Elementos Correlations

ELT Stock

0.45 0.02 4.26%

The current 90-days correlation between Elementos and Perseus Mining is 0.31 (i.e., Weak diversification). The correlation of Elementos 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.

Elementos Correlation With Market

Poor diversification

The correlation between Elementos and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elementos and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Elementos Stock

0.83	EVN	Evolution Mining	Pair Corr
0.78	AAI	Alcoa	Pair Corr
0.82	BSL	Bluescope Steel	Pair Corr
0.88	RMS	Ramelius Resources	Pair Corr
0.86	SFR	Sandfire Resources	Pair Corr
0.67	GMD	Genesis Minerals	Pair Corr
0.71	PRU	Perseus Mining	Pair Corr
0.86	BHP	BHP Group	Pair Corr
0.65	CBAPK	Commonwealth Bank	Pair Corr
0.81	CBAPJ	Commonwealth Bank	Pair Corr
0.74	CXL	CALIX	Pair Corr
0.83	G50	G50 Corp	Pair Corr
0.73	CKA	Cokal	Pair Corr
0.86	SMM	Somerset Minerals	Pair Corr
0.73	WR1	Winsome Resources	Pair Corr
0.77	SVR	Solvar	Pair Corr
0.83	JHX	James Hardie Industries	Pair Corr
0.87	NMG	New Murchison Gold	Pair Corr
0.84	NHC	New Hope	Pair Corr
0.7	AIA	Auckland International	Pair Corr
0.87	CTM	Centaurus Metals	Pair Corr
0.82	PWH	PWR Holdings	Pair Corr
0.78	RHI	Red Hill Minerals	Pair Corr

Moving against Elementos Stock

0.39

OEL

Otto Energy

Pair Corr

Related Correlations Analysis

	NST	EVN	AAI	BSL	RMS	SFR	GMD	PRU
NST		0.79	0.24	0.46	0.59	0.54	0.28	0.47	NST
EVN	0.79		0.66	0.77	0.88	0.87	0.56	0.6	EVN
AAI	0.24	0.66		0.84	0.86	0.88	0.8	0.69	AAI
BSL	0.46	0.77	0.84		0.88	0.88	0.66	0.69	BSL
RMS	0.59	0.88	0.86	0.88		0.94	0.82	0.8	RMS
SFR	0.54	0.87	0.88	0.88	0.94		0.75	0.7	SFR
GMD	0.28	0.56	0.8	0.66	0.82	0.75		0.88	GMD
PRU	0.47	0.6	0.69	0.69	0.8	0.7	0.88		PRU
	NST	EVN	AAI	BSL	RMS	SFR	GMD	PRU

Risk-Adjusted Indicators

There is a big difference between Elementos Stock performing well and Elementos 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 Elementos' 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
NST	2.24	0.24	0.06	0.65	3.31	(2.17)	4.07	(4.59)	13.67
EVN	2.19	0.57	0.20	0.74	2.28	(2.47)	4.54	(3.76)	15.90
AAI	2.32	0.65	0.22	0.69	2.35	(2.70)	6.03	(3.95)	15.79
BSL	1.41	0.37	0.33	0.56	0.68	(1.99)	2.63	(1.59)	23.57
RMS	2.49	0.43	0.13	0.74	2.75	(2.90)	6.72	(5.33)	13.99
SFR	1.59	0.38	0.15	0.55	1.79	(1.63)	4.20	(3.53)	12.09
GMD	2.60	0.28	0.06	0.91	3.45	(2.63)	5.39	(5.36)	17.50
PRU	1.97	0.19	0.06	0.75	2.25	(2.26)	3.78	(3.96)	12.60

Be your own money manager

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

Elected by the shareholders, the Elementos' board of directors comprises two types of representatives: Elementos inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Elementos. The board's role is to monitor Elementos' management team and ensure that shareholders' interests are well served. Elementos' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Elementos' outside directors are responsible for providing unbiased perspectives on the board's policies.

ACA ACA	Company Secretary	Profile
Duncan ACA	Company Secretary	Profile
AGIA BBus	Chief Officer	Profile
Jane Harvey	Senior Geologist	Profile

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