Edgewater Exploration Correlations

EDWZF Stock

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The current 90-days correlation between Edgewater Exploration and Prime Meridian Resources is 0.02 (i.e., Significant diversification). The correlation of Edgewater 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.

Edgewater Exploration Correlation With Market

Poor diversification

The correlation between Edgewater Exploration and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Edgewater Exploration and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Edgewater 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 Edgewater 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 Edgewater 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 Edgewater Exploration to buy it.

Moving together with Edgewater Pink Sheet

0.8	NEM	Newmont Goldcorp Corp	Pair Corr
0.66	AEM	Agnico Eagle Mines	Pair Corr
0.76	WPM	Wheaton Precious Metals	Pair Corr
0.67	AU	AngloGold Ashanti plc	Pair Corr
0.76	ZIJMY	Zijin Mining Group	Pair Corr
0.73	ZIJMF	Zijin Mining Group	Pair Corr
0.72	KGC	Kinross Gold Aggressive Push	Pair Corr
0.7	GFI	Gold Fields	Pair Corr
0.63	GOLD	Gold Inc Symbol Change	Pair Corr
0.7	MOG-A	Moog Inc	Pair Corr
0.64	ASX	ASE Industrial Holding	Pair Corr
0.7	TBIO	Telesis Bio	Pair Corr
0.72	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.81	WZZZY	Wizz Air Holdings	Pair Corr
0.68	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.67	CMTV	Community Bancorp Common	Pair Corr
0.85	DREUF	Dream Industrial Real	Pair Corr

Moving against Edgewater Pink Sheet

0.7	PBCRY	Bank Central Asia	Pair Corr
0.66	PBCRF	PT Bank Central	Pair Corr
0.77	TTCM	Tautachrome	Pair Corr
0.47	RADLF	Radial Research Corp	Pair Corr

Related Correlations Analysis

	PMDRF	EREPF	EQTXF	SXNTF	MRLLF	GBBFF	XXMMF	KOREF	STLXF	AAUGF
PMDRF		-0.73	0.0	-0.82	0.5	-0.48	-0.29	-0.81	0.78	-0.42	PMDRF
EREPF	-0.73		0.0	0.8	-0.6	0.49	0.49	0.7	-0.76	0.49	EREPF
EQTXF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	EQTXF
SXNTF	-0.82	0.8	0.0		-0.56	0.7	0.51	0.87	-0.64	0.41	SXNTF
MRLLF	0.5	-0.6	0.0	-0.56		-0.35	-0.2	-0.71	0.52	-0.33	MRLLF
GBBFF	-0.48	0.49	0.0	0.7	-0.35		0.5	0.67	-0.34	0.23	GBBFF
XXMMF	-0.29	0.49	0.0	0.51	-0.2	0.5		0.36	-0.27	-0.05	XXMMF
KOREF	-0.81	0.7	0.0	0.87	-0.71	0.67	0.36		-0.65	0.36	KOREF
STLXF	0.78	-0.76	0.0	-0.64	0.52	-0.34	-0.27	-0.65		-0.4	STLXF
AAUGF	-0.42	0.49	0.0	0.41	-0.33	0.23	-0.05	0.36	-0.4		AAUGF
	PMDRF	EREPF	EQTXF	SXNTF	MRLLF	GBBFF	XXMMF	KOREF	STLXF	AAUGF

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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

KOREF	+ 0.87	SXNTF
SXNTF	+ 0.8	EREPF
STLXF	+ 0.78	PMDRF
KOREF	+ 0.7	EREPF
GBBFF	+ 0.7	SXNTF
KOREF	+ 0.67	GBBFF

High negative correlations

SXNTF	- 0.82	PMDRF
KOREF	- 0.81	PMDRF
STLXF	- 0.76	EREPF
EREPF	- 0.73	PMDRF
KOREF	- 0.71	MRLLF
STLXF	- 0.65	KOREF

Risk-Adjusted Indicators

There is a big difference between Edgewater Pink Sheet performing well and Edgewater 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 Edgewater 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
PMDRF	0.83	(0.41)	0.00	1.34	0.00	0.00	0.00	0.00	15.79
EREPF	2.53	0.67	0.00	0.96	0.00	0.00	10.00	0.00	48.72
EQTXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SXNTF	4.19	0.62	0.09	0.54	3.91	(9.41)	13.33	(10.71)	33.19
MRLLF	8.48	1.85	0.03	(0.13)	11.65	(71.01)	15.38	(28.57)	242.71
GBBFF	9.95	1.71	0.07	(0.32)	9.86	(24.77)	33.33	(25.00)	58.33
XXMMF	3.75	0.29	0.01	(0.24)	4.45	(13.95)	16.28	(9.62)	42.08
KOREF	6.29	1.49	0.14	(0.89)	5.49	(11.73)	18.75	(9.52)	45.13
STLXF	3.33	(0.51)	0.00	(4.30)	0.00	0.00	10.89	(10.06)	36.36
AAUGF	778.12	396.85	11.46	4.28	54.13	(1,139)	190.91	(64.52)	25,798

Be your own money manager

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