Decade Resources Correlations

DECXF Stock

USD 0.08 0 2.44%

The current 90-days correlation between Decade Resources and Bitterroot Resources is -0.15 (i.e., Good diversification). The correlation of Decade 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.

Decade Resources Correlation With Market

Poor diversification

The correlation between Decade Resources and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Decade Resources and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Decade 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 Decade 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 Decade 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 Decade Resources to buy it.

Moving together with Decade Pink Sheet

0.82	BHPLF	BHP Group Limited	Pair Corr
0.82	BHP	BHP Group Limited	Pair Corr
0.87	RIO	Rio Tinto ADR	Pair Corr
0.81	RTNTF	Rio Tinto Group	Pair Corr
0.87	RTPPF	Rio Tinto Group	Pair Corr
0.9	GLCNF	Glencore PLC	Pair Corr
0.9	GLNCY	Glencore PLC ADR	Pair Corr
0.91	VALE	Vale SA ADR	Pair Corr
0.63	PRTS	CarPartsCom Earnings Call Tomorrow	Pair Corr
0.68	WZZZY	Wizz Air Holdings	Pair Corr
0.86	MOG-A	Moog Inc	Pair Corr
0.82	CGON	CG Oncology Common	Pair Corr
0.63	FMFP	First Community Financial	Pair Corr
0.72	CAPL	Crossamerica Partners	Pair Corr
0.76	GRBK	Green Brick Partners	Pair Corr
0.78	DFKCY	Daifuku Co	Pair Corr
0.67	TFC	Truist Financial Corp	Pair Corr
0.86	ALL-PB	Allstate	Pair Corr
0.81	ENBP	ENB Financial Corp	Pair Corr
0.62	BLE	BlackRock MIT II	Pair Corr
0.85	ESCA	Escalade Incorporated	Pair Corr
0.83	GEL	Genesis Energy LP	Pair Corr
0.83	ALEEF	Alerio Gold Corp	Pair Corr
0.76	TRP	TC Energy Corp	Pair Corr
0.72	TWODF	Taylor Wimpey plc Earnings Call Tomorrow	Pair Corr
0.87	CMI	Cummins	Pair Corr
0.87	MBINN	Merchants Bancorp	Pair Corr
0.85	DAR	Darling Ingredients	Pair Corr
0.75	ITW	Illinois Tool Works	Pair Corr
0.75	UAMY	United States Antimony Aggressive Push	Pair Corr
0.89	CMTV	Community Bancorp Common	Pair Corr

Moving against Decade Pink Sheet

0.36

TTCM

Tautachrome

Pair Corr

Related Correlations Analysis

	TMRFF	MGXMF	CBEEF	PEMSF	AVPMF	BITTF	CCWOF	HBKRF	PXCLY	BGAVF
TMRFF		0.0	0.0	0.57	0.17	0.12	0.57	0.0	0.41	-0.34	TMRFF
MGXMF	0.0		1.0	0.0	0.0	0.0	0.0	1.0	0.0	0.0	MGXMF
CBEEF	0.0	1.0		0.0	0.0	0.0	0.0	1.0	0.0	0.0	CBEEF
PEMSF	0.57	0.0	0.0		0.17	0.24	0.53	0.0	0.26	-0.08	PEMSF
AVPMF	0.17	0.0	0.0	0.17		0.64	-0.08	0.0	0.12	0.6	AVPMF
BITTF	0.12	0.0	0.0	0.24	0.64		-0.15	0.0	0.19	0.72	BITTF
CCWOF	0.57	0.0	0.0	0.53	-0.08	-0.15		0.0	0.36	-0.41	CCWOF
HBKRF	0.0	1.0	1.0	0.0	0.0	0.0	0.0		0.0	0.0	HBKRF
PXCLY	0.41	0.0	0.0	0.26	0.12	0.19	0.36	0.0		-0.19	PXCLY
BGAVF	-0.34	0.0	0.0	-0.08	0.6	0.72	-0.41	0.0	-0.19		BGAVF
	TMRFF	MGXMF	CBEEF	PEMSF	AVPMF	BITTF	CCWOF	HBKRF	PXCLY	BGAVF

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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

CBEEF	+ 1.0	MGXMF
HBKRF	+ 1.0	MGXMF
HBKRF	+ 1.0	CBEEF
BGAVF	+ 0.72	BITTF
BITTF	+ 0.64	AVPMF
BGAVF	+ 0.6	AVPMF

High negative correlations

BGAVF	- 0.41	CCWOF
BGAVF	- 0.34	TMRFF
BGAVF	- 0.19	PXCLY
CCWOF	- 0.15	BITTF
CCWOF	- 0.08	AVPMF
BGAVF	- 0.08	PEMSF

Risk-Adjusted Indicators

There is a big difference between Decade Pink Sheet performing well and Decade 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 Decade 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
TMRFF	7.50	0.63	0.00	0.52	0.00	0.00	26.00	0.00	170.48
MGXMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CBEEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PEMSF	8.77	1.95	0.18	(0.58)	7.46	(12.85)	15.75	(13.69)	138.60
AVPMF	14.71	5.35	0.14	(1.54)	10.98	(58.82)	75.00	(28.57)	144.00
BITTF	4.50	0.13	0.02	0.20	4.60	(7.59)	12.87	(8.21)	34.42
CCWOF	5.08	0.43	0.05	0.48	5.45	(7.46)	12.50	(11.11)	30.95
HBKRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PXCLY	1.31	(0.39)	0.00	2.91	0.00	0.00	0.00	0.00	62.27
BGAVF	23.02	12.12	0.54	(0.34)	13.76	(31.45)	23.64	(14.71)	697.32

Be your own money manager

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