Elementos Correlations

ELTLF Stock

USD 0.35 0.10 40.00%

The current 90-days correlation between Elementos Limited and Boab Metals Limited is -0.02 (i.e., Good 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.

Elementos Correlation With Market

Poor diversification

The correlation between Elementos Limited and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elementos Limited and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Elementos Stock

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Elementos Limited. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Elementos Stock

0.75	AACA	AALBERTS IND Earnings Call This Week	Pair Corr
0.76	CAV	Carnavale Resources Split	Pair Corr
0.61	VVDH	VEOLIA ENV SP	Pair Corr
0.76	21L	Alphamin Resources Corp	Pair Corr
0.65	RMY	RAMSAY HEALTH CARE Earnings Call This Week	Pair Corr
0.67	FR7	Fast Retailing	Pair Corr
0.67	CWN	CROWN HOLDINGS	Pair Corr
0.87	OTP	OTP Bank Nyrt	Pair Corr
0.67	A8D	AB SCIENCE	Pair Corr
0.83	PF8	European Lithium	Pair Corr
0.62	IE	Ivanhoe Electric Buyout Trend	Pair Corr
0.88	DEZ	Deutz AG	Pair Corr

Moving against Elementos Stock

0.53	6RC	REPROCELL	Pair Corr
0.5	VA7A	VERISK ANLYTCS A	Pair Corr
0.45	6WX	CN LONGYUAN POWER	Pair Corr
0.79	SON1	Sony Group Corp	Pair Corr
0.66	GEO	Empire Metals Limited	Pair Corr
0.31	BF5B	BROWN NON VTG	Pair Corr
0.75	BF5B	BROWN NON VTG	Pair Corr
0.53	UMD	UMT United Mobility	Pair Corr

Related Correlations Analysis

	PMYLF	NVLHF	CATPF	CRUCF	EMHXY	EMHLF	WHYRF	AWMLF	NMREF	CYDVF
PMYLF		0.05	-0.07	0.78	0.2	0.12	0.52	-0.07	0.47	0.85	PMYLF
NVLHF	0.05		-0.21	0.33	-0.03	-0.06	-0.08	0.22	-0.2	-0.01	NVLHF
CATPF	-0.07	-0.21		-0.15	-0.2	-0.32	0.09	-0.27	0.01	-0.09	CATPF
CRUCF	0.78	0.33	-0.15		0.33	0.21	0.41	0.2	0.46	0.68	CRUCF
EMHXY	0.2	-0.03	-0.2	0.33		0.84	0.05	0.47	0.26	0.24	EMHXY
EMHLF	0.12	-0.06	-0.32	0.21	0.84		-0.08	0.46	0.08	0.12	EMHLF
WHYRF	0.52	-0.08	0.09	0.41	0.05	-0.08		-0.14	0.76	0.69	WHYRF
AWMLF	-0.07	0.22	-0.27	0.2	0.47	0.46	-0.14		0.22	0.01	AWMLF
NMREF	0.47	-0.2	0.01	0.46	0.26	0.08	0.76	0.22		0.64	NMREF
CYDVF	0.85	-0.01	-0.09	0.68	0.24	0.12	0.69	0.01	0.64		CYDVF
	PMYLF	NVLHF	CATPF	CRUCF	EMHXY	EMHLF	WHYRF	AWMLF	NMREF	CYDVF

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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

CYDVF	+ 0.85	PMYLF
EMHLF	+ 0.84	EMHXY
CRUCF	+ 0.78	PMYLF
NMREF	+ 0.76	WHYRF
CYDVF	+ 0.69	WHYRF
CYDVF	+ 0.68	CRUCF

High negative correlations

EMHLF	- 0.32	CATPF
AWMLF	- 0.27	CATPF
CATPF	- 0.21	NVLHF
EMHXY	- 0.2	CATPF
NMREF	- 0.2	NVLHF
CRUCF	- 0.15	CATPF

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
PMYLF	5.57	1.70	0.20	0.98	3.52	(18.55)	16.00	(10.34)	95.83
NVLHF	3.40	(0.01)	(0.01)	0.04	4.16	(8.66)	8.33	(7.69)	29.17
CATPF	24.94	6.54	0.19	0.82	19.35	(65.87)	83.33	(45.45)	295.45
CRUCF	9.32	2.27	0.11	0.96	9.96	(30.41)	22.22	(14.29)	191.31
EMHXY	2.34	0.80	0.00	1.55	0.00	0.00	5.42	0.00	49.44
EMHLF	6.64	1.31	0.10	(0.67)	6.36	(14.10)	19.05	(14.29)	88.10
WHYRF	2.63	0.32	0.02	(0.13)	3.37	(8.91)	8.00	(9.68)	49.68
AWMLF	10.42	2.18	0.13	3.08	9.40	(23.54)	27.91	(21.15)	115.98
NMREF	6.23	0.61	0.06	(21.47)	6.01	(10.89)	14.29	(10.53)	40.82
CYDVF	5.68	1.46	0.20	1.02	5.15	(8.26)	15.79	(9.68)	39.77

Elementos Corporate Management

Joe David	CEO MD	Profile
ACA ACA	Company Secretary	Profile
Duncan ACA	Company Secretary	Profile
AGIA BBus	Chief Officer	Profile
Jane Harvey	Senior Geologist	Profile

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