Franco Nevada Correlations

FNV Stock

USD 203.69 11.45 5.32%

The current 90-days correlation between Franco Nevada and Royal Gold is 0.73 (i.e., Poor diversification). The correlation of Franco Nevada 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.

Franco Nevada Correlation With Market

Modest diversification

The correlation between Franco Nevada and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Franco Nevada and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Franco Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Franco Nevada. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in state.

For more information on how to buy Franco Stock please use our How to Invest in Franco Nevada guide.

Moving together with Franco Stock

0.84	600988	Chifeng Jilong Gold	Pair Corr
0.98	B	Barrick Mining Symbol Change	Pair Corr
0.75	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.84	AG	First Majestic Silver Aggressive Push	Pair Corr
0.95	AU	AngloGold Ashanti plc	Pair Corr
0.66	WA1	WA1 Resources	Pair Corr
0.94	HL	Hecla Mining Aggressive Push	Pair Corr
0.8	MT	ArcelorMittal SA ADR	Pair Corr
0.87	NG	NovaGold Resources	Pair Corr
0.98	OR	Osisko Gold Ro	Pair Corr
0.84	WIA	WIA Gold	Pair Corr
0.85	SA	Seabridge Gold	Pair Corr
0.91	TX	Ternium SA ADR	Pair Corr
0.91	CUU	Copper Fox Metals	Pair Corr
0.95	VALE	Vale SA ADR Sell-off Trend	Pair Corr
0.88	GML	Gateway Mining	Pair Corr
0.66	GCN	Goldcliff Resource Corp	Pair Corr
0.84	002237	Shandong Humon Smelting	Pair Corr
0.82	DV	Dolly Varden Silver	Pair Corr
0.95	WPM	Wheaton Precious Metals	Pair Corr
0.84	KTN	Kootenay Silver	Pair Corr
0.93	FEX	FENIX Resources	Pair Corr
0.89	DBO	Diablo Resources	Pair Corr

Moving against Franco Stock

0.93	AP	Ampco Pittsburgh	Pair Corr
0.62	RS	Reliance Steel Aluminum Earnings Call This Week	Pair Corr
0.55	TG	Tredegar	Pair Corr
0.51	ARI	Arika Resources	Pair Corr
0.88	JAIBALAJI	Jai Balaji Industries	Pair Corr
0.32	000409	Yunding Technology	Pair Corr

Related Correlations Analysis

	RGLD	AEM	PAAS	SAND	WPM	SA	OR	NEM	KGC	FSM
RGLD		0.97	0.99	1.0	0.93	0.87	0.98	0.97	0.99	0.96	RGLD
AEM	0.97		0.98	0.97	0.97	0.92	0.98	0.99	0.99	0.97	AEM
PAAS	0.99	0.98		0.99	0.94	0.91	0.98	0.98	0.98	0.97	PAAS
SAND	1.0	0.97	0.99		0.93	0.86	0.98	0.97	0.99	0.96	SAND
WPM	0.93	0.97	0.94	0.93		0.85	0.96	0.94	0.95	0.9	WPM
SA	0.87	0.92	0.91	0.86	0.85		0.91	0.92	0.88	0.93	SA
OR	0.98	0.98	0.98	0.98	0.96	0.91		0.97	0.98	0.96	OR
NEM	0.97	0.99	0.98	0.97	0.94	0.92	0.97		0.99	0.97	NEM
KGC	0.99	0.99	0.98	0.99	0.95	0.88	0.98	0.99		0.96	KGC
FSM	0.96	0.97	0.97	0.96	0.9	0.93	0.96	0.97	0.96		FSM
	RGLD	AEM	PAAS	SAND	WPM	SA	OR	NEM	KGC	FSM

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Risk-Adjusted Indicators

There is a big difference between Franco Stock performing well and Franco Nevada 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 Franco Nevada'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
RGLD	1.32	0.40	0.21	1.13	1.45	(1.51)	2.57	(2.48)	9.75
AEM	1.48	0.66	0.38	1.81	1.06	(1.84)	4.41	(2.45)	9.55
PAAS	1.90	0.56	0.30	1.03	1.51	(2.49)	4.24	(3.16)	10.77
SAND	1.30	0.43	0.22	1.23	1.44	(1.55)	2.89	(2.55)	9.49
WPM	1.42	0.33	0.19	1.01	1.31	(1.63)	3.36	(2.53)	8.28
SA	2.31	0.93	0.42	1.52	1.64	(2.98)	7.33	(3.68)	13.48
OR	1.34	0.56	0.21	1.77	1.79	(1.44)	2.98	(1.89)	11.75
NEM	1.47	0.78	0.55	1.45	0.66	(1.91)	4.52	(2.34)	10.49
KGC	1.84	0.87	0.40	2.08	1.47	(2.19)	5.22	(3.51)	11.27
FSM	2.23	0.53	0.18	0.33	2.52	(2.57)	5.95	(3.69)	18.70

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