Wheaton Precious Correlations
| WPM Stock | 5,035 160.00 3.28% |
The current 90-days correlation between Wheaton Precious Metals and Kinnevik Investment AB is 0.11 (i.e., Average diversification). The correlation of Wheaton Precious 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.
Wheaton Precious Correlation With Market
Average diversification
The correlation between Wheaton Precious Metals and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wheaton Precious Metals and DJI in the same portfolio, assuming nothing else is changed.
Wheaton |
The ability to find closely correlated positions to Wheaton Precious could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Wheaton Precious 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 Wheaton Precious - 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 Wheaton Precious Metals to buy it.
Moving together with Wheaton Stock
| 0.69 | ANTO | Antofagasta PLC | PairCorr |
| 0.7 | CAML | Central Asia Metals | PairCorr |
| 0.65 | SMSN | Samsung Electronics | PairCorr |
| 0.67 | SMSD | Samsung Electronics | PairCorr |
| 0.76 | RIGD | Reliance Industries | PairCorr |
Moving against Wheaton Stock
| 0.69 | 0QYR | Panasonic Corp Earnings Call Today | PairCorr |
| 0.67 | 0R1W | Walmart | PairCorr |
| 0.66 | TYT | Toyota Motor Corp Earnings Call This Week | PairCorr |
| 0.62 | BRFI | BlackRock Frontiers Earnings Call This Week | PairCorr |
| 0.6 | HSBK | Halyk Bank | PairCorr |
| 0.56 | AMRQ | Amaroq Minerals | PairCorr |
| 0.49 | DEC | Diversified Energy | PairCorr |
| 0.44 | FXPO | Ferrexpo PLC | PairCorr |
| 0.35 | MNKS | Monks Investment Trust | PairCorr |
Related Correlations Analysis
| 0.64 | 0.8 | 0.27 | 0.66 | 0.8 | 0.65 | EEE | ||
| 0.64 | 0.62 | -0.21 | 0.69 | 0.76 | 0.88 | 0K76 | ||
| 0.8 | 0.62 | 0.3 | 0.4 | 0.59 | 0.57 | 0RH1 | ||
| 0.27 | -0.21 | 0.3 | -0.33 | 0.01 | -0.3 | GRX | ||
| 0.66 | 0.69 | 0.4 | -0.33 | 0.82 | 0.75 | BRFI | ||
| 0.8 | 0.76 | 0.59 | 0.01 | 0.82 | 0.77 | MAFL | ||
| 0.65 | 0.88 | 0.57 | -0.3 | 0.75 | 0.77 | 0NI1 | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Wheaton Stock performing well and Wheaton Precious 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 Wheaton Precious' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EEE | 2.68 | 0.63 | 0.21 | (17.77) | 2.05 | 7.69 | 14.19 | |||
| 0K76 | 1.02 | 0.10 | 0.06 | 0.25 | 0.96 | 2.50 | 5.67 | |||
| 0RH1 | 1.38 | 0.19 | 0.07 | 0.97 | 1.59 | 3.67 | 7.88 | |||
| GRX | 1.36 | 0.05 | (0.01) | 13.06 | 1.83 | 4.35 | 12.56 | |||
| BRFI | 0.73 | 0.13 | 0.05 | 1.60 | 0.68 | 2.03 | 4.24 | |||
| MAFL | 2.07 | 0.59 | 0.12 | (0.76) | 1.77 | 6.90 | 15.23 | |||
| 0NI1 | 1.61 | 0.54 | 0.30 | 0.52 | 1.31 | 3.86 | 13.52 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Wheaton Precious 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.Did you try this?
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Wheaton Precious Corporate Management
Elected by the shareholders, the Wheaton Precious' board of directors comprises two types of representatives: Wheaton Precious inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Wheaton. The board's role is to monitor Wheaton Precious' management team and ensure that shareholders' interests are well served. Wheaton Precious' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Wheaton Precious' outside directors are responsible for providing unbiased perspectives on the board's policies.
| Jamie Beirnes | VP Controller | Profile | |
| Haytham Hodaly | Senior Development | Profile | |
| Curt Bernardi | Senior Secretary | Profile | |
| Simona Antolak | Vice Affairs | Profile |