Irving Resources Correlations

IRVRF Stock

USD 0.34 0.01 3.03%

The current 90-days correlation between Irving Resources and Canagold Resources is -0.01 (i.e., Good diversification). The correlation of Irving Resources 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.

Irving Resources Correlation With Market

Poor diversification

The correlation between Irving Resources and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Irving Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Irving OTC Stock

0.73	NEM	Newmont Goldcorp Corp Earnings Call This Week	Pair Corr
0.76	AEM	Agnico Eagle Mines	Pair Corr
0.74	WPM	Wheaton Precious Metals	Pair Corr
0.78	AU	AngloGold Ashanti plc Earnings Call This Week	Pair Corr
0.75	ZIJMY	Zijin Mining Group	Pair Corr
0.75	ZIJMF	Zijin Mining Group	Pair Corr
0.65	KGC	Kinross Gold Earnings Call This Week	Pair Corr
0.76	GFI	Gold Fields Earnings Call This Week	Pair Corr
0.89	GOLD	Gold Inc Symbol Change	Pair Corr
0.72	BMYMP	Bristol Myers Squibb	Pair Corr
0.86	TSM	Taiwan Semiconductor Aggressive Push	Pair Corr
0.77	BNEFF	Bonterra Energy Corp	Pair Corr
0.78	EMMA	Emmaus Life Sciences	Pair Corr
0.85	CGECF	Cogeco Inc	Pair Corr
0.77	SLSR	Solaris Resources	Pair Corr
0.8	DUK-PA	Duke Energy	Pair Corr
0.75	TLOFF	Talon Metals Corp	Pair Corr
0.86	MEGI	MainStay CBRE Global Normal Trading	Pair Corr
0.64	BLAGF	Blue Lagoon Resources	Pair Corr
0.89	PLSE	Pulse Biosciences	Pair Corr
0.85	AES	AES Aggressive Push	Pair Corr
0.62	PRTS	CarPartsCom	Pair Corr
0.66	YLLXF	Yellow Cake plc Downward Rally	Pair Corr

Moving against Irving OTC Stock

0.81	MSFT	Microsoft Sell-off Trend	Pair Corr
0.52	AMZN	Amazon Inc	Pair Corr

Related Correlations Analysis

	AMEGF	CRCUF	LMEFF	ECRFF	CPNFF	BLAGF	GAYMF	LOMLF	SICNF	AUXXF
AMEGF		0.84	-0.48	0.87	0.59	0.89	0.48	0.89	0.65	0.78	AMEGF
CRCUF	0.84		-0.31	0.78	0.56	0.81	0.53	0.82	0.56	0.69	CRCUF
LMEFF	-0.48	-0.31		-0.6	-0.37	-0.6	-0.01	-0.45	-0.44	-0.48	LMEFF
ECRFF	0.87	0.78	-0.6		0.7	0.88	0.51	0.89	0.7	0.68	ECRFF
CPNFF	0.59	0.56	-0.37	0.7		0.72	0.74	0.64	0.51	0.25	CPNFF
BLAGF	0.89	0.81	-0.6	0.88	0.72		0.53	0.82	0.61	0.69	BLAGF
GAYMF	0.48	0.53	-0.01	0.51	0.74	0.53		0.59	0.33	0.1	GAYMF
LOMLF	0.89	0.82	-0.45	0.89	0.64	0.82	0.59		0.72	0.7	LOMLF
SICNF	0.65	0.56	-0.44	0.7	0.51	0.61	0.33	0.72		0.57	SICNF
AUXXF	0.78	0.69	-0.48	0.68	0.25	0.69	0.1	0.7	0.57		AUXXF
	AMEGF	CRCUF	LMEFF	ECRFF	CPNFF	BLAGF	GAYMF	LOMLF	SICNF	AUXXF

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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

BLAGF	+ 0.89	AMEGF
LOMLF	+ 0.89	AMEGF
LOMLF	+ 0.89	ECRFF
BLAGF	+ 0.88	ECRFF
ECRFF	+ 0.87	AMEGF
CRCUF	+ 0.84	AMEGF

High negative correlations

BLAGF	- 0.6	LMEFF
ECRFF	- 0.6	LMEFF
AUXXF	- 0.48	LMEFF
LMEFF	- 0.48	AMEGF
LOMLF	- 0.45	LMEFF
SICNF	- 0.44	LMEFF

Risk-Adjusted Indicators

There is a big difference between Irving OTC Stock performing well and Irving Resources OTC Stock 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 Irving Resources' 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
AMEGF	3.25	0.54	0.12	0.84	2.91	(5.26)	7.14	(5.41)	41.95
CRCUF	3.44	0.43	0.05	(0.76)	3.90	(5.81)	8.33	(9.09)	37.92
LMEFF	2.24	(0.22)	0.00	0.62	0.00	0.00	5.26	(9.09)	29.57
ECRFF	4.37	0.69	0.08	0.66	4.42	(9.79)	14.29	(12.50)	38.82
CPNFF	4.92	1.12	0.16	(46.55)	4.29	(8.19)	13.04	(7.69)	32.50
BLAGF	2.79	0.43	0.09	0.36	3.08	(3.94)	6.94	(5.63)	25.14
GAYMF	5.71	0.06	0.03	0.08	6.07	(7.23)	12.50	(9.62)	36.33
LOMLF	3.55	0.58	0.08	1.48	3.65	(5.93)	8.33	(7.14)	25.64
SICNF	5.47	1.14	0.15	2.05	4.34	(11.21)	16.67	(10.00)	46.83
AUXXF	4.56	0.45	0.10	0.25	4.70	(5.62)	10.00	(8.06)	26.92

Be your own money manager

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