Wheaton Precious Correlations

Stocks . USA . 
Stock . Wheaton Precious Metals
WPM Stock  USD 105.45  2.07  2.00%   
The current 90-days correlation between Wheaton Precious Metals and Royal Gold is 0.66 (i.e., Poor diversification). 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

Average diversification

The correlation between Wheaton Precious Metals and DJI is 0.11 (i.e., Average 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.
  
Build AI portfolio with Wheaton Stock
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 producer price index.

Moving together with Wheaton Stock

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  0.89THM International Tower HillPairCorr
  0.64STLD Steel DynamicsPairCorr
  0.81CENX Century AluminumPairCorr
  0.66CSTM Constellium NvPairCorr
  0.74ATCOL Atlas CorpPairCorr
  0.76PTAIY Astra International TbkPairCorr
  0.81TLKMF Telkom Indonesia TbkPairCorr
  0.85ENTO Entero Therapeutics, Upward RallyPairCorr
  0.89VPV Invesco PennsylvaniaPairCorr
  0.8SCCO Southern CopperPairCorr
  0.79REI Ring EnergyPairCorr
  0.85BTE Baytex Energy CorpPairCorr
  0.83IDR Idaho Strategic Resources Buyout TrendPairCorr
  0.79OBE Obsidian EnergyPairCorr

Moving against Wheaton Stock

  0.7TM Trigon MetalsPairCorr
  0.61CRS Carpenter TechnologyPairCorr
  0.58RS Reliance Steel AluminumPairCorr
  0.58PCTTW PureCycle TechnologiesPairCorr
  0.57ADVWW Advantage SolutionsPairCorr
  0.56WOR Worthington IndustriesPairCorr
  0.43ZEUS Olympic SteelPairCorr
  0.79PPERY Bank Mandiri PerseroPairCorr
  0.53PPERF Bank Mandiri PerseroPairCorr
  0.52BKRKF PT Bank RakyatPairCorr
  0.49PTAIF PT Astra InternationalPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
RGLD  1.28  0.30  0.17  0.79  1.45 
(1.47)
 2.49 
(2.48)
 9.75 
AEM  1.33  0.51  0.31  1.64  1.21 
(1.61)
 4.20 
(2.45)
 9.55 
SAND  1.27  0.32  0.17  0.88  1.49 
(1.46)
 2.59 
(2.55)
 9.49 
OR  1.32  0.52  0.20  2.29  1.74 
(1.38)
 2.98 
(1.89)
 11.75 
FNV  1.25  0.38  0.24  0.63  1.18 
(1.42)
 2.85 
(1.99)
 10.46 
SA  2.09  0.72  0.33  1.75  1.75 
(2.56)
 5.70 
(3.68)
 13.48 
PAAS  1.81  0.43  0.24  1.39  1.52 
(2.36)
 4.12 
(3.12)
 10.77 
NEM  1.39  0.54  0.30  0.73  1.27 
(1.67)
 3.31 
(2.63)
 10.49 
KGC  1.71  0.71  0.32  1.94  1.51 
(1.94)
 3.85 
(3.51)
 11.27 
GFI  2.19  0.86  0.33  2.99  1.98 
(2.59)
 5.06 
(3.61)
 18.44 

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