Beyond Minerals Correlations

BYDMF Stock

USD 0.04 0.01 13.37%

The current 90-days correlation between Beyond Minerals and Quantum Battery Metals is -0.19 (i.e., Good diversification). The correlation of Beyond Minerals 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.

Beyond Minerals Correlation With Market

Poor diversification

The correlation between Beyond Minerals and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Beyond Minerals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Beyond Pink Sheet

0.7	BHPLF	BHP Group Limited	Pair Corr
0.77	RIO	Rio Tinto ADR	Pair Corr
0.72	BHP	BHP Group Limited	Pair Corr
0.66	RTNTF	Rio Tinto Group	Pair Corr
0.76	RTPPF	Rio Tinto Group	Pair Corr
0.85	GLCNF	Glencore PLC	Pair Corr
0.85	GLNCY	Glencore PLC ADR	Pair Corr
0.81	VALE	Vale SA ADR Downward Rally	Pair Corr
0.69	COHG	Cheetah Oil Gas	Pair Corr
0.86	BFDE	Bedford Energy	Pair Corr
0.75	INTC	Intel Aggressive Push	Pair Corr
0.83	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.8	CVX	Chevron Corp	Pair Corr
0.64	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.8	BA	Boeing Sell-off Trend	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr

Moving against Beyond Pink Sheet

0.52	FSTF	First State Financial	Pair Corr
0.42	ERHE	ERHC Energy	Pair Corr
0.75	HPQ	HP Inc	Pair Corr
0.49	T	ATT Inc Earnings Call This Week	Pair Corr
0.33	IBM	International Business Tech Boost	Pair Corr

Related Correlations Analysis

	BRVVF	CAXPF	SLTFF	HECOF	PPZRF	MLGCF	LXENF	SRCH	BMVVF	MLLOF
BRVVF		-0.34	0.22	0.42	0.0	0.31	0.05	0.33	0.76	-0.27	BRVVF
CAXPF	-0.34		0.35	-0.05	0.0	-0.85	-0.08	-0.54	0.07	0.22	CAXPF
SLTFF	0.22	0.35		0.1	0.0	-0.32	-0.02	-0.2	0.32	0.22	SLTFF
HECOF	0.42	-0.05	0.1		0.0	0.06	0.39	0.15	0.29	-0.23	HECOF
PPZRF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	PPZRF
MLGCF	0.31	-0.85	-0.32	0.06	0.0		0.06	0.44	-0.08	-0.24	MLGCF
LXENF	0.05	-0.08	-0.02	0.39	0.0	0.06		-0.15	0.04	-0.25	LXENF
SRCH	0.33	-0.54	-0.2	0.15	0.0	0.44	-0.15		-0.01	-0.32	SRCH
BMVVF	0.76	0.07	0.32	0.29	0.0	-0.08	0.04	-0.01		-0.01	BMVVF
MLLOF	-0.27	0.22	0.22	-0.23	0.0	-0.24	-0.25	-0.32	-0.01		MLLOF
	BRVVF	CAXPF	SLTFF	HECOF	PPZRF	MLGCF	LXENF	SRCH	BMVVF	MLLOF

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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

BMVVF	+ 0.76	BRVVF
SRCH	+ 0.44	MLGCF
HECOF	+ 0.42	BRVVF
LXENF	+ 0.39	HECOF
SLTFF	+ 0.35	CAXPF
SRCH	+ 0.33	BRVVF

High negative correlations

MLGCF	- 0.85	CAXPF
SRCH	- 0.54	CAXPF
CAXPF	- 0.34	BRVVF
MLLOF	- 0.32	SRCH
MLGCF	- 0.32	SLTFF
MLLOF	- 0.27	BRVVF

Risk-Adjusted Indicators

There is a big difference between Beyond Pink Sheet performing well and Beyond Minerals 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 Beyond Minerals' 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
BRVVF	0.37	0.19	0.00	(0.88)	0.00	0.00	0.00	0.00	12.50
CAXPF	5.82	(0.11)	0.00	(0.07)	0.00	0.00	14.50	(17.92)	37.69
SLTFF	3.11	0.43	0.00	(0.24)	0.00	0.00	7.32	(6.10)	103.79
HECOF	7.17	0.65	0.07	0.37	8.28	(8.60)	15.89	(14.37)	76.84
PPZRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MLGCF	0.56	0.26	0.00	0.65	0.00	0.00	0.00	0.00	18.75
LXENF	1.80	0.11	0.00	0.18	0.00	0.00	0.00	0.00	36.67
SRCH	7.52	1.31	0.07	(0.91)	8.11	(20.37)	18.00	(18.03)	129.51
BMVVF	5.19	1.06	0.00	1.22	0.00	0.00	0.00	(11.33)	125.62
MLLOF	16.72	2.51	0.11	(0.33)	14.05	(36.71)	57.14	(26.36)	121.55

Be your own money manager

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