American Clean Correlations
| ACRG Stock | USD 10.00 0.30 3.09% |
The current 90-days correlation between American Clean Resources and Silver Bullet Mines is -0.05 (i.e., Good diversification). The correlation of American Clean 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.
American Clean Correlation With Market
Poor diversification
The correlation between American Clean Resources and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding American Clean Resources and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to American Clean could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace American Clean 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 American Clean - 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 American Clean Resources to buy it.
Moving together with American Pink Sheet
| 0.84 | AGPPF | Anglo American Platinum | PairCorr |
| 0.85 | ANGPY | Valterra Platinum | PairCorr |
| 0.87 | IMPUY | Impala Platinum Holdings | PairCorr |
| 0.85 | IMPUF | Impala Platinum Holdings | PairCorr |
| 0.9 | BVN | Compania de Minas | PairCorr |
| 0.88 | FNLPF | Fresnillo PLC | PairCorr |
| 0.83 | TFPM | Triple Flag Precious | PairCorr |
| 0.8 | PPTA | Perpetua Resources Corp | PairCorr |
| 0.87 | EXK | Endeavour Silver Corp | PairCorr |
| 0.62 | NFPDF | Nissin Foods Holdings Earnings Call Today | PairCorr |
| 0.78 | FMCB | Farmers Merchants Bancorp Earnings Call Today | PairCorr |
| 0.75 | DAIUF | Daifuku Co | PairCorr |
| 0.69 | FUWAF | Furukawa Electric | PairCorr |
| 0.67 | BWA | BorgWarner Earnings Call This Week | PairCorr |
| 0.72 | WONDF | WonderFi Technologies | PairCorr |
| 0.74 | HST | Host Hotels Resorts | PairCorr |
| 0.77 | BBAR | BBVA Banco Frances | PairCorr |
| 0.61 | AXIN | Axiom Intelligence | PairCorr |
| 0.75 | DIOD | Diodes Incorporated Earnings Call This Week | PairCorr |
| 0.86 | TERRF | Terna Rete | PairCorr |
| 0.68 | TCX | Tucows Inc | PairCorr |
| 0.9 | NHYDY | Norsk Hydro ASA | PairCorr |
| 0.66 | CW | Curtiss Wright | PairCorr |
| 0.82 | TLSNF | Telia Company | PairCorr |
| 0.8 | PGEZF | Group Ten Metals | PairCorr |
| 0.61 | TYIDF | Toyota Industries Corp Earnings Call Today | PairCorr |
| 0.83 | WFG | West Fraser Timber | PairCorr |
| 0.67 | SRRK | Scholar Rock Holding | PairCorr |
| 0.69 | UGP | Ultrapar Participacoes | PairCorr |
Moving against American Pink Sheet
| 0.76 | NDEKY | Nitto Denko Corp | PairCorr |
| 0.71 | ENSV | Enservco | PairCorr |
| 0.67 | 50077LAD8 | KRAFT HEINZ FOODS | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between American Pink Sheet performing well and American Clean 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 American Clean'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| WEXPF | 3.70 | 0.57 | 0.09 | (0.99) | 3.73 | 8.00 | 60.00 | |||
| ESGLF | 4.94 | (0.27) | 0.00 | 0.29 | 0.00 | 10.00 | 40.00 | |||
| BBBXF | 4.79 | 1.00 | 0.15 | 0.94 | 4.87 | 15.91 | 32.58 | |||
| RGXTF | 11.58 | 0.70 | 0.04 | 0.30 | 13.51 | 34.46 | 142.22 | |||
| SBMCF | 4.05 | (0.15) | 0.00 | (0.07) | 0.00 | 6.67 | 21.76 | |||
| CPPMF | 5.17 | 1.12 | 0.13 | 3.28 | 5.02 | 12.50 | 31.00 | |||
| MRZLF | 3.75 | 0.69 | 0.10 | (1.19) | 3.83 | 12.12 | 27.52 | |||
| WAMFF | 4.60 | 0.47 | 0.08 | 0.95 | 5.08 | 10.45 | 25.14 | |||
| DNRSF | 4.58 | 0.39 | 0.06 | 0.27 | 5.22 | 11.32 | 29.61 | |||
| TLSMF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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