Aura Energy Correlations

AUEEF Stock

USD 0.11 0.05 77.42%

The current 90-days correlation between Aura Energy Limited and Isoenergy is 0.07 (i.e., Significant diversification). The correlation of Aura Energy 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.

Aura Energy Correlation With Market

Average diversification

The correlation between Aura Energy Limited and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Aura Energy Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Aura Pink Sheet

0.65

PALAF

Paladin Energy

Pair Corr

Moving against Aura Pink Sheet

0.49	AMIX	Autonomix Medical, Common	Pair Corr
0.46	CRNT	Ceragon Networks Trending	Pair Corr
0.39	OMF	OneMain Holdings	Pair Corr

Related Correlations Analysis

	ISENF	PALAF	FUUFF	EU	PTUUF	URG	UEC	LEU	NXE
ISENF		0.71	0.48	0.82	0.35	0.69	0.63	0.53	0.63	ISENF
PALAF	0.71		0.73	0.68	0.02	0.13	0.17	0.15	0.12	PALAF
FUUFF	0.48	0.73		0.43	-0.15	-0.05	-0.17	-0.2	-0.17	FUUFF
EU	0.82	0.68	0.43		0.16	0.59	0.62	0.48	0.58	EU
PTUUF	0.35	0.02	-0.15	0.16		0.58	0.59	0.73	0.5	PTUUF
URG	0.69	0.13	-0.05	0.59	0.58		0.83	0.77	0.83	URG
UEC	0.63	0.17	-0.17	0.62	0.59	0.83		0.9	0.97	UEC
LEU	0.53	0.15	-0.2	0.48	0.73	0.77	0.9		0.83	LEU
NXE	0.63	0.12	-0.17	0.58	0.5	0.83	0.97	0.83		NXE
	ISENF	PALAF	FUUFF	EU	PTUUF	URG	UEC	LEU	NXE

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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

NXE	+ 0.97	UEC
LEU	+ 0.9	UEC
UEC	+ 0.83	URG
NXE	+ 0.83	URG
NXE	+ 0.83	LEU
EU	+ 0.82	ISENF

High negative correlations

LEU	- 0.2	FUUFF
NXE	- 0.17	FUUFF
UEC	- 0.17	FUUFF
PTUUF	- 0.15	FUUFF
URG	- 0.05	FUUFF

Risk-Adjusted Indicators

There is a big difference between Aura Pink Sheet performing well and Aura Energy 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 Aura Energy'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
ISENF	3.19	0.23	0.04	0.99	3.24	(3.90)	7.78	(4.25)	19.36
PALAF	3.75	(0.30)	0.00	(1.19)	0.00	0.00	7.60	(8.58)	37.77
FUUFF	3.76	0.00	0.00	0.12	0.00	0.00	9.09	(9.09)	21.11
EU	3.03	0.08	0.06	0.16	3.26	(3.67)	6.31	(4.62)	23.30
PTUUF	5.32	0.33	0.01	(0.30)	5.75	(8.60)	11.76	(11.11)	26.97
URG	2.45	0.48	0.09	(0.46)	2.46	(3.08)	6.40	(4.32)	19.23
UEC	3.46	0.69	0.22	0.42	3.09	(4.28)	11.59	(5.35)	22.80
LEU	5.57	1.04	0.18	0.35	6.47	(6.25)	11.79	(10.83)	55.03
NXE	2.39	0.52	0.20	0.49	2.20	(2.87)	6.94	(4.56)	19.63

Be your own money manager

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