Sprott Junior Correlations

URNJ Etf

24.15 0.01 0.04%

The current 90-days correlation between Sprott Junior Uranium and Sprott Junior Copper is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sprott Junior moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Junior Uranium moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sprott Junior Correlation With Market

Weak diversification

The correlation between Sprott Junior Uranium and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Junior Uranium 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 Sprott Junior Uranium. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Sprott Etf

0.72	EV	Mast Global Battery	Pair Corr
0.75	XLB	Materials Select Sector	Pair Corr
0.86	VAW	Vanguard Materials Index	Pair Corr
0.85	XME	SPDR SP Metals	Pair Corr
0.63	PHO	Invesco Water Resources	Pair Corr
0.76	FXZ	First Trust Materials	Pair Corr
0.65	FIW	First Trust Water	Pair Corr
1.0	URNM	Sprott Uranium Miners	Pair Corr
0.83	IYM	iShares Basic Materials	Pair Corr
0.66	VR	VR	Pair Corr
0.81	PWER	Macquarie ETF Trust	Pair Corr
0.78	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.69	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.86	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.66	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.68	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.84	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.69	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.64	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Moving against Sprott Etf

0.59	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.45	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.4	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	COPJ	SETM	LITP	URNM	U-UN
COPJ		0.86	0.71	0.76	0.67	COPJ
SETM	0.86		0.94	0.95	0.76	SETM
LITP	0.71	0.94		0.87	0.68	LITP
URNM	0.76	0.95	0.87		0.83	URNM
U-UN	0.67	0.76	0.68	0.83		U-UN
	COPJ	SETM	LITP	URNM	U-UN

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Sprott Junior Constituents Risk-Adjusted Indicators

There is a big difference between Sprott Etf performing well and Sprott Junior ETF 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 Sprott Junior'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
COPJ	1.55	(0.05)	(0.02)	0.07	1.91	(1.59)	3.27	(2.82)	8.70
SETM	1.71	0.06	0.03	0.18	1.84	(1.89)	4.53	(3.26)	10.75
LITP	2.53	0.12	0.04	0.23	2.86	(2.79)	7.08	(4.85)	19.46
URNM	1.97	0.19	0.10	0.27	1.99	(2.31)	5.47	(3.40)	14.77
U-UN	1.82	0.19	0.03	(1.58)	1.99	(2.00)	4.05	(3.35)	11.43

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