ERAMET SA Correlations

ERMAF Stock

USD 68.93 9.14 11.71%

The current 90-days correlation between ERAMET SA and Nickel Mines Limited is 0.01 (i.e., Significant diversification). The correlation of ERAMET SA 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.

ERAMET SA Correlation With Market

Very weak diversification

The correlation between ERAMET SA and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ERAMET SA and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ERAMET Pink Sheet

0.65	BHPLF	BHP Group Limited	Pair Corr
0.66	RIO	Rio Tinto ADR Earnings Call This Week	Pair Corr
0.65	BHP	BHP Group Limited	Pair Corr
0.64	RTPPF	Rio Tinto Group Earnings Call This Week	Pair Corr
0.69	GLCNF	Glencore PLC Earnings Call This Week	Pair Corr
0.68	GLNCY	Glencore PLC ADR Earnings Call This Week	Pair Corr
0.72	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.75	SLSR	Solaris Resources	Pair Corr
0.68	MXCHY	Orbia Advance Corp	Pair Corr
0.74	MTGRF	Mount Gibson Iron	Pair Corr
0.65	BLAGF	Blue Lagoon Resources	Pair Corr

Moving against ERAMET Pink Sheet

0.7	PBCRY	Bank Central Asia	Pair Corr
0.32	PBCRF	PT Bank Central	Pair Corr
0.35	AFIIQ	Armstrong Flooring	Pair Corr

Related Correlations Analysis

	NICMF	ILKAF	DETRF	ILKAY	SOUHY	LINRF	PTNDF	FMCXF	TAOFF	DWMNF
NICMF		-0.02	0.86	-0.03	0.88	0.8	0.0	0.94	0.46	-0.17	NICMF
ILKAF	-0.02		0.01	0.96	-0.1	0.36	0.0	0.03	0.22	-0.1	ILKAF
DETRF	0.86	0.01		0.02	0.89	0.77	0.0	0.89	0.41	-0.11	DETRF
ILKAY	-0.03	0.96	0.02		-0.12	0.34	0.0	0.02	0.2	-0.11	ILKAY
SOUHY	0.88	-0.1	0.89	-0.12		0.75	0.0	0.96	0.51	-0.07	SOUHY
LINRF	0.8	0.36	0.77	0.34	0.75		0.0	0.82	0.43	-0.02	LINRF
PTNDF	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	PTNDF
FMCXF	0.94	0.03	0.89	0.02	0.96	0.82	0.0		0.49	-0.15	FMCXF
TAOFF	0.46	0.22	0.41	0.2	0.51	0.43	0.0	0.49		0.01	TAOFF
DWMNF	-0.17	-0.1	-0.11	-0.11	-0.07	-0.02	0.0	-0.15	0.01		DWMNF
	NICMF	ILKAF	DETRF	ILKAY	SOUHY	LINRF	PTNDF	FMCXF	TAOFF	DWMNF

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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

ILKAY	+ 0.96	ILKAF
FMCXF	+ 0.96	SOUHY
FMCXF	+ 0.94	NICMF
SOUHY	+ 0.89	DETRF
FMCXF	+ 0.89	DETRF
SOUHY	+ 0.88	NICMF

High negative correlations

DWMNF	- 0.17	NICMF
DWMNF	- 0.15	FMCXF
SOUHY	- 0.12	ILKAY
DWMNF	- 0.11	ILKAY
DWMNF	- 0.11	DETRF
DWMNF	- 0.1	ILKAF

Risk-Adjusted Indicators

There is a big difference between ERAMET Pink Sheet performing well and ERAMET SA 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 ERAMET SA'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
NICMF	2.56	0.75	0.12	2.03	2.30	(5.23)	9.09	(6.25)	18.33
ILKAF	2.92	(0.11)	0.00	(5.47)	0.00	0.00	5.57	(5.77)	23.10
DETRF	2.32	0.34	0.08	1.36	2.55	(3.69)	6.14	(4.76)	24.51
ILKAY	2.97	(0.06)	0.00	0.69	0.00	0.00	6.67	(5.34)	21.12
SOUHY	1.59	0.53	0.28	0.52	1.45	(1.89)	3.41	(2.42)	11.03
LINRF	5.27	0.89	0.12	1.42	5.95	(6.72)	12.22	(8.51)	52.39
PTNDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FMCXF	2.87	1.01	0.33	1.56	2.36	(3.59)	7.26	(4.00)	16.36
TAOFF	3.04	(0.15)	0.00	0.33	0.00	0.00	10.92	(8.11)	46.55
DWMNF	4.14	(0.39)	0.00	0.99	0.00	0.00	8.99	(14.22)	15.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in ERAMET SA 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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