OceanaGold Correlations

OGC Stock

CAD 49.56 3.14 5.96%

The current 90-days correlation between OceanaGold and Eldorado Gold Corp is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OceanaGold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OceanaGold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OceanaGold Correlation With Market

Very poor diversification

The correlation between OceanaGold and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OceanaGold and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to OceanaGold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OceanaGold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back OceanaGold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling OceanaGold to buy it.

Moving together with OceanaGold Stock

0.97	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.9	IE	Ivanhoe Energy	Pair Corr
0.97	ORE	Orezone Gold Corp	Pair Corr
0.94	FDY	Faraday Copper Corp	Pair Corr
0.92	BNP	BNP Paribas CDR	Pair Corr
0.68	CITI	CITIGROUP CDR	Pair Corr
0.71	RY	Royal Bank	Pair Corr
0.82	TD	Toronto Dominion Bank	Pair Corr

Related Correlations Analysis

	ELD	NGD	SSRM	PRU	BTO	ARTG	DPM	IMG	TXG	OR
ELD		0.97	0.85	0.91	0.88	0.9	0.95	0.96	0.76	0.96	ELD
NGD	0.97		0.87	0.93	0.87	0.93	0.93	0.95	0.82	0.98	NGD
SSRM	0.85	0.87		0.87	0.9	0.91	0.82	0.91	0.71	0.89	SSRM
PRU	0.91	0.93	0.87		0.84	0.9	0.85	0.88	0.86	0.93	PRU
BTO	0.88	0.87	0.9	0.84		0.87	0.91	0.95	0.62	0.87	BTO
ARTG	0.9	0.93	0.91	0.9	0.87		0.81	0.89	0.84	0.94	ARTG
DPM	0.95	0.93	0.82	0.85	0.91	0.81		0.97	0.63	0.92	DPM
IMG	0.96	0.95	0.91	0.88	0.95	0.89	0.97		0.68	0.94	IMG
TXG	0.76	0.82	0.71	0.86	0.62	0.84	0.63	0.68		0.82	TXG
OR	0.96	0.98	0.89	0.93	0.87	0.94	0.92	0.94	0.82		OR
	ELD	NGD	SSRM	PRU	BTO	ARTG	DPM	IMG	TXG	OR

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between OceanaGold Stock performing well and OceanaGold 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 OceanaGold'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
ELD	2.38	0.63	0.18	0.60	2.83	(2.67)	5.17	(5.27)	16.09
NGD	3.33	0.43	0.13	0.24	3.83	(4.13)	7.68	(5.41)	28.20
SSRM	2.66	0.26	0.07	0.27	3.66	(2.64)	6.93	(5.59)	26.18
PRU	2.22	0.18	0.05	0.25	3.30	(2.30)	4.73	(4.25)	18.09
BTO	2.27	0.21	0.06	0.22	3.60	(2.14)	5.43	(4.17)	20.45
ARTG	2.49	0.06	0.02	0.12	3.54	(2.37)	4.57	(6.23)	15.78
DPM	2.18	0.60	0.16	0.54	3.26	(2.39)	4.80	(2.52)	18.70
IMG	2.82	0.56	0.13	0.48	3.68	(2.84)	7.16	(6.09)	21.82
TXG	2.58	(0.15)	0.00	(0.03)	0.00	0.00	5.38	(7.96)	19.51
OR	2.05	0.25	0.07	0.29	3.19	(2.09)	4.19	(3.93)	17.45

Be your own money manager

Our tools can tell you how much better you can do entering a position in OceanaGold without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Money Managers Now

Money Managers

Screen money managers from public funds and ETFs managed around the world

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC