Allied Gold Correlations

AAUC Stock

25.16 1.45 6.12%

The current 90-days correlation between Allied Gold and Aris Mining is 0.7 (i.e., Poor diversification). The correlation of Allied 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.

Allied Gold Correlation With Market

Weak diversification

The correlation between Allied Gold and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allied Gold and DJI in the same portfolio, assuming nothing else is changed.

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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allied 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 private.

For information on how to trade Allied Stock refer to our How to Trade Allied Stock guide.

Moving together with Allied Stock

0.88	B	Barrick Mining Symbol Change	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.82	RS	Reliance Steel Aluminum	Pair Corr
0.96	SA	Seabridge Gold	Pair Corr
0.86	WS	Worthington Steel	Pair Corr
0.94	AGI	Alamos Gold	Pair Corr
0.84	DRD	DRDGOLD Limited ADR	Pair Corr
0.88	EXK	Endeavour Silver Corp Aggressive Push	Pair Corr
0.91	FSM	Fortuna Silver Mines	Pair Corr
0.74	ZEUS	Olympic Steel	Pair Corr
0.67	LODE	Comstock Mining	Pair Corr
0.9	ARMN	Aris Mining	Pair Corr
0.67	FINN	First National	Pair Corr
0.63	NAUFF	NevGold Corp	Pair Corr
0.63	DB	Deutsche Bank AG	Pair Corr
0.78	FTV	Fortive Corp	Pair Corr
0.82	ADAMI	New York Mortgage Symbol Change	Pair Corr
0.78	MRK	Merck Company	Pair Corr

Moving against Allied Stock

0.71	CTDD	Qwest Corp 6	Pair Corr
0.66	CTBB	Qwest Corp NT	Pair Corr
0.63	MAPSW	WM Technology	Pair Corr
0.62	ADVWW	Advantage Solutions	Pair Corr
0.54	PCTTW	PureCycle Technologies	Pair Corr
0.66	PG	Procter Gamble	Pair Corr
0.63	MSFT	Microsoft	Pair Corr
0.48	HPQ	HP Inc	Pair Corr
0.45	HD	Home Depot	Pair Corr

Related Correlations Analysis

	ARMN	FMC	SKE	NGVT	DRD	CC	USAR	IOSP	ELVR	MTX
ARMN		-0.61	0.95	0.57	0.82	-0.41	-0.57	0.6	0.72	0.58	ARMN
FMC	-0.61		-0.44	0.11	-0.27	0.78	0.86	0.01	-0.24	0.14	FMC
SKE	0.95	-0.44		0.67	0.88	-0.28	-0.34	0.67	0.72	0.67	SKE
NGVT	0.57	0.11	0.67		0.54	0.21	0.04	0.76	0.57	0.76	NGVT
DRD	0.82	-0.27	0.88	0.54		-0.13	-0.15	0.63	0.73	0.69	DRD
CC	-0.41	0.78	-0.28	0.21	-0.13		0.65	0.3	0.05	0.24	CC
USAR	-0.57	0.86	-0.34	0.04	-0.15	0.65		-0.08	-0.32	0.08	USAR
IOSP	0.6	0.01	0.67	0.76	0.63	0.3	-0.08		0.72	0.8	IOSP
ELVR	0.72	-0.24	0.72	0.57	0.73	0.05	-0.32	0.72		0.72	ELVR
MTX	0.58	0.14	0.67	0.76	0.69	0.24	0.08	0.8	0.72		MTX
	ARMN	FMC	SKE	NGVT	DRD	CC	USAR	IOSP	ELVR	MTX

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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

SKE	+ 0.95	ARMN
DRD	+ 0.88	SKE
USAR	+ 0.86	FMC
DRD	+ 0.82	ARMN
MTX	+ 0.8	IOSP
CC	+ 0.78	FMC

High negative correlations

FMC	- 0.61	ARMN
USAR	- 0.57	ARMN
SKE	- 0.44	FMC
CC	- 0.41	ARMN
USAR	- 0.34	SKE
ELVR	- 0.32	USAR

Risk-Adjusted Indicators

There is a big difference between Allied Stock performing well and Allied 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 Allied 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
ARMN	2.57	0.70	0.18	0.67	3.07	(2.76)	6.86	(5.88)	15.66
FMC	2.84	(1.03)	0.00	(0.42)	0.00	0.00	4.71	(5.71)	49.48
SKE	2.93	0.56	0.14	0.57	3.49	(3.12)	6.65	(6.42)	25.06
NGVT	1.91	0.06	0.03	0.12	3.10	(2.00)	3.83	(2.82)	18.74
DRD	2.92	0.22	0.05	0.31	4.05	(2.90)	5.11	(8.22)	16.60
CC	2.75	(0.52)	0.00	(0.08)	0.00	0.00	5.44	(6.22)	16.17
USAR	6.38	(0.42)	0.00	(0.01)	0.00	0.00	14.99	(13.06)	37.41
IOSP	1.05	(0.06)	(0.04)	0.02	1.36	(1.05)	2.56	(2.37)	7.02
ELVR	4.61	1.10	0.26	0.67	3.79	(5.46)	10.09	(8.06)	21.28
MTX	1.27	(0.04)	(0.02)	0.05	1.59	(1.25)	2.73	(2.66)	7.32

Allied Gold Corporate Management

Gwennael Guillen	Chief Officer	Profile
Johannes Stoltz	Chief Officer	Profile
Jason CFA	Chief Officer	Profile
Gerardo FernandezTobar	Chief Officer	Profile
MBA LLB	Chief Secretary	Profile

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