IMPACT SILVER Correlations

IKL Stock

EUR 0.16 0.02 11.11%

The current 90-days correlation between IMPACT SILVER and Hemisphere Energy Corp is -0.03 (i.e., Good diversification). The correlation of IMPACT SILVER 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.

IMPACT SILVER Correlation With Market

Very good diversification

The correlation between IMPACT SILVER and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IMPACT SILVER and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with IMPACT Stock

0.63

DBPE

Xtrackers LevDAX

Pair Corr

Moving against IMPACT Stock

0.6	DBPD	Xtrackers ShortDAX	Pair Corr
0.56	CXT	Carmat SA	Pair Corr

Related Correlations Analysis

	APC	APC	8SP	2DG	INL	MEL	RDO	N4Q1	P5IB
APC		0.98	-0.57	-0.73	0.69	0.64	-0.21	0.58	0.18	APC
APC	0.98		-0.59	-0.72	0.69	0.64	-0.21	0.62	0.16	APC
8SP	-0.57	-0.59		0.75	-0.71	-0.83	0.24	-0.34	-0.09	8SP
2DG	-0.73	-0.72	0.75		-0.81	-0.81	0.5	-0.51	-0.16	2DG
INL	0.69	0.69	-0.71	-0.81		0.82	-0.43	0.7	0.21	INL
MEL	0.64	0.64	-0.83	-0.81	0.82		-0.31	0.39	0.02	MEL
RDO	-0.21	-0.21	0.24	0.5	-0.43	-0.31		-0.4	-0.01	RDO
N4Q1	0.58	0.62	-0.34	-0.51	0.7	0.39	-0.4		0.47	N4Q1
P5IB	0.18	0.16	-0.09	-0.16	0.21	0.02	-0.01	0.47		P5IB
	APC	APC	8SP	2DG	INL	MEL	RDO	N4Q1	P5IB

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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

APC	+ 0.98	APC
MEL	+ 0.82	INL
2DG	+ 0.75	8SP
N4Q1	+ 0.7	INL
INL	+ 0.69	APC
INL	+ 0.69	APC

High negative correlations

MEL	- 0.83	8SP
MEL	- 0.81	2DG
INL	- 0.81	2DG
2DG	- 0.73	APC
2DG	- 0.72	APC
INL	- 0.71	8SP

Risk-Adjusted Indicators

There is a big difference between IMPACT Stock performing well and IMPACT SILVER 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 IMPACT SILVER'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
APC	1.11	0.07	0.02	0.22	1.45	(1.15)	2.24	(2.65)	9.79
APC	1.19	0.06	0.02	0.21	1.23	(1.51)	2.96	(2.05)	8.21
8SP	2.05	(0.14)	0.00	0.38	0.00	0.00	3.36	(4.74)	20.22
2DG	4.15	(1.33)	0.00	(2.07)	0.00	0.00	7.14	(8.57)	52.42
INL	2.49	0.22	0.12	0.24	2.26	(3.25)	6.80	(3.69)	13.89
MEL	0.99	0.08	(0.01)	0.58	1.15	(1.14)	2.53	(1.58)	6.59
RDO	1.36	(0.19)	0.00	2.76	0.00	0.00	3.07	(4.76)	11.14
N4Q1	1.35	0.05	0.00	0.23	1.69	(1.97)	3.88	(3.10)	9.39
P5IB	10.29	2.14	0.09	(0.32)	11.88	(14.62)	21.05	(16.67)	129.48

Be your own money manager

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