	8.64	(0.59)	0.00	(0.20)	0.00	0.00	16.96	(16.33)	124.55
NWGL	3.88	0.17	0.04	0.17	4.26	(4.84)	7.76	(7.32)	44.84
STAI	9.57	(3.91)	0.00	(1.16)	0.00	0.00	22.50	(38.40)	98.22
ASTL	3.61	0.30	0.08	0.17	4.29	(4.08)	7.21	(6.29)	24.51
SNES	3.12	(0.88)	0.00	(0.36)	0.00	0.00	8.04	(7.22)	16.92
NAMM	10.67	1.96	0.23	0.40	8.79	(18.16)	31.29	(14.54)	165.48
ELBM	4.11	(0.36)	0.00	(0.13)	0.00	0.00	8.24	(7.45)	27.03
HUDI	2.72	(0.12)	0.00	(0.22)	0.00	0.00	6.72	(7.09)	15.13
YMAT	4.61	(0.90)	0.00	(0.83)	0.00	0.00	9.43	(9.43)	24.36

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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