Orla Mining Correlations

ORLA Stock

USD 15.78 0.91 6.12%

The current 90-days correlation between Orla Mining and NovaGold Resources is 0.62 (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

Poor diversification

The correlation between Orla Mining and DJI is 0.69 (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.

Build AI portfolio with Orla Stock

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 metropolitan statistical area.

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

Moving together with Orla Stock

0.71	AACA	AALBERTS IND	Pair Corr
0.88	CAV	Carnavale Resources Split	Pair Corr
0.86	DC	Dakota Gold Corp	Pair Corr
0.7	VML	Viscount Mining Corp	Pair Corr
0.66	GM0N	GLOBUS MEDICAL A	Pair Corr
0.77	LQK2	BLACK MAMMOTH METALS	Pair Corr
0.71	FPX	FPX Nickel Corp	Pair Corr
0.74	RSO	Ross Stores	Pair Corr
0.73	PZX	Ping An Insurance	Pair Corr
0.64	MSI	Mitsui Chemicals Earnings Call Tomorrow	Pair Corr
0.64	ELTLF	Elementos Limited	Pair Corr
0.74	PEX	Peel Mining	Pair Corr
0.8	XCA	CREDIT AGRICOLE Earnings Call Today	Pair Corr
0.69	EMNT	Eminent Gold Corp	Pair Corr
0.85	BRC	Blackrock Silver Corp	Pair Corr
0.81	LGLD	LG ELECTRONICS INC	Pair Corr

Moving against Orla Stock

0.78	GEO	Empire Metals Limited	Pair Corr
0.64	PWM	Power Metals Corp	Pair Corr
0.55	ADC	Acdc Metals	Pair Corr
0.49	4BY	BYD ELECTRONIC	Pair Corr
0.37	CDB	Cordoba Minerals Corp	Pair Corr
0.32	FR7	Fast Retailing	Pair Corr
0.31	VA7A	VERISK ANLYTCS A	Pair Corr
0.72	AMY	American Manganese	Pair Corr
0.51	SCA	SVENSKA CELLULO B	Pair Corr
0.51	T2G	TRADEGATE	Pair Corr
0.45	HX1A	HEXINDO ADIPERKASA	Pair Corr
0.43	IMI	Infinity Mining	Pair Corr
0.63	EMO	Emerita Resources Corp	Pair Corr
0.53	YT2A	ATRESMEDIA	Pair Corr
0.52	CE1	CAREER EDUCATION	Pair Corr
0.47	3TY	TITAN MACHINERY	Pair Corr
0.31	CVW	CVW CleanTech	Pair Corr

Related Correlations Analysis

	NG	SAND	USLM	CGAU	KNF	PRM	SMG	CBT	FUL	SA
NG		0.79	0.67	0.78	0.57	0.71	0.63	0.63	0.55	0.9	NG
SAND	0.79		0.75	0.84	0.62	0.76	0.79	0.79	0.74	0.89	SAND
USLM	0.67	0.75		0.61	0.6	0.65	0.58	0.74	0.71	0.72	USLM
CGAU	0.78	0.84	0.61		0.37	0.48	0.88	0.83	0.58	0.89	CGAU
KNF	0.57	0.62	0.6	0.37		0.83	0.46	0.37	0.59	0.55	KNF
PRM	0.71	0.76	0.65	0.48	0.83		0.41	0.47	0.56	0.73	PRM
SMG	0.63	0.79	0.58	0.88	0.46	0.41		0.79	0.71	0.72	SMG
CBT	0.63	0.79	0.74	0.83	0.37	0.47	0.79		0.77	0.78	CBT
FUL	0.55	0.74	0.71	0.58	0.59	0.56	0.71	0.77		0.6	FUL
SA	0.9	0.89	0.72	0.89	0.55	0.73	0.72	0.78	0.6		SA
	NG	SAND	USLM	CGAU	KNF	PRM	SMG	CBT	FUL	SA

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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
NG	2.90	0.22	0.05	0.24	4.28	(3.16)	6.04	(5.53)	33.05
SAND	1.36	0.35	0.14	0.79	1.80	(1.62)	2.89	(2.55)	9.52
USLM	1.73	(0.18)	0.00	(0.06)	0.00	0.00	3.08	(4.00)	8.80
CGAU	2.19	0.69	0.18	0.93	2.91	(2.43)	5.00	(4.58)	26.35
KNF	2.04	0.23	0.10	0.17	2.28	(2.34)	4.35	(3.57)	16.62
PRM	1.87	0.34	0.12	0.49	2.29	(1.94)	3.38	(2.61)	30.19
SMG	1.47	0.24	0.12	0.29	1.63	(1.48)	4.17	(2.93)	7.91
CBT	1.43	0.01	0.01	0.05	1.89	(1.55)	3.72	(2.33)	8.68
FUL	1.25	0.08	0.06	0.11	1.37	(1.51)	3.48	(2.12)	8.23
SA	2.95	0.38	0.09	0.37	4.04	(3.21)	6.40	(5.96)	28.57

Orla Mining Corporate Management

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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