Amex Exploration Correlations

AMXEF Stock

USD 3.25 0.01 0.31%

The current 90-days correlation between Amex Exploration and Liberty Gold Corp is 0.39 (i.e., Weak diversification). The correlation of Amex Exploration 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.

Amex Exploration Correlation With Market

Very poor diversification

The correlation between Amex Exploration and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amex Exploration and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Amex OTC Stock

0.84	ATCOL	Atlas Corp	Pair Corr
0.65	PBMRF	PT Bumi Resources	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.75	INTC	Intel	Pair Corr
0.76	DD	Dupont De Nemours	Pair Corr
0.7	CAT	Caterpillar	Pair Corr
0.8	WMT	Walmart Common Stock	Pair Corr
0.92	AA	Alcoa Corp	Pair Corr
0.92	BA	Boeing	Pair Corr

Moving against Amex OTC Stock

0.83	GCMGW	GCM Grosvenor	Pair Corr
0.77	MAPSW	WM Technology	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.66	CMWCF	Cromwell Property	Pair Corr
0.65	ADVWW	Advantage Solutions	Pair Corr
0.55	MSFT	Microsoft	Pair Corr
0.42	PCTTW	PureCycle Technologies	Pair Corr
0.41	PBCRF	PT Bank Central	Pair Corr
0.38	BKRKF	PT Bank Rakyat Earnings Call Today	Pair Corr
0.33	MMM	3M Company	Pair Corr

Related Correlations Analysis

	SRBIF	GGAZF	LGDTF	NSUPF	SITKF	MMTMF	FDMIF	CNMVF	BYAGF	RMRDF
SRBIF		0.75	0.47	0.7	-0.36	0.79	0.56	0.0	0.81	0.41	SRBIF
GGAZF	0.75		0.68	0.83	-0.46	0.8	0.31	0.0	0.79	0.02	GGAZF
LGDTF	0.47	0.68		0.8	-0.59	0.7	-0.06	0.0	0.66	-0.16	LGDTF
NSUPF	0.7	0.83	0.8		-0.64	0.76	0.16	0.0	0.75	0.05	NSUPF
SITKF	-0.36	-0.46	-0.59	-0.64		-0.45	-0.12	0.0	-0.63	0.03	SITKF
MMTMF	0.79	0.8	0.7	0.76	-0.45		0.42	0.0	0.79	0.22	MMTMF
FDMIF	0.56	0.31	-0.06	0.16	-0.12	0.42		0.0	0.56	0.49	FDMIF
CNMVF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	CNMVF
BYAGF	0.81	0.79	0.66	0.75	-0.63	0.79	0.56	0.0		0.22	BYAGF
RMRDF	0.41	0.02	-0.16	0.05	0.03	0.22	0.49	0.0	0.22		RMRDF
	SRBIF	GGAZF	LGDTF	NSUPF	SITKF	MMTMF	FDMIF	CNMVF	BYAGF	RMRDF

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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

NSUPF	+ 0.83	GGAZF
BYAGF	+ 0.81	SRBIF
MMTMF	+ 0.8	GGAZF
NSUPF	+ 0.8	LGDTF
MMTMF	+ 0.79	SRBIF
BYAGF	+ 0.79	GGAZF

High negative correlations

SITKF	- 0.64	NSUPF
BYAGF	- 0.63	SITKF
SITKF	- 0.59	LGDTF
SITKF	- 0.46	GGAZF
MMTMF	- 0.45	SITKF
SITKF	- 0.36	SRBIF

Risk-Adjusted Indicators

There is a big difference between Amex OTC Stock performing well and Amex Exploration 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 Amex Exploration'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
SRBIF	4.17	0.77	0.07	(0.49)	5.27	(5.73)	11.82	(7.79)	33.72
GGAZF	4.32	0.50	0.08	0.84	4.81	(5.16)	12.73	(8.26)	28.86
LGDTF	3.68	1.09	0.27	0.74	3.20	(5.43)	9.23	(4.48)	26.94
NSUPF	3.73	1.03	0.23	3.26	3.11	(4.82)	8.41	(6.11)	64.43
SITKF	2.77	(0.05)	0.00	0.18	0.00	0.00	5.48	(6.67)	15.41
MMTMF	3.57	0.47	0.13	0.32	3.91	(4.45)	7.69	(7.59)	24.57
FDMIF	2.51	0.03	0.00	0.11	3.13	(2.96)	4.46	(6.80)	15.06
CNMVF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BYAGF	3.79	0.57	0.12	0.57	4.07	(4.71)	10.17	(6.85)	22.08
RMRDF	3.74	0.02	0.02	0.09	4.26	(5.11)	8.20	(8.93)	23.42

Be your own money manager

Our tools can tell you how much better you can do entering a position in Amex Exploration 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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