Western Copper Correlations

WRN Stock

USD 1.25 0.02 1.57%

The current 90-days correlation between Western Copper and Trilogy Metals is 0.17 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Western Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Western Copper and moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Western Copper Correlation With Market

Good diversification

The correlation between Western Copper and and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Copper and and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Western Stock

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Western Copper and. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Western Stock

0.79	VZLA	Vizsla Resources Corp	Pair Corr
0.68	EMX	EMX Royalty Corp	Pair Corr
0.82	FURY	Fury Gold Mines	Pair Corr
0.7	IPX	IperionX Limited American	Pair Corr
0.78	SKE	Skeena Resources	Pair Corr
0.62	TMC	TMC the metals	Pair Corr
0.61	WWR	Westwater Resources	Pair Corr
0.63	XPL	Solitario Exploration	Pair Corr
0.61	TMCWW	TMC the metals	Pair Corr

Moving against Western Stock

0.53	LGO	Largo Resources	Pair Corr
0.51	RIO	Rio Tinto ADR	Pair Corr
0.38	PLL	Piedmont Lithium Downward Rally	Pair Corr
0.37	LAC	Lithium Americas Corp	Pair Corr
0.61	IONR	ioneer American	Pair Corr
0.59	SGML	Sigma Lithium Resources	Pair Corr
0.53	NEXA	Nexa Resources SA	Pair Corr
0.43	USGOW	US GoldMining Warrant	Pair Corr
0.39	USGO	US GoldMining Common	Pair Corr

Related Correlations Analysis

	VZLA	FURY	NTCPF	TMQ	EMX	THM	ASM	USAS
VZLA		0.87	0.91	-0.18	0.7	0.82	0.91	0.78	VZLA
FURY	0.87		0.96	0.07	0.84	0.8	0.86	0.91	FURY
NTCPF	0.91	0.96		-0.03	0.8	0.79	0.89	0.87	NTCPF
TMQ	-0.18	0.07	-0.03		0.36	0.19	0.01	0.28	TMQ
EMX	0.7	0.84	0.8	0.36		0.8	0.84	0.92	EMX
THM	0.82	0.8	0.79	0.19	0.8		0.9	0.85	THM
ASM	0.91	0.86	0.89	0.01	0.84	0.9		0.87	ASM
USAS	0.78	0.91	0.87	0.28	0.92	0.85	0.87		USAS
	VZLA	FURY	NTCPF	TMQ	EMX	THM	ASM	USAS

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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

NTCPF	+ 0.96	FURY
USAS	+ 0.92	EMX
NTCPF	+ 0.91	VZLA
ASM	+ 0.91	VZLA
USAS	+ 0.91	FURY
ASM	+ 0.9	THM

High negative correlations

TMQ	- 0.18	VZLA
TMQ	- 0.03	NTCPF

Risk-Adjusted Indicators

There is a big difference between Western Stock performing well and Western Copper 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 Western Copper'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
VZLA	2.87	0.73	0.15	(0.87)	2.92	(3.17)	7.27	(4.97)	18.20
FURY	2.56	0.52	0.13	38.02	1.92	(4.76)	6.12	(3.85)	22.79
NTCPF	3.00	0.81	0.19	(3.72)	2.35	(5.09)	9.41	(5.38)	23.09
TMQ	3.74	0.44	0.09	1.18	3.90	(4.92)	10.49	(6.25)	35.25
EMX	1.86	0.50	0.16	(1.93)	1.78	(2.23)	3.95	(3.70)	10.19
THM	4.10	0.88	0.16	(1.80)	3.70	(5.35)	11.59	(6.33)	34.58
ASM	3.36	0.98	0.26	8.42	2.83	(4.24)	7.93	(5.00)	22.11
USAS	3.15	0.85	0.20	(2.48)	2.52	(4.67)	6.90	(4.92)	25.89

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