Royal Gold Correlations

RGLD Stock

USD 300.60 6.87 2.34%

The current 90-days correlation between Royal Gold and Harmony Gold Mining is 0.82 (i.e., Very poor diversification). The correlation of Royal Gold 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.

Royal Gold Correlation With Market

Very poor diversification

The correlation between Royal Gold and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royal Gold and DJI in the same portfolio, assuming nothing else is changed.

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

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

Moving together with Royal Stock

0.94	B	Barrick Mining Symbol Change	Pair Corr
0.98	OR	Osisko Gold Ro	Pair Corr
0.98	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.9	BRW	Brunswick Exploration	Pair Corr
0.81	BAU	Blue Star Gold	Pair Corr
0.95	AEM	Agnico Eagle Mines	Pair Corr
0.97	FCX	Freeport McMoran Copper Aggressive Push	Pair Corr
0.99	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.95	KORE	Kore Mining	Pair Corr
0.77	TAJ	Tajiri Resources Corp	Pair Corr
0.79	DEX	Almadex Minerals	Pair Corr
0.8	ATCOL	Atlas Corp	Pair Corr
0.66	PTAIY	Astra International Tbk	Pair Corr
0.84	PHJMF	PT Hanjaya Mandala	Pair Corr
0.64	PKX	POSCO Holdings Earnings Call Tomorrow	Pair Corr
0.81	EC	Ecopetrol SA ADR	Pair Corr
0.81	CNOB	ConnectOne Bancorp Earnings Call Tomorrow	Pair Corr
0.74	EGP	EastGroup Properties	Pair Corr
0.74	KB	KB Financial Group	Pair Corr
0.78	FTCI	FTC Solar	Pair Corr
0.88	JNJ	Johnson Johnson	Pair Corr
0.75	SSRM	SSR Mining	Pair Corr

Moving against Royal Stock

0.88	KALO	Kalo Gold Corp Earnings Call Tomorrow	Pair Corr
0.87	GCMGW	GCM Grosvenor	Pair Corr
0.82	ADVWW	Advantage Solutions	Pair Corr
0.79	MAPSW	WM Technology	Pair Corr
0.65	RAK	Rackla Metals	Pair Corr
0.55	PTAIF	PT Astra International	Pair Corr
0.47	PCTTW	PureCycle Technologies	Pair Corr
0.41	GOEVW	Canoo Holdings	Pair Corr
0.31	IGO	Independence Gold Corp	Pair Corr
0.72	PIFMY	Indofood Sukses Makmur	Pair Corr
0.69	GRLF	Green Leaf Innovations	Pair Corr
0.64	PKKFF	Tenet Fintech Group	Pair Corr

Related Correlations Analysis

	HMY	AGI	CDE	JHX	SUZ	PAAS	ALB	HL	NGD	EQX
HMY		0.96	0.82	0.63	0.79	0.95	0.93	0.94	0.92	0.94	HMY
AGI	0.96		0.74	0.56	0.8	0.96	0.96	0.9	0.89	0.94	AGI
CDE	0.82	0.74		0.88	0.85	0.79	0.81	0.88	0.89	0.65	CDE
JHX	0.63	0.56	0.88		0.77	0.64	0.61	0.69	0.7	0.4	JHX
SUZ	0.79	0.8	0.85	0.77		0.84	0.87	0.87	0.88	0.69	SUZ
PAAS	0.95	0.96	0.79	0.64	0.84		0.95	0.93	0.92	0.92	PAAS
ALB	0.93	0.96	0.81	0.61	0.87	0.95		0.96	0.95	0.91	ALB
HL	0.94	0.9	0.88	0.69	0.87	0.93	0.96		0.98	0.88	HL
NGD	0.92	0.89	0.89	0.7	0.88	0.92	0.95	0.98		0.86	NGD
EQX	0.94	0.94	0.65	0.4	0.69	0.92	0.91	0.88	0.86		EQX
	HMY	AGI	CDE	JHX	SUZ	PAAS	ALB	HL	NGD	EQX

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Risk-Adjusted Indicators

There is a big difference between Royal Stock performing well and Royal Gold 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 Royal Gold'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
HMY	2.51	0.40	0.14	0.32	2.69	(2.73)	6.34	(5.26)	15.03
AGI	1.96	0.46	0.17	0.82	2.09	(2.08)	5.03	(4.06)	12.47
CDE	3.09	0.38	0.13	0.24	3.36	(3.71)	6.67	(5.20)	15.22
JHX	1.73	0.15	0.05	0.37	2.33	(1.82)	4.42	(3.55)	10.38
SUZ	1.02	0.16	0.10	0.73	0.88	(1.34)	1.99	(1.69)	7.81
PAAS	2.40	0.94	0.33	2.32	1.89	(2.74)	7.44	(4.28)	16.85
ALB	2.71	1.14	0.28	1.19	2.88	(3.02)	6.67	(6.18)	17.41
HL	3.65	1.13	0.34	0.59	2.87	(4.33)	8.95	(5.78)	18.66
NGD	2.91	0.94	0.34	0.53	2.26	(3.39)	7.41	(4.09)	19.38
EQX	2.43	0.66	0.22	3.05	2.51	(2.83)	7.15	(5.10)	15.01

Royal Gold Corporate Management

Laura JD	Corporate VP	Profile
David Esq	Corporate VP	Profile
Paul Libner	CFO Treasurer	Profile
Alistair Baker	Senior Corp	Profile
Martin PEng	Senior Operations	Profile

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