Aruma Resources Correlations

AAJ Stock

0.01 0 10.00%

The current 90-days correlation between Aruma Resources and Stelar Metals is -0.01 (i.e., Good diversification). The correlation of Aruma Resources 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Aruma Resources Correlation With Market

Significant diversification

The correlation between Aruma Resources and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aruma Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Aruma Stock

0.69	SFR	Sandfire Resources	Pair Corr
0.75	BHP	BHP Group Limited	Pair Corr

Moving against Aruma Stock

0.8	DEG	De Grey Mining	Pair Corr
0.73	NABPF	National Australia Bank	Pair Corr
0.56	MBLPC	Macquarie Bank	Pair Corr
0.44	EVN	Evolution Mining	Pair Corr
0.39	CBAPI	Commonwealth Bank	Pair Corr

Related Correlations Analysis

	DDR	NFNG	CTM	NFL	BKT	ABV	SLB
DDR		-0.43	0.52	0.38	0.42	0.19	0.18	DDR
NFNG	-0.43		-0.78	-0.29	-0.79	-0.06	-0.65	NFNG
CTM	0.52	-0.78		0.34	0.75	0.18	0.52	CTM
NFL	0.38	-0.29	0.34		0.39	0.01	0.32	NFL
BKT	0.42	-0.79	0.75	0.39		-0.06	0.62	BKT
ABV	0.19	-0.06	0.18	0.01	-0.06		-0.34	ABV
SLB	0.18	-0.65	0.52	0.32	0.62	-0.34		SLB
	DDR	NFNG	CTM	NFL	BKT	ABV	SLB

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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

BKT	+ 0.75	CTM
SLB	+ 0.62	BKT
CTM	+ 0.52	DDR
SLB	+ 0.52	CTM
BKT	+ 0.42	DDR
BKT	+ 0.39	NFL

High negative correlations

BKT	- 0.79	NFNG
CTM	- 0.78	NFNG
SLB	- 0.65	NFNG
NFNG	- 0.43	DDR
SLB	- 0.34	ABV
NFL	- 0.29	NFNG

Risk-Adjusted Indicators

There is a big difference between Aruma Stock performing well and Aruma Resources 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 Aruma Resources' 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
DDR	1.03	0.00	(0.05)	0.07	1.43	(1.06)	1.93	(2.08)	7.07
NFNG	0.54	0.03	(0.06)	0.37	0.62	(0.66)	1.19	(1.07)	4.50
CTM	3.03	(0.08)	0.00	0.20	0.00	0.00	5.71	(6.82)	14.86
NFL	2.75	0.06	0.01	0.14	4.40	(8.43)	9.09	(8.33)	38.10
BKT	2.94	(0.46)	0.00	(2.79)	0.00	0.00	5.71	(7.89)	24.01
ABV	1.78	0.29	0.06	(2.55)	1.84	(3.08)	5.06	(3.57)	15.01
SLB	1.73	(0.20)	0.00	204.54	0.00	0.00	4.41	(5.80)	19.17

Be your own money manager

Our tools can tell you how much better you can do entering a position in Aruma Resources 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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Aruma Resources Corporate Management

Elected by the shareholders, the Aruma Resources' board of directors comprises two types of representatives: Aruma Resources inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Aruma. The board's role is to monitor Aruma Resources' management team and ensure that shareholders' interests are well served. Aruma Resources' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Aruma Resources' outside directors are responsible for providing unbiased perspectives on the board's policies.

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