Ero Copper Correlations

ERO Stock

CAD 41.20 0.43 1.05%

The current 90-days correlation between Ero Copper Corp and Wesdome Gold Mines is 0.4 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Ero Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Ero Copper Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Ero Copper Correlation With Market

Poor diversification

The correlation between Ero Copper Corp and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ero Copper Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ero Stock

0.91	AG	First Majestic Silver Earnings Call Today	Pair Corr
0.92	IE	Ivanhoe Energy Earnings Call This Week	Pair Corr
0.93	ORE	Orezone Gold Corp	Pair Corr
0.92	FDY	Faraday Copper Corp	Pair Corr
0.75	GOOG	Alphabet CDR	Pair Corr
0.75	GOOG	Alphabet CDR	Pair Corr
0.83	FTT	Finning International	Pair Corr
0.68	WPRT	Westport Fuel Systems	Pair Corr
0.72	DAN	Arianne Phosphate	Pair Corr
0.89	PSLV	Sprott Physical Silver	Pair Corr
0.89	NICU	Magna Mining	Pair Corr
0.91	RKR	ROKMASTER Resources Corp	Pair Corr
0.7	MS	Morgan Stanley CDR	Pair Corr
0.73	WAST	Waste Management CDR	Pair Corr
0.89	PGDC	Patagonia Gold Corp	Pair Corr
0.9	MKO	Mako Mining Corp	Pair Corr
0.72	AGI	Alamos Gold	Pair Corr
0.8	BTO	B2Gold Corp	Pair Corr
0.67	BTE	Baytex Energy Corp	Pair Corr
0.86	PML	Panoro Minerals	Pair Corr
0.8	CU-PH	Canadian Utilities Earnings Call This Week	Pair Corr
0.65	DOS	Dios Exploration	Pair Corr
0.76	ENB-PFC	Enbridge Pref 11	Pair Corr

Moving against Ero Stock

0.73	BRK	Berkshire Hathaway CDR	Pair Corr
0.73	BRK	Berkshire Hathaway CDR	Pair Corr
0.62	MSFT	Microsoft Corp CDR	Pair Corr
0.62	MSFT	Microsoft CDR	Pair Corr
0.55	AAPL	Apple CDR	Pair Corr
0.55	AAPL	Apple Inc CDR	Pair Corr

Related Correlations Analysis

	WDO	IE	CIA	ERD	FVI	CG	TKO	MX	SKE	ARIS
WDO		0.72	0.8	0.89	0.79	0.66	0.52	0.62	0.58	0.73	WDO
IE	0.72		0.79	0.84	0.82	0.85	0.83	0.87	0.84	0.91	IE
CIA	0.8	0.79		0.8	0.71	0.54	0.46	0.58	0.52	0.68	CIA
ERD	0.89	0.84	0.8		0.78	0.71	0.61	0.73	0.64	0.77	ERD
FVI	0.79	0.82	0.71	0.78		0.88	0.8	0.76	0.85	0.92	FVI
CG	0.66	0.85	0.54	0.71	0.88		0.96	0.92	0.98	0.96	CG
TKO	0.52	0.83	0.46	0.61	0.8	0.96		0.93	0.96	0.93	TKO
MX	0.62	0.87	0.58	0.73	0.76	0.92	0.93		0.91	0.91	MX
SKE	0.58	0.84	0.52	0.64	0.85	0.98	0.96	0.91		0.95	SKE
ARIS	0.73	0.91	0.68	0.77	0.92	0.96	0.93	0.91	0.95		ARIS
	WDO	IE	CIA	ERD	FVI	CG	TKO	MX	SKE	ARIS

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Risk-Adjusted Indicators

There is a big difference between Ero Stock performing well and Ero Copper 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 Ero Copper'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
WDO	2.41	0.16	0.05	0.17	3.16	(2.55)	5.28	(4.49)	16.25
IE	3.91	0.31	0.07	0.17	4.92	(4.18)	8.04	(8.02)	26.80
CIA	1.76	0.01	0.00	0.04	2.14	(1.93)	3.78	(3.73)	11.75
ERD	2.77	0.06	0.02	0.07	3.37	(2.99)	6.02	(5.70)	25.72
FVI	2.66	0.29	0.08	0.20	3.67	(2.86)	5.28	(6.31)	24.56
CG	2.33	0.62	0.15	0.49	3.38	(2.40)	5.87	(4.10)	21.48
TKO	2.95	0.97	0.26	0.78	2.95	(3.56)	8.21	(4.83)	23.02
MX	1.70	0.36	0.16	0.45	1.82	(1.88)	3.91	(2.58)	14.33
SKE	2.94	0.89	0.21	0.62	3.53	(3.18)	6.60	(6.36)	22.08
ARIS	2.66	0.78	0.17	0.77	3.93	(2.83)	5.81	(5.08)	25.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Ero Copper 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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