Huntsman Exploration Correlations

BBBMF Stock

USD 0.19 0.01 5.56%

The current 90-days correlation between Huntsman Exploration and Melkior Resources is 0.16 (i.e., Average diversification). The correlation of Huntsman Exploration 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.

Huntsman Exploration Correlation With Market

Poor diversification

The correlation between Huntsman Exploration and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huntsman Exploration and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Huntsman Pink Sheet

0.72	BHPLF	BHP Group Limited Earnings Call This Week	Pair Corr
0.77	RIO	Rio Tinto ADR	Pair Corr
0.75	BHP	BHP Group Limited Earnings Call This Week	Pair Corr
0.79	RTNTF	Rio Tinto Group	Pair Corr
0.79	RTPPF	Rio Tinto Group	Pair Corr
0.72	GLCNF	Glencore PLC Earnings Call This Week	Pair Corr
0.72	GLNCY	Glencore PLC ADR Earnings Call This Week	Pair Corr
0.71	VALE	Vale SA ADR Earnings Call Tomorrow	Pair Corr
0.8	SLF	Sun Life Financial Earnings Call Today	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.67	WMT	Walmart Common Stock	Pair Corr
0.73	MRK	Merck Company	Pair Corr

Moving against Huntsman Pink Sheet

0.64	HPQ	HP Inc Aggressive Push	Pair Corr
0.48	SIGL	Signal Advance	Pair Corr
0.48	MMM	3M Company	Pair Corr
0.48	MSFT	Microsoft Sell-off Trend	Pair Corr
0.39	HNRC	Houston Natural Resources	Pair Corr

Related Correlations Analysis

	MKRIF	OWRDF	ABEPF	RKMSF	MACQF	GZDIF	FNICF	CVVRF	SWNLF	NLRCF
MKRIF		-0.25	0.29	0.65	-0.02	0.32	0.6	0.56	0.62	-0.39	MKRIF
OWRDF	-0.25		-0.23	-0.37	-0.02	-0.19	-0.49	-0.55	-0.45	0.2	OWRDF
ABEPF	0.29	-0.23		0.58	-0.05	0.2	0.45	0.37	0.41	-0.19	ABEPF
RKMSF	0.65	-0.37	0.58		0.09	0.31	0.72	0.72	0.77	-0.26	RKMSF
MACQF	-0.02	-0.02	-0.05	0.09		-0.05	-0.03	0.0	-0.04	0.1	MACQF
GZDIF	0.32	-0.19	0.2	0.31	-0.05		0.32	0.26	0.32	-0.32	GZDIF
FNICF	0.6	-0.49	0.45	0.72	-0.03	0.32		0.88	0.87	-0.26	FNICF
CVVRF	0.56	-0.55	0.37	0.72	0.0	0.26	0.88		0.87	-0.09	CVVRF
SWNLF	0.62	-0.45	0.41	0.77	-0.04	0.32	0.87	0.87		-0.42	SWNLF
NLRCF	-0.39	0.2	-0.19	-0.26	0.1	-0.32	-0.26	-0.09	-0.42		NLRCF
	MKRIF	OWRDF	ABEPF	RKMSF	MACQF	GZDIF	FNICF	CVVRF	SWNLF	NLRCF

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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

CVVRF	+ 0.88	FNICF
SWNLF	+ 0.87	FNICF
SWNLF	+ 0.87	CVVRF
SWNLF	+ 0.77	RKMSF
FNICF	+ 0.72	RKMSF
CVVRF	+ 0.72	RKMSF

High negative correlations

CVVRF	- 0.55	OWRDF
FNICF	- 0.49	OWRDF
SWNLF	- 0.45	OWRDF
NLRCF	- 0.42	SWNLF
NLRCF	- 0.39	MKRIF
RKMSF	- 0.37	OWRDF

Risk-Adjusted Indicators

There is a big difference between Huntsman Pink Sheet performing well and Huntsman Exploration 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 Huntsman Exploration'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
MKRIF	8.92	2.12	0.09	(10.54)	10.98	(23.14)	25.00	(16.00)	174.17
OWRDF	6.87	0.66	0.04	0.29	8.45	(26.10)	35.00	(19.47)	84.43
ABEPF	9.73	0.97	0.08	1.44	10.59	(12.91)	27.27	(20.78)	74.80
RKMSF	9.79	2.51	0.10	(1.58)	10.45	(20.35)	29.17	(23.08)	148.33
MACQF	1.91	0.25	0.00	0.50	0.00	0.00	0.00	0.00	92.21
GZDIF	5.49	0.60	0.03	0.30	8.09	(26.73)	15.00	(21.30)	83.33
FNICF	6.77	1.17	0.12	1.82	6.84	(10.17)	20.99	(14.53)	42.73
CVVRF	186.03	86.59	0.00	0.99	0.00	0.00	0.00	0.00	6,239
SWNLF	4.99	1.87	0.00	0.72	0.00	0.00	18.75	(4.35)	77.14
NLRCF	3.74	0.34	0.01	(0.27)	5.97	(9.75)	11.72	(15.05)	59.01

Be your own money manager

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