Nexa Resources Correlations

NEXA Stock

USD 4.66 0.20 4.12%

The current 90-days correlation between Nexa Resources SA and Materion is 0.31 (i.e., Weak diversification). The correlation of Nexa Resources 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Nexa Resources Correlation With Market

Significant diversification

The correlation between Nexa Resources SA and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexa Resources SA and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nexa Stock

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nexa Resources SA. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Nexa Stock

0.72	LGO	Largo Resources	Pair Corr
0.81	SGML	Sigma Lithium Resources	Pair Corr
0.78	LITM	Snow Lake Resources	Pair Corr

Moving against Nexa Stock

0.91	CMP	Compass Minerals Int	Pair Corr
0.84	SLI	Standard Lithium	Pair Corr
0.83	IPX	IperionX Limited American	Pair Corr
0.83	TMC	TMC the metals	Pair Corr
0.81	VZLA	Vizsla Resources Corp	Pair Corr
0.78	SKE	Skeena Resources	Pair Corr
0.7	EMX	EMX Royalty Corp	Pair Corr
0.63	FURY	Fury Gold Mines	Pair Corr
0.58	GSM	Ferroglobe PLC	Pair Corr
0.56	USARW	USA Rare Earth, Symbol Change	Pair Corr
0.53	WRN	Western Copper	Pair Corr
0.5	NVA	Nova Minerals Limited	Pair Corr
0.48	NAK	Northern Dynasty Minerals	Pair Corr
0.46	NMG	Nouveau Monde Graphite	Pair Corr
0.42	BHP	BHP Group Limited	Pair Corr
0.36	XPL	Solitario Exploration	Pair Corr
0.33	LZM	Lifezone Metals	Pair Corr
0.9	EU	enCore Energy Corp	Pair Corr
0.88	CF	CF Industries Holdings	Pair Corr
0.86	CX	Cemex SAB de	Pair Corr
0.83	TMCWW	TMC the metals	Pair Corr
0.81	IE	Ivanhoe Electric	Pair Corr
0.79	X	United States Steel	Pair Corr
0.79	DC	Dakota Gold Corp	Pair Corr
0.74	USAS	Americas Silver Corp	Pair Corr
0.74	AU	AngloGold Ashanti plc	Pair Corr

Related Correlations Analysis

	MTRN	FURY	ESKYF	EMX	SKE	IPX	CMP	LGO	SLI
MTRN		0.08	0.02	0.04	-0.1	0.06	-0.25	0.65	-0.03	MTRN
FURY	0.08		0.71	0.75	0.77	0.75	0.5	-0.39	0.64	FURY
ESKYF	0.02	0.71		0.48	0.58	0.55	0.27	-0.25	0.51	ESKYF
EMX	0.04	0.75	0.48		0.93	0.87	0.71	-0.44	0.82	EMX
SKE	-0.1	0.77	0.58	0.93		0.9	0.76	-0.52	0.82	SKE
IPX	0.06	0.75	0.55	0.87	0.9		0.81	-0.46	0.91	IPX
CMP	-0.25	0.5	0.27	0.71	0.76	0.81		-0.68	0.88	CMP
LGO	0.65	-0.39	-0.25	-0.44	-0.52	-0.46	-0.68		-0.54	LGO
SLI	-0.03	0.64	0.51	0.82	0.82	0.91	0.88	-0.54		SLI
	MTRN	FURY	ESKYF	EMX	SKE	IPX	CMP	LGO	SLI

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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

SKE	+ 0.93	EMX
SLI	+ 0.91	IPX
IPX	+ 0.9	SKE
SLI	+ 0.88	CMP
IPX	+ 0.87	EMX
SLI	+ 0.82	EMX

High negative correlations

LGO	- 0.68	CMP
SLI	- 0.54	LGO
LGO	- 0.52	SKE
LGO	- 0.46	IPX
LGO	- 0.44	EMX
LGO	- 0.39	FURY

Risk-Adjusted Indicators

There is a big difference between Nexa Stock performing well and Nexa Resources 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 Nexa Resources' 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
MTRN	1.82	(0.18)	0.00	1.53	0.00	0.00	3.44	(3.59)	16.35
FURY	2.27	0.37	0.11	1.45	1.80	(4.86)	5.56	(3.64)	20.79
ESKYF	5.28	0.81	0.10	0.58	5.20	(8.78)	11.76	(11.11)	26.18
EMX	2.06	0.36	0.14	0.64	2.26	(2.35)	4.55	(3.90)	12.08
SKE	2.91	0.66	0.20	1.19	2.65	(3.50)	7.55	(4.33)	20.07
IPX	4.74	0.72	0.16	(1.84)	3.99	(6.45)	13.02	(6.78)	24.44
CMP	2.41	1.13	0.62	21.95	1.03	(3.18)	5.00	(2.63)	29.32
LGO	3.00	(0.55)	0.00	(1.78)	0.00	0.00	8.05	(8.63)	27.28
SLI	3.20	0.68	0.17	4.60	3.28	(3.65)	8.02	(5.56)	19.68

Nexa Resources Corporate Management

Valdecir Botassini	Senior Vice President Project Development & Execution	Profile
Diego Cabrera	Director	Profile
Leonardo Coelho	Senior Vice President - Mining	Profile
Edward Ruiz	Independent Director	Profile

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