Wheaton Precious Correlations

WPM Stock

USD 91.07 0.82 0.89%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Wheaton Precious moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Wheaton Precious Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Wheaton Precious Correlation With Market

Good diversification

The correlation between Wheaton Precious Metals and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wheaton Precious Metals and DJI in the same portfolio, assuming nothing else is changed.

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Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wheaton Precious Metals. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Wheaton Stock

0.73	X	United States Steel Sell-off Trend	Pair Corr
0.9	AU	AngloGold Ashanti plc	Pair Corr
0.72	DC	Dakota Gold Corp	Pair Corr
0.72	IE	Ivanhoe Electric	Pair Corr
0.69	NG	NovaGold Resources Earnings Call This Week	Pair Corr
0.97	OR	Osisko Gold Ro	Pair Corr
0.67	RS	Reliance Steel Aluminum	Pair Corr
0.82	SA	Seabridge Gold	Pair Corr
0.85	AEM	Agnico Eagle Mines	Pair Corr
0.8	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.73	CDE	Coeur Mining	Pair Corr
0.79	CNL	Collective Mining	Pair Corr
0.96	EGO	Eldorado Gold Corp	Pair Corr
0.81	FNV	Franco Nevada	Pair Corr
0.65	FSM	Fortuna Silver Mines	Pair Corr
0.7	GAU	Galiano Gold	Pair Corr
0.75	GFI	Gold Fields	Pair Corr
0.63	HBM	Hudbay Minerals	Pair Corr

Moving against Wheaton Stock

0.59	HYMCL	Hycroft Mining Holding	Pair Corr
0.5	CLF	Cleveland Cliffs	Pair Corr
0.44	DOW	Dow Inc	Pair Corr
0.75	HUN	Huntsman	Pair Corr
0.55	HLP	Hongli Group Ordinary	Pair Corr

Related Correlations Analysis

	RGLD	AEM	SAND	OR	FNV	SA	PAAS	NEM	KGC	GFI
RGLD		0.91	0.89	0.79	0.93	0.56	0.29	0.92	0.95	0.69	RGLD
AEM	0.91		0.88	0.81	0.95	0.78	0.61	0.97	0.93	0.87	AEM
SAND	0.89	0.88		0.96	0.87	0.74	0.38	0.88	0.96	0.72	SAND
OR	0.79	0.81	0.96		0.79	0.76	0.37	0.81	0.9	0.67	OR
FNV	0.93	0.95	0.87	0.79		0.7	0.47	0.93	0.91	0.76	FNV
SA	0.56	0.78	0.74	0.76	0.7		0.83	0.77	0.74	0.78	SA
PAAS	0.29	0.61	0.38	0.37	0.47	0.83		0.54	0.42	0.74	PAAS
NEM	0.92	0.97	0.88	0.81	0.93	0.77	0.54		0.95	0.81	NEM
KGC	0.95	0.93	0.96	0.9	0.91	0.74	0.42	0.95		0.77	KGC
GFI	0.69	0.87	0.72	0.67	0.76	0.78	0.74	0.81	0.77		GFI
	RGLD	AEM	SAND	OR	FNV	SA	PAAS	NEM	KGC	GFI

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Risk-Adjusted Indicators

There is a big difference between Wheaton Stock performing well and Wheaton Precious 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 Wheaton Precious' 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
RGLD	1.59	0.25	0.09	1.52	2.26	(1.59)	3.91	(2.58)	13.17
AEM	1.82	0.30	0.10	3.41	2.58	(1.97)	5.33	(3.35)	14.92
SAND	1.93	0.54	0.21	2.40	2.00	(2.34)	5.09	(3.33)	14.98
OR	1.78	0.49	0.20	(26.89)	1.98	(2.02)	3.38	(2.37)	14.58
FNV	1.53	0.16	0.05	0.63	2.21	(1.53)	4.84	(3.06)	11.81
SA	2.31	0.41	0.14	0.65	2.61	(2.73)	5.05	(3.93)	19.04
PAAS	2.40	0.25	0.06	0.37	4.06	(2.47)	6.49	(4.55)	28.48
NEM	1.90	0.38	0.14	0.88	2.08	(2.05)	4.90	(3.17)	14.34
KGC	1.99	0.47	0.16	1.53	2.48	(2.30)	5.05	(3.73)	17.84
GFI	2.72	0.34	0.08	2.44	3.66	(2.82)	7.53	(5.09)	19.05

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