Evolution Mining Correlations

CAHPF Stock

USD 10.44 0.43 3.96%

The current 90-days correlation between Evolution Mining and Zhaojin Mining Industry is 0.02 (i.e., Significant diversification). The correlation of Evolution Mining 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.

Evolution Mining Correlation With Market

Poor diversification

The correlation between Evolution Mining and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Evolution Mining and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Evolution Pink Sheet

0.95	NEM	Newmont Goldcorp Corp	Pair Corr
0.9	AEM	Agnico Eagle Mines	Pair Corr
0.96	WPM	Wheaton Precious Metals	Pair Corr
0.93	AU	AngloGold Ashanti plc	Pair Corr
0.94	KGC	Kinross Gold	Pair Corr
0.89	ZIJMY	Zijin Mining Group	Pair Corr
0.88	ZIJMF	Zijin Mining Group	Pair Corr
0.94	GFI	Gold Fields	Pair Corr
0.94	GOLD	Gold Inc Earnings Call This Week	Pair Corr
0.74	WNC	Wabash National Earnings Call This Week	Pair Corr
0.76	BA	Boeing Sell-off Trend	Pair Corr
0.82	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.89	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.8	MRK	Merck Company Earnings Call This Week	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr

Moving against Evolution Pink Sheet

0.9	TRNR	Interactive Strength	Pair Corr
0.82	APVO	Aptevo Therapeutics	Pair Corr
0.33	VLCN	VLCN Old Symbol Change	Pair Corr
0.32	BRK-A	Berkshire Hathaway	Pair Corr
0.68	T	ATT Inc Earnings Call This Week	Pair Corr
0.48	MMM	3M Company	Pair Corr
0.34	IBM	International Business Tech Boost	Pair Corr

Related Correlations Analysis

	ZHAOF	LUGDF	TYNPF	HGMCF	JIAXF	NHYDY	CXMSF	NHYKF	AHCHF	NPSCY
ZHAOF		0.67	-0.64	0.68	-0.14	0.76	0.78	0.74	-0.43	0.15	ZHAOF
LUGDF	0.67		-0.58	0.62	0.21	0.79	0.85	0.77	-0.69	0.0	LUGDF
TYNPF	-0.64	-0.58		-0.44	-0.15	-0.46	-0.6	-0.47	0.52	0.15	TYNPF
HGMCF	0.68	0.62	-0.44		0.16	0.89	0.8	0.9	-0.37	0.47	HGMCF
JIAXF	-0.14	0.21	-0.15	0.16		0.12	0.22	0.1	-0.34	-0.19	JIAXF
NHYDY	0.76	0.79	-0.46	0.89	0.12		0.89	0.98	-0.5	0.47	NHYDY
CXMSF	0.78	0.85	-0.6	0.8	0.22	0.89		0.87	-0.67	0.24	CXMSF
NHYKF	0.74	0.77	-0.47	0.9	0.1	0.98	0.87		-0.48	0.47	NHYKF
AHCHF	-0.43	-0.69	0.52	-0.37	-0.34	-0.5	-0.67	-0.48		0.14	AHCHF
NPSCY	0.15	0.0	0.15	0.47	-0.19	0.47	0.24	0.47	0.14		NPSCY
	ZHAOF	LUGDF	TYNPF	HGMCF	JIAXF	NHYDY	CXMSF	NHYKF	AHCHF	NPSCY

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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

NHYKF	+ 0.98	NHYDY
NHYKF	+ 0.9	HGMCF
NHYDY	+ 0.89	HGMCF
CXMSF	+ 0.89	NHYDY
NHYKF	+ 0.87	CXMSF
CXMSF	+ 0.85	LUGDF

High negative correlations

AHCHF	- 0.69	LUGDF
AHCHF	- 0.67	CXMSF
TYNPF	- 0.64	ZHAOF
CXMSF	- 0.6	TYNPF
TYNPF	- 0.58	LUGDF
AHCHF	- 0.5	NHYDY

Risk-Adjusted Indicators

There is a big difference between Evolution Pink Sheet performing well and Evolution Mining 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 Evolution Mining'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
ZHAOF	1.57	0.63	0.00	5.32	0.00	0.00	0.00	0.00	53.48
LUGDF	2.31	0.39	0.13	1.15	2.66	(2.59)	5.75	(4.43)	15.84
TYNPF	2.85	(0.14)	0.00	(0.04)	0.00	0.00	5.24	(6.82)	19.68
HGMCF	1.47	0.47	0.11	0.60	1.05	(5.86)	5.14	(1.56)	20.37
JIAXF	0.88	0.21	0.00	(0.28)	0.00	0.00	0.00	0.00	34.79
NHYDY	1.23	0.39	0.30	0.46	0.86	(1.48)	2.83	(1.93)	4.92
CXMSF	1.86	0.50	0.08	(0.64)	1.66	(6.06)	6.40	(4.21)	27.47
NHYKF	1.70	0.41	0.15	3.30	2.06	(1.82)	3.47	(3.69)	8.79
AHCHF	0.24	(0.04)	0.00	(0.10)	0.00	0.00	0.00	0.00	13.81
NPSCY	0.93	0.01	(0.01)	0.08	1.16	(1.04)	2.26	(1.99)	5.02

Be your own money manager

Our tools can tell you how much better you can do entering a position in Evolution Mining 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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Evolution Mining Corporate Management

MNLP CAHRI	VP Culture	Profile
BBus CPA	CFO Director	Profile
ACA ACA	Ex Chairman	Profile
Fiona Murfitt	VP Sustainability	Profile
B MAIG	VP Discovery	Profile
Andrew Millar	Gen Operation	Profile
Robert BEng	Chief Officer	Profile

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