Agnico Eagle Correlations
| AEM Stock | CAD 87.26 1.30 1.51% |
The correlation of Agnico Eagle 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 Agnico Eagle moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Agnico Eagle Mines 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.
Weak diversification
The correlation between Agnico Eagle Mines and NYA 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 Agnico Eagle Mines and NYA in the same portfolio, assuming nothing else is changed.
Agnico |
The ability to find closely correlated positions to Agnico Eagle could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Agnico Eagle 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 Agnico Eagle - 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 Agnico Eagle Mines to buy it.
Moving together with Agnico Stock
| 0.95 | ASM | Avino Silver Gold | PairCorr |
| 0.95 | CNQ | Canadian Natural Res Earnings Call Next Week | PairCorr |
| 0.95 | VCM | Vecima Networks | PairCorr |
| 0.62 | BIP-PB | Brookfield Infrastructure | PairCorr |
| 0.91 | IVN | Ivanhoe Mines Earnings Call This Week | PairCorr |
Moving against Agnico Stock
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Agnico Stock performing well and Agnico Eagle 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 Agnico Eagle'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FNV | 1.31 | 0.13 | 0.07 | 0.26 | 1.32 | 2.98 | 6.42 | |||
| K | 1.71 | 0.24 | 0.13 | 0.28 | 1.73 | 3.88 | 10.54 | |||
| ABX | 1.35 | 0.07 | 0.03 | 0.18 | 1.71 | 2.97 | 9.18 | |||
| WPM | 1.48 | 0.16 | 0.07 | 0.29 | 1.88 | 3.44 | 10.38 | |||
| ELD | 1.81 | 0.16 | 0.06 | 0.26 | 2.59 | 3.97 | 12.47 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Agnico Eagle 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 FinTech Suite Now
FinTech SuiteUse AI to screen and filter profitable investment opportunities |
| All Next | Launch Module |
Agnico Eagle Corporate Directors
Agnico Eagle corporate directors refer to members of an Agnico Eagle board of directors. The board of directors generally takes responsibility for the Agnico Eagle'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 Agnico Eagle's board members must vote for the resolution. The Agnico Eagle board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Leanne Baker | Independent Director | Profile | |
| Mel Leiderman | Independent Director | Profile | |
| Pertti Voutilainen | Independent Director | Profile | |
| Deborah McCombe | Independent Director | Profile |
Already Invested in Agnico Eagle Mines?
The danger of trading Agnico Eagle Mines 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 Agnico Eagle 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 Agnico Eagle. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Agnico Eagle Mines 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 Agnico Eagle Mines is a strong investment it is important to analyze Agnico Eagle'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 Agnico Eagle's future performance. For an informed investment choice regarding Agnico Stock, refer to the following important reports: Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Agnico Eagle Mines. 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. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Complementary Tools for Agnico Stock analysis
When running Agnico Eagle's price analysis, check to measure Agnico Eagle'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 Agnico Eagle is operating at the current time. Most of Agnico Eagle's value examination focuses on studying past and present price action to predict the probability of Agnico Eagle's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Agnico Eagle's price. Additionally, you may evaluate how the addition of Agnico Eagle to your portfolios can decrease your overall portfolio volatility.
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Stocks Directory Find actively traded stocks across global markets | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |