Trilogy Metals Correlations

TMQ Stock

USD 4.43 0.04 0.89%

The current 90-days correlation between Trilogy Metals and Lithium Argentina AG is 0.58 (i.e., Very weak 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

Modest diversification

The correlation between Trilogy Metals and DJI is 0.29 (i.e., Modest 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.

Build AI portfolio with Trilogy Stock

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 state.

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

Moving together with Trilogy Stock

0.68	MKL	ATEA	Pair Corr
0.76	IE	Ivanhoe Electric Earnings Call This Week	Pair Corr

Moving against Trilogy Stock

0.33	6WX	CN LONGYUAN POWER	Pair Corr
0.53	BF5B	BROWN NON VTG Earnings Call This Week	Pair Corr
0.41	BS1	BASSETT FURN IND	Pair Corr
0.35	SON1	Sony Group Corp	Pair Corr
0.32	GEO	Empire Metals Limited	Pair Corr
0.53	UGN	GENSOURCE POTASH	Pair Corr
0.41	ENT	Enterprise Metals	Pair Corr
0.33	EO5	EOG RESOURCES	Pair Corr
0.31	BF5B	BROWN NON VTG Earnings Call This Week	Pair Corr

Related Correlations Analysis

	LAR	NEXA	CMP	SLI	GTI	SGML	CPAC	TMC	GPRE	NB
LAR		0.88	0.88	0.43	-0.2	0.64	0.66	0.3	0.63	0.45	LAR
NEXA	0.88		0.92	0.27	-0.44	0.48	0.79	0.19	0.74	0.33	NEXA
CMP	0.88	0.92		0.28	-0.41	0.49	0.74	0.22	0.7	0.37	CMP
SLI	0.43	0.27	0.28		0.54	0.47	0.33	0.84	-0.26	0.61	SLI
GTI	-0.2	-0.44	-0.41	0.54		0.19	-0.19	0.44	-0.74	0.18	GTI
SGML	0.64	0.48	0.49	0.47	0.19		0.62	0.23	0.26	0.16	SGML
CPAC	0.66	0.79	0.74	0.33	-0.19	0.62		0.13	0.52	0.06	CPAC
TMC	0.3	0.19	0.22	0.84	0.44	0.23	0.13		-0.26	0.76	TMC
GPRE	0.63	0.74	0.7	-0.26	-0.74	0.26	0.52	-0.26		-0.06	GPRE
NB	0.45	0.33	0.37	0.61	0.18	0.16	0.06	0.76	-0.06		NB
	LAR	NEXA	CMP	SLI	GTI	SGML	CPAC	TMC	GPRE	NB

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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

CMP	+ 0.92	NEXA
NEXA	+ 0.88	LAR
CMP	+ 0.88	LAR
TMC	+ 0.84	SLI
CPAC	+ 0.79	NEXA
NB	+ 0.76	TMC

High negative correlations

GPRE	- 0.74	GTI
GTI	- 0.44	NEXA
GTI	- 0.41	CMP
GPRE	- 0.26	TMC
GPRE	- 0.26	SLI
GTI	- 0.2	LAR

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
LAR	3.66	0.75	0.18	0.58	4.07	(4.22)	8.81	(7.49)	23.79
NEXA	3.36	1.17	0.29	1.14	3.27	(3.92)	7.80	(6.54)	18.98
CMP	2.76	0.47	0.11	0.36	4.32	(2.94)	5.66	(4.23)	23.55
SLI	3.44	0.31	0.06	0.34	4.79	(3.32)	6.94	(7.84)	22.57
GTI	8.61	0.48	0.03	1.42	14.30	(9.66)	19.74	(10.95)	128.11
SGML	6.22	0.86	0.11	1.59	6.81	(7.09)	15.91	(13.89)	32.73
CPAC	2.49	0.96	0.39	(0.94)	1.45	(3.25)	3.62	(3.20)	57.41
TMC	5.62	0.34	0.06	0.21	6.85	(5.69)	13.46	(11.50)	37.07
GPRE	2.54	0.42	0.15	0.33	2.81	(2.74)	5.84	(4.21)	19.59
NB	5.13	0.11	0.02	0.15	6.33	(5.22)	12.26	(11.07)	35.70

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