Sandstorm Gold Correlations

SANDDelisted Stock

USD 12.12 0.63 4.94%

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

Very poor diversification

The correlation between Sandstorm Gold and DJI is 0.88 (i.e., Very poor 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 inflation.

Moving together with Sandstorm Stock

0.85	ATCOL	Atlas Corp	Pair Corr
0.81	GEL	Genesis Energy LP	Pair Corr
0.76	VHI	Valhi Inc Earnings Call This Week	Pair Corr
0.89	MEEEF	Metal Energy Corp	Pair Corr
0.74	BKCYF	Bank Of Cyprus Holdings P Normal Trading	Pair Corr
0.92	CMI	Cummins	Pair Corr
0.88	DREUF	Dream Industrial Real	Pair Corr
0.65	TG	Tredegar	Pair Corr
0.85	TDY	Teledyne Technologies	Pair Corr
0.91	INGR	Ingredion Incorporated	Pair Corr
0.8	CCL	Carnival	Pair Corr
0.89	RHHVF	Roche Holding AG	Pair Corr
0.84	GL-PD	Globe Life 425	Pair Corr
0.81	NTRSO	Northern Trust	Pair Corr
0.84	SOJE	Southern Company	Pair Corr
0.71	UAMY	United States Antimony Buyout Trend	Pair Corr
0.87	ESCA	Escalade Incorporated	Pair Corr

Moving against Sandstorm Stock

0.89	GCMGW	GCM Grosvenor	Pair Corr
0.87	PBCRY	Bank Central Asia	Pair Corr
0.75	PBCRF	PT Bank Central	Pair Corr
0.74	MAPSW	WM Technology	Pair Corr
0.71	ADVWW	Advantage Solutions	Pair Corr
0.39	PCTTW	PureCycle Technologies	Pair Corr

Related Correlations Analysis

	ORLA	NG	KNF	PRM	CBT	SSRM	CGAU	USLM	SXT	SMG
ORLA		0.74	0.48	-0.35	0.76	0.95	0.89	-0.37	0.16	0.86	ORLA
NG	0.74		0.51	0.03	0.49	0.78	0.59	-0.13	0.15	0.59	NG
KNF	0.48	0.51		-0.04	0.6	0.58	0.45	-0.48	-0.03	0.69	KNF
PRM	-0.35	0.03	-0.04		-0.18	-0.4	-0.36	0.68	0.15	-0.35	PRM
CBT	0.76	0.49	0.6	-0.18		0.73	0.88	-0.37	0.2	0.91	CBT
SSRM	0.95	0.78	0.58	-0.4	0.73		0.84	-0.47	0.08	0.85	SSRM
CGAU	0.89	0.59	0.45	-0.36	0.88	0.84		-0.39	0.15	0.91	CGAU
USLM	-0.37	-0.13	-0.48	0.68	-0.37	-0.47	-0.39		0.08	-0.5	USLM
SXT	0.16	0.15	-0.03	0.15	0.2	0.08	0.15	0.08		0.16	SXT
SMG	0.86	0.59	0.69	-0.35	0.91	0.85	0.91	-0.5	0.16		SMG
	ORLA	NG	KNF	PRM	CBT	SSRM	CGAU	USLM	SXT	SMG

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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

SSRM	+ 0.95	ORLA
SMG	+ 0.91	CBT
SMG	+ 0.91	CGAU
CGAU	+ 0.89	ORLA
CGAU	+ 0.88	CBT
SMG	+ 0.86	ORLA

High negative correlations

SMG	- 0.5	USLM
USLM	- 0.48	KNF
USLM	- 0.47	SSRM
SSRM	- 0.4	PRM
USLM	- 0.39	CGAU
USLM	- 0.37	CBT

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	3.42	0.72	0.13	1.07	4.44	(3.49)	8.01	(8.21)	27.40
NG	3.75	0.37	0.08	0.28	5.23	(3.96)	8.92	(7.39)	33.05
KNF	2.29	0.21	0.12	0.20	2.37	(2.70)	4.93	(3.57)	19.90
PRM	1.40	(0.09)	(0.03)	0.02	2.16	(1.25)	2.70	(2.61)	10.14
CBT	1.43	0.38	0.18	(4.78)	1.22	(1.70)	4.36	(2.21)	13.59
SSRM	3.19	0.51	0.12	0.54	3.87	(3.51)	7.23	(6.54)	27.20
CGAU	2.50	0.84	0.15	(1.33)	3.58	(2.69)	5.69	(5.34)	26.35
USLM	1.69	(0.22)	0.00	(0.03)	0.00	0.00	3.17	(3.59)	10.78
SXT	1.36	(0.02)	(0.02)	0.08	1.77	(1.44)	2.90	(2.57)	8.59
SMG	1.38	0.37	0.20	0.59	1.29	(1.49)	4.16	(2.68)	7.91

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.

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