Seabridge Gold Correlations
The current 90-days correlation between Seabridge Gold and Centerra Gold is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Seabridge Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Seabridge Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Seabridge Gold Correlation With Market
Significant diversification
The correlation between Seabridge Gold and DJI is 0.03 (i.e., Significant 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.
Seabridge |
The ability to find closely correlated positions to Seabridge Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Seabridge Gold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Seabridge Gold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Seabridge Gold to buy it.
Moving together with Seabridge Stock
Moving against Seabridge Stock
Related Correlations Analysis
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CG | 2.41 | 0.57 | 0.14 | 0.49 | 3.46 | 5.10 | 21.48 | |||
| WDO | 2.40 | 0.25 | 0.07 | 0.32 | 3.33 | 4.53 | 14.30 | |||
| PPTA | 3.83 | 0.59 | 0.10 | (0.56) | 4.85 | 8.05 | 29.81 | |||
| EDR | 3.85 | 0.64 | 0.10 | (0.61) | 5.28 | 8.46 | 26.82 | |||
| MAU | 3.12 | 1.16 | 0.23 | (0.63) | 3.60 | 7.34 | 24.36 | |||
| AAUC | 1.49 | 0.57 | 0.29 | 3.69 | 1.26 | 3.95 | 12.09 | |||
| ERD | 2.84 | 0.27 | 0.05 | (0.49) | 3.53 | 6.02 | 25.72 | |||
| FVI | 2.88 | 0.42 | 0.08 | (0.29) | 3.95 | 6.36 | 19.12 | |||
| USA | 4.33 | 1.27 | 0.21 | (1.55) | 4.95 | 8.70 | 32.50 |
Seabridge 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 Seabridge Gold stock to make a market-neutral strategy. Peer analysis of Seabridge Gold could also be used in its relative valuation, which is a method of valuing Seabridge Gold by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Seabridge Gold Corporate Management
Elected by the shareholders, the Seabridge Gold's board of directors comprises two types of representatives: Seabridge Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Seabridge. The board's role is to monitor Seabridge Gold's management team and ensure that shareholders' interests are well served. Seabridge Gold's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Seabridge Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Charles BA | General VP | Profile | |
| BA CPA | VP CFO | Profile | |
| Tracey PEng | Senior Services | Profile | |
| Gloria Trujillo | Assistant Corporate Secretary | Profile | |
| Julie Rachynski | Vice Resources | Profile |