New Pacific Metals Corp. (NEWP) — Stock Correlations & Overview
Over the past year, NEWP has moved most closely with SLVR, SILJ, SLVP. Explore the stocks most correlated and inversely correlated with NEWP below, along with its price, financials, and company profile.
Stocks correlated with NEWP
Correlation of daily returns. Higher positive values move with NEWP; negative values move opposite it. Informational only, not investment advice.
Most correlated with NEWP
| Symbol | Company | Correlation |
|---|---|---|
| SLVR | Sprott Silver Miners & Physical Silver ETFBLANK CHECKS | 0.80 |
| SILJ | Amplify Junior Silver Miners ETF | 0.79 |
| SLVP | iShares MSCI Global Silver and Metals Miners ETF | 0.79 |
| AGMI | Themes Silver Miners ETF | 0.79 |
| SIL | Global X Silver Miners ETF (NEW) | 0.78 |
Most inversely correlated with NEWP
| Symbol | Company | Correlation |
|---|---|---|
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.75 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.74 |
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.74 |
| ZSL | ProShares UltraShort SilverCOMMODITY CONTRACTS BROKERS & DEALERS | -0.68 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.64 |
Frequently asked questions about NEWP correlations
- Which stocks are most correlated with NEWP?
- Based on one year of daily returns, the stocks most correlated with New Pacific Metals Corp. (NEWP) are SLVR (0.80), SILJ (0.79) and SLVP (0.79). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with NEWP?
- Over the past year, the stocks most inversely correlated with New Pacific Metals Corp. (NEWP) are JDST (-0.75), DUST (-0.74) and GDXD (-0.74). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these NEWP correlations calculated?
- We compute the correlation of daily returns between NEWP and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.