Steppe Gold Correlations

STGO Stock

CAD 1.65 0.17 9.34%

The current 90-days correlation between Steppe Gold and Heliostar Metals is 0.56 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Steppe Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Steppe Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Steppe Gold Correlation With Market

Very weak diversification

The correlation between Steppe Gold and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Steppe Gold and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Steppe 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 Steppe 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 Steppe 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 Steppe Gold to buy it.

Moving together with Steppe Stock

0.69	IE	Ivanhoe Energy	Pair Corr
0.65	PSLV	Sprott Physical Silver	Pair Corr
0.61	AZT	Aztec Minerals Corp	Pair Corr
0.63	TUF	Honey Badger Silver	Pair Corr

Moving against Steppe Stock

0.32

ENB

Enbridge

Pair Corr

Related Correlations Analysis

	HSTR	ELE	MKO	ITH	ODV	JAG	TI	ARG	SBI	NFG
HSTR		0.67	0.68	0.64	0.31	0.77	0.78	0.72	0.51	0.38	HSTR
ELE	0.67		0.93	0.9	0.48	0.87	0.81	0.96	0.66	0.05	ELE
MKO	0.68	0.93		0.95	0.63	0.87	0.81	0.93	0.57	0.02	MKO
ITH	0.64	0.9	0.95		0.74	0.86	0.71	0.86	0.59	-0.04	ITH
ODV	0.31	0.48	0.63	0.74		0.61	0.26	0.41	0.42	-0.05	ODV
JAG	0.77	0.87	0.87	0.86	0.61		0.76	0.88	0.79	0.29	JAG
TI	0.78	0.81	0.81	0.71	0.26	0.76		0.85	0.59	0.27	TI
ARG	0.72	0.96	0.93	0.86	0.41	0.88	0.85		0.68	0.16	ARG
SBI	0.51	0.66	0.57	0.59	0.42	0.79	0.59	0.68		0.51	SBI
NFG	0.38	0.05	0.02	-0.04	-0.05	0.29	0.27	0.16	0.51		NFG
	HSTR	ELE	MKO	ITH	ODV	JAG	TI	ARG	SBI	NFG

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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

ARG	+ 0.96	ELE
ITH	+ 0.95	MKO
MKO	+ 0.93	ELE
ARG	+ 0.93	MKO
ITH	+ 0.9	ELE
ARG	+ 0.88	JAG

High negative correlations

NFG	- 0.05	ODV
NFG	- 0.04	ITH

Risk-Adjusted Indicators

There is a big difference between Steppe Stock performing well and Steppe 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 Steppe 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
HSTR	2.87	0.06	0.02	0.07	4.10	(2.90)	5.32	(7.48)	17.84
ELE	3.28	0.70	0.15	0.87	4.11	(3.55)	6.18	(7.33)	25.24
MKO	1.99	0.60	0.24	0.64	2.14	(2.33)	4.41	(4.72)	10.85
ITH	4.99	1.02	0.20	0.53	5.05	(6.41)	12.62	(9.80)	29.91
ODV	2.82	0.37	0.10	0.25	3.65	(2.94)	7.16	(6.07)	20.16
JAG	3.01	0.46	0.10	0.29	4.09	(3.04)	6.61	(9.16)	20.23
TI	5.30	0.81	0.15	0.79	4.90	(6.26)	10.85	(7.25)	36.38
ARG	2.41	0.78	0.18	0.46	3.06	(2.57)	6.27	(6.00)	18.84
SBI	3.21	0.41	0.09	0.82	4.30	(3.29)	6.06	(7.38)	19.64
NFG	3.72	0.20	0.04	0.20	4.68	(3.86)	10.06	(8.61)	31.55

Be your own money manager

Our tools can tell you how much better you can do entering a position in Steppe 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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Steppe Gold Corporate Management

Elected by the shareholders, the Steppe Gold's board of directors comprises two types of representatives: Steppe Gold inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Steppe. The board's role is to monitor Steppe Gold's management team and ensure that shareholders' interests are well served. Steppe 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, Steppe Gold's outside directors are responsible for providing unbiased perspectives on the board's policies.

Purevraash Duzeenyam	Chief Gold	Profile
Orgodol Togoo	Chief LLC	Profile
Gregory Wood	VP Operations	Profile
Enkhtuvshin Khishigsuren	Vice Exploration	Profile

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