Sandstorm Gold Correlations

Summary

SANDDelisted Stock

USD 12.12 0.63 4.94%

The current 90-days correlation between Sandstorm Gold and Orla Mining is -0.06 (i.e., Good diversification). The correlation of Sandstorm 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.

Sandstorm Gold Correlation With Market

Good diversification

The correlation between Sandstorm Gold and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sandstorm Gold and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Sandstorm Stock

0.85	ATCOL	Atlas Corp	Pair Corr
0.88	TLK	Telkom Indonesia Tbk	Pair Corr
0.88	PTAIY	Astra International Tbk	Pair Corr
0.92	KEP	Korea Electric Power	Pair Corr
0.8	TEO	Telecom Argentina	Pair Corr
0.63	IDN	Intellicheck Mobilisa	Pair Corr
0.81	APGE	Apogee Therapeutics,	Pair Corr
0.62	DDS	Dillards,	Pair Corr
0.63	NOEM	CO2 Energy Transition	Pair Corr
0.68	EGP	EastGroup Properties	Pair Corr
0.84	GM	General Motors	Pair Corr
0.88	DNLMY	Dunelm Group PLC	Pair Corr
0.67	AKAM	Akamai Technologies	Pair Corr
0.86	CHACR	Crane Harbor Acquisition	Pair Corr

Moving against Sandstorm Stock

0.89	GCMGW	GCM Grosvenor	Pair Corr
0.74	MAPSW	WM Technology	Pair Corr
0.68	PCTTW	PureCycle Technologies	Pair Corr
0.59	PIFMY	Indofood Sukses Makmur	Pair Corr
0.56	PTAIF	PT Astra International	Pair Corr
0.61	WOLF	Wolfspeed,	Pair Corr
0.41	RYSKF	Reysas Tasimacilik	Pair Corr
0.37	26442TAG2	US26442TAG22	Pair Corr

Related Correlations Analysis

	ORLA	NG	KNF	PRM	CBT	SSRM	CGAU	USLM	SXT	SMG
ORLA		0.71	0.44	0.55	-0.07	0.1	0.66	0.11	0.41	0.34	ORLA
NG	0.71		0.3	0.08	0.37	0.4	0.33	0.3	0.19	0.41	NG
KNF	0.44	0.3		0.72	-0.04	-0.11	0.65	-0.21	0.25	0.4	KNF
PRM	0.55	0.08	0.72		-0.41	-0.36	0.78	-0.33	0.34	0.19	PRM
CBT	-0.07	0.37	-0.04	-0.41		0.71	-0.16	0.81	-0.07	0.14	CBT
SSRM	0.1	0.4	-0.11	-0.36	0.71		0.0	0.65	0.09	0.18	SSRM
CGAU	0.66	0.33	0.65	0.78	-0.16	0.0		0.0	0.45	0.42	CGAU
USLM	0.11	0.3	-0.21	-0.33	0.81	0.65	0.0		0.13	0.2	USLM
SXT	0.41	0.19	0.25	0.34	-0.07	0.09	0.45	0.13		0.12	SXT
SMG	0.34	0.41	0.4	0.19	0.14	0.18	0.42	0.2	0.12		SMG
	ORLA	NG	KNF	PRM	CBT	SSRM	CGAU	USLM	SXT	SMG

Please upgrade your account to get full access to Macroaxis premium features

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

USLM	+ 0.81	CBT
CGAU	+ 0.78	PRM
PRM	+ 0.72	KNF
NG	+ 0.71	ORLA
SSRM	+ 0.71	CBT
CGAU	+ 0.66	ORLA

High negative correlations

CBT	- 0.41	PRM
SSRM	- 0.36	PRM
USLM	- 0.33	PRM
USLM	- 0.21	KNF
CGAU	- 0.16	CBT
SSRM	- 0.11	KNF

Risk-Adjusted Indicators

There is a big difference between Sandstorm Stock performing well and Sandstorm 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 Sandstorm 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
ORLA	3.17	0.52	0.11	0.63	3.99	(3.48)	8.20	(7.02)	27.11
NG	2.93	0.40	0.11	0.40	3.47	(3.39)	6.04	(5.43)	28.25
KNF	1.61	(0.01)	0.00	0.09	0.00	0.00	3.34	(3.09)	12.16
PRM	2.07	0.47	0.12	(0.48)	2.37	(2.20)	3.86	(3.23)	30.19
CBT	1.29	(0.24)	0.00	(0.34)	0.00	0.00	3.63	(2.77)	8.45
SSRM	2.38	(0.13)	0.00	(4.74)	0.00	0.00	4.81	(6.54)	17.90
CGAU	2.10	0.58	0.14	12.92	2.76	(2.34)	5.00	(4.87)	16.21
USLM	1.52	(0.08)	(0.03)	0.01	2.07	(1.47)	2.75	(3.63)	8.80
SXT	1.34	0.09	(0.01)	(0.11)	1.69	(1.44)	2.93	(2.52)	9.55
SMG	1.42	(0.05)	(0.02)	0.03	1.90	(1.35)	2.86	(3.22)	7.55

Sandstorm Gold Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Sandstorm Gold stock to make a market-neutral strategy. Peer analysis of Sandstorm Gold could also be used in its relative valuation, which is a method of valuing Sandstorm Gold by comparing valuation metrics with similar companies.

Orla Mining NovaGold Resources Knife River Perimeter Solutions SA Cabot SSR Mining Centerra Gold United States Lime Sensient Technologies Scotts Miracle Gro American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Still Interested in Sandstorm Gold?

Investing in delisted delisted stocks can be risky, as the stock is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC