Contango ORE Correlations

CTGO Stock

USD 25.99 0.01 0.04%

The current 90-days correlation between Contango ORE and GoldMining is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Contango ORE moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Contango ORE moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Contango ORE Correlation With Market

Weak diversification

The correlation between Contango ORE and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Contango ORE and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Contango Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Contango ORE. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in price.

To learn how to invest in Contango Stock, please use our How to Invest in Contango ORE guide.

Moving together with Contango Stock

0.78	CAV	Carnavale Resources Split	Pair Corr
0.97	DC	Dakota Gold Corp	Pair Corr
0.74	SRL	Salazar Resources	Pair Corr
0.86	VOXR	Vox Royalty Corp	Pair Corr
0.77	BRC	Blackrock Silver Corp	Pair Corr
0.8	USL	Unico Silver	Pair Corr
0.65	AYT	Austin Metals	Pair Corr
0.92	VZLA	Vizsla Resources Corp	Pair Corr
0.8	BAG	Blende Silver Corp	Pair Corr
0.74	WAM	Western Alaska Minerals	Pair Corr

Moving against Contango Stock

0.6	GEO	Empire Metals Limited	Pair Corr
0.39	CDB	Cordoba Minerals Corp	Pair Corr
0.71	EMO	Emerita Resources Corp	Pair Corr
0.59	CEC	Compliance Energy Corp	Pair Corr
0.47	IPT	Impact Minerals Split	Pair Corr
0.45	CVW	CVW CleanTech	Pair Corr
0.5	CTN	Catalina Resources Split	Pair Corr
0.4	STE	Starr Peak Exploration	Pair Corr
0.33	FEAM	5E Advanced Materials	Pair Corr

Related Correlations Analysis

	GLDG	USAU	HYMC	VGZ	DC	BGL	PLG	CLW	THM	TRX
GLDG		0.17	-0.36	0.42	-0.01	0.73	0.52	0.43	0.56	0.13	GLDG
USAU	0.17		0.76	0.67	0.82	-0.22	0.73	0.22	0.66	0.85	USAU
HYMC	-0.36	0.76		0.38	0.75	-0.7	0.32	-0.15	0.3	0.69	HYMC
VGZ	0.42	0.67	0.38		0.79	-0.02	0.9	0.22	0.74	0.82	VGZ
DC	-0.01	0.82	0.75	0.79		-0.46	0.74	-0.01	0.56	0.93	DC
BGL	0.73	-0.22	-0.7	-0.02	-0.46		0.16	0.56	0.21	-0.29	BGL
PLG	0.52	0.73	0.32	0.9	0.74	0.16		0.35	0.79	0.82	PLG
CLW	0.43	0.22	-0.15	0.22	-0.01	0.56	0.35		0.42	0.13	CLW
THM	0.56	0.66	0.3	0.74	0.56	0.21	0.79	0.42		0.61	THM
TRX	0.13	0.85	0.69	0.82	0.93	-0.29	0.82	0.13	0.61		TRX
	GLDG	USAU	HYMC	VGZ	DC	BGL	PLG	CLW	THM	TRX

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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

TRX	+ 0.93	DC
PLG	+ 0.9	VGZ
TRX	+ 0.85	USAU
DC	+ 0.82	USAU
TRX	+ 0.82	VGZ
TRX	+ 0.82	PLG

High negative correlations

BGL	- 0.7	HYMC
BGL	- 0.46	DC
HYMC	- 0.36	GLDG
TRX	- 0.29	BGL
BGL	- 0.22	USAU
CLW	- 0.15	HYMC

Risk-Adjusted Indicators

There is a big difference between Contango Stock performing well and Contango ORE 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 Contango ORE'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
GLDG	3.28	(0.08)	(0.01)	0.03	4.10	(3.91)	6.92	(7.25)	26.87
USAU	3.07	0.07	0.02	0.14	3.59	(3.56)	6.36	(6.01)	22.04
HYMC	5.63	2.44	0.38	2.81	4.79	(6.53)	15.37	(8.85)	61.30
VGZ	3.77	(0.14)	0.00	(0.01)	0.00	0.00	7.65	(8.12)	22.77
DC	2.79	0.22	0.06	0.24	4.06	(2.83)	4.64	(5.30)	26.64
BGL	6.12	(2.11)	0.00	(2.34)	0.00	0.00	12.97	(15.56)	41.35
PLG	4.59	(0.32)	0.00	(0.01)	0.00	0.00	8.91	(10.14)	26.91
CLW	1.83	(0.05)	(0.01)	0.05	2.28	(2.03)	4.45	(3.17)	12.30
THM	5.09	0.24	0.06	0.19	5.30	(7.17)	13.61	(9.13)	50.74
TRX	3.78	0.21	0.06	0.19	4.28	(4.57)	8.33	(8.47)	20.25

Contango ORE Corporate Executives

Elected by the shareholders, the Contango ORE's board of directors comprises two types of representatives: Contango ORE inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Contango. The board's role is to monitor Contango ORE's management team and ensure that shareholders' interests are well served. Contango ORE's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Contango ORE's outside directors are responsible for providing unbiased perspectives on the board's policies.

Leah Gaines

CFO, Chief Accounting Officer, VP, Treasurer and Secretary

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