Orla Mining Correlations

ORLA Stock

USD 4.59 0.01 0.22%

The current 90-days correlation between Orla Mining and K92 Mining is 0.67 (i.e., Poor diversification). The correlation of Orla Mining 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.

Orla Mining Correlation With Market

Significant diversification

The correlation between Orla Mining and DJI is 0.03 (i.e., Significant 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.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Orla Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For information on how to trade Orla Stock refer to our How to Trade Orla Stock guide.

Moving together with Orla Stock

0.62	X	United States Steel	Pair Corr
0.81	AG	First Majestic Silver	Pair Corr
0.74	IE	Ivanhoe Electric	Pair Corr
0.86	OR	Osisko Gold Ro	Pair Corr
0.79	AEM	Agnico Eagle Mines	Pair Corr
0.83	DRD	DRDGOLD Limited ADR	Pair Corr
0.76	FNV	Franco Nevada	Pair Corr
0.65	FSM	Fortuna Silver Mines	Pair Corr
0.74	GAU	Galiano Gold	Pair Corr
0.79	GFI	Gold Fields	Pair Corr
0.61	HBM	Hudbay Minerals Sell-off Trend	Pair Corr
0.73	HMY	Harmony Gold Mining	Pair Corr

Moving against Orla Stock

0.33	NG	NovaGold Resources	Pair Corr
0.31	BAK	Braskem SA Class	Pair Corr
0.6	HLP	Hongli Group Ordinary	Pair Corr
0.47	GGB	Gerdau SA ADR Potential Growth	Pair Corr
0.36	FRD	Friedman Industries	Pair Corr

Related Correlations Analysis

	MGDPF	KNTNF	EQX	CTGO	SAND	FNV	RGLD	AGI	SA
MGDPF		-0.58	-0.28	-0.25	-0.54	-0.57	-0.53	-0.6	-0.53	MGDPF
KNTNF	-0.58		0.07	0.24	0.54	0.62	0.84	0.48	0.22	KNTNF
EQX	-0.28	0.07		0.13	0.62	0.36	0.17	0.71	0.52	EQX
CTGO	-0.25	0.24	0.13		0.44	0.72	0.49	0.55	0.8	CTGO
SAND	-0.54	0.54	0.62	0.44		0.83	0.57	0.9	0.66	SAND
FNV	-0.57	0.62	0.36	0.72	0.83		0.74	0.86	0.78	FNV
RGLD	-0.53	0.84	0.17	0.49	0.57	0.74		0.57	0.41	RGLD
AGI	-0.6	0.48	0.71	0.55	0.9	0.86	0.57		0.83	AGI
SA	-0.53	0.22	0.52	0.8	0.66	0.78	0.41	0.83		SA
	MGDPF	KNTNF	EQX	CTGO	SAND	FNV	RGLD	AGI	SA

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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

AGI	+ 0.9	SAND
AGI	+ 0.86	FNV
RGLD	+ 0.84	KNTNF
FNV	+ 0.83	SAND
SA	+ 0.83	AGI
SA	+ 0.8	CTGO

High negative correlations

AGI	- 0.6	MGDPF
KNTNF	- 0.58	MGDPF
FNV	- 0.57	MGDPF
SAND	- 0.54	MGDPF
SA	- 0.53	MGDPF
RGLD	- 0.53	MGDPF

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
MGDPF	2.37	0.11	0.00	0.03	0.00	0.00	5.66	(4.41)	13.61
KNTNF	2.26	0.37	0.08	(3.36)	2.34	(2.35)	5.11	(4.20)	22.74
EQX	2.45	(0.06)	(0.03)	0.03	2.90	(3.02)	5.70	(4.95)	18.48
CTGO	2.38	(0.24)	0.00	(0.15)	0.00	0.00	5.95	(4.66)	18.75
SAND	1.73	0.09	0.00	0.42	2.41	(1.81)	3.33	(2.56)	15.60
FNV	1.20	0.00	(0.05)	0.11	1.72	(1.14)	2.46	(2.61)	8.26
RGLD	1.21	0.08	0.00	0.36	1.58	(1.17)	2.44	(2.62)	7.40
AGI	1.43	(0.05)	0.00	(0.27)	0.00	0.00	3.14	(3.62)	12.39
SA	2.02	(0.32)	0.00	(0.39)	0.00	0.00	3.31	(5.22)	17.19

Orla Mining Corporate Management

Chafika Eddine	Chief Officer	Profile
Andrew Bradbury	Director Relations	Profile
Brendan DePoe	Corporate Secretary	Profile
Sylvain Guerard	VP Exploration	Profile
BE PEng	Chief Officer	Profile
PEng PEng	CEO Pres	Profile

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