Altius Minerals Correlations

ALS Stock

CAD 45.29 0.15 0.33%

The current 90-days correlation between Altius Minerals and Labrador Iron Ore is 0.45 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Altius Minerals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Altius Minerals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Altius Minerals Correlation With Market

Poor diversification

The correlation between Altius Minerals and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Altius Minerals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Altius Stock

0.9	AG	First Majestic Silver	Pair Corr
0.82	IE	Ivanhoe Energy Earnings Call This Week	Pair Corr
0.87	ORE	Orezone Gold Corp	Pair Corr
0.84	FDY	Faraday Copper Corp	Pair Corr
0.62	TCL-A	Transcontinental	Pair Corr
0.74	BTO	B2Gold Corp	Pair Corr
0.62	MDM	Madoro Metals Corp	Pair Corr
0.77	TOT	Total Energy Services	Pair Corr
0.86	TF	Timbercreek Financial Earnings Call Tomorrow	Pair Corr
0.9	ATX	ATEX Resources	Pair Corr
0.71	QNC	Quantum eMotion Corp	Pair Corr
0.76	NSE	New Stratus Energy	Pair Corr
0.83	SLF-PJ	Sun Life Financial	Pair Corr
0.85	TUO	Teuton Resources Corp	Pair Corr
0.62	BN-PFI	Brookfield	Pair Corr
0.81	TUF	Honey Badger Silver	Pair Corr
0.64	NAR	North Arrow Minerals	Pair Corr
0.89	FTEC	Fintech Select	Pair Corr
0.87	GMG	Graphene Manufacturing Earnings Call This Week	Pair Corr
0.61	GKO	Geekco Technologies Corp	Pair Corr
0.83	MOLY	Greenland Resources	Pair Corr

Moving against Altius Stock

0.78	AAPL	Apple CDR	Pair Corr
0.78	AAPL	Apple Inc CDR	Pair Corr
0.56	MSFT	Microsoft Corp CDR	Pair Corr
0.56	MSFT	Microsoft CDR	Pair Corr

Related Correlations Analysis

	LIF	LAC	AFM	AII	VZLA	NDM	FOM	VNP	SVM	SLI
LIF		0.37	0.65	0.32	0.4	0.33	0.51	0.08	0.6	0.64	LIF
LAC	0.37		0.32	-0.29	0.73	0.36	0.06	-0.4	0.28	0.67	LAC
AFM	0.65	0.32		0.7	0.35	0.36	0.85	0.41	0.89	0.48	AFM
AII	0.32	-0.29	0.7		-0.29	-0.01	0.89	0.84	0.75	-0.08	AII
VZLA	0.4	0.73	0.35	-0.29		0.61	0.02	-0.64	0.27	0.86	VZLA
NDM	0.33	0.36	0.36	-0.01	0.61		0.15	-0.32	0.25	0.64	NDM
FOM	0.51	0.06	0.85	0.89	0.02	0.15		0.65	0.9	0.17	FOM
VNP	0.08	-0.4	0.41	0.84	-0.64	-0.32	0.65		0.46	-0.47	VNP
SVM	0.6	0.28	0.89	0.75	0.27	0.25	0.9	0.46		0.39	SVM
SLI	0.64	0.67	0.48	-0.08	0.86	0.64	0.17	-0.47	0.39		SLI
	LIF	LAC	AFM	AII	VZLA	NDM	FOM	VNP	SVM	SLI

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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

SVM	+ 0.9	FOM
SVM	+ 0.89	AFM
FOM	+ 0.89	AII
SLI	+ 0.86	VZLA
FOM	+ 0.85	AFM
VNP	+ 0.84	AII

High negative correlations

VNP	- 0.64	VZLA
SLI	- 0.47	VNP
VNP	- 0.4	LAC
VNP	- 0.32	NDM
VZLA	- 0.29	AII
AII	- 0.29	LAC

Risk-Adjusted Indicators

There is a big difference between Altius Stock performing well and Altius Minerals 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 Altius Minerals' 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
LIF	0.90	0.09	0.05	0.31	0.97	(1.00)	2.51	(1.98)	6.10
LAC	3.62	(0.16)	0.00	(0.06)	0.00	0.00	7.40	(6.82)	19.86
AFM	3.07	0.42	0.10	0.40	3.55	(3.58)	7.83	(6.43)	16.95
AII	4.41	1.48	0.34	1.38	3.71	(5.60)	9.89	(6.83)	27.59
VZLA	3.57	(0.23)	0.00	(0.10)	0.00	0.00	6.63	(12.50)	23.41
NDM	4.85	(0.01)	0.00	0.05	8.08	(5.22)	9.03	(10.03)	51.18
FOM	2.93	0.95	0.26	2.53	2.76	(3.42)	6.71	(5.16)	15.83
VNP	2.88	0.57	0.20	0.55	2.68	(3.53)	5.94	(4.50)	26.45
SVM	3.43	0.94	0.19	0.59	4.42	(3.79)	8.16	(5.88)	27.02
SLI	3.89	0.29	0.06	0.28	4.77	(4.16)	8.57	(7.97)	25.39

Be your own money manager

Our tools can tell you how much better you can do entering a position in Altius Minerals 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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