Northern Dynasty Correlations

NAK Stock

USD 0.52 0.04 8.33%

The current 90-days correlation between Northern Dynasty Minerals and Vizsla Resources Corp is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Dynasty moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Dynasty Minerals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Northern Dynasty Correlation With Market

Very weak diversification

The correlation between Northern Dynasty Minerals and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Dynasty Minerals and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northern Dynasty Minerals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Northern Stock

0.68	IPX	IperionX Limited American	Pair Corr
0.61	LAC	Lithium Americas Corp	Pair Corr
0.75	NVA	Nova Minerals Limited	Pair Corr
0.85	TMQ	Trilogy Metals	Pair Corr
0.73	JAPSY	Japan Airlines	Pair Corr
0.7	NVAWW	Nova Minerals Limited Trending	Pair Corr

Moving against Northern Stock

0.86	FMST	Foremost Lithium Resource	Pair Corr
0.81	ELBM	Electra Battery Materials	Pair Corr
0.78	VALE	Vale SA ADR	Pair Corr
0.78	BHP	BHP Group Limited	Pair Corr
0.76	TMC	TMC the metals	Pair Corr
0.72	RIO	Rio Tinto ADR Sell-off Trend	Pair Corr
0.71	XPL	Solitario Exploration	Pair Corr
0.69	BYU	BAIYU Holdings	Pair Corr
0.69	WRN	Western Copper	Pair Corr
0.67	NB	NioCorp Developments	Pair Corr
0.52	NMG	Nouveau Monde Graphite	Pair Corr
0.48	FURY	Fury Gold Mines	Pair Corr
0.46	GTI	Graphjet Technology Symbol Change	Pair Corr
0.42	EMX	EMX Royalty Corp	Pair Corr
0.41	GSM	Ferroglobe PLC	Pair Corr
0.35	VZLA	Vizsla Resources Corp	Pair Corr
0.32	GRFX	Graphex Group Limited	Pair Corr
0.88	SVBL	Silver Bull Resources	Pair Corr
0.82	KNBWY	Kirin Holdings	Pair Corr
0.73	TECK	Teck Resources	Pair Corr
0.61	FMSTW	Foremost Lithium Resource	Pair Corr
0.52	ERLFF	Entree Resources	Pair Corr
0.49	DLEXY	Datalex plc	Pair Corr
0.43	IONR	ioneer American	Pair Corr
0.38	CRMLW	Critical Metals Corp	Pair Corr
0.33	LITM	Snow Lake Resources	Pair Corr
0.31	ABAT	American Battery Tec	Pair Corr

Related Correlations Analysis

	VZLA	WRN	USAS	GLG	EMX	PMMCF	SMREF	ASHXF	ZACAF	PRRSF
VZLA		0.23	0.52	0.2	0.93	0.06	0.74	-0.61	0.05	0.5	VZLA
WRN	0.23		-0.41	0.71	0.41	0.33	0.42	-0.52	0.69	0.73	WRN
USAS	0.52	-0.41		-0.52	0.43	-0.06	0.39	0.07	-0.73	-0.34	USAS
GLG	0.2	0.71	-0.52		0.3	0.23	0.36	-0.72	0.81	0.83	GLG
EMX	0.93	0.41	0.43	0.3		0.21	0.78	-0.66	0.12	0.56	EMX
PMMCF	0.06	0.33	-0.06	0.23	0.21		0.28	-0.25	0.11	0.14	PMMCF
SMREF	0.74	0.42	0.39	0.36	0.78	0.28		-0.7	0.05	0.54	SMREF
ASHXF	-0.61	-0.52	0.07	-0.72	-0.66	-0.25	-0.7		-0.5	-0.82	ASHXF
ZACAF	0.05	0.69	-0.73	0.81	0.12	0.11	0.05	-0.5		0.76	ZACAF
PRRSF	0.5	0.73	-0.34	0.83	0.56	0.14	0.54	-0.82	0.76		PRRSF
	VZLA	WRN	USAS	GLG	EMX	PMMCF	SMREF	ASHXF	ZACAF	PRRSF

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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

EMX	+ 0.93	VZLA
PRRSF	+ 0.83	GLG
ZACAF	+ 0.81	GLG
SMREF	+ 0.78	EMX
PRRSF	+ 0.76	ZACAF
SMREF	+ 0.74	VZLA

High negative correlations

PRRSF	- 0.82	ASHXF
ZACAF	- 0.73	USAS
ASHXF	- 0.72	GLG
ASHXF	- 0.7	SMREF
ASHXF	- 0.66	EMX
ASHXF	- 0.61	VZLA

Risk-Adjusted Indicators

There is a big difference between Northern Stock performing well and Northern Dynasty 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 Northern Dynasty'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
VZLA	2.80	(0.12)	0.00	(0.19)	0.00	0.00	5.20	(4.39)	14.84
WRN	1.81	(0.28)	0.00	(0.32)	0.00	0.00	2.73	(5.26)	20.61
USAS	4.54	0.84	0.16	0.59	4.11	(6.87)	14.29	(9.52)	32.51
GLG	2.93	(0.72)	0.00	(0.82)	0.00	0.00	6.67	(8.20)	19.27
EMX	1.49	(0.15)	0.00	(0.95)	0.00	0.00	3.35	(2.99)	10.84
PMMCF	4.90	(0.30)	0.00	0.16	0.00	0.00	16.67	(13.33)	53.57
SMREF	6.71	(0.49)	0.00	0.72	0.00	0.00	15.18	(13.18)	71.43
ASHXF	3.91	1.29	0.15	(10.52)	2.88	(14.19)	18.18	(7.14)	45.38
ZACAF	4.57	(0.88)	0.00	0.84	0.00	0.00	9.40	(12.95)	45.92
PRRSF	7.36	(1.76)	0.00	1.31	0.00	0.00	15.00	(21.15)	47.50

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