Canstar Resources Correlations

CSRNF Stock

USD 0.06 0.01 8.70%

The current 90-days correlation between Canstar Resources and Sitka Gold Corp is -0.14 (i.e., Good diversification). The correlation of Canstar Resources 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.

Canstar Resources Correlation With Market

Poor diversification

The correlation between Canstar Resources and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Canstar Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Canstar Pink Sheet

0.62	BHPLF	BHP Group Limited	Pair Corr
0.65	BHP	BHP Group Limited	Pair Corr
0.68	RIO	Rio Tinto ADR	Pair Corr
0.62	RTNTF	Rio Tinto Group	Pair Corr
0.69	RTPPF	Rio Tinto Group	Pair Corr
0.79	GLCNF	Glencore PLC	Pair Corr
0.79	GLNCY	Glencore PLC ADR	Pair Corr
0.67	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.67	MOG-A	Moog Inc	Pair Corr
0.75	CGON	CG Oncology Common	Pair Corr
0.7	ALL-PB	Allstate	Pair Corr
0.68	ENBP	ENB Financial Corp	Pair Corr
0.78	ESCA	Escalade Incorporated	Pair Corr
0.8	ALEEF	Alerio Gold Corp	Pair Corr
0.63	TWODF	Taylor Wimpey plc Earnings Call This Week	Pair Corr
0.75	CMI	Cummins	Pair Corr
0.66	MBINN	Merchants Bancorp	Pair Corr
0.73	UAMY	United States Antimony Aggressive Push	Pair Corr
0.76	POGS	Pioneer Oil Gas	Pair Corr
0.63	CMTV	Community Bancorp Common	Pair Corr

Moving against Canstar Pink Sheet

0.59

TTCM

Tautachrome

Pair Corr

Related Correlations Analysis

	MYRLF	PEIMF	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL
MYRLF		0.35	0.98	0.74	0.84	0.92	0.4	0.0	-0.21	0.68	MYRLF
PEIMF	0.35		0.43	0.61	0.53	0.51	0.13	0.0	-0.31	0.51	PEIMF
MSTSX	0.98	0.43		0.81	0.91	0.98	0.43	0.0	-0.2	0.77	MSTSX
LBHIX	0.74	0.61	0.81		0.82	0.85	0.49	0.0	-0.28	0.72	LBHIX
VIASP	0.84	0.53	0.91	0.82		0.95	0.37	0.0	-0.32	0.85	VIASP
RRTLX	0.92	0.51	0.98	0.85	0.95		0.4	0.0	-0.2	0.86	RRTLX
WQTM	0.4	0.13	0.43	0.49	0.37	0.4		0.0	-0.1	0.11	WQTM
OSHDF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OSHDF
SITKF	-0.21	-0.31	-0.2	-0.28	-0.32	-0.2	-0.1	0.0		-0.13	SITKF
RWAYL	0.68	0.51	0.77	0.72	0.85	0.86	0.11	0.0	-0.13		RWAYL
	MYRLF	PEIMF	MSTSX	LBHIX	VIASP	RRTLX	WQTM	OSHDF	SITKF	RWAYL

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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

MSTSX	+ 0.98	MYRLF
RRTLX	+ 0.98	MSTSX
RRTLX	+ 0.95	VIASP
RRTLX	+ 0.92	MYRLF
VIASP	+ 0.91	MSTSX
RWAYL	+ 0.86	RRTLX

High negative correlations

SITKF	- 0.32	VIASP
SITKF	- 0.31	PEIMF
SITKF	- 0.28	LBHIX
SITKF	- 0.21	MYRLF
SITKF	- 0.2	RRTLX
SITKF	- 0.2	MSTSX

Risk-Adjusted Indicators

There is a big difference between Canstar Pink Sheet performing well and Canstar Resources 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 Canstar Resources' 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
MYRLF	90.72	44.35	0.00	1.98	0.00	0.00	0.00	0.00	3,040
PEIMF	2.81	0.70	0.00	1.44	0.00	0.00	5.78	(3.38)	83.88
MSTSX	0.60	0.20	0.25	0.37	0.00	(0.74)	0.93	(0.88)	12.34
LBHIX	0.12	0.04	(0.35)	0.46	0.00	(0.22)	0.24	(0.12)	2.15
VIASP	0.28	0.05	(0.09)	10.66	0.17	(0.33)	0.64	(0.59)	1.72
RRTLX	0.25	0.07	0.06	0.31	0.00	(0.34)	0.57	(0.40)	3.30
WQTM	1.68	0.07	0.05	0.12	1.88	(1.73)	3.48	(3.22)	9.00
OSHDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SITKF	2.67	0.20	0.06	0.28	2.79	(3.55)	7.81	(5.71)	16.83
RWAYL	0.12	0.01	(0.39)	0.46	0.00	(0.15)	0.24	(0.20)	0.88

Be your own money manager

Our tools can tell you how much better you can do entering a position in Canstar Resources 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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Canstar Resources Corporate Management

CFA MBA	CEO Pres	Profile
Matthieu PGeo	VP Exploration	Profile
Carmelo Marrelli	Consultant	Profile
Angelo Demasi	Chief Officer	Profile
Shaun Drake	Consultant	Profile
BA CA	Chief Officer	Profile

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