Vista Gold Correlations

VGZ Stock

USD 0.64 0.02 3.03%

The current 90-days correlation between Vista Gold and International Tower Hill is -0.02 (i.e., Good diversification). The correlation of Vista Gold 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.

Vista Gold Correlation With Market

Modest diversification

The correlation between Vista Gold and DJI is 0.2 (i.e., Modest 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.

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

For more information on how to buy Vista Stock please use our How to Invest in Vista Gold guide.

Moving together with Vista Stock

0.65	PKX	POSCO Holdings	Pair Corr
0.79	AU	AngloGold Ashanti plc	Pair Corr
0.76	CE	Celanese	Pair Corr
0.74	FF	FutureFuel Corp	Pair Corr
0.8	HL	Hecla Mining Aggressive Push	Pair Corr
0.67	OR	Osisko Gold Ro	Pair Corr
0.63	SA	Seabridge Gold	Pair Corr
0.62	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.67	VOXR	Vox Royalty Corp	Pair Corr

Moving against Vista Stock

0.39

ZKIN

ZK International Upward Rally

Pair Corr

Related Correlations Analysis

	THM	HMY	AAU	SA	IAG
THM		0.7	0.3	0.77	0.3	THM
HMY	0.7		0.5	0.6	0.65	HMY
AAU	0.3	0.5		-0.14	0.51	AAU
SA	0.77	0.6	-0.14		0.06	SA
IAG	0.3	0.65	0.51	0.06		IAG
	THM	HMY	AAU	SA	IAG

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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

SA	+ 0.77	THM
HMY	+ 0.7	THM
IAG	+ 0.65	HMY
SA	+ 0.6	HMY
IAG	+ 0.51	AAU
AAU	+ 0.5	HMY

High negative correlations

- 0.14

AAU

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
THM	3.62	(0.49)	0.00	(3.85)	0.00	0.00	7.55	(10.42)	22.27
HMY	2.33	(0.04)	(0.03)	0.00	2.85	(2.58)	5.01	(4.47)	12.24
AAU	2.63	(0.06)	(0.01)	0.01	3.59	(8.70)	8.33	(7.69)	16.67
SA	2.05	(0.74)	0.00	(1.39)	0.00	0.00	2.61	(4.73)	11.44
IAG	2.60	0.09	0.01	0.43	3.11	(2.90)	5.34	(5.30)	15.21

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