First Majestic Correlations

AG Stock   8.97  0.09  0.99%   
The current 90-days correlation between First Majestic Silver and Arbor Metals Corp is -0.13 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Majestic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Majestic Silver moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Majestic Correlation With Market

Modest diversification

The correlation between First Majestic Silver and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Majestic Silver and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to First Majestic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace First Majestic 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 First Majestic - 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 First Majestic Silver to buy it.

Moving together with First Stock

  0.67IE Ivanhoe EnergyPairCorr

Moving against First Stock

  0.37WCN Waste ConnectionsPairCorr

Related Correlations Analysis

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   
IPOABR
IPOTSL
IPOOGD
AMCIPO
OGDABR
OGDTSL
  
High negative correlations   
AMCPPL
PPLIPO
ICEABR
PPLABR
ICEOGD
AMCICE

Risk-Adjusted Indicators

There is a big difference between First Stock performing well and First Majestic 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 First Majestic'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in First Majestic 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 Pair Correlation Now

   

Pair Correlation

Compare performance and examine fundamental relationship between any two equity instruments
All  Next Launch Module

First Majestic Corporate Management

Elected by the shareholders, the First Majestic's board of directors comprises two types of representatives: First Majestic inside directors who are chosen from within the company, and outside directors, selected externally and held independent of First. The board's role is to monitor First Majestic's management team and ensure that shareholders' interests are well served. First Majestic'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, First Majestic's outside directors are responsible for providing unbiased perspectives on the board's policies.
Mani AlkhafajiVP RelationsProfile
Colin BowerVice OperationsMexicoProfile
Jill AriasVice MarketingProfile
Gonzalo MercadoVice ServicesProfile
LLB LLBGeneral SecretaryProfile