Hut 8 Correlations
| HUT Stock | CAD 73.25 3.88 5.59% |
The current 90-days correlation between Hut 8 Mining and Onex Corp is 0.2 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Hut 8 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Hut 8 Mining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Hut 8 Correlation With Market
Poor diversification
The correlation between Hut 8 Mining and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hut 8 Mining and DJI in the same portfolio, assuming nothing else is changed.
Hut |
The ability to find closely correlated positions to Hut 8 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Hut 8 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 Hut 8 - 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 Hut 8 Mining to buy it.
Moving together with Hut Stock
| 0.69 | TMG | Thermal Energy Inter | PairCorr |
| 0.88 | PSLV | Sprott Physical Silver | PairCorr |
| 0.75 | MKO | Mako Mining Corp | PairCorr |
| 0.75 | WPRT | Westport Fuel Systems | PairCorr |
| 0.8 | LCS | Brompton Lifeco Split Split | PairCorr |
| 0.79 | QNC | Quantum eMotion Corp | PairCorr |
| 0.9 | URE | Ur Energy | PairCorr |
| 0.63 | LOVE | Cannara Biotech | PairCorr |
| 0.84 | FOM | Foran Mining | PairCorr |
| 0.76 | CFX | Canfor Pulp Products | PairCorr |
| 0.65 | DOS | Dios Exploration | PairCorr |
| 0.61 | BCE | BCE Inc | PairCorr |
| 0.76 | CU-PH | Canadian Utilities | PairCorr |
| 0.85 | SBI | Serabi Gold PLC | PairCorr |
| 0.75 | ACQ | Autocanada | PairCorr |
| 0.8 | AGI | Alamos Gold Earnings Call This Week | PairCorr |
| 0.61 | SLI | Standard Lithium | PairCorr |
| 0.71 | VCI | Vitreous Glass | PairCorr |
| 0.71 | FTT | Finning International | PairCorr |
| 0.77 | BGI-UN | Brookfield Global | PairCorr |
| 0.78 | BPF-UN | Boston Pizza Royalties | PairCorr |
Moving against Hut Stock
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Hut Stock performing well and Hut 8 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 Hut 8'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ONEX | 1.01 | (0.09) | 0.00 | (0.16) | 0.00 | 1.78 | 9.47 | |||
| DFY | 1.09 | (0.01) | 0.00 | 0.09 | 0.00 | 2.51 | 8.82 | |||
| BITF | 4.93 | (0.69) | 0.00 | (0.16) | 0.00 | 10.64 | 31.68 | |||
| ELF | 0.82 | 0.04 | 0.00 | 0.17 | 0.93 | 1.82 | 6.92 | |||
| CXI | 1.16 | 0.25 | 0.09 | 11.27 | 1.19 | 2.72 | 7.61 | |||
| CF | 1.26 | 0.02 | (0.01) | 0.12 | 1.46 | 2.89 | 9.69 | |||
| SATO | 5.24 | (0.87) | 0.00 | (0.35) | 0.00 | 14.29 | 41.83 | |||
| CBIT | 4.78 | (1.33) | 0.00 | (2.42) | 0.00 | 11.02 | 29.36 | |||
| CSTR | 30.67 | 7.24 | 0.15 | 5.86 | 23.52 | 100.00 | 150.00 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Hut 8 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.Did you try this?
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Hut 8 Corporate Management
Elected by the shareholders, the Hut 8's board of directors comprises two types of representatives: Hut 8 inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hut. The board's role is to monitor Hut 8's management team and ensure that shareholders' interests are well served. Hut 8's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hut 8's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Victor Semah | Chief Officer | Profile | |
| Matthew Prusak | Chief Officer | Profile | |
| Viktoriya Griffin | Co Sec | Profile | |
| CPA CMA | Chief Officer | Profile | |
| Josh Rayner | VP Sales | Profile |