Dios Exploration Correlations
| DOS Stock | CAD 0.04 0.01 16.67% |
The current 90-days correlation between Dios Exploration and Metalex Ventures is 0.17 (i.e., Average diversification). The correlation of Dios Exploration 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Dios Exploration Correlation With Market
Very weak diversification
The correlation between Dios Exploration and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dios Exploration and DJI in the same portfolio, assuming nothing else is changed.
Dios |
The ability to find closely correlated positions to Dios Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dios Exploration 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 Dios Exploration - 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 Dios Exploration to buy it.
Moving together with Dios Stock
| 0.62 | AG | First Majestic Silver Earnings Call This Week | PairCorr |
| 0.62 | ORE | Orezone Gold Corp | PairCorr |
| 0.64 | ROCK | Rockridge Resources | PairCorr |
| 0.67 | CU | Canadian Utilities | PairCorr |
| 0.67 | IPO | InPlay Oil Corp | PairCorr |
| 0.79 | ETG | Entree Resources | PairCorr |
| 0.65 | TMG | Thermal Energy Inter | PairCorr |
| 0.7 | BTE | Baytex Energy Corp | PairCorr |
| 0.68 | AIM | Aimia Inc | PairCorr |
| 0.75 | BCE | BCE Inc | PairCorr |
| 0.73 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.63 | RKR | ROKMASTER Resources Corp | PairCorr |
| 0.66 | NICU | Magna Mining | PairCorr |
Related Correlations Analysis
Risk-Adjusted Indicators
There is a big difference between Dios Stock performing well and Dios Exploration 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 Dios Exploration'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MTX | 17.29 | 4.77 | 0.09 | 1.99 | 14.75 | 100.00 | 150.00 | |||
| GLD | 4.61 | 1.00 | 0.08 | 17.86 | 4.69 | 14.29 | 34.85 | |||
| ULT | 8.82 | 1.99 | 0.00 | (0.45) | 0.00 | 50.00 | 133.33 | |||
| MTH | 10.10 | 1.29 | 0.08 | 0.39 | 10.62 | 33.33 | 136.36 |
Be your own money manager
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