Fission 30 Correlations

FUU Stock

CAD 0.23 0.01 4.17%

The current 90-days correlation between Fission 30 Corp and Skyharbour Resources is 0.47 (i.e., Very weak diversification). The correlation of Fission 30 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Fission 30 Correlation With Market

Good diversification

The correlation between Fission 30 Corp and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fission 30 Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Fission 30 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Fission 30 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 Fission 30 - 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 Fission 30 Corp to buy it.

Moving against Fission Stock

0.66	RBA	Ritchie Bros Auctioneers	Pair Corr
0.42	ENS	E Split Corp	Pair Corr
0.38	TD-PFI	Toronto Dominion Bank	Pair Corr
0.37	ENS-PA	E Split Corp	Pair Corr

Related Correlations Analysis

	FIND	STND	SYH	XHB	ALA-PA	ERE-UN	CLU	RUDB	BN-PFI	XEG
FIND		0.52	-0.23	-0.64	0.41	-0.77	-0.58	-0.5	0.37	-0.04	FIND
STND	0.52		0.19	-0.28	-0.02	-0.41	-0.07	0.07	-0.21	0.14	STND
SYH	-0.23	0.19		0.49	-0.52	0.55	0.65	0.5	-0.37	0.41	SYH
XHB	-0.64	-0.28	0.49		-0.62	0.81	0.67	0.73	-0.63	-0.16	XHB
ALA-PA	0.41	-0.02	-0.52	-0.62		-0.52	-0.53	-0.54	0.7	-0.07	ALA-PA
ERE-UN	-0.77	-0.41	0.55	0.81	-0.52		0.86	0.71	-0.43	0.26	ERE-UN
CLU	-0.58	-0.07	0.65	0.67	-0.53	0.86		0.75	-0.5	0.46	CLU
RUDB	-0.5	0.07	0.5	0.73	-0.54	0.71	0.75		-0.63	0.18	RUDB
BN-PFI	0.37	-0.21	-0.37	-0.63	0.7	-0.43	-0.5	-0.63		0.17	BN-PFI
XEG	-0.04	0.14	0.41	-0.16	-0.07	0.26	0.46	0.18	0.17		XEG
	FIND	STND	SYH	XHB	ALA-PA	ERE-UN	CLU	RUDB	BN-PFI	XEG

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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

CLU	+ 0.86	ERE-UN
ERE-UN	+ 0.81	XHB
RUDB	+ 0.75	CLU
RUDB	+ 0.73	XHB
RUDB	+ 0.71	ERE-UN
BN-PFI	+ 0.7	ALA-PA

High negative correlations

ERE-UN	- 0.77	FIND
XHB	- 0.64	FIND
BN-PFI	- 0.63	RUDB
BN-PFI	- 0.63	XHB
ALA-PA	- 0.62	XHB
CLU	- 0.58	FIND

Risk-Adjusted Indicators

There is a big difference between Fission Stock performing well and Fission 30 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 Fission 30'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
FIND	4.62	(0.24)	0.00	0.33	0.00	0.00	9.09	(8.33)	50.00
STND	5.00	(0.01)	0.00	0.23	0.00	0.00	12.50	(9.09)	30.15
SYH	2.90	0.32	0.07	0.61	2.83	(4.23)	7.14	(5.26)	16.73
XHB	0.19	0.02	(0.44)	(0.96)	0.06	(0.26)	0.46	(0.31)	1.07
ALA-PA	0.50	0.01	(0.17)	0.07	0.67	(0.60)	1.15	(1.45)	3.73
ERE-UN	1.45	0.54	0.29	(3.20)	0.75	(1.99)	3.95	(1.58)	20.23
CLU	0.50	0.10	(0.02)	4.86	0.35	(0.74)	1.07	(0.97)	4.36
RUDB	0.25	0.02	(0.19)	0.34	0.34	(0.26)	0.58	(0.62)	1.96
BN-PFI	0.48	(0.02)	0.00	0.73	0.00	0.00	1.09	(1.12)	2.87
XEG	1.20	(0.02)	(0.06)	0.05	1.65	(1.15)	2.20	(2.34)	8.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Fission 30 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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