Trilogy Metals Correlations

TMQ Stock

USD 1.35 0.10 8.00%

The current 90-days correlation between Trilogy Metals and EMX Royalty Corp is -0.02 (i.e., Good diversification). The correlation of Trilogy Metals is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Trilogy Metals Correlation With Market

Average diversification

The correlation between Trilogy Metals and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trilogy Metals and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Trilogy Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

To learn how to invest in Trilogy Stock, please use our How to Invest in Trilogy Metals guide.

Moving together with Trilogy Stock

0.61

TMC

TMC the metals

Pair Corr

Moving against Trilogy Stock

0.52	LZM	Lifezone Metals	Pair Corr
0.38	LAR	Lithium Argentina Symbol Change	Pair Corr
0.36	PLL	Piedmont Lithium Earnings Call This Week	Pair Corr
0.31	ELBM	Electra Battery Materials	Pair Corr
0.51	NEXA	Nexa Resources SA	Pair Corr
0.48	IE	Ivanhoe Electric	Pair Corr

Related Correlations Analysis

	FURY	EMX	WRN	NKGFF	AAGFF	VZLA	NTCPF	FLMMF	MLXEF	ADMLF
FURY		0.37	0.58	0.25	0.38	0.03	0.33	0.34	0.14	0.58	FURY
EMX	0.37		0.27	0.13	0.72	0.61	0.7	-0.29	0.45	0.44	EMX
WRN	0.58	0.27		0.37	0.1	-0.2	0.23	0.51	0.16	0.37	WRN
NKGFF	0.25	0.13	0.37		0.17	0.13	0.15	-0.03	0.41	0.21	NKGFF
AAGFF	0.38	0.72	0.1	0.17		0.75	0.66	-0.52	0.62	0.42	AAGFF
VZLA	0.03	0.61	-0.2	0.13	0.75		0.55	-0.78	0.56	0.21	VZLA
NTCPF	0.33	0.7	0.23	0.15	0.66	0.55		-0.25	0.55	0.47	NTCPF
FLMMF	0.34	-0.29	0.51	-0.03	-0.52	-0.78	-0.25		-0.44	0.13	FLMMF
MLXEF	0.14	0.45	0.16	0.41	0.62	0.56	0.55	-0.44		0.28	MLXEF
ADMLF	0.58	0.44	0.37	0.21	0.42	0.21	0.47	0.13	0.28		ADMLF
	FURY	EMX	WRN	NKGFF	AAGFF	VZLA	NTCPF	FLMMF	MLXEF	ADMLF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VZLA	+ 0.75	AAGFF
AAGFF	+ 0.72	EMX
NTCPF	+ 0.7	EMX
NTCPF	+ 0.66	AAGFF
MLXEF	+ 0.62	AAGFF
VZLA	+ 0.61	EMX

High negative correlations

FLMMF	- 0.78	VZLA
FLMMF	- 0.52	AAGFF
MLXEF	- 0.44	FLMMF
FLMMF	- 0.29	EMX
FLMMF	- 0.25	NTCPF
VZLA	- 0.2	WRN

Risk-Adjusted Indicators

There is a big difference between Trilogy Stock performing well and Trilogy 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 Trilogy 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
FURY	2.64	(0.09)	0.00	(0.28)	0.00	0.00	5.41	(5.13)	18.43
EMX	1.29	0.03	0.02	(1.81)	1.49	(1.82)	2.91	(2.86)	8.15
WRN	2.20	0.00	0.00	0.00	2.72	(2.81)	4.95	(3.77)	20.61
NKGFF	4.67	0.02	0.00	0.04	5.24	(6.20)	9.52	(9.09)	29.29
AAGFF	3.91	0.28	0.05	(3.15)	4.03	(5.67)	9.38	(6.45)	22.18
VZLA	2.87	0.25	0.07	1.02	3.16	(3.13)	5.20	(4.84)	19.39
NTCPF	3.23	0.42	0.09	(1.71)	3.18	(4.69)	6.90	(6.25)	16.60
FLMMF	0.56	(0.11)	0.00	0.49	0.00	0.00	1.36	(1.58)	4.02
MLXEF	3.40	0.27	0.03	(0.44)	4.23	(7.29)	7.14	(9.68)	34.27
ADMLF	2.89	0.04	0.01	0.05	3.54	(3.23)	7.03	(5.56)	19.34

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC