| COPJ Etf | | | 22.20 0.23 1.05% |
The current 90-days correlation between Sprott Junior Copper and Sprott Junior Uranium is 0.65 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sprott Junior moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Junior Copper moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Sprott Junior Correlation With Market
Very weak diversification
The correlation between Sprott Junior Copper and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Junior Copper and DJI in the same portfolio, assuming nothing else is changed.
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