McEwen Mining Correlations

Stocks . USA . 
Stock . McEwen Mining
MUX Stock  USD 9.43  0.18  1.87%   
The current 90-days correlation between McEwen Mining and Endeavour Silver Corp is 0.74 (i.e., Poor diversification). The correlation of McEwen Mining 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.

McEwen Mining Correlation With Market

Good diversification

The correlation between McEwen Mining 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 McEwen Mining and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with McEwen Stock
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in McEwen Mining. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in employment.
For more information on how to buy McEwen Stock please use our How to Invest in McEwen Mining guide.

Moving together with McEwen Stock

  0.7HL Hecla MiningPairCorr
  0.62VOXR Vox Royalty CorpPairCorr
  0.7ASM Avino Silver GoldPairCorr
  0.9BVN Compania de MinasPairCorr
  0.94MTA Metalla Royalty Streaming Earnings Call This WeekPairCorr
  0.86PLG Platinum Group MetalsPairCorr
  0.77LODE Comstock MiningPairCorr
  0.81SBSW Sibanye GoldPairCorr
  0.82TFPM Triple Flag PreciousPairCorr
  0.85B Barrick Mining Symbol ChangePairCorr
  0.75X United States Steel Sell-off TrendPairCorr
  0.9AG First Majestic SilverPairCorr
  0.68AU AngloGold Ashanti plcPairCorr
  0.65CF CF Industries HoldingsPairCorr
  0.86DC Dakota Gold CorpPairCorr
  0.76IE Ivanhoe ElectricPairCorr
  0.62MP MP Materials Corp TrendingPairCorr
  0.64OR Osisko Gold RoPairCorr
  0.93SA Seabridge GoldPairCorr

Moving against McEwen Stock

  0.55HYMCW Hycroft Mining HoldingPairCorr
  0.41AMR Alpha MetallurgicalPairCorr

Related Correlations Analysis

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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   
SAND
+ 0.83
NGD
IAG
+ 0.81
SAND
IAG
+ 0.66
FSM
FSM
+ 0.64
EXK
NGD
+ 0.61
FSM
IAG
+ 0.56
NGD
  
High negative correlations   
SAND
- 0.04
EXK

Risk-Adjusted Indicators

There is a big difference between McEwen Stock performing well and McEwen Mining 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 McEwen Mining'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.

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