Royal Gold Correlations

RGLD Stock

USD 175.93 7.92 4.31%

The current 90-days correlation between Royal Gold and Wheaton Precious Metals is -0.06 (i.e., Good diversification). The correlation of Royal Gold 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.

Royal Gold Correlation With Market

Good diversification

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

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Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Royal Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

For information on how to trade Royal Stock refer to our How to Trade Royal Stock guide.

Moving together with Royal Stock

0.9	FNV	Franco Nevada	Pair Corr
0.94	KGC	Kinross Gold	Pair Corr
0.97	NEM	Newmont Goldcorp Corp	Pair Corr
0.87	WPM	Wheaton Precious Metals	Pair Corr
0.9	AU	AngloGold Ashanti plc	Pair Corr

Moving against Royal Stock

0.73	AA	Alcoa Corp	Pair Corr
0.69	CLF	Cleveland Cliffs Aggressive Push	Pair Corr
0.69	CC	Chemours	Pair Corr
0.64	ASTLW	Algoma Steel Group	Pair Corr
0.59	NUE	Nucor Corp	Pair Corr
0.51	ASTL	Algoma Steel Group Buyout Trend	Pair Corr
0.47	GGB	Gerdau SA ADR Aggressive Push	Pair Corr
0.43	CENX	Century Aluminum	Pair Corr
0.39	VHI	Valhi Inc	Pair Corr
0.83	HYMCW	Hycroft Mining Holding	Pair Corr
0.71	WTTR	Select Energy Services	Pair Corr
0.68	FF	FutureFuel Corp	Pair Corr
0.68	ELBM	Electra Battery Materials	Pair Corr
0.66	DD	Dupont De Nemours	Pair Corr
0.49	ENFY	Enlightify Symbol Change	Pair Corr
0.42	CE	Celanese	Pair Corr
0.42	HYMCL	Hycroft Mining Holding	Pair Corr
0.39	OC	Owens Corning Sell-off Trend	Pair Corr

Related Correlations Analysis

	WPM	AEM	SAND	OR	FNV	PAAS	SSRM	DRD	AGI	SA
WPM		0.94	0.91	0.97	0.95	0.39	0.7	0.72	0.57	0.83	WPM
AEM	0.94		0.84	0.88	0.97	0.49	0.54	0.83	0.78	0.8	AEM
SAND	0.91	0.84		0.95	0.87	0.14	0.62	0.57	0.44	0.69	SAND
OR	0.97	0.88	0.95		0.9	0.21	0.68	0.61	0.44	0.74	OR
FNV	0.95	0.97	0.87	0.9		0.43	0.56	0.79	0.72	0.81	FNV
PAAS	0.39	0.49	0.14	0.21	0.43		0.45	0.51	0.66	0.7	PAAS
SSRM	0.7	0.54	0.62	0.68	0.56	0.45		0.33	0.2	0.75	SSRM
DRD	0.72	0.83	0.57	0.61	0.79	0.51	0.33		0.84	0.55	DRD
AGI	0.57	0.78	0.44	0.44	0.72	0.66	0.2	0.84		0.57	AGI
SA	0.83	0.8	0.69	0.74	0.81	0.7	0.75	0.55	0.57		SA
	WPM	AEM	SAND	OR	FNV	PAAS	SSRM	DRD	AGI	SA

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Risk-Adjusted Indicators

There is a big difference between Royal Stock performing well and Royal Gold 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 Royal Gold'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
WPM	1.82	0.37	0.14	1.47	2.45	(2.08)	4.39	(2.93)	13.67
AEM	1.85	0.29	0.10	2.55	2.65	(1.94)	5.33	(3.35)	14.92
SAND	1.97	0.69	0.28	(9.32)	1.98	(2.40)	5.09	(3.02)	14.98
OR	1.90	0.51	0.22	3.42	1.98	(2.24)	5.87	(2.37)	14.58
FNV	1.55	0.23	0.09	0.81	2.20	(1.49)	4.83	(3.06)	11.81
PAAS	2.53	0.29	0.07	0.39	4.14	(2.61)	6.49	(4.71)	28.48
SSRM	2.70	0.46	0.13	5.95	3.26	(3.00)	6.76	(5.45)	17.00
DRD	3.07	0.20	0.05	4.21	4.13	(3.48)	7.62	(5.91)	21.75
AGI	2.18	0.18	0.05	0.68	3.09	(2.23)	5.39	(3.93)	18.11
SA	2.61	0.50	0.14	0.74	3.08	(3.03)	5.25	(4.16)	19.04

Royal Gold Corporate Management

Laura JD	Corporate VP	Profile
David Esq	Corporate VP	Profile
Paul Libner	CFO Treasurer	Profile
Alistair Baker	VP Devel	Profile
Martin PEng	Senior Operations	Profile

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