Royal Gold Correlations

RGLD Stock

USD 289.70 1.66 0.58%

The current 90-days correlation between Royal Gold and Harmony Gold Mining is 0.84 (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 0.85 (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.

Build AI portfolio with Royal Stock

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 board of governors.

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

Moving together with Royal Stock

0.91	B	Barrick Mining Symbol Change	Pair Corr
0.84	BP60	ALMA METALS LTD	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr
0.96	AG	First Majestic Silver Trending	Pair Corr
0.89	AP	Ampco Pittsburgh	Pair Corr
0.94	AU	AngloGold Ashanti plc	Pair Corr
0.8	SRM	Seabridge Gold	Pair Corr
0.91	HL	Hecla Mining Aggressive Push	Pair Corr
0.86	MT	ArcelorMittal SA ADR	Pair Corr
0.98	OR	Osisko Gold Ro	Pair Corr
0.9	RS	Reliance Steel Aluminum	Pair Corr
0.62	WIA	WIA Gold	Pair Corr
0.84	SA	Seabridge Gold	Pair Corr
0.65	TG	Tredegar	Pair Corr
0.95	TX	Ternium SA ADR	Pair Corr
0.81	WS	Worthington Steel	Pair Corr
0.82	CUU	Copper Fox Metals	Pair Corr
0.95	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.73	ARI	Arika Resources	Pair Corr
0.79	SRK	Strike Resources	Pair Corr
0.87	LY1	Lion One Metals Earnings Call This Week	Pair Corr
0.94	UJ0	WEST RED LAKE	Pair Corr
0.93	H6F	ARIZONA SONORAN PER	Pair Corr
0.87	DHR	Discovery Harbour	Pair Corr
0.63	DV	Dolly Varden Silver Earnings Call This Week	Pair Corr
0.87	P4Q	Perseus Mining	Pair Corr
0.94	ELY	Ely Gold Royalties	Pair Corr
0.98	WPM	Wheaton Precious Metals	Pair Corr

Moving against Royal Stock

0.42	0GC0	RIDGELINE MINERALS	Pair Corr
0.82	R8R	REGENER8 Resources	Pair Corr
0.49	GML	Gateway Mining	Pair Corr
0.45	FHS	Freehill Mining	Pair Corr

Related Correlations Analysis

	HMY	AGI	CDE	JHX	SUZ	PAAS	ALB	HL	NGD	EQX
HMY		0.67	0.83	0.68	0.39	0.87	0.83	0.89	0.82	0.75	HMY
AGI	0.67		0.86	0.82	0.85	0.9	0.81	0.71	0.87	0.92	AGI
CDE	0.83	0.86		0.91	0.74	0.96	0.96	0.93	1.0	0.89	CDE
JHX	0.68	0.82	0.91		0.84	0.88	0.89	0.82	0.92	0.8	JHX
SUZ	0.39	0.85	0.74	0.84		0.72	0.7	0.54	0.75	0.77	SUZ
PAAS	0.87	0.9	0.96	0.88	0.72		0.93	0.9	0.95	0.92	PAAS
ALB	0.83	0.81	0.96	0.89	0.7	0.93		0.93	0.96	0.81	ALB
HL	0.89	0.71	0.93	0.82	0.54	0.9	0.93		0.93	0.75	HL
NGD	0.82	0.87	1.0	0.92	0.75	0.95	0.96	0.93		0.89	NGD
EQX	0.75	0.92	0.89	0.8	0.77	0.92	0.81	0.75	0.89		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	2.90	0.31	0.08	0.30	4.20	(2.96)	6.49	(8.23)	20.68
AGI	2.74	0.56	0.13	0.54	3.70	(2.73)	6.22	(6.26)	18.61
CDE	3.57	0.68	0.19	0.33	4.08	(4.39)	7.43	(5.71)	29.29
JHX	1.67	0.63	0.29	(1.37)	1.22	(2.03)	4.77	(2.65)	10.48
SUZ	1.24	0.36	0.23	3.66	0.93	(1.69)	3.00	(1.79)	15.38
PAAS	3.08	0.76	0.18	0.57	3.53	(3.26)	7.23	(6.58)	24.89
ALB	2.76	0.59	0.15	0.53	3.49	(2.90)	5.40	(6.18)	17.63
HL	4.25	0.68	0.16	0.34	4.79	(4.68)	8.77	(6.60)	27.31
NGD	3.53	0.71	0.19	0.35	3.89	(4.01)	7.57	(5.50)	29.39
EQX	3.14	0.60	0.13	1.02	4.06	(3.38)	7.15	(6.48)	20.51

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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