Orla Mining Correlations

OLA Stock

CAD 20.54 2.36 10.31%

The current 90-days correlation between Orla Mining and Westgold Resources Limited is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Orla Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Orla Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Orla Mining Correlation With Market

Poor diversification

The correlation between Orla Mining and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orla Mining and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Orla Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Orla Mining 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 Orla Mining - 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 Orla Mining to buy it.

Moving together with Orla Stock

0.86	AG	First Majestic Silver	Pair Corr
0.8	IE	Ivanhoe Energy	Pair Corr
0.84	ORE	Orezone Gold Corp	Pair Corr
0.77	FDY	Faraday Copper Corp	Pair Corr
0.63	GOOG	Alphabet CDR	Pair Corr
0.63	GOOG	Alphabet CDR Earnings Call This Week	Pair Corr
0.8	SMD	Strategic Metals	Pair Corr
0.67	AZS	Arizona Gold Silver	Pair Corr
0.73	TTE	TotalEnergies CDR	Pair Corr

Moving against Orla Stock

0.5	BRK	Berkshire Hathaway CDR	Pair Corr
0.5	BRK	Berkshire Hathaway CDR	Pair Corr
0.46	MSFT	Microsoft Corp CDR	Pair Corr
0.46	MSFT	Microsoft CDR	Pair Corr

Related Correlations Analysis

	WGX	NG	KNT	TXG	DPM	NGEX	PRU	CG	SEA
WGX		0.72	0.83	0.81	0.78	0.68	0.77	0.84	0.74	WGX
NG	0.72		0.81	0.79	0.86	0.8	0.87	0.81	0.89	NG
KNT	0.83	0.81		0.93	0.97	0.9	0.92	0.98	0.91	KNT
TXG	0.81	0.79	0.93		0.89	0.82	0.95	0.94	0.85	TXG
DPM	0.78	0.86	0.97	0.89		0.91	0.93	0.96	0.94	DPM
NGEX	0.68	0.8	0.9	0.82	0.91		0.84	0.89	0.82	NGEX
PRU	0.77	0.87	0.92	0.95	0.93	0.84		0.94	0.92	PRU
CG	0.84	0.81	0.98	0.94	0.96	0.89	0.94		0.9	CG
SEA	0.74	0.89	0.91	0.85	0.94	0.82	0.92	0.9		SEA
	WGX	NG	KNT	TXG	DPM	NGEX	PRU	CG	SEA

Risk-Adjusted Indicators

There is a big difference between Orla Stock performing well and Orla Mining 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 Orla Mining'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
WGX	2.30	0.42	0.14	0.30	2.72	(2.55)	5.21	(5.24)	13.18
NG	2.80	0.11	0.02	0.16	4.40	(3.15)	5.85	(4.64)	15.40
KNT	1.87	0.56	0.19	0.88	2.21	(1.95)	4.25	(3.60)	9.36
TXG	2.29	0.26	0.07	0.32	3.36	(2.45)	5.24	(5.17)	15.05
DPM	1.86	0.67	0.22	1.11	2.44	(2.14)	4.44	(2.41)	8.93
NGEX	2.30	0.32	0.10	0.53	2.77	(2.50)	5.08	(4.71)	12.93
PRU	2.02	0.30	0.08	0.41	3.22	(2.08)	4.01	(3.98)	13.74
CG	2.03	0.62	0.17	0.86	2.74	(2.17)	5.24	(3.44)	11.17
SEA	2.77	0.31	0.07	0.43	3.90	(2.81)	5.83	(5.70)	19.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in Orla Mining 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.

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Orla Mining Corporate Management

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

Andrew Bradbury	Director Relations	Profile
BE PEng	Chief Officer	Profile
PEng PEng	CEO Pres	Profile
Paul CA	Vice Accounting	Profile
Etienne Morin	Chief Officer	Profile
Paul Schmidt	Vice Resources	Profile
Christine Gregory	Corporate Secretary	Profile

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