Rio Tinto Correlations

RIO Stock

USD 72.20 0.38 0.52%

The current 90-days correlation between Rio Tinto ADR and BHP Group Limited is 0.83 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Rio Tinto moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Rio Tinto ADR moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Rio Tinto Correlation With Market

Modest diversification

The correlation between Rio Tinto ADR and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Rio Tinto ADR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Rio Stock

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Rio Tinto ADR. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Rio Stock

0.83	NB	NioCorp Developments	Pair Corr
0.77	601121	Xinjiang Baodi Mining	Pair Corr
0.78	002716	Chenzhou Jingui Silver	Pair Corr
0.74	CMCL	Caledonia Mining	Pair Corr
0.93	STRR	Star Royalties	Pair Corr
0.82	000603	Shengda Mining	Pair Corr
0.82	LAR	Lithium Argentina Earnings Call This Week	Pair Corr
0.88	THR	Thor Mining PLC	Pair Corr
0.74	NMG	Nouveau Monde Graphite Earnings Call This Week	Pair Corr
0.83	SLI	Standard Lithium Earnings Call This Week	Pair Corr
0.86	EDV	Endeavour Mining Corp	Pair Corr
0.87	ION	Ion Energy	Pair Corr
0.8	RRI	Riverside Resources	Pair Corr
0.82	IAUX	i 80 Gold	Pair Corr
0.63	AAZ	Anglo Asian Mining	Pair Corr
0.84	ELEF	Silver Elephant Mining	Pair Corr
0.81	601020	Tibet Huayu Mining	Pair Corr
0.88	NEXA	Nexa Resources SA	Pair Corr
0.82	IE	Ivanhoe Energy Earnings Call This Week	Pair Corr
0.7	OMI	Orosur Mining	Pair Corr
0.88	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.86	RYO	Rio Silver	Pair Corr
0.9	601061	CITIC Metal	Pair Corr
0.62	603132	Jinhui Mining	Pair Corr
0.77	603979	JCHX Mining Management	Pair Corr
0.71	HOC	Hochschild Mining plc	Pair Corr

Moving against Rio Stock

0.6	002149	Western Metal Materials	Pair Corr
0.55	CMP	Compass Minerals Int	Pair Corr
0.54	600259	Rising Nonferrous Metals	Pair Corr
0.39	PXC	Phoenix Global Mining	Pair Corr
0.89	GBU	Gabriel Resources	Pair Corr
0.83	SYM	Symphony Environmental	Pair Corr
0.82	ADVWW	Advantage Solutions	Pair Corr
0.77	AYM	Anglesey Mining Split	Pair Corr
0.43	GOEVW	Canoo Holdings	Pair Corr
0.4	CTL	CleanTech Lithium plc	Pair Corr
0.32	PCTTW	PureCycle Technologies	Pair Corr

Related Correlations Analysis

	BHP	SCCO	NEM	VALE	CRH	AEM	SHW	ECL	GSM	SLI
BHP		0.81	0.77	0.85	0.89	0.76	-0.21	0.25	0.7	0.74	BHP
SCCO	0.81		0.88	0.92	0.76	0.88	-0.66	-0.05	0.87	0.89	SCCO
NEM	0.77	0.88		0.86	0.77	0.99	-0.58	0.05	0.75	0.87	NEM
VALE	0.85	0.92	0.86		0.83	0.87	-0.46	-0.06	0.71	0.75	VALE
CRH	0.89	0.76	0.77	0.83		0.76	-0.17	0.38	0.64	0.71	CRH
AEM	0.76	0.88	0.99	0.87	0.76		-0.56	-0.01	0.73	0.85	AEM
SHW	-0.21	-0.66	-0.58	-0.46	-0.17	-0.56		0.31	-0.65	-0.66	SHW
ECL	0.25	-0.05	0.05	-0.06	0.38	-0.01	0.31		0.16	0.13	ECL
GSM	0.7	0.87	0.75	0.71	0.64	0.73	-0.65	0.16		0.93	GSM
SLI	0.74	0.89	0.87	0.75	0.71	0.85	-0.66	0.13	0.93		SLI
	BHP	SCCO	NEM	VALE	CRH	AEM	SHW	ECL	GSM	SLI

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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	+ 0.99	NEM
SLI	+ 0.93	GSM
VALE	+ 0.92	SCCO
CRH	+ 0.89	BHP
SLI	+ 0.89	SCCO
NEM	+ 0.88	SCCO

High negative correlations

SLI	- 0.66	SHW
SHW	- 0.66	SCCO
GSM	- 0.65	SHW
SHW	- 0.58	NEM
SHW	- 0.56	AEM
SHW	- 0.46	VALE

Risk-Adjusted Indicators

There is a big difference between Rio Stock performing well and Rio Tinto 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 Rio Tinto'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
BHP	1.09	0.13	0.09	0.24	1.10	(1.24)	2.66	(1.74)	8.41
SCCO	1.93	0.60	0.27	0.59	1.72	(2.15)	4.06	(3.37)	13.29
NEM	1.74	0.47	0.11	(3.09)	2.68	(1.86)	4.52	(5.69)	14.04
VALE	0.91	0.32	0.24	0.64	0.66	(1.08)	2.42	(1.69)	5.70
CRH	1.29	0.20	0.21	0.27	0.80	(1.84)	3.13	(1.52)	11.27
AEM	1.59	0.45	0.12	(6.80)	2.41	(1.70)	4.41	(4.62)	13.50
SHW	1.08	0.01	(0.01)	0.10	1.17	(1.32)	3.00	(2.33)	7.93
ECL	0.93	(0.11)	0.00	(0.04)	0.00	0.00	1.59	(2.19)	6.35
GSM	2.50	(0.01)	0.04	0.09	2.91	(2.65)	5.52	(4.92)	17.25
SLI	3.92	0.80	0.14	2.78	4.41	(4.66)	9.25	(7.11)	40.36

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