Idaho Strategic Correlations

IDR Stock

USD 11.51 0.34 2.87%

The current 90-days correlation between Idaho Strategic Resources and Vista Gold is 0.37 (i.e., Weak diversification). The correlation of Idaho Strategic 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.

Idaho Strategic Correlation With Market

Good diversification

The correlation between Idaho Strategic Resources and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Idaho Strategic Resources and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Idaho Strategic Resources. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Idaho Stock

0.65	CE	Celanese	Pair Corr
0.63	SA	Seabridge Gold	Pair Corr
0.74	AGI	Alamos Gold	Pair Corr
0.79	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.63	DRD	DRDGOLD Limited ADR	Pair Corr
0.64	EGO	Eldorado Gold Corp	Pair Corr
0.63	FCX	Freeport McMoran Copper Aggressive Push	Pair Corr
0.69	FNV	Franco Nevada	Pair Corr
0.75	GFI	Gold Fields	Pair Corr
0.66	HMY	Harmony Gold Mining Earnings Call Next Week	Pair Corr
0.78	HUN	Huntsman	Pair Corr

Moving against Idaho Stock

0.56	WLKP	Westlake Chemical	Pair Corr
0.4	WS	Worthington Steel	Pair Corr
0.39	CMC	Commercial Metals	Pair Corr
0.32	GGB	Gerdau SA ADR	Pair Corr
0.32	HLP	Hongli Group Ordinary	Pair Corr

Related Correlations Analysis

	NKOSF	AIRRF	PUMXF	GLNS	SICNF	PZG	VGZ	ORZCF	RIOFF
NKOSF		-0.01	-0.56	-0.52	0.46	0.37	0.38	0.55	-0.34	NKOSF
AIRRF	-0.01		0.22	0.62	-0.28	-0.15	0.61	0.54	0.73	AIRRF
PUMXF	-0.56	0.22		0.57	-0.56	-0.53	-0.25	-0.27	0.44	PUMXF
GLNS	-0.52	0.62	0.57		-0.61	-0.28	0.28	0.1	0.84	GLNS
SICNF	0.46	-0.28	-0.56	-0.61		0.25	0.02	0.16	-0.56	SICNF
PZG	0.37	-0.15	-0.53	-0.28	0.25		0.24	0.26	-0.24	PZG
VGZ	0.38	0.61	-0.25	0.28	0.02	0.24		0.79	0.39	VGZ
ORZCF	0.55	0.54	-0.27	0.1	0.16	0.26	0.79		0.27	ORZCF
RIOFF	-0.34	0.73	0.44	0.84	-0.56	-0.24	0.39	0.27		RIOFF
	NKOSF	AIRRF	PUMXF	GLNS	SICNF	PZG	VGZ	ORZCF	RIOFF

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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

RIOFF	+ 0.84	GLNS
ORZCF	+ 0.79	VGZ
RIOFF	+ 0.73	AIRRF
GLNS	+ 0.62	AIRRF
VGZ	+ 0.61	AIRRF
GLNS	+ 0.57	PUMXF

High negative correlations

SICNF	- 0.61	GLNS
RIOFF	- 0.56	SICNF
SICNF	- 0.56	PUMXF
PUMXF	- 0.56	NKOSF
PZG	- 0.53	PUMXF
GLNS	- 0.52	NKOSF

Risk-Adjusted Indicators

There is a big difference between Idaho Stock performing well and Idaho Strategic 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 Idaho Strategic'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
NKOSF	5.95	(0.06)	0.00	0.15	0.00	0.00	13.21	(13.88)	32.11
AIRRF	2.30	(0.05)	(0.03)	0.01	2.93	(3.47)	5.13	(6.12)	15.14
PUMXF	2.61	0.84	0.00	(7.51)	0.00	0.00	4.71	0.00	57.54
GLNS	0.45	0.16	0.00	0.49	0.00	0.00	0.00	0.00	15.00
SICNF	6.63	(0.31)	(0.01)	0.00	8.19	(8.42)	14.94	(16.26)	37.33
PZG	3.06	(0.01)	0.00	0.33	0.00	0.00	7.32	(6.82)	27.67
VGZ	2.95	(0.16)	(0.03)	(0.01)	3.61	(3.61)	6.90	(5.45)	19.54
ORZCF	2.66	(0.24)	0.00	(0.54)	0.00	0.00	5.36	(6.67)	22.11
RIOFF	2.42	0.32	0.06	16.98	2.24	(4.33)	5.77	(4.26)	16.67

Idaho Strategic Corporate Executives

Elected by the shareholders, the Idaho Strategic's board of directors comprises two types of representatives: Idaho Strategic inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Idaho. The board's role is to monitor Idaho Strategic's management team and ensure that shareholders' interests are well served. Idaho Strategic'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, Idaho Strategic's outside directors are responsible for providing unbiased perspectives on the board's policies.

Grant PE

CFO, CoFounder

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