NEW PACIFIC Correlations

3N7A Stock

EUR 1.41 0.03 2.17%

The current 90-days correlation between NEW PACIFIC METALS and Superior Plus Corp is 0.03 (i.e., Significant diversification). The correlation of NEW PACIFIC 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.

NEW PACIFIC Correlation With Market

Modest diversification

The correlation between NEW PACIFIC METALS and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding NEW PACIFIC METALS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to NEW PACIFIC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace NEW PACIFIC 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 NEW PACIFIC - 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 NEW PACIFIC METALS to buy it.

Moving together with NEW Stock

0.9

FNL

Fresnillo plc

Pair Corr

Moving against NEW Stock

0.46

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	3N7A	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL
3N7A		-0.44	-0.28	0.49	0.34	0.52	-0.15	-0.21	0.41	0.29	3N7A
8SP	-0.44		0.7	-0.48	-0.73	-0.33	0.49	-0.18	-0.7	-0.71	8SP
2DG	-0.28	0.7		-0.55	-0.9	-0.26	0.79	-0.67	-0.93	-0.8	2DG
NOH1	0.49	-0.48	-0.55		0.62	0.52	-0.35	0.28	0.61	0.42	NOH1
RS6	0.34	-0.73	-0.9	0.62		0.25	-0.77	0.62	0.95	0.74	RS6
XYTA	0.52	-0.33	-0.26	0.52	0.25		0.09	-0.17	0.32	0.26	XYTA
9K1	-0.15	0.49	0.79	-0.35	-0.77	0.09		-0.83	-0.82	-0.6	9K1
3RKU	-0.21	-0.18	-0.67	0.28	0.62	-0.17	-0.83		0.67	0.38	3RKU
VUSA	0.41	-0.7	-0.93	0.61	0.95	0.32	-0.82	0.67		0.77	VUSA
MEL	0.29	-0.71	-0.8	0.42	0.74	0.26	-0.6	0.38	0.77		MEL
	3N7A	8SP	2DG	NOH1	RS6	XYTA	9K1	3RKU	VUSA	MEL

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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

VUSA	+ 0.95	RS6
9K1	+ 0.79	2DG
MEL	+ 0.77	VUSA
MEL	+ 0.74	RS6
2DG	+ 0.7	8SP
VUSA	+ 0.67	3RKU

High negative correlations

VUSA	- 0.93	2DG
RS6	- 0.9	2DG
3RKU	- 0.83	9K1
VUSA	- 0.82	9K1
MEL	- 0.8	2DG
9K1	- 0.77	RS6

Risk-Adjusted Indicators

There is a big difference between NEW Stock performing well and NEW PACIFIC 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 NEW PACIFIC'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
3N7A	2.99	0.27	0.09	0.35	2.92	(3.68)	7.93	(4.73)	19.17
8SP	2.07	(0.04)	0.00	(1.30)	0.00	0.00	3.36	(3.96)	20.22
2DG	4.93	(1.15)	0.00	(0.41)	0.00	0.00	9.09	(10.00)	52.42
NOH1	2.05	0.21	0.09	0.42	1.77	(2.78)	6.61	(3.25)	13.10
RS6	1.32	0.26	0.13	1.55	1.15	(1.51)	2.94	(2.03)	13.65
XYTA	11.55	4.09	0.13	(1.84)	8.11	(58.33)	33.33	(20.00)	233.33
9K1	1.64	(0.32)	0.00	2.31	0.00	0.00	2.94	(4.62)	14.80
3RKU	1.54	0.42	0.20	1.86	1.23	(2.15)	3.31	(2.40)	9.54
VUSA	0.54	0.13	0.13	0.25	0.47	(0.60)	1.19	(1.04)	6.02
MEL	1.08	0.17	0.06	1.42	1.07	(1.27)	2.95	(1.78)	7.09

Be your own money manager

Our tools can tell you how much better you can do entering a position in NEW PACIFIC 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.

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