Vista Gold Correlations

VGZ Stock

CAD 3.97 0.05 1.24%

The current 90-days correlation between Vista Gold and Gold Reserve is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Vista Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Vista Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Vista Gold Correlation With Market

Poor diversification

The correlation between Vista Gold and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vista Gold and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Vista Stock

0.91	AG	First Majestic Silver	Pair Corr
0.61	IE	Ivanhoe Energy Earnings Call Tomorrow	Pair Corr
0.89	ORE	Orezone Gold Corp	Pair Corr
0.81	FDY	Faraday Copper Corp	Pair Corr
0.63	BBD-B	Bombardier	Pair Corr
0.78	BCE	BCE Inc	Pair Corr
0.65	WN	George Weston Limited Earnings Call This Week	Pair Corr
0.7	TRP	TC Energy Corp	Pair Corr
0.77	MGA	Mega Uranium	Pair Corr
0.79	SU	Suncor Energy	Pair Corr
0.78	LNR	Linamar Earnings Call This Week	Pair Corr
0.69	SLF-PJ	Sun Life Financial	Pair Corr
0.63	OYL	CGX Energy	Pair Corr
0.71	PSLV	Sprott Physical Silver	Pair Corr
0.82	NIM	Nicola Mining	Pair Corr
0.76	CJT	Cargojet	Pair Corr
0.64	TUF	Honey Badger Silver	Pair Corr
0.85	ATX	ATEX Resources	Pair Corr
0.73	NAR	North Arrow Minerals	Pair Corr
0.8	HLF	High Liner Foods Earnings Call Today	Pair Corr
0.78	BPF-UN	Boston Pizza Royalties	Pair Corr
0.8	MU	Micron Technology	Pair Corr
0.71	PESO	Pesorama	Pair Corr
0.83	TUO	Teuton Resources Corp	Pair Corr
0.74	BN-PC	Brookfield	Pair Corr
0.85	GKO	Geekco Technologies Corp	Pair Corr

Moving against Vista Stock

0.64

TMX Group Limited

Pair Corr

Related Correlations Analysis

	GRZ	AUXX	BYN	WRLG	AUMB	MMY	RDS	VROY
GRZ		0.73	0.86	0.84	0.61	0.71	-0.19	-0.14	GRZ
AUXX	0.73		0.62	0.76	0.54	0.57	-0.46	-0.61	AUXX
BYN	0.86	0.62		0.85	0.78	0.73	-0.05	0.1	BYN
WRLG	0.84	0.76	0.85		0.79	0.81	-0.33	-0.1	WRLG
AUMB	0.61	0.54	0.78	0.79		0.68	-0.12	0.11	AUMB
MMY	0.71	0.57	0.73	0.81	0.68		-0.06	0.1	MMY
RDS	-0.19	-0.46	-0.05	-0.33	-0.12	-0.06		0.47	RDS
VROY	-0.14	-0.61	0.1	-0.1	0.11	0.1	0.47		VROY
	GRZ	AUXX	BYN	WRLG	AUMB	MMY	RDS	VROY

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

BYN	+ 0.86	GRZ
WRLG	+ 0.85	BYN
WRLG	+ 0.84	GRZ
MMY	+ 0.81	WRLG
AUMB	+ 0.79	WRLG
AUMB	+ 0.78	BYN

High negative correlations

VROY	- 0.61	AUXX
RDS	- 0.46	AUXX
RDS	- 0.33	WRLG
RDS	- 0.19	GRZ
VROY	- 0.14	GRZ
RDS	- 0.12	AUMB

Risk-Adjusted Indicators

There is a big difference between Vista Stock performing well and Vista 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 Vista 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
GRZ	5.70	2.08	0.41	1.92	3.91	(7.00)	11.22	(7.96)	103.24
AUXX	3.85	1.67	0.35	3.20	3.18	(5.41)	12.24	(3.91)	30.46
BYN	3.57	0.71	0.15	0.89	4.20	(3.90)	9.68	(6.98)	20.95
WRLG	2.75	0.63	0.17	0.90	2.99	(3.38)	7.69	(4.12)	17.68
AUMB	4.89	0.46	0.09	0.30	5.65	(5.56)	12.38	(10.00)	30.53
MMY	3.32	0.27	0.06	0.29	4.64	(3.45)	5.83	(6.30)	26.45
RDS	3.44	0.00	0.01	0.09	4.20	(4.08)	7.95	(6.67)	22.93
VROY	3.43	(0.27)	0.00	(0.10)	0.00	0.00	6.58	(9.37)	30.33

Be your own money manager

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