Royal Gold Correlations
| RGLD Stock | USD 124.58 0.39 0.31% |
The correlation of Royal 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Royal Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Royal Gold 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.
Very weak diversification
The correlation between Royal Gold and NYA is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Royal Gold and NYA in the same portfolio, assuming nothing else is changed.
Royal |
The ability to find closely correlated positions to Royal 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 Royal 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 Royal 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 Royal Gold to buy it.
Moving together with Royal Stock
| 0.91 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.85 | AG | First Majestic Silver Financial Report 2nd of May 2024 | PairCorr |
| 0.7 | AU | AngloGold Ashanti plc Financial Report 28th of June 2024 | PairCorr |
| 0.82 | DC | Dakota Gold Corp | PairCorr |
| 0.68 | FF | FutureFuel Corp | PairCorr |
| 0.89 | HL | Hecla Mining Financial Report 8th of May 2024 | PairCorr |
| 0.92 | IE | Ivanhoe Electric Financial Report 20th of May 2024 | PairCorr |
| 0.85 | NG | NovaGold Resources | PairCorr |
Moving against Royal Stock
| 0.57 | X | United States Steel Earnings Call Tomorrow | PairCorr |
| 0.49 | VALE | Vale SA ADR Aggressive Push | PairCorr |
| 0.47 | NC | NACCO Industries | PairCorr |
Related Correlations Analysis
| 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
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Risk-Adjusted Indicators
There is a big difference between Royal Stock performing well and Royal 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 Royal 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WPM | 1.52 | 0.17 | 0.08 | 0.23 | 1.89 | 3.61 | 10.45 | |||
| AEM | 1.42 | 0.37 | 0.22 | 0.41 | 1.42 | 3.11 | 7.19 | |||
| SAND | 1.97 | 0.17 | 0.09 | 0.18 | 2.24 | 4.00 | 12.64 | |||
| OR | 1.43 | 0.18 | 0.07 | 0.97 | 1.47 | 3.28 | 10.21 | |||
| FNV | 1.40 | 0.13 | 0.09 | 0.20 | 1.35 | 2.80 | 6.48 | |||
| PAAS | 2.18 | 0.39 | 0.20 | 0.29 | 1.92 | 4.74 | 11.32 | |||
| SSRM | 3.09 | (0.81) | 0.00 | (0.09) | 0.00 | 5.33 | 58.05 | |||
| DRD | 2.31 | 0.08 | 0.05 | 0.12 | 2.69 | 5.50 | 17.15 | |||
| AGI | 1.67 | 0.24 | 0.16 | 0.22 | 1.59 | 4.24 | 10.51 | |||
| SA | 2.59 | 0.51 | 0.24 | 0.28 | 2.28 | 5.54 | 25.33 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Royal 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.Did you try this?
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Royal Gold Corporate Directors
Royal Gold corporate directors refer to members of a Royal Gold board of directors. The board of directors generally takes responsibility for the Royal Gold's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Royal Gold's board members must vote for the resolution. The Royal Gold board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Christopher Thompson | Independent Director | Profile | |
| Ronald Vance | Director | Profile | |
| Craig Haase | Independent Director | Profile | |
| Kevin McArthur | Independent Director | Profile |
Already Invested in Royal Gold?
The danger of trading Royal Gold 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 Royal Gold 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 Royal Gold. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Royal Gold 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 Royal Gold is a strong investment it is important to analyze Royal Gold'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 Royal Gold's future performance. For an informed investment choice regarding Royal Stock, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Royal Gold. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in bureau of economic analysis. For information on how to trade Royal Stock refer to our How to Trade Royal Stock guide.You can also try the Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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When running Royal Gold's price analysis, check to measure Royal Gold'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 Royal Gold is operating at the current time. Most of Royal Gold's value examination focuses on studying past and present price action to predict the probability of Royal Gold's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Royal Gold's price. Additionally, you may evaluate how the addition of Royal Gold to your portfolios can decrease your overall portfolio volatility.
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Is Royal Gold's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Royal Gold. If investors know Royal will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Royal Gold listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 0.142 | Dividend Share 0.6 | Earnings Share 3.63 | Revenue Per Share 9.842 | Quarterly Revenue Growth 0.059 |
The market value of Royal Gold is measured differently than its book value, which is the value of Royal that is recorded on the company's balance sheet. Investors also form their own opinion of Royal Gold's value that differs from its market value or its book value, called intrinsic value, which is Royal Gold's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Royal Gold's market value can be influenced by many factors that don't directly affect Royal Gold's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Royal Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if Royal Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Royal Gold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.