AnorTech Correlations

ANOR Stock

0.07 0.01 7.14%

The current 90-days correlation between AnorTech and Barksdale Resources Corp is -0.02 (i.e., Good diversification). The correlation of AnorTech 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.

AnorTech Correlation With Market

Very weak diversification

The correlation between AnorTech and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AnorTech and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with AnorTech Stock

0.7	TECK-B	Teck Resources Earnings Call Today	Pair Corr
0.62	IVN	Ivanhoe Mines	Pair Corr
0.63	NGEX	NGEx Minerals	Pair Corr
0.72	SKE	Skeena Resources	Pair Corr
0.76	FOM	Foran Mining	Pair Corr
0.77	ALS	Altius Minerals	Pair Corr
0.64	OMM	Omineca Mining	Pair Corr
0.73	BTE	Baytex Energy Corp	Pair Corr
0.67	BTO	B2Gold Corp	Pair Corr
0.63	SGR-U	Slate Grocery REIT	Pair Corr
0.77	PML	Panoro Minerals	Pair Corr
0.69	TUF	Honey Badger Silver	Pair Corr
0.63	MGG	Minaurum Silver	Pair Corr
0.84	FTT	Finning International	Pair Corr
0.79	MKO	Mako Mining Corp	Pair Corr
0.67	PSLV	Sprott Physical Silver	Pair Corr
0.66	PWF-PA	Power Financial Corp	Pair Corr
0.85	ETG	Entree Resources	Pair Corr
0.73	BBB	Brixton Metals Earnings Call This Week	Pair Corr
0.68	ACQ	Autocanada	Pair Corr
0.69	WPRT	Westport Fuel Systems	Pair Corr

Moving against AnorTech Stock

0.74	VRY	Petro Victory Energy	Pair Corr
0.58	DLC	DLC Holdings Corp	Pair Corr

Related Correlations Analysis

	BRO	TUK	ROX	STS	VZZ	GRG	MERG
BRO		-0.24	0.47	0.23	0.45	0.67	0.81	BRO
TUK	-0.24		-0.18	0.08	-0.38	-0.11	-0.33	TUK
ROX	0.47	-0.18		0.26	0.24	0.73	0.47	ROX
STS	0.23	0.08	0.26		-0.06	0.34	-0.11	STS
VZZ	0.45	-0.38	0.24	-0.06		0.36	0.67	VZZ
GRG	0.67	-0.11	0.73	0.34	0.36		0.58	GRG
MERG	0.81	-0.33	0.47	-0.11	0.67	0.58		MERG
	BRO	TUK	ROX	STS	VZZ	GRG	MERG

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

MERG	+ 0.81	BRO
GRG	+ 0.73	ROX
GRG	+ 0.67	BRO
MERG	+ 0.67	VZZ
MERG	+ 0.58	GRG
ROX	+ 0.47	BRO

High negative correlations

VZZ	- 0.38	TUK
MERG	- 0.33	TUK
TUK	- 0.24	BRO
ROX	- 0.18	TUK
MERG	- 0.11	STS
GRG	- 0.11	TUK

Risk-Adjusted Indicators

There is a big difference between AnorTech Stock performing well and AnorTech 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 AnorTech'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
BRO	5.45	1.42	0.20	(6.76)	3.91	(11.42)	14.29	(6.67)	45.83
TUK	2.87	(0.07)	0.00	(0.18)	0.00	0.00	0.00	(20.00)	58.33
ROX	5.78	1.16	0.08	(0.38)	5.69	(14.69)	16.67	(14.29)	30.95
STS	3.86	0.14	0.02	0.20	4.38	(9.99)	14.29	(7.14)	27.88
VZZ	4.08	0.52	0.05	(0.57)	4.54	(9.47)	11.11	(9.09)	27.08
GRG	4.87	0.25	0.01	(0.43)	5.96	(14.84)	16.67	(14.29)	36.67
MERG	5.42	1.42	0.19	11.16	5.49	(6.67)	15.63	(9.59)	38.22

Be your own money manager

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