Nexa Resources Correlations

NEXA Stock

USD 5.99 0.09 1.53%

The current 90-days correlation between Nexa Resources SA and Materion is 0.26 (i.e., Modest diversification). The correlation of Nexa Resources 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.

Nexa Resources Correlation With Market

Modest diversification

The correlation between Nexa Resources SA and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexa Resources SA 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 Nexa Resources SA. 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.

Moving together with Nexa Stock

0.7	GRO	Brazil Potash Corp	Pair Corr
0.64	LITM	Snow Lake Resources	Pair Corr

Moving against Nexa Stock

0.54	TMC	TMC the metals	Pair Corr
0.5	MP	MP Materials Corp	Pair Corr
0.45	RIO	Rio Tinto ADR Sell-off Trend	Pair Corr
0.41	VALE	Vale SA ADR	Pair Corr
0.72	USARW	USARW Symbol Change	Pair Corr
0.55	FMSTW	Foremost Lithium Resource	Pair Corr
0.45	USGO	US GoldMining Common	Pair Corr
0.43	TMCWW	TMC the metals	Pair Corr

Related Correlations Analysis

	MTRN	FURY	ESKYF	EMX	SKE	IPX	CMP	LGO	SLI	GLG
MTRN		0.13	-0.76	-0.55	0.23	0.88	0.84	0.62	0.85	0.0	MTRN
FURY	0.13		0.03	0.35	0.64	0.06	-0.1	0.63	0.12	0.0	FURY
ESKYF	-0.76	0.03		0.71	0.04	-0.73	-0.75	-0.32	-0.74	0.0	ESKYF
EMX	-0.55	0.35	0.71		0.48	-0.58	-0.61	-0.04	-0.49	0.0	EMX
SKE	0.23	0.64	0.04	0.48		0.14	0.05	0.66	0.09	0.0	SKE
IPX	0.88	0.06	-0.73	-0.58	0.14		0.78	0.55	0.81	0.0	IPX
CMP	0.84	-0.1	-0.75	-0.61	0.05	0.78		0.36	0.83	0.0	CMP
LGO	0.62	0.63	-0.32	-0.04	0.66	0.55	0.36		0.52	0.0	LGO
SLI	0.85	0.12	-0.74	-0.49	0.09	0.81	0.83	0.52		0.0	SLI
GLG	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GLG
	MTRN	FURY	ESKYF	EMX	SKE	IPX	CMP	LGO	SLI	GLG

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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

IPX	+ 0.88	MTRN
SLI	+ 0.85	MTRN
CMP	+ 0.84	MTRN
SLI	+ 0.83	CMP
SLI	+ 0.81	IPX
CMP	+ 0.78	IPX

High negative correlations

ESKYF	- 0.76	MTRN
CMP	- 0.75	ESKYF
SLI	- 0.74	ESKYF
IPX	- 0.73	ESKYF
CMP	- 0.61	EMX
IPX	- 0.58	EMX

Risk-Adjusted Indicators

There is a big difference between Nexa Stock performing well and Nexa Resources 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 Nexa Resources' 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
MTRN	1.94	(0.19)	0.00	(0.23)	0.00	0.00	3.46	(4.04)	14.02
FURY	2.07	0.04	0.03	0.37	2.36	(3.64)	5.13	(5.13)	18.43
ESKYF	6.12	0.72	0.09	(21.31)	6.07	(9.91)	12.50	(11.76)	39.29
EMX	1.79	0.39	0.19	0.98	1.89	(2.22)	4.55	(2.84)	11.45
SKE	2.86	0.40	0.13	0.36	2.87	(3.47)	7.55	(4.54)	19.98
IPX	3.30	(1.07)	0.00	(0.92)	0.00	0.00	5.58	(7.95)	25.03
CMP	2.59	(0.07)	0.00	(0.27)	0.00	0.00	5.70	(4.57)	15.12
LGO	3.58	(0.03)	0.00	(0.10)	0.00	0.00	9.76	(6.22)	22.95
SLI	3.14	(0.29)	0.00	(0.35)	0.00	0.00	7.21	(5.97)	18.40
GLG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Nexa Resources Corporate Management

Valdecir Botassini	Senior Vice President Project Development & Execution	Profile
Diego Cabrera	Director	Profile
Leonardo Coelho	Senior Vice President - Mining	Profile
Edward Ruiz	Independent Director	Profile

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