Amarc Resources Correlations

AXREF Stock

USD 0.98 0.01 1.01%

The current 90-days correlation between Amarc Resources and Midnight Sun Mining is 0.15 (i.e., Average diversification). The correlation of Amarc 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.

Amarc Resources Correlation With Market

Modest diversification

The correlation between Amarc Resources and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amarc Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Amarc OTC Stock

0.64	BHP	BHP Group Limited	Pair Corr
0.67	GLCNF	Glencore PLC	Pair Corr
0.7	GLNCY	Glencore PLC ADR	Pair Corr

Moving against Amarc OTC Stock

0.47	HNHPF	Hon Hai Precision	Pair Corr
0.42	PG	Procter Gamble	Pair Corr
0.35	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	PTTMF	ARRNF	MDNGF	GPPRF	PNPNF	CNIKF	AAGFF	TSKFF	CTTZF	JMXXF
PTTMF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	PTTMF
ARRNF	0.0		0.03	0.03	0.54	-0.3	-0.27	0.4	0.04	-0.15	ARRNF
MDNGF	0.0	0.03		0.44	0.1	0.09	0.43	0.27	0.27	0.08	MDNGF
GPPRF	0.0	0.03	0.44		0.37	0.15	0.72	0.61	0.58	0.21	GPPRF
PNPNF	0.0	0.54	0.1	0.37		-0.39	0.05	0.58	0.53	0.01	PNPNF
CNIKF	0.0	-0.3	0.09	0.15	-0.39		0.32	-0.12	0.17	0.19	CNIKF
AAGFF	0.0	-0.27	0.43	0.72	0.05	0.32		0.5	0.66	0.32	AAGFF
TSKFF	0.0	0.4	0.27	0.61	0.58	-0.12	0.5		0.55	0.09	TSKFF
CTTZF	0.0	0.04	0.27	0.58	0.53	0.17	0.66	0.55		0.3	CTTZF
JMXXF	0.0	-0.15	0.08	0.21	0.01	0.19	0.32	0.09	0.3		JMXXF
	PTTMF	ARRNF	MDNGF	GPPRF	PNPNF	CNIKF	AAGFF	TSKFF	CTTZF	JMXXF

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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

AAGFF	+ 0.72	GPPRF
CTTZF	+ 0.66	AAGFF
TSKFF	+ 0.61	GPPRF
CTTZF	+ 0.58	GPPRF
TSKFF	+ 0.58	PNPNF
CTTZF	+ 0.55	TSKFF

High negative correlations

CNIKF	- 0.39	PNPNF
CNIKF	- 0.3	ARRNF
AAGFF	- 0.27	ARRNF
JMXXF	- 0.15	ARRNF
TSKFF	- 0.12	CNIKF
JMXXF	- 0.0	PTTMF

Risk-Adjusted Indicators

There is a big difference between Amarc OTC Stock performing well and Amarc 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 Amarc 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
PTTMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ARRNF	6.28	0.27	0.03	0.28	6.14	(11.86)	14.29	(12.07)	85.46
MDNGF	4.00	0.00	0.00	0.05	0.00	0.00	8.49	(9.90)	29.65
GPPRF	2.87	0.03	0.01	0.08	3.34	(3.90)	6.06	(5.88)	16.72
PNPNF	3.59	(0.16)	0.00	(0.04)	0.00	0.00	8.70	(8.08)	19.30
CNIKF	4.47	0.63	0.14	0.33	4.51	(5.86)	10.42	(7.55)	38.74
AAGFF	4.44	0.13	0.05	0.10	4.62	(5.36)	10.00	(8.47)	23.58
TSKFF	4.46	0.05	0.03	0.08	4.95	(4.80)	9.35	(7.48)	24.84
CTTZF	3.99	0.57	0.11	0.69	3.81	(5.70)	10.71	(6.45)	22.12
JMXXF	355.81	199.69	3.08	4.35	42.67	(441.04)	762.75	(94.29)	3,923

Be your own money manager

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