Entree Resources Correlations

ERLFF Stock

USD 1.88 0.02 1.08%

The current 90-days correlation between Entree Resources and Erdene Resource Development is 0.12 (i.e., Average diversification). The correlation of Entree Resources 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.

Entree Resources Correlation With Market

Very weak diversification

The correlation between Entree Resources and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Entree Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Entree OTC Stock

0.7	PBMRF	PT Bumi Resources	Pair Corr
0.64	JNJ	Johnson Johnson	Pair Corr
0.8	INTC	Intel	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.76	HD	Home Depot	Pair Corr
0.72	BA	Boeing	Pair Corr

Moving against Entree OTC Stock

0.72	HPQ	HP Inc	Pair Corr
0.63	ADVWW	Advantage Solutions	Pair Corr
0.56	MAPSW	WM Technology	Pair Corr
0.53	MSFT	Microsoft	Pair Corr
0.48	GCMGW	GCM Grosvenor	Pair Corr
0.37	MMM	3M Company	Pair Corr
0.34	AXP	American Express	Pair Corr
0.33	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.31	BAC	Bank of America Sell-off Trend	Pair Corr

Related Correlations Analysis

	ERDCF	NTCPF	CTJHY	BENZF	WYCC	ECRAF	MMILF	MRRDF	GSCCF	AUMTF
ERDCF		0.8	-0.49	0.48	0.0	0.81	0.06	0.34	0.62	0.75	ERDCF
NTCPF	0.8		-0.44	0.64	0.0	0.86	-0.19	0.55	0.58	0.75	NTCPF
CTJHY	-0.49	-0.44		-0.52	0.0	-0.52	0.04	0.16	-0.34	-0.63	CTJHY
BENZF	0.48	0.64	-0.52		0.0	0.81	-0.18	0.56	0.23	0.74	BENZF
WYCC	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	WYCC
ECRAF	0.81	0.86	-0.52	0.81	0.0		0.02	0.6	0.55	0.89	ECRAF
MMILF	0.06	-0.19	0.04	-0.18	0.0	0.02		-0.14	0.05	0.03	MMILF
MRRDF	0.34	0.55	0.16	0.56	0.0	0.6	-0.14		0.3	0.47	MRRDF
GSCCF	0.62	0.58	-0.34	0.23	0.0	0.55	0.05	0.3		0.59	GSCCF
AUMTF	0.75	0.75	-0.63	0.74	0.0	0.89	0.03	0.47	0.59		AUMTF
	ERDCF	NTCPF	CTJHY	BENZF	WYCC	ECRAF	MMILF	MRRDF	GSCCF	AUMTF

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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

AUMTF	+ 0.89	ECRAF
ECRAF	+ 0.86	NTCPF
ECRAF	+ 0.81	ERDCF
ECRAF	+ 0.81	BENZF
NTCPF	+ 0.8	ERDCF
AUMTF	+ 0.75	ERDCF

High negative correlations

AUMTF	- 0.63	CTJHY
ECRAF	- 0.52	CTJHY
BENZF	- 0.52	CTJHY
CTJHY	- 0.49	ERDCF
CTJHY	- 0.44	NTCPF
GSCCF	- 0.34	CTJHY

Risk-Adjusted Indicators

There is a big difference between Entree OTC Stock performing well and Entree Resources OTC Stock 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 Entree Resources' 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
ERDCF	2.79	0.06	0.03	0.13	3.06	(3.49)	6.07	(4.86)	26.28
NTCPF	3.50	0.99	0.22	1.26	3.58	(4.43)	10.45	(5.64)	27.74
CTJHY	0.41	(0.04)	0.00	(0.10)	0.00	0.00	0.00	0.00	25.80
BENZF	4.06	1.30	0.29	1.07	3.04	(5.92)	12.63	(6.73)	35.99
WYCC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ECRAF	2.89	0.71	0.17	1.93	2.98	(3.72)	7.01	(6.06)	17.85
MMILF	3.69	0.16	0.00	0.05	0.00	0.00	18.25	(13.19)	67.43
MRRDF	2.92	0.61	0.12	1.00	3.61	(3.60)	6.14	(5.50)	21.20
GSCCF	325.30	156.83	16.60	1.74	0.00	(690.30)	11.11	(9.09)	10,917
AUMTF	5.33	0.96	0.07	0.98	5.86	(14.59)	21.05	(8.70)	57.69

Be your own money manager

Our tools can tell you how much better you can do entering a position in Entree Resources 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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