Orla Mining Correlations

ORLA Stock

USD 21.62 0.90 4.34%

The current 90-days correlation between Orla Mining and NovaGold Resources is 0.61 (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 0.64 (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.

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 board of governors.

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

Moving together with Orla Stock

0.78	AACA	AALBERTS IND	Pair Corr
0.82	CAV	Carnavale Resources Split	Pair Corr
0.73	21L	Alphamin Resources Corp	Pair Corr
0.63	AME	Abacus Mining	Pair Corr
0.77	RMY	RAMSAY HEALTH CARE	Pair Corr
0.67	FR7	Fast Retailing	Pair Corr
0.71	CWN	CROWN HOLDINGS	Pair Corr
0.79	OTP	OTP Bank Nyrt Earnings Call This Week	Pair Corr
0.66	PF8	European Lithium	Pair Corr
0.61	BS1	BASSETT FURN IND	Pair Corr
0.73	DC	Dakota Gold Corp	Pair Corr
0.7	NGR	NOVAGOLD RESOURCES	Pair Corr
0.85	DEZ	Deutz AG	Pair Corr
0.63	2TU	Taruga Minerals	Pair Corr

Moving against Orla Stock

0.63	VA7A	VERISK ANLYTCS A	Pair Corr
0.56	6WX	CN LONGYUAN POWER	Pair Corr
0.47	6RC	REPROCELL	Pair Corr
0.8	SON1	Sony Group Corp	Pair Corr
0.63	GEO	Empire Metals Limited	Pair Corr
0.62	BF5B	BROWN NON VTG Earnings Call This Week	Pair Corr
0.61	UMD	UMT United Mobility	Pair Corr
0.34	EO5	EOG RESOURCES	Pair Corr

Related Correlations Analysis

	NG	SAND	USLM	CGAU	KNF	PRM	SMG	CBT	FUL	SA
NG		0.34	-0.22	0.68	0.57	-0.4	0.6	0.47	0.42	0.85	NG
SAND	0.34		-0.37	0.87	0.43	-0.37	0.86	0.91	0.75	0.63	SAND
USLM	-0.22	-0.37		-0.43	-0.53	0.63	-0.57	-0.46	-0.57	-0.25	USLM
CGAU	0.68	0.87	-0.43		0.5	-0.53	0.91	0.87	0.67	0.84	CGAU
KNF	0.57	0.43	-0.53	0.5		-0.31	0.7	0.61	0.72	0.58	KNF
PRM	-0.4	-0.37	0.63	-0.53	-0.31		-0.57	-0.41	-0.39	-0.35	PRM
SMG	0.6	0.86	-0.57	0.91	0.7	-0.57		0.91	0.83	0.75	SMG
CBT	0.47	0.91	-0.46	0.87	0.61	-0.41	0.91		0.86	0.69	CBT
FUL	0.42	0.75	-0.57	0.67	0.72	-0.39	0.83	0.86		0.53	FUL
SA	0.85	0.63	-0.25	0.84	0.58	-0.35	0.75	0.69	0.53		SA
	NG	SAND	USLM	CGAU	KNF	PRM	SMG	CBT	FUL	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

CBT	+ 0.91	SAND
SMG	+ 0.91	CGAU
CBT	+ 0.91	SMG
CGAU	+ 0.87	SAND
CBT	+ 0.87	CGAU
SMG	+ 0.86	SAND

High negative correlations

SMG	- 0.57	PRM
FUL	- 0.57	USLM
SMG	- 0.57	USLM
PRM	- 0.53	CGAU
KNF	- 0.53	USLM
CBT	- 0.46	USLM

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	3.79	0.73	0.13	0.50	4.97	(4.07)	8.92	(6.78)	33.05
SAND	1.36	0.36	0.13	5.15	1.80	(1.62)	2.89	(2.55)	9.52
USLM	1.66	(0.18)	0.00	(0.03)	0.00	0.00	3.17	(3.59)	10.78
CGAU	2.54	0.89	0.20	0.96	3.41	(2.88)	5.69	(5.34)	26.35
KNF	2.27	0.22	0.12	0.19	2.38	(2.66)	4.93	(3.57)	19.90
PRM	1.51	(0.24)	0.00	(0.16)	0.00	0.00	2.45	(2.84)	14.27
SMG	1.33	0.38	0.20	0.63	1.26	(1.41)	4.16	(2.68)	7.91
CBT	1.31	0.28	0.18	0.38	1.17	(1.52)	3.70	(2.21)	13.57
FUL	1.32	0.13	0.09	0.19	1.36	(1.58)	3.51	(2.39)	8.23
SA	3.09	0.77	0.17	0.73	3.94	(3.47)	7.03	(4.94)	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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