Azarga Metals Correlations

EUUNF Stock

USD 0.02 0 26.67%

The correlation of Azarga Metals 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.

Azarga Metals Correlation With Market

Good diversification

The correlation between Azarga Metals Corp and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Azarga Metals Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Azarga Pink Sheet

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0.38	ATCOL	Atlas Corp	Pair Corr
0.37	BKRKF	PT Bank Rakyat	Pair Corr
0.36	KO	Coca Cola Aggressive Push	Pair Corr
0.6	GE	GE Aerospace	Pair Corr
0.51	JPM	JPMorgan Chase	Pair Corr
0.51	JNJ	Johnson Johnson	Pair Corr
0.46	MMM	3M Company	Pair Corr
0.35	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	EDDYF	CBRSF	AVRTF	ADTLF	AUMTF	ARTTF	AZMTF	ALTPF	ASDRF	BNTRF
EDDYF		0.48	0.0	-0.31	-0.47	0.2	0.3	-0.58	-0.37	-0.43	EDDYF
CBRSF	0.48		0.0	-0.2	-0.38	0.18	0.46	-0.24	-0.43	-0.25	CBRSF
AVRTF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AVRTF
ADTLF	-0.31	-0.2	0.0		-0.06	0.15	0.37	0.46	0.26	0.19	ADTLF
AUMTF	-0.47	-0.38	0.0	-0.06		-0.09	-0.43	0.37	0.3	0.36	AUMTF
ARTTF	0.2	0.18	0.0	0.15	-0.09		0.01	-0.16	-0.26	-0.16	ARTTF
AZMTF	0.3	0.46	0.0	0.37	-0.43	0.01		0.03	-0.17	-0.01	AZMTF
ALTPF	-0.58	-0.24	0.0	0.46	0.37	-0.16	0.03		0.61	0.33	ALTPF
ASDRF	-0.37	-0.43	0.0	0.26	0.3	-0.26	-0.17	0.61		0.38	ASDRF
BNTRF	-0.43	-0.25	0.0	0.19	0.36	-0.16	-0.01	0.33	0.38		BNTRF
	EDDYF	CBRSF	AVRTF	ADTLF	AUMTF	ARTTF	AZMTF	ALTPF	ASDRF	BNTRF

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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

ASDRF	+ 0.61	ALTPF
CBRSF	+ 0.48	EDDYF
AZMTF	+ 0.46	CBRSF
ALTPF	+ 0.46	ADTLF
BNTRF	+ 0.38	ASDRF
AZMTF	+ 0.37	ADTLF

High negative correlations

ALTPF	- 0.58	EDDYF
AUMTF	- 0.47	EDDYF
AZMTF	- 0.43	AUMTF
ASDRF	- 0.43	CBRSF
BNTRF	- 0.43	EDDYF
AUMTF	- 0.38	CBRSF

Risk-Adjusted Indicators

There is a big difference between Azarga Pink Sheet performing well and Azarga Metals 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 Azarga Metals' 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
EDDYF	3.24	0.43	0.03	(0.92)	4.51	(15.73)	17.06	(12.41)	52.58
CBRSF	13.40	2.63	0.05	1.88	14.76	(150.00)	0.00	(50.00)	366.67
AVRTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ADTLF	1.48	0.12	0.03	(1.18)	1.83	(4.56)	5.56	(4.94)	15.47
AUMTF	2.36	0.38	0.00	(0.84)	0.00	0.00	0.00	0.00	70.45
ARTTF	18.64	5.30	0.11	(2.39)	15.95	(93.18)	106.00	(44.00)	186.93
AZMTF	1.93	(0.13)	0.00	(0.13)	0.00	0.00	4.55	(4.65)	18.45
ALTPF	4.14	0.13	0.01	0.06	5.87	(15.34)	19.44	(14.29)	42.86
ASDRF	4.49	0.79	0.00	(4.77)	0.00	0.00	33.33	(12.50)	75.00
BNTRF	8.34	0.82	0.04	0.28	10.77	(14.54)	30.00	(23.55)	100.38

Be your own money manager

Our tools can tell you how much better you can do entering a position in Azarga Metals 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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