U.S. GoldMining Inc. Common stock (USGO) — Stock Correlations & Overview
Over the past year, USGO has moved most closely with SVM, METL, GDMN. Explore the stocks most correlated and inversely correlated with USGO below, along with its price, financials, and company profile.
Stocks correlated with USGO
Correlation of daily returns. Higher positive values move with USGO; negative values move opposite it. Informational only, not investment advice.
Most correlated with USGO
| Symbol | Company | Correlation |
|---|---|---|
| SVM | Silvercorp Metals Inc. Common Shares | 0.56 |
| METL | Sprott Active Metals & Miners ETF | 0.55 |
| GDMN | WisdomTree Efficient Gold Plus Gold Miners Strategy Fund | 0.55 |
| SLVP | iShares MSCI Global Silver and Metals Miners ETF | 0.54 |
| GBUG | Sprott Active Gold & Silver Miners ETF | 0.54 |
Most inversely correlated with USGO
| Symbol | Company | Correlation |
|---|---|---|
| GDXD | MicroSectors Gold Miners -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.52 |
| GLL | ProShares UltraShort GoldCOMMODITY CONTRACTS BROKERS & DEALERS | -0.52 |
| DUST | Direxion Daily Gold Miners Index Bear 2X ETF | -0.52 |
| JDST | Direxion Daily Junior Gold Miners Index Bear 2X ETF | -0.51 |
| DULL | MicroSectors Gold -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.51 |
Frequently asked questions about USGO correlations
- Which stocks are most correlated with USGO?
- Based on one year of daily returns, the stocks most correlated with U.S. GoldMining Inc. Common stock (USGO) are SVM (0.56), METL (0.55) and GDMN (0.55). 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 USGO?
- Over the past year, the stocks most inversely correlated with U.S. GoldMining Inc. Common stock (USGO) are GDXD (-0.52), GLL (-0.52) and DUST (-0.52). 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 USGO correlations calculated?
- We compute the correlation of daily returns between USGO 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.
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