Beyond Minerals Correlations

BYDMF Stock

USD 0.03 0.0004 1.42%

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

Good diversification

The correlation between Beyond Minerals and DJI is -0.02 (i.e., Good 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 against Beyond Pink Sheet

0.52	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.48	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.48	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.42	WMT	Walmart Aggressive Push	Pair Corr
0.4	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.38	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.37	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.37	HPQ	HP Inc	Pair Corr
0.35	VZ	Verizon Communications Sell-off Trend	Pair Corr

Related Correlations Analysis

	LINRF	T	MRK	DIS	CAT	PG	JPM
LINRF		0.33	-0.56	0.27	0.6	-0.52	0.37	LINRF
T	0.33		-0.79	0.81	0.65	0.03	0.64	T
MRK	-0.56	-0.79		-0.77	-0.64	0.35	-0.83	MRK
DIS	0.27	0.81	-0.77		0.58	0.2	0.86	DIS
CAT	0.6	0.65	-0.64	0.58		-0.31	0.52	CAT
PG	-0.52	0.03	0.35	0.2	-0.31		-0.03	PG
JPM	0.37	0.64	-0.83	0.86	0.52	-0.03		JPM
	LINRF	T	MRK	DIS	CAT	PG	JPM

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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

JPM	+ 0.86	DIS
DIS	+ 0.81	T
CAT	+ 0.65	T
JPM	+ 0.64	T
CAT	+ 0.6	LINRF
CAT	+ 0.58	DIS

High negative correlations

JPM	- 0.83	MRK
MRK	- 0.79	T
DIS	- 0.77	MRK
CAT	- 0.64	MRK
MRK	- 0.56	LINRF
PG	- 0.52	LINRF

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
LINRF	3.52	0.11	(0.01)	(0.09)	4.66	(5.10)	11.11	(7.55)	26.28
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
DIS	0.97	0.34	0.28	0.73	0.48	(1.12)	2.34	(1.34)	7.57
CAT	1.32	0.01	0.07	0.13	1.35	(1.37)	3.36	(2.13)	12.38
PG	0.72	0.10	(0.04)	(1.05)	0.77	(0.77)	1.74	(1.26)	4.66
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87

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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