Largo Resources Correlations

LGO Stock

CAD 2.04 0.05 2.39%

The current 90-days correlation between Largo Resources and C3 Metals is 0.16 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Largo Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Largo Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Largo Resources Correlation With Market

Poor diversification

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

The ability to find closely correlated positions to Largo 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 Largo 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 Largo 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 Largo Resources to buy it.

Moving together with Largo Stock

0.82	AG	First Majestic Silver Earnings Call This Week	Pair Corr
0.69	IE	Ivanhoe Energy	Pair Corr
0.82	ORE	Orezone Gold Corp	Pair Corr
0.78	FDY	Faraday Copper Corp	Pair Corr
0.74	RBA	Ritchie Bros Auctioneers Earnings Call This Week	Pair Corr
0.68	PSLV	Sprott Physical Silver	Pair Corr
0.73	AGI	Alamos Gold Earnings Call This Week	Pair Corr
0.64	NICU	Magna Mining	Pair Corr
0.82	IPO	InPlay Oil Corp	Pair Corr
0.8	CWEB	Charlottes Web Holdings	Pair Corr
0.62	EXE	Extendicare	Pair Corr
0.83	PWF-PA	Power Financial Corp	Pair Corr
0.82	PML	Panoro Minerals	Pair Corr
0.69	TUF	Honey Badger Silver	Pair Corr
0.67	WAST	Waste Management CDR	Pair Corr
0.79	TI	Titan Mining Corp	Pair Corr
0.89	FTT	Finning International	Pair Corr
0.81	BCE	BCE Inc	Pair Corr
0.71	COLA	Coca Cola	Pair Corr
0.77	SGR-U	Slate Grocery REIT	Pair Corr
0.68	RKR	ROKMASTER Resources Corp	Pair Corr
0.7	BTE	Baytex Energy Corp	Pair Corr
0.75	BPF-UN	Boston Pizza Royalties	Pair Corr
0.7	BBB	Brixton Metals	Pair Corr

Moving against Largo Stock

0.58	PNC-B	Postmedia Network Canada	Pair Corr
0.54	GFL	Gfl Environmental	Pair Corr

Related Correlations Analysis

	NEXT	CCCM	LTH	DEFN	PLSR	PML	LITH	RCK	GMX	AGX
NEXT		0.22	0.47	0.56	0.6	0.68	0.23	0.7	0.68	0.5	NEXT
CCCM	0.22		0.28	0.1	0.26	0.29	0.08	0.23	0.35	0.13	CCCM
LTH	0.47	0.28		0.69	0.59	0.7	0.65	0.41	0.61	0.81	LTH
DEFN	0.56	0.1	0.69		0.47	0.72	0.31	0.49	0.47	0.64	DEFN
PLSR	0.6	0.26	0.59	0.47		0.88	0.69	0.85	0.95	0.82	PLSR
PML	0.68	0.29	0.7	0.72	0.88		0.6	0.8	0.87	0.81	PML
LITH	0.23	0.08	0.65	0.31	0.69	0.6		0.51	0.64	0.77	LITH
RCK	0.7	0.23	0.41	0.49	0.85	0.8	0.51		0.84	0.62	RCK
GMX	0.68	0.35	0.61	0.47	0.95	0.87	0.64	0.84		0.76	GMX
AGX	0.5	0.13	0.81	0.64	0.82	0.81	0.77	0.62	0.76		AGX
	NEXT	CCCM	LTH	DEFN	PLSR	PML	LITH	RCK	GMX	AGX

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Risk-Adjusted Indicators

There is a big difference between Largo Stock performing well and Largo Resources 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 Largo 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
NEXT	3.85	(0.23)	0.00	(0.05)	0.00	0.00	8.33	(8.93)	36.29
CCCM	4.01	0.30	0.04	0.84	6.20	(5.06)	8.33	(6.67)	43.03
LTH	3.75	0.66	0.14	0.55	3.98	(4.74)	8.79	(6.98)	24.15
DEFN	2.96	(0.22)	0.00	(0.15)	0.00	0.00	8.00	(6.90)	22.22
PLSR	5.60	1.87	0.34	(0.84)	4.12	(7.69)	17.65	(7.35)	39.34
PML	4.79	0.54	0.07	(7.82)	5.20	(6.63)	12.50	(10.00)	39.03
LITH	2.87	0.55	0.13	(0.52)	2.68	(3.89)	7.14	(4.17)	25.14
RCK	3.71	0.29	0.06	1.49	3.55	(5.21)	7.89	(6.33)	28.05
GMX	2.56	0.77	0.29	1.26	2.03	(3.24)	6.72	(3.89)	16.50
AGX	4.78	1.10	0.19	0.61	4.80	(5.83)	11.39	(7.14)	31.09

Be your own money manager

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