Nouveau Monde Correlations

NMG Stock

USD 1.38 0.09 6.12%

The current 90-days correlation between Nouveau Monde Graphite and Graphite One is -0.07 (i.e., Good diversification). The correlation of Nouveau Monde 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.

Nouveau Monde Correlation With Market

Weak diversification

The correlation between Nouveau Monde Graphite and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nouveau Monde Graphite 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 Nouveau Monde Graphite. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Nouveau Stock

0.72	FMST	Foremost Lithium Resource	Pair Corr
0.81	CMP	Compass Minerals Int	Pair Corr
0.61	GRO	Brazil Potash Corp	Pair Corr
0.77	LAC	Lithium Americas Corp	Pair Corr
0.83	LAR	Lithium Argentina Symbol Change	Pair Corr
0.75	LZM	Lifezone Metals	Pair Corr
0.79	PLL	Piedmont Lithium	Pair Corr
0.87	SLI	Standard Lithium	Pair Corr
0.78	WWR	Westwater Resources	Pair Corr
0.74	IONR	ioneer American	Pair Corr
0.65	NVAWW	Nova Minerals Limited	Pair Corr
0.72	LITM	Snow Lake Resources	Pair Corr
0.83	MTRN	Materion	Pair Corr

Moving against Nouveau Stock

0.61	VALE	Vale SA ADR	Pair Corr
0.51	TMQ	Trilogy Metals	Pair Corr
0.47	EMX	EMX Royalty Corp	Pair Corr
0.39	MP	MP Materials Corp	Pair Corr
0.37	RIO	Rio Tinto ADR	Pair Corr
0.35	NAK	Northern Dynasty Minerals	Pair Corr
0.33	TMC	TMC the metals	Pair Corr
0.69	NIOBW	NioCorp Developments	Pair Corr
0.5	TMCWW	TMC the metals	Pair Corr
0.5	AU	AngloGold Ashanti plc	Pair Corr
0.42	X	United States Steel	Pair Corr
0.36	AG	First Majestic Silver	Pair Corr

Related Correlations Analysis

	MGPHF	NGPHF	GPHOF	LMRMF	IIDDY	SYAAF	FCSMF	ALTAF	VULMF	RFLXF
MGPHF		0.58	-0.37	-0.25	0.43	-0.18	-0.05	-0.05	0.22	-0.17	MGPHF
NGPHF	0.58		-0.71	-0.39	0.7	-0.53	0.08	-0.17	0.36	-0.36	NGPHF
GPHOF	-0.37	-0.71		0.72	-0.35	0.61	0.44	0.09	-0.05	0.61	GPHOF
LMRMF	-0.25	-0.39	0.72		-0.08	0.41	0.58	-0.19	0.38	0.45	LMRMF
IIDDY	0.43	0.7	-0.35	-0.08		-0.47	0.27	-0.35	0.45	-0.22	IIDDY
SYAAF	-0.18	-0.53	0.61	0.41	-0.47		0.2	0.45	-0.01	0.38	SYAAF
FCSMF	-0.05	0.08	0.44	0.58	0.27	0.2		-0.31	0.43	0.4	FCSMF
ALTAF	-0.05	-0.17	0.09	-0.19	-0.35	0.45	-0.31		-0.24	0.16	ALTAF
VULMF	0.22	0.36	-0.05	0.38	0.45	-0.01	0.43	-0.24		0.1	VULMF
RFLXF	-0.17	-0.36	0.61	0.45	-0.22	0.38	0.4	0.16	0.1		RFLXF
	MGPHF	NGPHF	GPHOF	LMRMF	IIDDY	SYAAF	FCSMF	ALTAF	VULMF	RFLXF

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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

LMRMF	+ 0.72	GPHOF
IIDDY	+ 0.7	NGPHF
SYAAF	+ 0.61	GPHOF
RFLXF	+ 0.61	GPHOF
NGPHF	+ 0.58	MGPHF
FCSMF	+ 0.58	LMRMF

High negative correlations

GPHOF	- 0.71	NGPHF
SYAAF	- 0.53	NGPHF
SYAAF	- 0.47	IIDDY
LMRMF	- 0.39	NGPHF
GPHOF	- 0.37	MGPHF
RFLXF	- 0.36	NGPHF

Risk-Adjusted Indicators

There is a big difference between Nouveau Stock performing well and Nouveau Monde 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 Nouveau Monde'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
MGPHF	7.30	0.79	0.10	1.15	7.13	(10.31)	20.00	(12.90)	52.84
NGPHF	5.58	(0.12)	0.00	0.23	0.00	0.00	18.84	(10.64)	40.53
GPHOF	2.83	0.40	0.14	(14.15)	2.86	(4.31)	7.94	(4.55)	21.53
LMRMF	4.21	0.39	0.07	(2.13)	4.68	(8.15)	12.66	(9.09)	45.38
IIDDY	1.16	(0.33)	0.00	(0.68)	0.00	0.00	0.00	(4.66)	22.49
SYAAF	5.08	0.82	0.11	0.86	4.80	(8.68)	10.53	(8.33)	39.77
FCSMF	5.32	0.69	0.06	(1.52)	5.86	(16.76)	20.00	(14.29)	50.00
ALTAF	8.52	1.56	0.00	(1.27)	0.00	0.00	20.79	(17.39)	142.33
VULMF	11.77	2.16	0.06	0.32	13.18	(44.59)	42.86	(30.00)	168.18
RFLXF	10.95	2.08	0.13	1.00	12.44	(13.85)	30.00	(22.50)	75.26

Nouveau Monde Corporate Management

Arne Frandsen	Chairman of the Board	Profile
James Scarlett	Independent Director	Profile
Patrice Boulanger	Marketing Sales	Profile
Andrew Willis	Director	Profile

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