Austin Gold Correlations

AUST Stock

USD 1.68 0.10 5.62%

The current 90-days correlation between Austin Gold Corp and Sitka Gold Corp is -0.06 (i.e., Good diversification). The correlation of Austin 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Austin Gold Correlation With Market

Good diversification

The correlation between Austin Gold Corp and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Austin Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Austin Gold Corp. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Austin Stock

0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.83	AG	First Majestic Silver	Pair Corr
0.92	IE	Ivanhoe Electric	Pair Corr
0.89	OR	Osisko Gold Ro	Pair Corr
0.64	RS	Reliance Steel Aluminum	Pair Corr
0.69	WS	Worthington Steel	Pair Corr
0.63	AEM	Agnico Eagle Mines	Pair Corr
0.86	DRD	DRDGOLD Limited ADR	Pair Corr
0.61	FNV	Franco Nevada	Pair Corr
0.62	GAU	Galiano Gold	Pair Corr
0.7	HBM	Hudbay Minerals	Pair Corr

Moving against Austin Stock

0.64	NG	NovaGold Resources Buyout Trend	Pair Corr
0.55	DOW	Dow Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.51	BAK	Braskem SA Class	Pair Corr
0.36	CE	Celanese Sell-off Trend	Pair Corr
0.35	HYMCW	Hycroft Mining Holding	Pair Corr
0.79	HLP	Hongli Group Ordinary	Pair Corr
0.53	ERO	Ero Copper Corp	Pair Corr
0.42	NEM	Newmont Goldcorp Corp	Pair Corr
0.38	ODV	Osisko Development Corp	Pair Corr
0.36	FRD	Friedman Industries	Pair Corr

Related Correlations Analysis

	ASWRF	SITKF	DC	AIRRF	ORZCF	RIOFF	NRRSF	FSM	SAND	IAUX
ASWRF		-0.31	-0.1	-0.12	0.25	-0.11	-0.34	0.02	-0.17	0.13	ASWRF
SITKF	-0.31		0.42	0.86	0.23	0.84	0.86	0.44	0.55	0.16	SITKF
DC	-0.1	0.42		0.47	0.38	0.46	0.26	0.55	0.72	0.33	DC
AIRRF	-0.12	0.86	0.47		0.44	0.81	0.72	0.51	0.65	0.42	AIRRF
ORZCF	0.25	0.23	0.38	0.44		0.46	-0.08	0.58	0.59	0.69	ORZCF
RIOFF	-0.11	0.84	0.46	0.81	0.46		0.74	0.67	0.64	0.28	RIOFF
NRRSF	-0.34	0.86	0.26	0.72	-0.08	0.74		0.3	0.28	-0.12	NRRSF
FSM	0.02	0.44	0.55	0.51	0.58	0.67	0.3		0.72	0.4	FSM
SAND	-0.17	0.55	0.72	0.65	0.59	0.64	0.28	0.72		0.53	SAND
IAUX	0.13	0.16	0.33	0.42	0.69	0.28	-0.12	0.4	0.53		IAUX
	ASWRF	SITKF	DC	AIRRF	ORZCF	RIOFF	NRRSF	FSM	SAND	IAUX

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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

AIRRF	+ 0.86	SITKF
NRRSF	+ 0.86	SITKF
RIOFF	+ 0.84	SITKF
RIOFF	+ 0.81	AIRRF
NRRSF	+ 0.74	RIOFF
SAND	+ 0.72	DC

High negative correlations

NRRSF	- 0.34	ASWRF
SITKF	- 0.31	ASWRF
SAND	- 0.17	ASWRF
IAUX	- 0.12	NRRSF
AIRRF	- 0.12	ASWRF
RIOFF	- 0.11	ASWRF

Risk-Adjusted Indicators

There is a big difference between Austin Stock performing well and Austin 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 Austin 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
ASWRF	2.56	0.02	0.00	0.15	4.17	(12.22)	10.00	(9.52)	51.39
SITKF	5.72	1.28	0.17	2.30	4.99	(8.63)	16.00	(9.09)	32.64
DC	2.72	0.00	0.03	0.13	2.88	(3.43)	7.32	(5.35)	14.93
AIRRF	2.43	0.08	0.01	0.26	2.79	(3.52)	5.13	(4.88)	15.14
ORZCF	2.66	(0.07)	0.00	(0.11)	0.00	0.00	5.36	(5.66)	22.11
RIOFF	2.56	0.18	0.02	0.70	2.53	(4.26)	5.13	(4.88)	16.67
NRRSF	6.98	2.16	0.19	(1.38)	5.50	(12.90)	18.16	(10.99)	55.16
FSM	2.39	0.02	0.00	0.15	3.28	(2.40)	4.66	(5.13)	17.32
SAND	1.69	0.04	(0.02)	0.28	2.42	(1.73)	2.99	(2.56)	15.60
IAUX	3.67	(0.99)	0.00	(0.65)	0.00	0.00	6.25	(4.67)	72.89

Austin Gold Corporate Management

BSc CA	Chief Officer	Profile
Donna Moroney	Corporate Secretary	Profile
Robert Hatch	Vice Exploration	Profile
Grant Bond	Chief Officer	Profile
Dennis Com	Pres Director	Profile
PEng MASc	VP Director	Profile

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