Altima Resources Correlations

ARSLF Stock

USD 0.30 0.05 14.29%

The current 90-days correlation between Altima Resources and Challenger Energy Group is -0.16 (i.e., Good 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

Good diversification

The correlation between Altima Resources and DJI is -0.16 (i.e., Good 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

0.65

WOLF

Wolfspeed,

Pair Corr

Moving against Altima Pink Sheet

0.79	IDN	Intellicheck Mobilisa	Pair Corr
0.78	AKAM	Akamai Technologies	Pair Corr
0.76	RLMD	Relmada Therapeutics	Pair Corr
0.73	REGN	Regeneron Pharmaceuticals	Pair Corr
0.67	GM	General Motors	Pair Corr
0.64	CX	Cemex SAB de Aggressive Push	Pair Corr
0.57	DDS	Dillards,	Pair Corr
0.53	68233JBP8	US68233JBP84	Pair Corr
0.46	TAK	Takeda Pharmaceutical	Pair Corr
0.44	CRRFY	Carrefour SA PK	Pair Corr
0.36	BLMC	Biloxi Marsh Lands	Pair Corr
0.85	DNLMY	Dunelm Group PLC	Pair Corr
0.8	APGE	Apogee Therapeutics,	Pair Corr
0.79	SHIP	Seanergy Maritime	Pair Corr
0.68	PHAR	Pharming Group NV	Pair Corr
0.67	CM	Canadian Imperial Bank	Pair Corr
0.65	KYOCF	Kyocera	Pair Corr
0.61	HL	Hecla Mining Aggressive Push	Pair Corr
0.6	BAC	Bank of America Aggressive Push	Pair Corr
0.6	CHACR	Crane Harbor Acquisition	Pair Corr
0.55	NOEM	CO2 Energy Transition	Pair Corr
0.52	EGP	EastGroup Properties	Pair Corr
0.44	GSVRF	Guanajuato Silver	Pair Corr
0.38	HE	Hawaiian Electric	Pair Corr
0.36	ZPTA	Zapata Computing Holdings Buyout Trend	Pair Corr
0.34	STAG	STAG Industrial	Pair Corr

Related Correlations Analysis

	BSHPF	PRTDF	GXUSF	ECAOF	DMEHF	SNEGF	CGXEF	BSNLF	JROOF	WLTNF
BSHPF		0.48	-0.08	0.01	0.01	0.37	0.09	0.19	-0.11	-0.36	BSHPF
PRTDF	0.48		-0.38	-0.39	0.27	0.33	0.26	0.24	0.16	-0.22	PRTDF
GXUSF	-0.08	-0.38		0.82	-0.59	0.34	-0.61	-0.15	-0.64	-0.54	GXUSF
ECAOF	0.01	-0.39	0.82		-0.67	0.36	-0.75	0.05	-0.73	-0.53	ECAOF
DMEHF	0.01	0.27	-0.59	-0.67		-0.55	0.82	-0.1	0.89	0.5	DMEHF
SNEGF	0.37	0.33	0.34	0.36	-0.55		-0.48	0.26	-0.63	-0.86	SNEGF
CGXEF	0.09	0.26	-0.61	-0.75	0.82	-0.48		-0.03	0.79	0.5	CGXEF
BSNLF	0.19	0.24	-0.15	0.05	-0.1	0.26	-0.03		-0.16	-0.24	BSNLF
JROOF	-0.11	0.16	-0.64	-0.73	0.89	-0.63	0.79	-0.16		0.57	JROOF
WLTNF	-0.36	-0.22	-0.54	-0.53	0.5	-0.86	0.5	-0.24	0.57		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

JROOF	+ 0.89	DMEHF
ECAOF	+ 0.82	GXUSF
CGXEF	+ 0.82	DMEHF
JROOF	+ 0.79	CGXEF
WLTNF	+ 0.57	JROOF
WLTNF	+ 0.5	DMEHF

High negative correlations

WLTNF	- 0.86	SNEGF
CGXEF	- 0.75	ECAOF
JROOF	- 0.73	ECAOF
DMEHF	- 0.67	ECAOF
JROOF	- 0.64	GXUSF
JROOF	- 0.63	SNEGF

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	2.53	0.20	0.02	0.46	3.53	(9.56)	13.33	(11.11)	32.65
PRTDF	6.64	0.81	0.00	1.68	0.00	0.00	25.00	(28.00)	116.67
GXUSF	1.37	0.62	0.00	0.70	0.00	0.00	0.00	0.00	33.33
ECAOF	6.07	2.18	0.19	(1.40)	3.86	(21.50)	25.00	(9.09)	70.99
DMEHF	4.98	0.26	0.00	(0.03)	6.54	(7.01)	11.11	(12.50)	32.47
SNEGF	7.33	3.22	0.00	1.04	0.00	0.00	0.00	0.00	170.64
CGXEF	3.84	(0.22)	0.00	(0.21)	0.00	0.00	10.78	(9.09)	22.50
BSNLF	56.74	25.63	0.46	(5.10)	21.06	(190.65)	85.19	(63.33)	843.63
JROOF	5.06	(0.22)	0.00	0.47	0.00	0.00	16.10	(9.09)	48.86
WLTNF	1.93	(0.97)	0.00	1.00	0.00	0.00	0.00	(13.33)	19.05

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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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