Fortuna Silver Correlations

FSM Stock

USD 9.78 0.24 2.52%

The current 90-days correlation between Fortuna Silver Mines and Endeavour Silver Corp is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Fortuna Silver moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Fortuna Silver Mines moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Fortuna Silver Correlation With Market

Modest diversification

The correlation between Fortuna Silver Mines and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fortuna Silver Mines and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Fortuna Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fortuna Silver Mines. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Fortuna Stock

0.93

AGI

Alamos Gold

Pair Corr

Moving against Fortuna Stock

0.65	TTST	Tata Steel Limited	Pair Corr
0.61	300881	Shengtak New Material	Pair Corr
0.54	601003	Liuzhou Iron Steel	Pair Corr
0.47	600569	Anyang Iron Steel	Pair Corr
0.35	600231	Lingyuan Iron Steel	Pair Corr
0.35	002743	Anhui Fuhuang Steel	Pair Corr
0.32	002996	Chongqing Shunbo Aluminum	Pair Corr
0.66	000761	Bengang Steel Plates	Pair Corr
0.57	603995	Zhejiang Yongjin Metal	Pair Corr
0.48	600307	Gansu Jiu Steel	Pair Corr
0.48	600399	Fushun Special Steel	Pair Corr
0.46	600022	Shandong Iron	Pair Corr
0.4	601388	Ye Chiu Metal	Pair Corr

Related Correlations Analysis

	EXK	PPTA	AUGO	BCC	MEOH	CGAU	ELVR	TGLS	USAS	TTAM
EXK		0.83	0.68	-0.23	-0.26	0.77	0.61	-0.27	0.83	0.34	EXK
PPTA	0.83		0.65	-0.43	-0.41	0.84	0.69	-0.41	0.93	0.36	PPTA
AUGO	0.68	0.65		0.06	0.15	0.81	0.8	-0.36	0.78	0.54	AUGO
BCC	-0.23	-0.43	0.06		0.63	-0.4	-0.33	0.66	-0.31	0.2	BCC
MEOH	-0.26	-0.41	0.15	0.63		-0.23	-0.19	0.43	-0.19	0.12	MEOH
CGAU	0.77	0.84	0.81	-0.4	-0.23		0.91	-0.7	0.9	0.58	CGAU
ELVR	0.61	0.69	0.8	-0.33	-0.19	0.91		-0.73	0.76	0.58	ELVR
TGLS	-0.27	-0.41	-0.36	0.66	0.43	-0.7	-0.73		-0.43	-0.42	TGLS
USAS	0.83	0.93	0.78	-0.31	-0.19	0.9	0.76	-0.43		0.53	USAS
TTAM	0.34	0.36	0.54	0.2	0.12	0.58	0.58	-0.42	0.53		TTAM
	EXK	PPTA	AUGO	BCC	MEOH	CGAU	ELVR	TGLS	USAS	TTAM

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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

USAS	+ 0.93	PPTA
ELVR	+ 0.91	CGAU
USAS	+ 0.9	CGAU
CGAU	+ 0.84	PPTA
PPTA	+ 0.83	EXK
USAS	+ 0.83	EXK

High negative correlations

TGLS	- 0.73	ELVR
TGLS	- 0.7	CGAU
USAS	- 0.43	TGLS
BCC	- 0.43	PPTA
TTAM	- 0.42	TGLS
TGLS	- 0.41	PPTA

Risk-Adjusted Indicators

There is a big difference between Fortuna Stock performing well and Fortuna 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 Fortuna 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
EXK	3.89	0.51	0.12	0.32	4.29	(4.52)	10.37	(8.09)	28.97
PPTA	3.59	0.74	0.15	0.56	4.01	(3.78)	7.73	(7.37)	24.42
AUGO	2.87	0.60	0.17	0.74	3.10	(3.40)	7.17	(4.92)	18.48
BCC	1.61	(0.24)	0.00	(0.11)	0.00	0.00	3.04	(3.16)	9.20
MEOH	1.96	(0.06)	(0.02)	0.02	2.09	(2.36)	3.39	(3.60)	21.42
CGAU	2.11	0.64	0.18	0.68	2.84	(2.29)	5.00	(4.87)	16.21
ELVR	4.64	1.65	0.37	1.16	3.79	(5.61)	10.09	(8.06)	22.09
TGLS	1.61	(0.52)	0.00	(0.41)	0.00	0.00	3.01	(5.17)	9.61
USAS	3.78	1.01	0.22	0.56	4.13	(4.37)	8.82	(6.99)	22.91
TTAM	1.61	(0.01)	0.01	0.06	1.82	(1.66)	3.34	(2.70)	7.62

Fortuna Silver Corporate Management

Alfredo Sillau	Independent Director	Profile
Linda Desaulniers	Corporate Officer	Profile
BSc BSc	Chief Officer	Profile
Eric PGeo	Senior Services	Profile
Kate Harcourt	Director	Profile
PGradDip BAppScGeol	Senior Exploration	Profile

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