Western Copper Correlations

WRN Stock

USD 1.14 0.01 0.88%

The current 90-days correlation between Western Copper and EMX Royalty Corp is 0.02 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Western Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Western Copper and moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Western Copper Correlation With Market

Modest diversification

The correlation between Western Copper and and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Copper and and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Copper and. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving against Western Stock

0.38	LGO	Largo Resources	Pair Corr
0.48	AVLNF	Avalon Advanced Materials Earnings Call Tomorrow	Pair Corr
0.39	LITM	Snow Lake Resources	Pair Corr

Related Correlations Analysis

	FURY	EMX	NKGFF	AAGFF	VZLA	USAS	GLG	MURMF	NBYCF	MUNMF
FURY		0.9	0.28	0.88	0.66	0.67	-0.46	0.49	-0.3	0.0	FURY
EMX	0.9		0.26	0.88	0.69	0.73	-0.47	0.49	-0.23	0.0	EMX
NKGFF	0.28	0.26		0.03	0.45	-0.18	0.49	0.07	0.17	0.42	NKGFF
AAGFF	0.88	0.88	0.03		0.55	0.87	-0.67	0.5	-0.43	-0.27	AAGFF
VZLA	0.66	0.69	0.45	0.55		0.45	0.02	0.28	0.21	0.32	VZLA
USAS	0.67	0.73	-0.18	0.87	0.45		-0.66	0.43	-0.39	-0.32	USAS
GLG	-0.46	-0.47	0.49	-0.67	0.02	-0.66		-0.36	0.64	0.55	GLG
MURMF	0.49	0.49	0.07	0.5	0.28	0.43	-0.36		-0.3	-0.17	MURMF
NBYCF	-0.3	-0.23	0.17	-0.43	0.21	-0.39	0.64	-0.3		0.47	NBYCF
MUNMF	0.0	0.0	0.42	-0.27	0.32	-0.32	0.55	-0.17	0.47		MUNMF
	FURY	EMX	NKGFF	AAGFF	VZLA	USAS	GLG	MURMF	NBYCF	MUNMF

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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

EMX	+ 0.9	FURY
AAGFF	+ 0.88	FURY
AAGFF	+ 0.88	EMX
USAS	+ 0.87	AAGFF
USAS	+ 0.73	EMX
VZLA	+ 0.69	EMX

High negative correlations

GLG	- 0.67	AAGFF
GLG	- 0.66	USAS
GLG	- 0.47	EMX
GLG	- 0.46	FURY
NBYCF	- 0.43	AAGFF
NBYCF	- 0.39	USAS

Risk-Adjusted Indicators

There is a big difference between Western Stock performing well and Western Copper 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 Western Copper'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
FURY	2.70	0.14	0.01	0.80	3.17	(3.48)	5.00	(4.44)	17.52
EMX	1.65	(0.05)	(0.06)	(0.01)	1.85	(2.11)	4.44	(2.99)	9.74
NKGFF	4.08	(0.15)	0.00	0.37	0.00	0.00	8.00	(11.11)	29.72
AAGFF	4.91	0.37	0.08	0.32	4.88	(6.60)	10.26	(8.33)	26.99
VZLA	2.87	(0.15)	0.00	(0.05)	0.00	0.00	5.67	(5.13)	19.16
USAS	4.26	0.57	0.10	0.52	4.30	(6.16)	14.29	(9.52)	32.51
GLG	2.93	(0.71)	0.00	(6.41)	0.00	0.00	6.67	(8.20)	19.27
MURMF	7.38	0.99	0.03	(0.30)	9.42	(13.53)	21.00	(19.29)	83.04
NBYCF	9.34	0.41	0.01	(0.16)	10.57	(22.25)	25.00	(20.00)	83.33
MUNMF	1.61	(0.29)	0.00	5.99	0.00	0.00	7.14	(7.14)	14.84

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