Imperial Metals Correlations

III Stock

CAD 10.60 0.40 3.92%

The current 90-days correlation between Imperial Metals and Marimaca Copper Corp is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Imperial Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Imperial Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Imperial Metals Correlation With Market

Poor diversification

The correlation between Imperial Metals 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 Imperial Metals and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Imperial 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 Imperial 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 Imperial 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 Imperial Metals to buy it.

Moving together with Imperial Stock

0.82	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.85	IE	Ivanhoe Energy	Pair Corr
0.82	ORE	Orezone Gold Corp	Pair Corr
0.86	FDY	Faraday Copper Corp	Pair Corr
0.82	FTT	Finning International	Pair Corr
0.73	WPRT	Westport Fuel Systems	Pair Corr
0.63	DAN	Arianne Phosphate	Pair Corr
0.85	PSLV	Sprott Physical Silver	Pair Corr
0.81	NICU	Magna Mining	Pair Corr
0.88	RKR	ROKMASTER Resources Corp	Pair Corr
0.68	MS	Morgan Stanley CDR	Pair Corr
0.61	WAST	Waste Management CDR	Pair Corr
0.85	PGDC	Patagonia Gold Corp	Pair Corr
0.83	MKO	Mako Mining Corp	Pair Corr
0.73	AGI	Alamos Gold Earnings Call This Week	Pair Corr
0.64	BTO	B2Gold Corp Earnings Call This Week	Pair Corr
0.63	BTE	Baytex Energy Corp	Pair Corr
0.92	PML	Panoro Minerals	Pair Corr
0.82	CU-PH	Canadian Utilities	Pair Corr
0.62	DOS	Dios Exploration	Pair Corr
0.79	ENB-PFC	Enbridge Pref 11	Pair Corr

Moving against Imperial Stock

0.72	BRK	Berkshire Hathaway CDR	Pair Corr
0.72	BRK	Berkshire Hathaway CDR	Pair Corr
0.68	AAPL	Apple CDR	Pair Corr
0.68	AAPL	Apple Inc CDR	Pair Corr
0.48	MSFT	Microsoft Corp CDR	Pair Corr
0.48	MSFT	Microsoft CDR	Pair Corr

Related Correlations Analysis

	MARI	SLI	IAU	ASE	AFM	ORE	APM	MSA
MARI		0.23	0.63	-0.38	0.68	0.54	0.37	0.64	MARI
SLI	0.23		0.29	-0.15	0.53	0.26	0.77	0.2	SLI
IAU	0.63	0.29		-0.53	0.8	0.72	0.6	0.84	IAU
ASE	-0.38	-0.15	-0.53		-0.33	-0.25	-0.38	-0.25	ASE
AFM	0.68	0.53	0.8	-0.33		0.77	0.65	0.85	AFM
ORE	0.54	0.26	0.72	-0.25	0.77		0.45	0.71	ORE
APM	0.37	0.77	0.6	-0.38	0.65	0.45		0.43	APM
MSA	0.64	0.2	0.84	-0.25	0.85	0.71	0.43		MSA
	MARI	SLI	IAU	ASE	AFM	ORE	APM	MSA

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

MSA	+ 0.85	AFM
MSA	+ 0.84	IAU
AFM	+ 0.8	IAU
APM	+ 0.77	SLI
ORE	+ 0.77	AFM
ORE	+ 0.72	IAU

High negative correlations

ASE	- 0.53	IAU
APM	- 0.38	ASE
ASE	- 0.38	MARI
AFM	- 0.33	ASE
MSA	- 0.25	ASE
ORE	- 0.25	ASE

Risk-Adjusted Indicators

There is a big difference between Imperial Stock performing well and Imperial 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 Imperial 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
MARI	1.84	(0.08)	0.00	(0.03)	0.00	0.00	4.50	(4.00)	14.46
SLI	3.96	0.25	0.04	(1.37)	4.78	(4.34)	8.57	(7.97)	25.39
IAU	3.15	0.99	0.22	1.76	3.62	(3.77)	6.25	(6.79)	18.10
ASE	3.26	(0.28)	0.00	(9.03)	0.00	0.00	6.18	(7.69)	18.25
AFM	3.03	0.38	0.08	0.65	3.57	(3.56)	7.14	(6.43)	16.95
ORE	3.42	0.85	0.22	0.43	3.38	(4.17)	8.11	(5.50)	25.76
APM	3.80	0.53	0.10	0.43	5.18	(4.18)	7.81	(6.72)	27.39
MSA	2.45	0.47	0.10	1.70	3.38	(2.46)	5.56	(5.92)	17.17

Be your own money manager

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