Birchtech Corp Correlations

Stocks . Canada . 
Stock . Birchtech Corp
BCHT Stock   3.69  0.15  3.91%   
The current 90-days correlation between Birchtech Corp and Lion One Metals is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Birchtech Corp moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Birchtech Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Birchtech Corp Correlation With Market

Excellent diversification

The correlation between Birchtech Corp and DJI is -0.6 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Birchtech Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Birchtech Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Birchtech Corp 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 Birchtech Corp - 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 Birchtech Corp to buy it.

Moving together with Birchtech Stock

  0.67ROOT Roots CorpPairCorr

Moving against Birchtech Stock

  0.75BOS AirBoss of AmericaPairCorr
  0.75CNQ Canadian Natural ResPairCorr
  0.7SGR-U Slate Grocery REITPairCorr
  0.66PPL-PA Pembina Pipeline Corp Earnings Call This WeekPairCorr
  0.66NA-PG National Bank Earnings Call TomorrowPairCorr
  0.52MRT-UN Morguard Real EstatePairCorr
  0.38CU-PJ Canadian UtilitiesPairCorr
  0.84CU Canadian Utilities Earnings Call This WeekPairCorr
  0.71CGNT Copper Giant ResourcesPairCorr
  0.7LUN Lundin MiningPairCorr
  0.69AIM Aimia IncPairCorr
  0.68PPL Pembina Pipeline Corp Earnings Call This WeekPairCorr
  0.61PGDC Patagonia Gold CorpPairCorr
  0.59VCI Vitreous GlassPairCorr
  0.57LB-PH Laurentian Bank Earnings Call This WeekPairCorr
  0.57LCS Brompton Lifeco Split SplitPairCorr
  0.56MN Manganese X Energy Earnings Call This WeekPairCorr
  0.54ALS Altius MineralsPairCorr
  0.52AZS Arizona Gold SilverPairCorr
  0.47GMG Graphene Manufacturing Earnings Call This WeekPairCorr
  0.34BKI Black Iron Earnings Call This WeekPairCorr
  0.73FOM Foran MiningPairCorr
  0.72IPO InPlay Oil CorpPairCorr
  0.72MRD Melcor DevelopmentsPairCorr
  0.71NAR North Arrow MineralsPairCorr
  0.68FTS Fortis IncPairCorr
  0.65SAO South Atlantic GoldPairCorr
  0.65CFX Canfor Pulp ProductsPairCorr
  0.57ENB-PFC Enbridge Pref 11PairCorr

Related Correlations Analysis


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

MKO
+ 0.89
LIO
MKO
+ 0.85
NIM
LIO
+ 0.82
NIM
IDEX
+ 0.13
MAP
  

High negative correlations

NIM
- 0.7
MAP
LIO
- 0.65
MAP
MKO
- 0.61
MAP
IDEX
- 0.38
LIO
IDEX
- 0.29
MKO
IDEX
- 0.26
NIM

Risk-Adjusted Indicators

There is a big difference between Birchtech Stock performing well and Birchtech Corp 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 Birchtech Corp'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Birchtech Corp 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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Birchtech Corp Corporate Executives

Elected by the shareholders, the Birchtech Corp's board of directors comprises two types of representatives: Birchtech Corp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Birchtech. The board's role is to monitor Birchtech Corp's management team and ensure that shareholders' interests are well served. Birchtech Corp's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Birchtech Corp's outside directors are responsible for providing unbiased perspectives on the board's policies.
John PavlishSenior CTOProfile
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