Erdene Resource Correlations
| ERDCF Stock | USD 0.43 0.01 2.38% |
The current 90-days correlation between Erdene Resource Deve and NioCorp Developments Ltd is 0.08 (i.e., Significant diversification). The correlation of Erdene Resource 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.
Erdene Resource Correlation With Market
Good diversification
The correlation between Erdene Resource Development and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Erdene Resource Development and DJI in the same portfolio, assuming nothing else is changed.
Erdene |
The ability to find closely correlated positions to Erdene Resource could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Erdene Resource 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 Erdene Resource - 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 Erdene Resource Development to buy it.
Moving together with Erdene Pink Sheet
| 0.77 | SSNLF | Samsung Electronics | PairCorr |
| 0.71 | PTAIF | PT Astra International | PairCorr |
| 0.7 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.8 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.65 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.74 | HD | Home Depot | PairCorr |
| 0.74 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.67 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
Moving against Erdene Pink Sheet
| 0.82 | MAPSW | WM Technology | PairCorr |
| 0.7 | CHKEL | Chesapeake Energy Symbol Change | PairCorr |
| 0.47 | CHKEZ | Chesapeake Energy Symbol Change | PairCorr |
| 0.46 | EC | Ecopetrol SA ADR Sell-off Trend | PairCorr |
| 0.41 | GOEVW | Canoo Holdings | PairCorr |
| 0.42 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.4 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Erdene Pink Sheet performing well and Erdene Resource 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 Erdene Resource'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SHTLF | 1.67 | 0.33 | 0.03 | (68.21) | 1.90 | 4.80 | 28.25 | |||
| NB | 3.33 | (0.41) | 0.00 | (0.61) | 0.00 | 5.33 | 28.43 | |||
| 444859BR2 | 1.36 | (0.03) | 0.00 | 0.24 | 0.00 | 5.93 | 16.62 | |||
| SCRYY | 2.07 | 0.36 | 0.08 | (0.73) | 2.02 | 5.61 | 12.99 | |||
| AQUI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| APAAX | 0.14 | 0.02 | (0.38) | (0.13) | 0.14 | 0.31 | 1.13 | |||
| SCRYX | 0.95 | 0.11 | 0.01 | 0.70 | 0.91 | 2.10 | 7.88 | |||
| LBHIX | 0.12 | 0.02 | (0.44) | 1.66 | 0.00 | 0.24 | 0.96 | |||
| MSTSX | 0.49 | 0.04 | (0.14) | (0.75) | 0.52 | 1.21 | 2.80 | |||
| ID | 3.84 | 0.83 | 0.15 | 1.41 | 3.95 | 7.89 | 20.54 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Erdene Resource 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.Did you try this?
Run Headlines Timeline Now
Headlines TimelineStay connected to all market stories and filter out noise. Drill down to analyze hype elasticity |
| All Next | Launch Module |
Erdene Resource Corporate Management
| Gendenjamtsyn BatErdene | Geologist | Profile | |
| Diane Webber | Director Communications | Profile | |
| Suzan LLB | Co Sec | Profile | |
| Michael Corey | Chief Mongolia | Profile | |
| Peter BSc | CEO Pres | Profile | |
| Michael BSc | VP Exploration | Profile |