Seabridge Gold Correlations

SA Stock

USD 34.01 2.31 7.29%

The current 90-days correlation between Seabridge Gold and Centerra Gold is 0.78 (i.e., Poor diversification). The correlation of Seabridge 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.

Seabridge Gold Correlation With Market

Poor diversification

The correlation between Seabridge Gold and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Seabridge Gold and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Seabridge Stock

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Seabridge 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 nation.

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

Moving together with Seabridge Stock

0.9	B	Barrick Mining Symbol Change	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.87	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.76	AP	Ampco Pittsburgh	Pair Corr
0.8	AU	AngloGold Ashanti plc Earnings Call This Week	Pair Corr
0.92	SRM	Seabridge Gold	Pair Corr
0.87	HL	Hecla Mining Earnings Call This Week	Pair Corr
0.69	MT	ArcelorMittal SA ADR Sell-off Trend	Pair Corr
0.84	NG	NovaGold Resources	Pair Corr
0.85	OR	Osisko Gold Ro	Pair Corr
0.72	RS	Reliance Steel Aluminum Earnings Call This Week	Pair Corr
0.83	WIA	WIA Gold	Pair Corr
0.78	TX	Ternium SA ADR	Pair Corr
0.64	WS	Worthington Steel	Pair Corr
0.65	CUU	Copper Fox Metals	Pair Corr
0.73	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.63	ARI	Arika Resources	Pair Corr
0.72	AML	Abcourt Mines Earnings Call This Week	Pair Corr
0.74	SRK	Strike Resources	Pair Corr
0.66	GCN	Goldcliff Resource Corp	Pair Corr
0.63	LY1	Lion One Metals	Pair Corr
0.77	H6F	ARIZONA SONORAN PER	Pair Corr
0.61	DHR	Discovery Harbour	Pair Corr
0.84	DV	Dolly Varden Silver	Pair Corr
0.88	P4Q	Perseus Mining Earnings Call This Week	Pair Corr
0.77	ELY	Ely Gold Royalties	Pair Corr
0.83	WPM	Wheaton Precious Metals	Pair Corr
0.8	KTN	Kootenay Silver	Pair Corr
0.7	CVA	Cleveland Cliffs	Pair Corr

Moving against Seabridge Stock

0.61	GML	Gateway Mining	Pair Corr
0.47	R8R	REGENER8 Resources	Pair Corr
0.48	FHS	Freehill Mining	Pair Corr
0.38	36G	GBM RESOURCES LTD	Pair Corr

Related Correlations Analysis

	CGAU	DRD	PPTA	EXK	AAUC	ARMN	SID	FSM	MTRN	TMC
CGAU		0.92	0.86	0.96	0.97	0.96	0.8	0.92	0.87	0.52	CGAU
DRD	0.92		0.93	0.95	0.86	0.92	0.71	0.93	0.78	0.64	DRD
PPTA	0.86	0.93		0.92	0.82	0.88	0.81	0.89	0.73	0.74	PPTA
EXK	0.96	0.95	0.92		0.92	0.95	0.81	0.95	0.8	0.64	EXK
AAUC	0.97	0.86	0.82	0.92		0.96	0.81	0.88	0.9	0.54	AAUC
ARMN	0.96	0.92	0.88	0.95	0.96		0.8	0.95	0.85	0.62	ARMN
SID	0.8	0.71	0.81	0.81	0.81	0.8		0.73	0.68	0.57	SID
FSM	0.92	0.93	0.89	0.95	0.88	0.95	0.73		0.76	0.67	FSM
MTRN	0.87	0.78	0.73	0.8	0.9	0.85	0.68	0.76		0.37	MTRN
TMC	0.52	0.64	0.74	0.64	0.54	0.62	0.57	0.67	0.37		TMC
	CGAU	DRD	PPTA	EXK	AAUC	ARMN	SID	FSM	MTRN	TMC

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Risk-Adjusted Indicators

There is a big difference between Seabridge Stock performing well and Seabridge 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 Seabridge 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
CGAU	2.51	0.67	0.15	0.59	3.53	(2.72)	5.69	(5.34)	26.35
DRD	2.86	0.39	0.10	0.32	3.74	(3.07)	6.04	(8.22)	18.57
PPTA	3.77	0.34	0.08	0.22	4.79	(4.01)	7.90	(7.70)	30.39
EXK	4.08	0.57	0.13	0.25	4.88	(4.45)	8.81	(7.46)	32.14
AAUC	2.02	0.95	0.40	0.90	1.60	(2.48)	6.12	(2.66)	17.83
ARMN	2.69	0.92	0.18	1.14	3.93	(2.90)	6.86	(4.39)	26.24
SID	3.00	0.13	0.03	0.18	3.51	(3.62)	5.79	(7.28)	18.00
FSM	2.75	0.36	0.10	0.24	3.68	(2.97)	6.17	(5.17)	25.09
MTRN	1.69	0.38	0.16	0.30	2.01	(1.83)	4.32	(2.56)	14.50
TMC	5.77	0.16	0.04	0.13	6.69	(6.46)	13.46	(11.50)	37.07

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