ANDRADA MINING Correlations

9IA Stock

EUR 0.02 0.0005 2.08%

The current 90-days correlation between ANDRADA MINING LTD and NIPPON STEEL SPADR is 0.03 (i.e., Significant diversification). The correlation of ANDRADA MINING 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.

ANDRADA MINING Correlation With Market

Significant diversification

The correlation between ANDRADA MINING LTD and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ANDRADA MINING LTD and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ANDRADA Stock

0.79	LYV	Lundin Energy AB	Pair Corr
0.75	D7GA	NEL ASA ADR30	Pair Corr

Moving against ANDRADA Stock

0.65	3FN	Adriatic Metals Plc	Pair Corr
0.64	NE0	NEXA RESOURCES SA	Pair Corr
0.61	1JU	FATFISH GROUP LTD	Pair Corr
0.6	3FNA	ADRIATIC METALS LS	Pair Corr
0.48	5LA1	American Lithium Corp	Pair Corr
0.37	NGLB	Anglo American plc	Pair Corr
0.37	SWTF	Intouch Holdings Public	Pair Corr
0.31	LIS	Liontown Resources	Pair Corr

Related Correlations Analysis

	NPSA	BH5	CMR	USX1	RS6	CMR	7VS	TIA
NPSA		-0.13	0.04	-0.34	-0.34	0.03	0.77	-0.42	NPSA
BH5	-0.13		0.52	0.36	0.49	0.51	-0.17	0.68	BH5
CMR	0.04	0.52		-0.18	-0.21	1.0	0.22	0.13	CMR
USX1	-0.34	0.36	-0.18		0.75	-0.18	-0.6	0.59	USX1
RS6	-0.34	0.49	-0.21	0.75		-0.22	-0.62	0.7	RS6
CMR	0.03	0.51	1.0	-0.18	-0.22		0.22	0.12	CMR
7VS	0.77	-0.17	0.22	-0.6	-0.62	0.22		-0.54	7VS
TIA	-0.42	0.68	0.13	0.59	0.7	0.12	-0.54		TIA
	NPSA	BH5	CMR	USX1	RS6	CMR	7VS	TIA

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

CMR	+ 1.0	CMR
7VS	+ 0.77	NPSA
RS6	+ 0.75	USX1
TIA	+ 0.7	RS6
TIA	+ 0.68	BH5
TIA	+ 0.59	USX1

High negative correlations

7VS	- 0.62	RS6
7VS	- 0.6	USX1
TIA	- 0.54	7VS
TIA	- 0.42	NPSA
RS6	- 0.34	NPSA
USX1	- 0.34	NPSA

Risk-Adjusted Indicators

There is a big difference between ANDRADA Stock performing well and ANDRADA MINING 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 ANDRADA MINING'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
NPSA	1.30	(0.14)	0.00	0.97	0.00	0.00	2.44	(2.44)	9.79
BH5	1.64	0.05	0.01	0.19	1.78	(1.95)	3.23	(3.25)	10.33
CMR	1.47	0.11	(0.01)	(0.46)	1.97	(2.53)	5.17	(4.92)	18.71
USX1	2.22	0.02	0.03	0.13	2.76	(2.74)	5.42	(4.86)	15.57
RS6	1.15	0.22	0.12	0.37	1.28	(1.27)	2.30	(1.85)	8.40
CMR	1.49	0.12	(0.01)	(0.35)	1.99	(2.44)	5.74	(4.92)	17.78
7VS	1.68	(0.27)	0.00	(0.29)	0.00	0.00	3.10	(3.92)	15.50
TIA	1.94	0.24	0.02	(0.74)	2.37	(3.98)	3.23	(5.13)	23.04

Be your own money manager

Our tools can tell you how much better you can do entering a position in ANDRADA MINING 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 Bollinger Bands Now

Bollinger Bands

Use Bollinger Bands indicator to analyze target price for a given investing horizon

All Next

Launch Module

ANDRADA MINING Corporate Executives

Elected by the shareholders, the ANDRADA MINING's board of directors comprises two types of representatives: ANDRADA MINING inside directors who are chosen from within the company, and outside directors, selected externally and held independent of ANDRADA. The board's role is to monitor ANDRADA MINING's management team and ensure that shareholders' interests are well served. ANDRADA MINING'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, ANDRADA MINING's outside directors are responsible for providing unbiased perspectives on the board's policies.

Jacques Bonnet	Chief Financial Officer	Profile
Robert Sewell	Chief Financial Officer	Profile
Frans Daalen	Chief Operating Officer	Profile

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC