Bitterroot Resources Correlations

BITTF Stock

USD 0.07 0 4.71%

The current 90-days correlation between Bitterroot Resources and Decade Resources is -0.15 (i.e., Good diversification). The correlation of Bitterroot 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.

Bitterroot Resources Correlation With Market

Very weak diversification

The correlation between Bitterroot Resources and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitterroot Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Bitterroot Pink Sheet

0.64	RIO	Rio Tinto ADR	Pair Corr
0.65	RTPPF	Rio Tinto Group	Pair Corr
0.75	GLCNF	Glencore PLC	Pair Corr
0.75	GLNCY	Glencore PLC ADR	Pair Corr
0.67	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.74	CGON	CG Oncology Common	Pair Corr
0.67	CAPL	Crossamerica Partners	Pair Corr
0.66	ALL-PB	Allstate	Pair Corr
0.75	ESCA	Escalade Incorporated	Pair Corr
0.66	ALEEF	Alerio Gold Corp	Pair Corr
0.68	CMI	Cummins	Pair Corr
0.75	MBINN	Merchants Bancorp	Pair Corr
0.83	UAMY	United States Antimony Buyout Trend	Pair Corr
0.62	CMTV	Community Bancorp Common	Pair Corr

Moving against Bitterroot Pink Sheet

0.53

TTCM

Tautachrome

Pair Corr

Related Correlations Analysis

	DECXF	BGAVF	PEMSF	TMASF	CCWOF	CBEEF	TMRFF	MGXMF	ZUUZF	AVPMF
DECXF		0.85	-0.02	0.69	-0.35	0.0	-0.27	0.0	0.63	0.71	DECXF
BGAVF	0.85		0.06	0.77	-0.28	0.0	-0.21	0.0	0.58	0.72	BGAVF
PEMSF	-0.02	0.06		0.35	0.58	0.0	0.55	0.0	0.1	0.3	PEMSF
TMASF	0.69	0.77	0.35		0.05	0.0	0.09	0.0	0.61	0.79	TMASF
CCWOF	-0.35	-0.28	0.58	0.05		0.0	0.59	0.0	-0.25	0.02	CCWOF
CBEEF	0.0	0.0	0.0	0.0	0.0		0.0	1.0	0.0	0.0	CBEEF
TMRFF	-0.27	-0.21	0.55	0.09	0.59	0.0		0.0	0.11	0.28	TMRFF
MGXMF	0.0	0.0	0.0	0.0	0.0	1.0	0.0		0.0	0.0	MGXMF
ZUUZF	0.63	0.58	0.1	0.61	-0.25	0.0	0.11	0.0		0.61	ZUUZF
AVPMF	0.71	0.72	0.3	0.79	0.02	0.0	0.28	0.0	0.61		AVPMF
	DECXF	BGAVF	PEMSF	TMASF	CCWOF	CBEEF	TMRFF	MGXMF	ZUUZF	AVPMF

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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

MGXMF	+ 1.0	CBEEF
BGAVF	+ 0.85	DECXF
AVPMF	+ 0.79	TMASF
TMASF	+ 0.77	BGAVF
AVPMF	+ 0.72	BGAVF
AVPMF	+ 0.71	DECXF

High negative correlations

CCWOF	- 0.35	DECXF
CCWOF	- 0.28	BGAVF
TMRFF	- 0.27	DECXF
ZUUZF	- 0.25	CCWOF
TMRFF	- 0.21	BGAVF
PEMSF	- 0.02	DECXF

Risk-Adjusted Indicators

There is a big difference between Bitterroot Pink Sheet performing well and Bitterroot Resources 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 Bitterroot 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
DECXF	13.29	3.39	0.19	3.87	12.42	(20.28)	33.33	(24.75)	106.67
BGAVF	8.17	1.93	0.22	1.41	7.90	(9.50)	21.63	(14.35)	43.95
PEMSF	8.73	2.23	0.18	(0.55)	7.40	(13.35)	15.75	(13.69)	138.60
TMASF	3.68	0.10	0.02	0.15	4.59	(9.65)	11.76	(11.76)	37.22
CCWOF	5.23	0.20	0.02	0.31	5.85	(7.21)	12.50	(11.76)	30.95
CBEEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TMRFF	7.50	0.56	0.00	0.58	0.00	0.00	26.00	0.00	170.48
MGXMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ZUUZF	9.48	1.50	0.07	(1.23)	10.11	(18.71)	33.04	(21.00)	76.79
AVPMF	11.33	3.31	0.08	(5.03)	10.97	(49.82)	69.57	(28.57)	144.00

Be your own money manager

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