Energy Fuels Correlations

EFR Stock

CAD 29.13 2.10 6.72%

The current 90-days correlation between Energy Fuels and NexGen Energy is 0.8 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Energy Fuels moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Energy Fuels moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Energy Fuels Correlation With Market

Poor diversification

The correlation between Energy Fuels 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 Energy Fuels and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Energy Stock

0.64	ENB-PFV	Enbridge Pref 5	Pair Corr
0.63	ENB-PFC	Enbridge Pref 11	Pair Corr
0.71	ENB-PFU	Enbridge Pref L	Pair Corr
0.61	GSTM	Goldstorm Metals Corp	Pair Corr
0.82	HD	Home Depot CDR	Pair Corr
0.74	PML	Panoro Minerals	Pair Corr
0.7	BN-PC	Brookfield	Pair Corr
0.89	ISO	IsoEnergy	Pair Corr
0.75	LNR	Linamar Earnings Call This Week	Pair Corr
0.87	PSLV	Sprott Physical Silver	Pair Corr
0.85	RUP	Rupert Resources	Pair Corr
0.72	PESO	Pesorama	Pair Corr
0.78	TF	Timbercreek Financial	Pair Corr
0.94	PGDC	Patagonia Gold Corp	Pair Corr
0.91	MU	Micron Technology	Pair Corr
0.82	MOLY	Greenland Resources Earnings Call This Week	Pair Corr
0.9	ATX	ATEX Resources	Pair Corr
0.81	HLF	High Liner Foods	Pair Corr
0.79	IVN	Ivanhoe Mines	Pair Corr
0.87	CJT	Cargojet	Pair Corr
0.71	BTO	B2Gold Corp	Pair Corr
0.78	NSE	New Stratus Energy	Pair Corr
0.8	GMG	Graphene Manufacturing Earnings Call This Week	Pair Corr
0.61	QNC	Quantum eMotion Corp	Pair Corr

Moving against Energy Stock

0.84	ENS-PA	E Split Corp	Pair Corr
0.66	SAGE	Sage Potash Corp	Pair Corr
0.47	UBER	Uber CDR	Pair Corr
0.4	ABBV	AbbVie CDR	Pair Corr

Related Correlations Analysis

	NXE	DML	PSK	URE	PEY	EU	GEI
NXE		0.98	0.69	0.91	0.7	0.59	0.69	NXE
DML	0.98		0.79	0.84	0.79	0.46	0.79	DML
PSK	0.69	0.79		0.4	0.97	0.03	0.95	PSK
URE	0.91	0.84	0.4		0.41	0.74	0.38	URE
PEY	0.7	0.79	0.97	0.41		0.03	0.94	PEY
EU	0.59	0.46	0.03	0.74	0.03		-0.03	EU
GEI	0.69	0.79	0.95	0.38	0.94	-0.03		GEI
	NXE	DML	PSK	URE	PEY	EU	GEI

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

DML	+ 0.98	NXE
PEY	+ 0.97	PSK
GEI	+ 0.95	PSK
GEI	+ 0.94	PEY
URE	+ 0.91	NXE
URE	+ 0.84	DML

High negative correlations

GEI

- 0.03

Risk-Adjusted Indicators

There is a big difference between Energy Stock performing well and Energy Fuels 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 Energy Fuels' 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
NXE	2.54	0.66	0.19	1.32	2.53	(2.83)	6.55	(4.88)	18.56
DML	3.10	0.83	0.22	1.17	2.99	(3.61)	7.34	(5.26)	23.59
PSK	1.19	0.22	0.11	0.63	1.26	(1.28)	2.62	(2.58)	6.28
URE	2.72	0.45	0.11	(85.77)	3.14	(3.10)	6.12	(6.25)	18.61
PEY	1.33	0.25	0.12	0.65	1.52	(1.48)	2.93	(2.36)	7.89
EU	3.87	0.06	0.01	0.12	5.09	(4.16)	8.95	(9.01)	35.43
GEI	0.93	0.28	0.14	(1.54)	0.94	(1.00)	1.91	(1.92)	5.11

Be your own money manager

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