Athena Gold Correlations

AHNR Stock

USD 0.04 0.00 0.00%

The current 90-days correlation between Athena Gold Corp and Gold79 Mines is 0.13 (i.e., Average diversification). The correlation of Athena Gold 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.

Athena Gold Correlation With Market

Average diversification

The correlation between Athena Gold Corp and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Athena Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Athena OTC Stock

0.4	AUCOY	Polymetal International	Pair Corr
0.39	ZMPLF	Zimplats Holdings	Pair Corr

Related Correlations Analysis

	ARRKF	AMNP	AUSVF	CRTIF	ASLRF	ASDZF	AUIAF	DDNFF	ACRG	ACKRF
ARRKF		0.62	-0.77	0.51	-0.12	0.18	-0.07	0.35	0.56	-0.38	ARRKF
AMNP	0.62		-0.68	0.47	-0.02	0.3	0.07	0.49	0.58	-0.51	AMNP
AUSVF	-0.77	-0.68		-0.61	0.0	-0.28	0.07	-0.42	-0.72	0.47	AUSVF
CRTIF	0.51	0.47	-0.61		0.2	0.18	0.24	0.54	0.79	-0.65	CRTIF
ASLRF	-0.12	-0.02	0.0	0.2		0.07	0.11	0.27	0.21	0.03	ASLRF
ASDZF	0.18	0.3	-0.28	0.18	0.07		-0.07	0.29	0.04	-0.2	ASDZF
AUIAF	-0.07	0.07	0.07	0.24	0.11	-0.07		0.43	0.31	-0.28	AUIAF
DDNFF	0.35	0.49	-0.42	0.54	0.27	0.29	0.43		0.65	-0.57	DDNFF
ACRG	0.56	0.58	-0.72	0.79	0.21	0.04	0.31	0.65		-0.61	ACRG
ACKRF	-0.38	-0.51	0.47	-0.65	0.03	-0.2	-0.28	-0.57	-0.61		ACKRF
	ARRKF	AMNP	AUSVF	CRTIF	ASLRF	ASDZF	AUIAF	DDNFF	ACRG	ACKRF

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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

ACRG	+ 0.79	CRTIF
ACRG	+ 0.65	DDNFF
AMNP	+ 0.62	ARRKF
ACRG	+ 0.58	AMNP
ACRG	+ 0.56	ARRKF
DDNFF	+ 0.54	CRTIF

High negative correlations

AUSVF	- 0.77	ARRKF
ACRG	- 0.72	AUSVF
AUSVF	- 0.68	AMNP
ACKRF	- 0.65	CRTIF
ACKRF	- 0.61	ACRG
CRTIF	- 0.61	AUSVF

Risk-Adjusted Indicators

There is a big difference between Athena OTC Stock performing well and Athena Gold OTC Stock 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 Athena Gold'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
ARRKF	3.28	(0.08)	0.00	(8.94)	0.00	0.00	5.00	(8.70)	25.39
AMNP	7.98	0.14	0.00	0.29	10.64	(37.86)	40.00	(20.00)	83.33
AUSVF	3.52	0.39	0.03	(2.11)	4.58	(6.84)	9.52	(8.70)	25.56
CRTIF	15.63	4.34	0.13	1.55	14.10	(61.50)	24.58	(22.64)	449.50
ASLRF	79.26	33.12	0.62	0.88	20.91	(322.53)	75.00	(61.54)	2,179
ASDZF	1.21	(0.36)	0.00	(0.35)	0.00	0.00	0.00	0.00	39.71
AUIAF	4.30	(0.53)	0.00	(0.54)	0.00	0.00	10.26	(9.80)	40.28
DDNFF	3.03	(0.10)	0.00	(0.01)	0.00	0.00	0.00	0.00	83.33
ACRG	1.26	(0.62)	0.00	2.36	0.00	0.00	0.00	0.00	42.29
ACKRF	4.79	1.61	0.17	(0.44)	3.64	(10.58)	8.33	(7.69)	94.57

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Our tools can tell you how much better you can do entering a position in Athena Gold 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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