Silvercorp Metals Correlations

SVM Stock

CAD 17.36 0.11 0.64%

The current 90-days correlation between Silvercorp Metals and Aya Gold Silver is 0.71 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Silvercorp Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Silvercorp Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Silvercorp Metals Correlation With Market

Very poor diversification

The correlation between Silvercorp Metals and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Silvercorp Metals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Silvercorp Stock

0.99	AG	First Majestic Silver	Pair Corr
0.89	IE	Ivanhoe Energy	Pair Corr
0.97	ORE	Orezone Gold Corp	Pair Corr
0.77	FDR	Flinders Resources	Pair Corr
0.89	FDY	Faraday Copper Corp	Pair Corr
0.7	DCM	Data Communications	Pair Corr
0.77	ENB-PFC	Enbridge Pref 11	Pair Corr
0.88	FVL	Freegold Ventures	Pair Corr
0.78	SCOT	Scottie Resources Corp	Pair Corr
0.86	GRT-UN	Granite Real Estate	Pair Corr
0.82	CJT	Cargojet	Pair Corr
0.9	CS	Capstone Mining Corp	Pair Corr
0.64	TECT	Tectonic Metals	Pair Corr
0.63	GKO	Geekco Technologies Corp	Pair Corr

Moving against Silvercorp Stock

0.87	NFLX	Netflix Inc CDR	Pair Corr
0.73	MSFT	Microsoft Corp CDR	Pair Corr
0.73	MSFT	Microsoft CDR	Pair Corr
0.71	AAPL	Apple Inc CDR	Pair Corr
0.71	AAPL	Apple CDR	Pair Corr
0.31	NVDA	NVIDIA CDR	Pair Corr
0.31	NVDA	Nvidia CDR	Pair Corr

Related Correlations Analysis

	AYA	AII	LIF	VNP	TKO	VZLA	ALS	FOM	APM
AYA		0.87	0.84	-0.18	0.96	0.96	0.85	0.92	0.93	AYA
AII	0.87		0.64	-0.22	0.88	0.86	0.79	0.91	0.77	AII
LIF	0.84	0.64		-0.17	0.8	0.85	0.75	0.78	0.86	LIF
VNP	-0.18	-0.22	-0.17		-0.05	-0.22	0.07	-0.07	-0.38	VNP
TKO	0.96	0.88	0.8	-0.05		0.94	0.91	0.97	0.85	TKO
VZLA	0.96	0.86	0.85	-0.22	0.94		0.88	0.92	0.93	VZLA
ALS	0.85	0.79	0.75	0.07	0.91	0.88		0.93	0.74	ALS
FOM	0.92	0.91	0.78	-0.07	0.97	0.92	0.93		0.81	FOM
APM	0.93	0.77	0.86	-0.38	0.85	0.93	0.74	0.81		APM
	AYA	AII	LIF	VNP	TKO	VZLA	ALS	FOM	APM

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

FOM	+ 0.97	TKO
TKO	+ 0.96	AYA
VZLA	+ 0.96	AYA
VZLA	+ 0.94	TKO
APM	+ 0.93	AYA
APM	+ 0.93	VZLA

High negative correlations

APM	- 0.38	VNP
VZLA	- 0.22	VNP
VNP	- 0.22	AII
VNP	- 0.18	AYA
VNP	- 0.17	LIF
FOM	- 0.07	VNP

Risk-Adjusted Indicators

There is a big difference between Silvercorp Stock performing well and Silvercorp Metals 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 Silvercorp Metals' 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
AYA	3.70	0.98	0.27	0.87	3.18	(4.40)	8.53	(5.50)	18.97
AII	4.33	0.87	0.20	1.33	3.89	(5.50)	9.41	(7.42)	20.82
LIF	0.79	0.10	0.06	0.41	0.80	(0.86)	1.59	(1.32)	6.10
VNP	2.47	0.08	0.00	(0.30)	2.68	(2.79)	4.40	(4.50)	16.43
TKO	2.58	1.04	0.32	1.41	2.33	(3.24)	6.34	(3.66)	17.43
VZLA	2.73	0.73	0.18	0.90	3.11	(3.07)	7.68	(4.09)	27.38
ALS	1.63	0.35	0.14	0.49	1.95	(1.75)	3.88	(2.78)	16.64
FOM	2.47	1.16	0.54	5.86	1.30	(3.23)	7.18	(2.56)	13.97
APM	3.57	0.59	0.14	0.61	3.97	(4.10)	8.04	(6.72)	24.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Silvercorp Metals 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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