Altima Resources Correlations

ARSLF Stock

USD 0.23 0.01 4.55%

The current 90-days correlation between Altima Resources and Wilton Resources is 0.09 (i.e., Significant diversification). The correlation of Altima Resources 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.

Altima Resources Correlation With Market

Excellent diversification

The correlation between Altima Resources and DJI is -0.6 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Altima Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Altima Pink Sheet

0.81

MSFT

Microsoft

Pair Corr

Moving against Altima Pink Sheet

0.9	MRK	Merck Company Earnings Call This Week	Pair Corr
0.85	DD	Dupont De Nemours	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.75	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.71	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.53	CVX	Chevron Corp	Pair Corr
0.47	KO	Coca Cola Aggressive Push	Pair Corr
0.42	INTC	Intel Aggressive Push	Pair Corr
0.36	MCD	McDonalds Sell-off Trend	Pair Corr

Related Correlations Analysis

	BSHPF	PRTDF	GXUSF	ECAOF	DMEHF	SNEGF	CGXEF	BSNLF	JROOF	WLTNF
BSHPF		-0.34	0.26	0.27	-0.67	0.35	-0.56	0.26	-0.69	-0.27	BSHPF
PRTDF	-0.34		-0.68	-0.66	0.49	-0.48	0.17	0.19	0.61	-0.01	PRTDF
GXUSF	0.26	-0.68		0.92	-0.6	0.54	-0.13	-0.26	-0.76	0.16	GXUSF
ECAOF	0.27	-0.66	0.92		-0.56	0.64	-0.05	-0.21	-0.72	0.24	ECAOF
DMEHF	-0.67	0.49	-0.6	-0.56		-0.38	0.64	0.12	0.85	0.27	DMEHF
SNEGF	0.35	-0.48	0.54	0.64	-0.38		-0.01	-0.15	-0.54	0.29	SNEGF
CGXEF	-0.56	0.17	-0.13	-0.05	0.64	-0.01		0.08	0.53	0.55	CGXEF
BSNLF	0.26	0.19	-0.26	-0.21	0.12	-0.15	0.08		0.09	-0.01	BSNLF
JROOF	-0.69	0.61	-0.76	-0.72	0.85	-0.54	0.53	0.09		0.2	JROOF
WLTNF	-0.27	-0.01	0.16	0.24	0.27	0.29	0.55	-0.01	0.2		WLTNF
	BSHPF	PRTDF	GXUSF	ECAOF	DMEHF	SNEGF	CGXEF	BSNLF	JROOF	WLTNF

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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

ECAOF	+ 0.92	GXUSF
JROOF	+ 0.85	DMEHF
SNEGF	+ 0.64	ECAOF
CGXEF	+ 0.64	DMEHF
JROOF	+ 0.61	PRTDF
WLTNF	+ 0.55	CGXEF

High negative correlations

JROOF	- 0.76	GXUSF
JROOF	- 0.72	ECAOF
JROOF	- 0.69	BSHPF
GXUSF	- 0.68	PRTDF
DMEHF	- 0.67	BSHPF
ECAOF	- 0.66	PRTDF

Risk-Adjusted Indicators

There is a big difference between Altima Pink Sheet performing well and Altima Resources 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 Altima Resources' 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
BSHPF	2.70	0.49	0.04	(0.50)	3.29	(10.35)	13.33	(6.25)	32.65
PRTDF	15.42	4.21	0.10	1.39	13.28	(106.09)	55.00	(28.00)	156.55
GXUSF	1.35	0.64	0.00	0.49	0.00	0.00	0.00	0.00	33.33
ECAOF	7.16	3.05	0.31	(1.61)	4.53	(13.67)	25.00	(10.34)	70.99
DMEHF	5.70	(0.40)	0.00	3.49	0.00	0.00	11.11	(12.50)	55.98
SNEGF	4.52	1.88	0.00	0.52	0.00	0.00	0.00	0.00	97.59
CGXEF	4.18	0.34	0.03	(0.25)	4.60	(8.92)	10.78	(9.09)	22.11
BSNLF	74.07	32.40	0.54	1.35	26.89	(199.61)	343.55	(71.54)	843.63
JROOF	4.73	(0.59)	0.00	(0.22)	0.00	0.00	10.67	(10.45)	31.23
WLTNF	2.48	0.61	0.00	0.46	0.00	0.00	0.00	0.00	85.58

Be your own money manager

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