SSR Mining Correlations

SSRM Stock

CAD 31.17 0.55 1.73%

The current 90-days correlation between SSR Mining and OceanaGold is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SSR Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SSR Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SSR Mining Correlation With Market

Modest diversification

The correlation between SSR Mining and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SSR Mining and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to SSR Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace SSR Mining 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 SSR Mining - 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 SSR Mining to buy it.

Moving together with SSR Stock

0.65

LIO

Lion One Metals

Pair Corr

Moving against SSR Stock

0.69	LDB-P	LDB Capital Corp	Pair Corr
0.57	FFH-PK	Fairfax Financial	Pair Corr
0.48	KEC	Kiwetinohk Energy Corp	Pair Corr
0.45	INFM	Infinico Metals Corp	Pair Corr
0.4	PRM	Big Pharma Split	Pair Corr
0.35	MKZ-UN	Mackenzie Mstr Un	Pair Corr
0.35	IGM	IGM Financial	Pair Corr
0.33	FFH-PI	Fairfax Financial	Pair Corr
0.54	DRT	DIRTT Environmental	Pair Corr
0.5	ENB-PFC	Enbridge Pref 11	Pair Corr
0.41	BAMI	Blue Ant Media	Pair Corr
0.38	WPK	Winpak	Pair Corr
0.37	SAP	Saputo Inc	Pair Corr
0.37	VAU	Viva Gold Corp	Pair Corr
0.34	PD	Precision Drilling	Pair Corr
0.33	GRID	Tantalus Systems Holding	Pair Corr
0.33	GMG	Graphene Manufacturing	Pair Corr

Related Correlations Analysis

	OGC	PRU	ELD	NGD	DPM	TXG	GMIN	BTO	WFG	ARTG
OGC		0.79	0.84	0.84	0.62	0.87	0.58	-0.1	-0.34	0.5	OGC
PRU	0.79		0.81	0.86	0.69	0.75	0.52	-0.3	-0.4	0.49	PRU
ELD	0.84	0.81		0.91	0.81	0.72	0.81	0.0	-0.25	0.7	ELD
NGD	0.84	0.86	0.91		0.7	0.75	0.68	-0.13	-0.35	0.6	NGD
DPM	0.62	0.69	0.81	0.7		0.47	0.91	-0.1	-0.41	0.64	DPM
TXG	0.87	0.75	0.72	0.75	0.47		0.42	0.02	-0.14	0.51	TXG
GMIN	0.58	0.52	0.81	0.68	0.91	0.42		0.05	-0.28	0.73	GMIN
BTO	-0.1	-0.3	0.0	-0.13	-0.1	0.02	0.05		0.79	0.08	BTO
WFG	-0.34	-0.4	-0.25	-0.35	-0.41	-0.14	-0.28	0.79		-0.09	WFG
ARTG	0.5	0.49	0.7	0.6	0.64	0.51	0.73	0.08	-0.09		ARTG
	OGC	PRU	ELD	NGD	DPM	TXG	GMIN	BTO	WFG	ARTG

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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

NGD	+ 0.91	ELD
GMIN	+ 0.91	DPM
TXG	+ 0.87	OGC
NGD	+ 0.86	PRU
ELD	+ 0.84	OGC
NGD	+ 0.84	OGC

High negative correlations

WFG	- 0.41	DPM
WFG	- 0.4	PRU
WFG	- 0.35	NGD
WFG	- 0.34	OGC
BTO	- 0.3	PRU
WFG	- 0.28	GMIN

Risk-Adjusted Indicators

There is a big difference between SSR Stock performing well and SSR Mining 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 SSR Mining'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
OGC	2.30	0.44	0.11	0.75	3.06	(2.34)	4.33	(4.28)	15.43
PRU	1.85	0.24	0.07	0.54	2.48	(1.98)	4.01	(3.65)	15.02
ELD	2.15	0.32	0.09	0.38	3.01	(2.25)	5.17	(5.27)	16.31
NGD	2.66	0.36	0.10	0.38	3.44	(2.95)	6.80	(5.41)	20.09
DPM	1.87	0.51	0.18	1.10	2.17	(2.11)	4.23	(3.32)	13.98
TXG	2.40	0.26	0.07	0.42	3.07	(2.73)	5.60	(5.23)	16.80
GMIN	2.94	0.64	0.17	0.69	3.25	(3.40)	6.60	(6.06)	18.89
BTO	2.40	(0.12)	0.00	(0.03)	0.00	0.00	4.76	(6.05)	15.63
WFG	1.34	(0.25)	0.00	(0.32)	0.00	0.00	2.69	(3.00)	7.72
ARTG	2.16	0.08	0.01	0.33	2.79	(2.31)	5.07	(5.33)	13.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in SSR Mining 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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