Durango Resources Correlations

ATOXF Stock

USD 0.10 0.01 5.26%

The current 90-days correlation between Durango Resources and Golden Arrow Resources is -0.16 (i.e., Good diversification). The correlation of Durango 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.

Durango Resources Correlation With Market

Very weak diversification

The correlation between Durango Resources and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Durango Resources and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Durango 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 Durango 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 Durango 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 Durango Resources to buy it.

Moving together with Durango OTC Stock

0.68	BHPLF	BHP Group Limited Earnings Call This Week	Pair Corr
0.69	RIO	Rio Tinto ADR Earnings Call This Week	Pair Corr
0.69	BHP	BHP Group Limited Earnings Call This Week	Pair Corr
0.66	RTPPF	Rio Tinto Group Earnings Call This Week	Pair Corr
0.71	GLCNF	Glencore PLC Earnings Call This Week	Pair Corr
0.71	GLNCY	Glencore PLC ADR Earnings Call This Week	Pair Corr
0.73	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.64	HD	Home Depot Sell-off Trend	Pair Corr
0.69	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.61	PFE	Pfizer Inc Aggressive Push	Pair Corr

Moving against Durango OTC Stock

0.66	HPQ	HP Inc	Pair Corr
0.46	MSFT	Microsoft	Pair Corr
0.45	MMM	3M Company	Pair Corr
0.32	AXP	American Express	Pair Corr
0.31	IBM	International Business	Pair Corr

Related Correlations Analysis

	CCOOF	BRKCF	GARWF	ARXRF	ORESF	HRFEF	NLPXF	YORKF	MLYCF	TORVF
CCOOF		0.77	0.67	0.5	0.24	-0.19	0.63	0.55	0.1	-0.58	CCOOF
BRKCF	0.77		0.73	0.56	0.5	-0.22	0.68	0.61	-0.1	-0.66	BRKCF
GARWF	0.67	0.73		0.45	0.49	-0.27	0.69	0.74	-0.12	-0.53	GARWF
ARXRF	0.5	0.56	0.45		0.07	-0.02	0.64	0.33	-0.21	-0.15	ARXRF
ORESF	0.24	0.5	0.49	0.07		-0.22	0.14	0.48	-0.07	-0.48	ORESF
HRFEF	-0.19	-0.22	-0.27	-0.02	-0.22		-0.23	-0.36	-0.23	0.33	HRFEF
NLPXF	0.63	0.68	0.69	0.64	0.14	-0.23		0.69	-0.13	-0.43	NLPXF
YORKF	0.55	0.61	0.74	0.33	0.48	-0.36	0.69		0.02	-0.52	YORKF
MLYCF	0.1	-0.1	-0.12	-0.21	-0.07	-0.23	-0.13	0.02		0.02	MLYCF
TORVF	-0.58	-0.66	-0.53	-0.15	-0.48	0.33	-0.43	-0.52	0.02		TORVF
	CCOOF	BRKCF	GARWF	ARXRF	ORESF	HRFEF	NLPXF	YORKF	MLYCF	TORVF

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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

BRKCF	+ 0.77	CCOOF
YORKF	+ 0.74	GARWF
GARWF	+ 0.73	BRKCF
NLPXF	+ 0.69	GARWF
YORKF	+ 0.69	NLPXF
NLPXF	+ 0.68	BRKCF

High negative correlations

TORVF	- 0.66	BRKCF
TORVF	- 0.58	CCOOF
TORVF	- 0.53	GARWF
TORVF	- 0.52	YORKF
TORVF	- 0.48	ORESF
TORVF	- 0.43	NLPXF

Risk-Adjusted Indicators

There is a big difference between Durango OTC Stock performing well and Durango Resources 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 Durango 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
CCOOF	3.53	0.19	0.02	3.19	4.10	(4.69)	7.69	(8.93)	28.42
BRKCF	4.81	1.60	0.25	(1.86)	3.99	(7.19)	10.96	(8.33)	48.33
GARWF	6.46	0.49	0.05	0.17	7.39	(13.36)	25.00	(20.00)	45.00
ARXRF	6.26	0.70	0.06	(0.60)	7.10	(7.76)	16.82	(10.83)	47.09
ORESF	6.06	0.89	0.06	(4.99)	6.96	(14.21)	20.00	(15.62)	60.61
HRFEF	16.80	5.13	0.14	0.77	13.68	(55.16)	13.42	(21.26)	341.28
NLPXF	7.96	1.99	0.17	5.05	9.08	(10.22)	26.10	(10.00)	62.65
YORKF	11.80	1.59	0.08	(0.85)	12.12	(16.99)	29.36	(24.31)	95.92
MLYCF	23.51	8.24	0.00	(2.92)	0.00	0.00	0.00	(50.00)	450.00
TORVF	8.78	0.17	0.01	0.29	10.22	(11.82)	24.78	(16.47)	73.73

Be your own money manager

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