MAG Silver Correlations
| MQ8 Stock | EUR 11.36 0.32 2.74% |
The correlation of MAG Silver 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MAG Silver moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MAG Silver Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between MAG Silver Corp and NYA is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAG Silver Corp and NYA in the same portfolio, assuming nothing else is changed.
MAG |
The ability to find closely correlated positions to MAG Silver could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MAG Silver 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 MAG Silver - 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 MAG Silver Corp to buy it.
Moving together with MAG Stock
| 0.97 | PA2 | Pan American Silver Earnings Call This Week | PairCorr |
| 0.94 | FMV | First Majestic Silver | PairCorr |
| 0.98 | F4S | Fortuna Silver Mines | PairCorr |
| 0.91 | S9Y | Silvercorp Metals | PairCorr |
| 0.87 | DVQ1 | Dolly Varden Silver | PairCorr |
| 0.81 | SWQ | Silver Mines Limited | PairCorr |
| 0.79 | SZ71 | Americas Gold | PairCorr |
| 0.82 | 1SZ | Santacruz Silver Mining | PairCorr |
| 0.95 | L7T | UNIDOC HEALTH P Split | PairCorr |
| 0.93 | KGHA | KGHM Polska Miedz | PairCorr |
Moving against MAG Stock
| 0.77 | 9EE | ZINZINO AB B | PairCorr |
| 0.65 | E908 | Lyxor 1 | PairCorr |
| 0.55 | DBPD | Xtrackers ShortDAX | PairCorr |
| 0.44 | 9Y2 | LABOCANNA SA ZY | PairCorr |
Related Correlations Analysis
| 0.68 | -0.21 | 0.23 | -0.11 | 0.35 | 8SP | ||
| 0.68 | -0.37 | 0.15 | -0.44 | 0.68 | 39O1 | ||
| -0.21 | -0.37 | 0.21 | 0.87 | -0.29 | INVN | ||
| 0.23 | 0.15 | 0.21 | 0.38 | 0.19 | IUI1 | ||
| -0.11 | -0.44 | 0.87 | 0.38 | -0.28 | INL | ||
| 0.35 | 0.68 | -0.29 | 0.19 | -0.28 | VOW | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
|
Risk-Adjusted Indicators
There is a big difference between MAG Stock performing well and MAG Silver 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 MAG Silver'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 8SP | 1.06 | 0.00 | (0.03) | 0.08 | 1.23 | 2.16 | 6.74 | |||
| 39O1 | 5.42 | 1.31 | 0.18 | (6.70) | 5.42 | 9.40 | 67.94 | |||
| INVN | 3.08 | (0.54) | 0.00 | 1.26 | 0.00 | 6.14 | 36.27 | |||
| IUI1 | 1.14 | 0.02 | (0.03) | 1.70 | 1.57 | 2.36 | 7.44 | |||
| INL | 1.63 | (0.42) | 0.00 | 0.69 | 0.00 | 2.81 | 14.20 | |||
| VOW | 1.26 | 0.06 | (0.01) | (0.30) | 1.51 | 2.38 | 9.36 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in MAG Silver 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?
Run Equity Forecasting Now
Equity ForecastingUse basic forecasting models to generate price predictions and determine price momentum |
| All Next | Launch Module |
MAG Silver Corporate Management
Elected by the shareholders, the MAG Silver's board of directors comprises two types of representatives: MAG Silver inside directors who are chosen from within the company, and outside directors, selected externally and held independent of MAG. The board's role is to monitor MAG Silver's management team and ensure that shareholders' interests are well served. MAG Silver's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, MAG Silver's outside directors are responsible for providing unbiased perspectives on the board's policies.
| BE AccDir | CEO Pres | Profile | |
| Rubi Lapiz | Controller | Profile | |
| Michael Curlook | VP Communications | Profile | |
| W Mallory | Chief Officer | Profile | |
| Fausto Trapani | Chief Officer | Profile | |
| Jill Neff | Co Sec | Profile |
Already Invested in MAG Silver Corp?
The danger of trading MAG Silver Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of MAG Silver is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than MAG Silver. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile MAG Silver Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether MAG Silver Corp is a strong investment it is important to analyze MAG Silver's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact MAG Silver's future performance. For an informed investment choice regarding MAG Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MAG Silver Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Complementary Tools for MAG Stock analysis
When running MAG Silver's price analysis, check to measure MAG Silver's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy MAG Silver is operating at the current time. Most of MAG Silver's value examination focuses on studying past and present price action to predict the probability of MAG Silver's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MAG Silver's price. Additionally, you may evaluate how the addition of MAG Silver to your portfolios can decrease your overall portfolio volatility.
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Stocks Directory Find actively traded stocks across global markets | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |