BLACK MAMMOTH Correlations

LQK2 Stock

EUR 0.71 0.02 2.74%

The current 90-days correlation between BLACK MAMMOTH METALS and BHP Group Limited is 0.01 (i.e., Significant diversification). The correlation of BLACK MAMMOTH 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.

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

Moving against BLACK Stock

0.47	CVLB	Vale SA	Pair Corr
0.42	DBPD	Xtrackers ShortDAX	Pair Corr
0.39	5FV	YAOKO LTD	Pair Corr
0.36	BHP	BHP Group Limited	Pair Corr
0.32	CVLC	Vale SA	Pair Corr
0.31	BHP1	BHP Group Limited	Pair Corr

Related Correlations Analysis

	BHP1	BHP	RIOA	RIO1	CVLC	CVLB	8GCA	8GC	NGLD	NGLB
BHP1		0.98	0.81	0.83	0.88	0.93	0.9	0.94	-0.02	0.06	BHP1
BHP	0.98		0.81	0.82	0.86	0.92	0.91	0.94	-0.02	0.05	BHP
RIOA	0.81	0.81		0.87	0.62	0.69	0.79	0.77	0.29	0.38	RIOA
RIO1	0.83	0.82	0.87		0.63	0.73	0.73	0.78	0.33	0.45	RIO1
CVLC	0.88	0.86	0.62	0.63		0.91	0.86	0.86	-0.16	-0.17	CVLC
CVLB	0.93	0.92	0.69	0.73	0.91		0.86	0.89	-0.18	-0.15	CVLB
8GCA	0.9	0.91	0.79	0.73	0.86	0.86		0.91	-0.02	-0.02	8GCA
8GC	0.94	0.94	0.77	0.78	0.86	0.89	0.91		-0.04	0.07	8GC
NGLD	-0.02	-0.02	0.29	0.33	-0.16	-0.18	-0.02	-0.04		0.81	NGLD
NGLB	0.06	0.05	0.38	0.45	-0.17	-0.15	-0.02	0.07	0.81		NGLB
	BHP1	BHP	RIOA	RIO1	CVLC	CVLB	8GCA	8GC	NGLD	NGLB

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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

BHP	+ 0.98	BHP1
8GC	+ 0.94	BHP1
8GC	+ 0.94	BHP
CVLB	+ 0.93	BHP1
CVLB	+ 0.92	BHP
8GCA	+ 0.91	BHP

High negative correlations

NGLD	- 0.18	CVLB
NGLB	- 0.17	CVLC
NGLD	- 0.16	CVLC
NGLB	- 0.15	CVLB
NGLD	- 0.04	8GC
NGLB	- 0.02	8GCA

Risk-Adjusted Indicators

There is a big difference between BLACK Stock performing well and BLACK MAMMOTH 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 BLACK MAMMOTH'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
BHP1	1.05	(0.16)	0.00	1.51	0.00	0.00	2.35	(1.92)	7.06
BHP	1.06	(0.16)	0.00	(26.61)	0.00	0.00	2.37	(2.22)	6.89
RIOA	1.28	(0.07)	0.00	(0.12)	0.00	0.00	2.59	(2.54)	10.56
RIO1	1.15	(0.04)	0.00	0.20	0.00	0.00	2.16	(2.53)	7.31
CVLC	1.24	(0.15)	0.00	2.45	0.00	0.00	2.65	(3.00)	8.14
CVLB	1.36	(0.19)	0.00	(7.02)	0.00	0.00	3.37	(2.64)	11.18
8GCA	1.64	(0.16)	0.00	(1.58)	0.00	0.00	3.14	(3.35)	11.24
8GC	1.37	(0.11)	0.00	(0.95)	0.00	0.00	3.05	(2.44)	13.05
NGLD	2.17	0.16	0.06	0.36	2.12	(2.95)	5.80	(3.55)	13.81
NGLB	1.51	0.22	0.09	6.10	1.90	(1.60)	3.09	(2.89)	9.77

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