Midland Exploration Correlations

MIDLF Stock

USD 0.33 0.00 0.00%

The current 90-days correlation between Midland Exploration and GoMgA Resources is -0.12 (i.e., Good diversification). The correlation of Midland Exploration 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.

Midland Exploration Correlation With Market

Good diversification

The correlation between Midland Exploration and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midland Exploration and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Midland Pink Sheet

0.53	PTITF	PT Indosat Tbk	Pair Corr
0.48	KEP	Korea Electric Power	Pair Corr
0.46	TLK	Telkom Indonesia Tbk	Pair Corr
0.46	PTAIY	Astra International Tbk	Pair Corr
0.31	EC	Ecopetrol SA ADR	Pair Corr
0.51	HE	Hawaiian Electric	Pair Corr
0.48	GM	General Motors	Pair Corr
0.47	TEO	Telecom Argentina	Pair Corr
0.42	APGE	Apogee Therapeutics,	Pair Corr
0.4	ARRXF	Archer Materials	Pair Corr
0.38	NOEM	CO2 Energy Transition	Pair Corr
0.31	EGP	EastGroup Properties	Pair Corr
0.46	CHACR	Crane Harbor Acquisition	Pair Corr
0.45	DNLMY	Dunelm Group PLC	Pair Corr
0.42	REGN	Regeneron Pharmaceuticals	Pair Corr
0.4	CX	Cemex SAB de Aggressive Push	Pair Corr

Related Correlations Analysis

	CYDVF	AWMLF	GOMRF	CATPF	EMHXY	EMHLF	PMYLF	CAULF	DRRSF	ELTLF
CYDVF		0.33	0.45	-0.13	0.3	0.35	-0.22	0.07	0.07	-0.45	CYDVF
AWMLF	0.33		0.12	0.18	0.51	0.51	0.1	0.07	0.13	-0.5	AWMLF
GOMRF	0.45	0.12		0.08	-0.18	-0.08	-0.49	0.23	0.25	-0.04	GOMRF
CATPF	-0.13	0.18	0.08		-0.06	-0.13	-0.15	0.19	-0.02	0.03	CATPF
EMHXY	0.3	0.51	-0.18	-0.06		0.88	0.51	-0.21	0.13	-0.89	EMHXY
EMHLF	0.35	0.51	-0.08	-0.13	0.88		0.36	-0.24	0.27	-0.74	EMHLF
PMYLF	-0.22	0.1	-0.49	-0.15	0.51	0.36		-0.44	-0.33	-0.33	PMYLF
CAULF	0.07	0.07	0.23	0.19	-0.21	-0.24	-0.44		0.15	0.13	CAULF
DRRSF	0.07	0.13	0.25	-0.02	0.13	0.27	-0.33	0.15		-0.15	DRRSF
ELTLF	-0.45	-0.5	-0.04	0.03	-0.89	-0.74	-0.33	0.13	-0.15		ELTLF
	CYDVF	AWMLF	GOMRF	CATPF	EMHXY	EMHLF	PMYLF	CAULF	DRRSF	ELTLF

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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

EMHLF	+ 0.88	EMHXY
EMHXY	+ 0.51	AWMLF
EMHLF	+ 0.51	AWMLF
PMYLF	+ 0.51	EMHXY
GOMRF	+ 0.45	CYDVF
PMYLF	+ 0.36	EMHLF

High negative correlations

ELTLF	- 0.89	EMHXY
ELTLF	- 0.74	EMHLF
ELTLF	- 0.5	AWMLF
PMYLF	- 0.49	GOMRF
ELTLF	- 0.45	CYDVF
CAULF	- 0.44	PMYLF

Risk-Adjusted Indicators

There is a big difference between Midland Pink Sheet performing well and Midland Exploration 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 Midland Exploration'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
CYDVF	3.94	0.43	0.06	(1.21)	3.52	(7.42)	10.00	(5.26)	20.63
AWMLF	15.81	5.03	0.19	(3.78)	11.75	(44.10)	77.38	(32.50)	152.59
GOMRF	4.44	0.25	0.04	0.30	4.55	(7.00)	9.52	(8.70)	25.38
CATPF	25.95	9.19	0.21	(17.10)	20.16	(61.07)	83.33	(45.45)	295.45
EMHXY	2.64	1.07	0.00	0.94	0.00	0.00	8.21	0.00	49.44
EMHLF	5.63	1.38	0.14	0.69	4.56	(17.05)	19.23	(12.50)	82.80
PMYLF	5.98	2.08	0.22	(1.24)	3.70	(18.55)	16.00	(10.34)	95.83
CAULF	7.45	1.16	0.03	(0.64)	9.93	(30.84)	31.25	(22.22)	108.65
DRRSF	5.16	0.36	0.06	0.30	4.67	(10.51)	14.29	(7.14)	43.27
ELTLF	1.95	(0.94)	0.00	0.83	0.00	0.00	0.00	0.00	50.00

Be your own money manager

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