Conifex Timber Correlations

The current 90-days correlation between Conifex Timber and Mountain Province Diamonds is -0.09 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Conifex Timber moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Conifex Timber moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Conifex Timber Correlation With Market

Very good diversification

The correlation between Conifex Timber and DJI is -0.42 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Conifex Timber and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Conifex Stock

0.74	CITI	CITIGROUP CDR	Pair Corr
0.73	BOFA	Bank of America	Pair Corr
0.57	JPM	JPMorgan Chase	Pair Corr
0.57	HSTR	Heliostar Metals	Pair Corr
0.56	AUUA	Aluula Composites Earnings Call This Week	Pair Corr
0.46	GPCC-P	Green Panda Capital	Pair Corr
0.43	LIRC	Lithium Royalty Corp	Pair Corr
0.41	FDY	Faraday Copper Corp	Pair Corr
0.4	GOOG	Alphabet CDR	Pair Corr
0.4	CYBN	Cybin Inc	Pair Corr
0.4	INO-UN	Inovalis Real Estate	Pair Corr
0.37	IE	Ivanhoe Energy	Pair Corr
0.35	DNG	Dynacor Gold Mines	Pair Corr
0.34	BCE-PT	Bce Inc Pref	Pair Corr
0.32	GOOG	Alphabet CDR	Pair Corr
0.31	AG	First Majestic Silver	Pair Corr

Related Correlations Analysis

	MPVD	PEX	PA	NTH	ILC	CPAU	LOT	ICM
MPVD		0.4	0.6	0.11	-0.11	0.62	0.55	0.54	MPVD
PEX	0.4		0.5	0.5	-0.56	0.7	0.6	0.76	PEX
PA	0.6	0.5		-0.04	-0.31	0.83	0.89	0.7	PA
NTH	0.11	0.5	-0.04		-0.45	0.18	0.09	0.54	NTH
ILC	-0.11	-0.56	-0.31	-0.45		-0.38	-0.44	-0.65	ILC
CPAU	0.62	0.7	0.83	0.18	-0.38		0.86	0.79	CPAU
LOT	0.55	0.6	0.89	0.09	-0.44	0.86		0.81	LOT
ICM	0.54	0.76	0.7	0.54	-0.65	0.79	0.81		ICM
	MPVD	PEX	PA	NTH	ILC	CPAU	LOT	ICM

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

LOT	+ 0.89	PA
LOT	+ 0.86	CPAU
CPAU	+ 0.83	PA
ICM	+ 0.81	LOT
ICM	+ 0.79	CPAU
ICM	+ 0.76	PEX

High negative correlations

ICM	- 0.65	ILC
ILC	- 0.56	PEX
ILC	- 0.45	NTH
LOT	- 0.44	ILC
CPAU	- 0.38	ILC
ILC	- 0.31	PA

Risk-Adjusted Indicators

There is a big difference between Conifex Stock performing well and Conifex Timber 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 Conifex Timber'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
MPVD	6.83	1.59	0.11	0.58	6.01	(22.89)	20.00	(14.29)	100.00
PEX	4.98	0.44	0.07	0.96	4.69	(7.69)	13.04	(8.33)	25.71
PA	4.20	0.78	0.09	0.73	4.00	(10.14)	8.33	(7.14)	43.05
NTH	4.04	0.09	0.01	(0.64)	4.41	(6.69)	10.00	(10.00)	32.60
ILC	8.09	0.15	0.01	0.41	10.32	(20.74)	20.00	(20.00)	78.57
CPAU	5.47	0.96	0.10	(0.83)	4.88	(10.91)	13.33	(9.52)	40.91
LOT	6.16	1.75	0.09	1.50	5.72	(20.90)	22.22	(16.67)	53.33
ICM	8.57	1.96	0.15	0.65	9.39	(11.91)	20.00	(14.29)	64.03

Be your own money manager

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