MMEX Resources Correlations

MMEX Stock

USD 0.0001 0.00 0.00%

The correlation of MMEX 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MMEX Resources Correlation With Market

Very good diversification

The correlation between MMEX Resources Corp and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MMEX Resources Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MMEX 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 MMEX 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 MMEX 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 MMEX Resources Corp to buy it.

Moving against MMEX Pink Sheet

0.5	GAYMF	Galway Metals	Pair Corr
0.44	MTGRF	Mount Gibson Iron	Pair Corr
0.4	CAMZF	Camino Minerals	Pair Corr
0.36	TOGOF	TomaGold	Pair Corr
0.35	USPH	US Physicalrapy	Pair Corr
0.34	INTC	Intel	Pair Corr
0.33	NNBR	NN Inc	Pair Corr
0.53	UMAC	Unusual Machines	Pair Corr
0.41	TATT	Tat Techno	Pair Corr
0.38	YLLXF	Yellow Cake plc Downward Rally	Pair Corr
0.35	CGECF	Cogeco Inc	Pair Corr
0.33	SLSR	Solaris Resources	Pair Corr
0.32	GS	Goldman Sachs Group	Pair Corr
0.31	TORO	Toro	Pair Corr

Related Correlations Analysis

	EFIR	PTCO	SRLY	PNRXF	OILCF	FECOF	ERHE	BDGR	ARSEF	WMELF
EFIR		0.0	0.0	1.0	0.0	0.0	0.0	0.0	0.0	0.0	EFIR
PTCO	0.0		0.72	0.0	0.47	-0.7	0.52	-0.2	0.93	-0.77	PTCO
SRLY	0.0	0.72		0.0	0.63	-0.52	0.48	0.13	0.69	-0.72	SRLY
PNRXF	1.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	PNRXF
OILCF	0.0	0.47	0.63	0.0		-0.35	0.09	0.11	0.46	-0.56	OILCF
FECOF	0.0	-0.7	-0.52	0.0	-0.35		-0.44	0.21	-0.74	0.74	FECOF
ERHE	0.0	0.52	0.48	0.0	0.09	-0.44		-0.23	0.56	-0.51	ERHE
BDGR	0.0	-0.2	0.13	0.0	0.11	0.21	-0.23		-0.26	0.1	BDGR
ARSEF	0.0	0.93	0.69	0.0	0.46	-0.74	0.56	-0.26		-0.85	ARSEF
WMELF	0.0	-0.77	-0.72	0.0	-0.56	0.74	-0.51	0.1	-0.85		WMELF
	EFIR	PTCO	SRLY	PNRXF	OILCF	FECOF	ERHE	BDGR	ARSEF	WMELF

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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

PNRXF	+ 1.0	EFIR
ARSEF	+ 0.93	PTCO
WMELF	+ 0.74	FECOF
SRLY	+ 0.72	PTCO
ARSEF	+ 0.69	SRLY
OILCF	+ 0.63	SRLY

High negative correlations

WMELF	- 0.85	ARSEF
WMELF	- 0.77	PTCO
ARSEF	- 0.74	FECOF
WMELF	- 0.72	SRLY
FECOF	- 0.7	PTCO
WMELF	- 0.56	OILCF

Risk-Adjusted Indicators

There is a big difference between MMEX Pink Sheet performing well and MMEX 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 MMEX 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
EFIR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTCO	8.03	0.14	0.01	0.11	10.52	(16.87)	30.61	(24.71)	93.30
SRLY	0.63	(0.17)	0.00	(0.64)	0.00	0.00	0.00	0.00	10.00
PNRXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
OILCF	1.58	(0.71)	0.00	0.48	0.00	0.00	0.00	0.00	52.91
FECOF	5.17	(0.04)	0.00	0.05	0.00	0.00	0.00	(27.08)	142.98
ERHE	99.20	52.87	0.71	(0.51)	31.06	(200.96)	255.00	(90.48)	1,743
BDGR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ARSEF	2.98	(1.54)	0.00	(5.80)	0.00	0.00	0.00	0.00	99.75
WMELF	3.93	1.74	0.00	1.88	0.00	0.00	0.00	0.00	73.05

Be your own money manager

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