Pan American Correlations

PAAS Stock

USD 21.97 0.25 1.15%

The current 90-days correlation between Pan American Silver and Wheaton Precious Metals is 0.77 (i.e., Poor diversification). The correlation of Pan American 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.

Pan American Correlation With Market

Average diversification

The correlation between Pan American Silver and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pan American Silver and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pan American Silver. 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 Pan Stock

0.68	X	United States Steel	Pair Corr
0.7	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.78	AEM	Agnico Eagle Mines	Pair Corr
0.76	HMY	Harmony Gold Mining Earnings Call This Week	Pair Corr
0.7	MSB	Mesabi Trust	Pair Corr
0.85	GROY	Gold Royalty Corp	Pair Corr
0.81	AUST	Austin Gold Corp	Pair Corr
0.97	AG	First Majestic Silver	Pair Corr
0.61	EU	enCore Energy Corp	Pair Corr
0.84	IE	Ivanhoe Electric	Pair Corr
0.66	MP	MP Materials Corp	Pair Corr
0.94	OR	Osisko Gold Ro	Pair Corr

Moving against Pan Stock

0.76	HLP	Hongli Group Ordinary	Pair Corr
0.69	GURE	Gulf Resources	Pair Corr
0.64	CSTM	Constellium Nv	Pair Corr
0.67	NORNQ	Noranda Aluminum Holding	Pair Corr
0.52	MKDTY	Molecular Data	Pair Corr

Related Correlations Analysis

	NEM	WPM	FNV	KGC	RGLD	AEM	SAND	GOLD	BTG	GFI
NEM		0.1	0.3	-0.06	-0.09	0.1	0.43	0.92	0.48	0.29	NEM
WPM	0.1		0.91	0.84	0.9	0.97	0.74	0.34	0.73	0.84	WPM
FNV	0.3	0.91		0.71	0.72	0.92	0.84	0.55	0.84	0.83	FNV
KGC	-0.06	0.84	0.71		0.92	0.8	0.63	0.1	0.69	0.85	KGC
RGLD	-0.09	0.9	0.72	0.92		0.85	0.55	0.06	0.59	0.8	RGLD
AEM	0.1	0.97	0.92	0.8	0.85		0.79	0.36	0.72	0.78	AEM
SAND	0.43	0.74	0.84	0.63	0.55	0.79		0.61	0.86	0.71	SAND
GOLD	0.92	0.34	0.55	0.1	0.06	0.36	0.61		0.63	0.4	GOLD
BTG	0.48	0.73	0.84	0.69	0.59	0.72	0.86	0.63		0.83	BTG
GFI	0.29	0.84	0.83	0.85	0.8	0.78	0.71	0.4	0.83		GFI
	NEM	WPM	FNV	KGC	RGLD	AEM	SAND	GOLD	BTG	GFI

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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

AEM	+ 0.97	WPM
GOLD	+ 0.92	NEM
AEM	+ 0.92	FNV
RGLD	+ 0.92	KGC
FNV	+ 0.91	WPM
RGLD	+ 0.9	WPM

High negative correlations

RGLD	- 0.09	NEM
KGC	- 0.06	NEM

Risk-Adjusted Indicators

There is a big difference between Pan Stock performing well and Pan American 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 Pan American'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
NEM	1.53	(0.34)	0.00	(0.98)	0.00	0.00	2.51	(3.19)	18.93
WPM	1.45	0.00	(0.06)	0.27	2.13	(1.37)	2.78	(3.39)	10.53
FNV	1.24	(0.03)	0.00	(0.06)	0.00	0.00	2.46	(2.61)	8.26
KGC	2.02	0.15	0.02	0.97	2.74	(2.08)	5.41	(4.01)	18.27
RGLD	1.25	0.02	(0.04)	0.22	1.71	(1.20)	2.44	(2.76)	7.40
AEM	1.41	0.06	(0.04)	(0.19)	1.85	(1.55)	3.08	(3.02)	11.67
SAND	1.70	0.04	(0.02)	0.28	2.39	(1.77)	3.33	(2.56)	15.60
GOLD	1.53	(0.25)	0.00	(0.77)	0.00	0.00	2.85	(3.49)	9.58
BTG	2.10	0.03	(0.01)	0.18	2.26	(2.48)	3.90	(4.09)	17.88
GFI	2.04	0.07	(0.02)	(56.42)	2.50	(2.25)	4.52	(3.77)	14.93

Pan American Corporate Management

Delaney Fisher	Associate VP	Profile
Steven Busby	Chief Officer	Profile
Cameron Paterson	Senior IT	Profile
Christopher Lemon	General Counsel	Profile
Ignacio Couturier	Chief Officer	Profile

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