Cameco Corp Correlations

CCJ Stock

USD 93.84 0.00 0.00%

The current 90-days correlation between Cameco Corp and Imperial Oil is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Cameco Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Cameco Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Cameco Corp Correlation With Market

Modest diversification

The correlation between Cameco Corp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cameco Corp and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cameco Stock

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

For more information on how to buy Cameco Stock please use our How to buy in Cameco Stock guide.

Moving together with Cameco Stock

0.76	688416	Zbit Semiconductor	Pair Corr
0.86	DNN	Denison Mines Corp	Pair Corr
0.82	UEC	Uranium Energy Corp Sell-off Trend	Pair Corr
0.8	HNRG	Hallador Energy Earnings Call Today	Pair Corr
0.73	URU	URU Metals	Pair Corr
0.65	GS	Goldman Sachs Group Sell-off Trend	Pair Corr
0.74	CVI	CVR Energy	Pair Corr
0.81	INVX	Innovex International,	Pair Corr
0.77	SSLLF	Siltronic AG	Pair Corr
0.7	BHR-PD	Braemar Hotels Resorts	Pair Corr
0.8	TSLA	Tesla Inc	Pair Corr
0.61	DRDGF	Drdgold	Pair Corr
0.78	XYL	Xylem Inc	Pair Corr
0.76	PATH	Uipath Inc	Pair Corr
0.64	BLNK	Blink Charging	Pair Corr
0.77	CLSK	CleanSpark	Pair Corr

Moving against Cameco Stock

0.81	BISI	Bisichi Mining PLC	Pair Corr
0.74	MGMA	Metro Global Media	Pair Corr
0.66	RGVNF	Regent Ventures	Pair Corr
0.45	DOCKF	Beyond Medical Techn	Pair Corr
0.37	0A4Y	AIM ImmunoTech	Pair Corr
0.43	MPXOF	MPX International Corp	Pair Corr
0.37	TCI	Transcontinental Realty	Pair Corr

Related Correlations Analysis

	IMO	OXY	OKE	LNG	SU	FANG	BKR	TRP	MPLX	ET
IMO		0.32	-0.12	-0.02	0.9	0.31	0.82	0.45	0.39	0.03	IMO
OXY	0.32		0.82	0.88	0.54	0.26	0.11	0.36	0.11	0.7	OXY
OKE	-0.12	0.82		0.9	0.16	0.15	-0.31	0.07	0.08	0.78	OKE
LNG	-0.02	0.88	0.9		0.22	0.19	-0.2	0.27	-0.11	0.67	LNG
SU	0.9	0.54	0.16	0.22		0.24	0.7	0.54	0.38	0.22	SU
FANG	0.31	0.26	0.15	0.19	0.24		0.44	0.41	-0.04	-0.06	FANG
BKR	0.82	0.11	-0.31	-0.2	0.7	0.44		0.61	0.2	-0.27	BKR
TRP	0.45	0.36	0.07	0.27	0.54	0.41	0.61		-0.34	-0.27	TRP
MPLX	0.39	0.11	0.08	-0.11	0.38	-0.04	0.2	-0.34		0.5	MPLX
ET	0.03	0.7	0.78	0.67	0.22	-0.06	-0.27	-0.27	0.5		ET
	IMO	OXY	OKE	LNG	SU	FANG	BKR	TRP	MPLX	ET

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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

SU	+ 0.9	IMO
LNG	+ 0.9	OKE
LNG	+ 0.88	OXY
BKR	+ 0.82	IMO
OKE	+ 0.82	OXY
ET	+ 0.78	OKE

High negative correlations

MPLX	- 0.34	TRP
BKR	- 0.31	OKE
ET	- 0.27	TRP
ET	- 0.27	BKR
BKR	- 0.2	LNG
OKE	- 0.12	IMO

Risk-Adjusted Indicators

There is a big difference between Cameco Stock performing well and Cameco Corp 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 Cameco Corp'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
IMO	1.16	0.11	0.04	0.30	1.19	(1.22)	2.45	(2.11)	6.82
OXY	1.35	(0.12)	0.00	(0.11)	0.00	0.00	2.76	(3.48)	12.35
OKE	0.98	(0.20)	0.00	(0.18)	0.00	0.00	1.73	(2.46)	5.11
LNG	0.77	(0.18)	0.00	11.57	0.00	0.00	1.17	(1.73)	4.73
SU	0.99	0.12	0.05	0.49	0.88	(1.13)	2.41	(1.53)	5.91
FANG	1.36	(0.03)	(0.03)	0.05	1.78	(1.42)	2.89	(3.15)	8.88
BKR	1.23	0.09	0.04	0.20	1.75	(1.16)	2.92	(3.25)	9.17
TRP	0.73	0.08	(0.01)	1.21	0.85	(0.76)	1.53	(1.26)	4.65
MPLX	0.70	0.02	(0.06)	0.15	0.73	(0.85)	1.75	(1.16)	4.44
ET	0.67	(0.10)	0.00	(0.11)	0.00	0.00	1.73	(1.45)	3.98

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