OR Royalties Correlations

OM40 Stock

33.60 2.20 6.15%

The current 90-days correlation between OR Royalties and Kinross Gold is 0.38 (i.e., Weak diversification). The correlation of OR Royalties 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.

OR Royalties Correlation With Market

Poor diversification

The correlation between OR Royalties and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OR Royalties and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with OM40 Stock

0.87	FJZB	ZIJIN MINH UNSPADR20	Pair Corr
0.96	NMM	Newmont	Pair Corr
0.95	AE9	Agnico Eagle Mines Earnings Call This Week	Pair Corr
0.97	SII	Wheaton Precious Metals	Pair Corr
0.94	EDGA	Gold Fields Limited	Pair Corr
0.95	EDG	Gold Fields Limited	Pair Corr
0.98	3FO	Franco Nevada	Pair Corr
0.97	KIN2	Kinross Gold	Pair Corr
0.65	6GAA	Grupo Aval Acciones	Pair Corr
0.62	KBIA	KB Financial Group Earnings Call This Week	Pair Corr
0.66	2WGA	WOORI FIN GRP	Pair Corr
0.9	LFL0	LATAM Airlines Group	Pair Corr
0.87	BSA	Banco Santander Chile	Pair Corr
0.84	G4RA	Banco de Chile	Pair Corr
0.69	5EA	Elanco Animal Health	Pair Corr
0.89	ASME	ASML Holding NV	Pair Corr
0.77	SCTA	SSE PLC ADR	Pair Corr
0.66	MUB	Mühlbauer Holding	Pair Corr
0.61	9D00	ATLAS SALT INC	Pair Corr
0.85	NTH	NORTHROP GRUMMAN	Pair Corr
0.88	CV5	Covenant Logistics	Pair Corr
0.86	MAT1	Panasonic Corp	Pair Corr
0.84	9M5	MYFAIR GOLD P	Pair Corr
0.83	SG9	Strix Group Plc	Pair Corr
0.8	AM8	AMAG Austria Metall	Pair Corr
0.75	ABEA	Alphabet Class A	Pair Corr
0.77	PE1	Patterson UTI Energy	Pair Corr
0.64	68V	Baker Hughes	Pair Corr
0.81	QUC	Quaker Chemical	Pair Corr
0.78	GOS	Goldman Sachs	Pair Corr
0.88	NO8	NOV Inc	Pair Corr
0.81	17M	Moelis Company	Pair Corr

Related Correlations Analysis

	FJZB	NMM	AE9	SII	EDG	3FO	KIN2
FJZB		0.88	0.82	0.88	0.86	0.84	0.83	FJZB
NMM	0.88		0.94	0.99	0.96	0.96	0.97	NMM
AE9	0.82	0.94		0.94	0.93	0.97	0.97	AE9
SII	0.88	0.99	0.94		0.96	0.97	0.97	SII
EDG	0.86	0.96	0.93	0.96		0.95	0.95	EDG
3FO	0.84	0.96	0.97	0.97	0.95		0.98	3FO
KIN2	0.83	0.97	0.97	0.97	0.95	0.98		KIN2
	FJZB	NMM	AE9	SII	EDG	3FO	KIN2

Risk-Adjusted Indicators

There is a big difference between OM40 Stock performing well and OR Royalties 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 OR Royalties' 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
FJZB	3.48	0.47	0.07	0.46	4.55	(5.31)	10.69	(7.59)	38.10
NMM	2.29	0.39	0.13	0.41	2.85	(2.47)	5.42	(3.31)	16.36
AE9	2.04	0.21	0.06	0.37	2.87	(2.00)	3.91	(4.26)	15.74
SII	1.96	0.46	0.14	1.72	2.47	(2.00)	4.66	(3.39)	18.96
EDG	3.75	0.46	0.10	0.88	4.22	(4.24)	8.02	(6.12)	22.97
3FO	1.86	0.26	0.09	0.58	2.33	(1.87)	4.39	(3.27)	13.85
KIN2	2.19	0.43	0.12	1.03	3.09	(2.30)	5.47	(4.40)	18.30

Be your own money manager

Our tools can tell you how much better you can do entering a position in OR Royalties 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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OR Royalties Corporate Management

Elected by the shareholders, the OR Royalties' board of directors comprises two types of representatives: OR Royalties inside directors who are chosen from within the company, and outside directors, selected externally and held independent of OM40. The board's role is to monitor OR Royalties' management team and ensure that shareholders' interests are well served. OR Royalties' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, OR Royalties' outside directors are responsible for providing unbiased perspectives on the board's policies.

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