MAG Silver Correlations

MAG Stock

CAD 28.74 0.35 1.20%

The current 90-days correlation between MAG Silver Corp and MAG Silver Corp is 0.29 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MAG Silver moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MAG Silver Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MAG Silver Correlation With Market

Modest diversification

The correlation between MAG Silver Corp and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAG Silver Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MAG Silver could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MAG Silver when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MAG Silver - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MAG Silver Corp to buy it.

Moving together with MAG Stock

0.85	AG	First Majestic Silver	Pair Corr
0.82	IE	Ivanhoe Energy	Pair Corr
0.91	AMZN	Amazon CDR	Pair Corr
0.83	GOOG	Alphabet CDR Earnings Call Tomorrow	Pair Corr
0.9	MSFT	Microsoft Corp CDR	Pair Corr
0.87	JPM	JPMorgan Chase	Pair Corr
0.84	META	Meta Platforms CDR	Pair Corr
0.75	CHEV	CHEVRON CDR	Pair Corr
0.8	CNQ	Canadian Natural Res	Pair Corr

Moving against MAG Stock

0.93	BRK	Berkshire Hathaway CDR	Pair Corr
0.68	FDR	Flinders Resources Earnings Call This Week	Pair Corr
0.66	INFM	Infinico Metals Corp	Pair Corr

Related Correlations Analysis

	MAG	SVM	DSV	AYA	PAAS	EDR	SSRM	OR
MAG		0.76	0.64	0.88	0.7	0.85	0.87	0.71	MAG
SVM	0.76		0.51	0.69	0.77	0.87	0.79	0.86	SVM
DSV	0.64	0.51		0.85	0.57	0.53	0.73	0.69	DSV
AYA	0.88	0.69	0.85		0.7	0.76	0.82	0.74	AYA
PAAS	0.7	0.77	0.57	0.7		0.9	0.68	0.6	PAAS
EDR	0.85	0.87	0.53	0.76	0.9		0.73	0.73	EDR
SSRM	0.87	0.79	0.73	0.82	0.68	0.73		0.82	SSRM
OR	0.71	0.86	0.69	0.74	0.6	0.73	0.82		OR
	MAG	SVM	DSV	AYA	PAAS	EDR	SSRM	OR

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Risk-Adjusted Indicators

There is a big difference between MAG Stock performing well and MAG Silver 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 MAG Silver'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
MAG	1.59	0.47	0.17	(5.91)	1.59	(1.83)	5.16	(2.67)	9.93
SVM	2.61	0.25	0.04	1.83	2.91	(2.97)	6.35	(5.31)	18.03
DSV	3.13	0.22	0.02	15.50	3.84	(3.57)	8.79	(6.73)	23.73
AYA	3.01	0.13	0.04	0.24	3.46	(3.50)	7.05	(7.30)	21.22
PAAS	2.01	0.04	(0.01)	0.24	3.56	(1.97)	4.60	(3.15)	22.48
EDR	2.96	0.33	0.11	0.46	2.65	(3.59)	7.80	(5.00)	18.58
SSRM	2.20	0.15	0.02	0.53	3.14	(2.16)	4.56	(5.18)	16.43
OR	1.49	0.22	0.05	1.42	1.87	(1.60)	4.12	(2.19)	10.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in MAG Silver without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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