Seabridge Gold Correlations

SEA Stock

CAD 41.00 2.50 6.49%

The current 90-days correlation between Seabridge Gold and Centerra Gold is 0.71 (i.e., Poor 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

Poor diversification

The correlation between Seabridge Gold and DJI is 0.74 (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.

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

0.87	AG	First Majestic Silver	Pair Corr
0.85	IE	Ivanhoe Energy	Pair Corr
0.74	ORE	Orezone Gold Corp	Pair Corr
0.71	FDR	Flinders Resources	Pair Corr
0.75	FDY	Faraday Copper Corp	Pair Corr
0.77	BNP	BNP Paribas CDR	Pair Corr
0.74	CITI	CITIGROUP CDR	Pair Corr
0.83	RY	Royal Bank	Pair Corr
0.82	TD	Toronto Dominion Bank	Pair Corr

Related Correlations Analysis

	CG	WDO	PPTA	EDR	MAU	AAUC	ERD	FVI	USA
CG		0.77	0.89	0.97	0.96	0.97	0.79	0.91	0.97	CG
WDO	0.77		0.9	0.82	0.62	0.7	0.88	0.85	0.7	WDO
PPTA	0.89	0.9		0.93	0.77	0.84	0.82	0.91	0.86	PPTA
EDR	0.97	0.82	0.93		0.91	0.93	0.84	0.94	0.95	EDR
MAU	0.96	0.62	0.77	0.91		0.97	0.67	0.85	0.94	MAU
AAUC	0.97	0.7	0.84	0.93	0.97		0.71	0.87	0.93	AAUC
ERD	0.79	0.88	0.82	0.84	0.67	0.71		0.77	0.74	ERD
FVI	0.91	0.85	0.91	0.94	0.85	0.87	0.77		0.86	FVI
USA	0.97	0.7	0.86	0.95	0.94	0.93	0.74	0.86		USA
	CG	WDO	PPTA	EDR	MAU	AAUC	ERD	FVI	USA

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	2.04	0.59	0.16	0.68	2.78	(2.15)	5.10	(3.44)	21.48
WDO	2.13	0.08	0.03	0.16	2.74	(2.23)	3.95	(4.21)	16.11
PPTA	3.58	0.36	0.08	0.32	4.68	(3.86)	8.05	(7.37)	29.81
EDR	3.73	0.51	0.13	0.29	4.22	(4.08)	9.39	(5.64)	28.86
MAU	2.72	1.01	0.32	0.95	2.53	(3.28)	7.74	(3.31)	23.31
AAUC	2.09	1.05	0.47	1.17	1.29	(2.58)	6.26	(2.51)	15.55
ERD	2.66	(0.08)	(0.01)	0.03	3.20	(2.98)	6.02	(4.89)	25.72
FVI	2.37	0.31	0.10	0.30	3.13	(2.64)	4.97	(3.60)	24.56
USA	4.22	0.98	0.21	0.63	4.46	(4.73)	8.70	(6.89)	32.50

Be your own money manager

Our tools can tell you how much better you can do entering a position in Seabridge Gold without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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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.

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