MAG Silver Correlations
MAG Stock | CAD 19.02 0.11 0.58% |
The correlation of MAG Silver 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 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. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between MAG Silver Corp and NYA is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAG Silver Corp and NYA in the same portfolio, assuming nothing else is changed.
MAG |
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
0.91 | IE | Ivanhoe Energy | PairCorr |
0.89 | FDY | Faraday Copper Corp | PairCorr |
0.83 | RY-PS | Royal Bank | PairCorr |
0.7 | RY | Royal Bank | PairCorr |
0.87 | RY-PM | Royal Bank | PairCorr |
0.81 | TD-PFI | Toronto Dominion Bank Earnings Call Tomorrow | PairCorr |
0.97 | TD-PFL | Toronto Dominion Bank Earnings Call Tomorrow | PairCorr |
0.92 | TD-PFM | Toronto Dominion Bank Earnings Call Tomorrow | PairCorr |
0.85 | TD-PFD | Toronto Dominion Bank Earnings Call Tomorrow | PairCorr |
Moving against MAG Stock
0.48 | TD | Toronto Dominion Bank Earnings Call Tomorrow | PairCorr |
Related Correlations Analysis
0.38 | -0.75 | 0.69 | 0.73 | 0.6 | AMZN | ||
0.38 | -0.55 | 0.35 | 0.4 | 0.61 | WMT | ||
-0.75 | -0.55 | -0.68 | -0.85 | -0.65 | SOT-UN | ||
0.69 | 0.35 | -0.68 | 0.8 | 0.28 | LPS | ||
0.73 | 0.4 | -0.85 | 0.8 | 0.59 | GOOG | ||
0.6 | 0.61 | -0.65 | 0.28 | 0.59 | JPM | ||
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
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 | ||
---|---|---|---|---|---|---|---|---|---|---|
AMZN | 1.09 | 0.11 | 0.03 | (6.65) | 1.21 | 2.72 | 6.67 | |||
WMT | 0.78 | 0.20 | 0.19 | 0.90 | 0.45 | 1.57 | 6.14 | |||
SOT-UN | 1.66 | (0.53) | 0.00 | 0.78 | 0.00 | 2.94 | 13.19 | |||
LPS | 6.29 | 1.31 | 0.12 | (2.08) | 5.55 | 20.00 | 55.79 | |||
GOOG | 1.29 | 0.32 | 0.14 | 1.46 | 1.46 | 2.53 | 12.83 | |||
JPM | 0.83 | 0.10 | 0.05 | 0.20 | 1.50 | 1.87 | 8.64 |
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.Did you try this?
Run Equity Search Now
Equity SearchSearch for actively traded equities including funds and ETFs from over 30 global markets |
All Next | Launch Module |
MAG Silver Corporate Directors
MAG Silver corporate directors refer to members of a MAG Silver board of directors. The board of directors generally takes responsibility for the MAG Silver's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of MAG Silver's board members must vote for the resolution. The MAG Silver board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.Jill Leversage | Independent Director | Profile | |
Richard Clark | Independent Director | Profile | |
Selma Lussenburg | Independent Director | Profile | |
Derek White | Independent Director | Profile |
Already Invested in MAG Silver Corp?
The danger of trading MAG Silver Corp is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of MAG Silver is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than MAG Silver. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile MAG Silver Corp is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether MAG Silver Corp is a strong investment it is important to analyze MAG Silver's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact MAG Silver's future performance. For an informed investment choice regarding MAG Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MAG Silver Corp. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Note that the MAG Silver Corp information on this page should be used as a complementary analysis to other MAG Silver's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Complementary Tools for MAG Stock analysis
When running MAG Silver's price analysis, check to measure MAG Silver's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy MAG Silver is operating at the current time. Most of MAG Silver's value examination focuses on studying past and present price action to predict the probability of MAG Silver's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move MAG Silver's price. Additionally, you may evaluate how the addition of MAG Silver to your portfolios can decrease your overall portfolio volatility.
Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
Transaction History View history of all your transactions and understand their impact on performance | |
Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
Bonds Directory Find actively traded corporate debentures issued by US companies | |
Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |