Northern Star Correlations

NESRF Stock

USD 11.30 0.10 0.89%

The current 90-days correlation between Northern Star Resources and Evolution Mining is 0.21 (i.e., Modest diversification). The correlation of Northern Star 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.

Northern Star Correlation With Market

Good diversification

The correlation between Northern Star Resources and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Star Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Northern Pink Sheet

0.68	AEM	Agnico Eagle Mines	Pair Corr
0.72	WPM	Wheaton Precious Metals	Pair Corr
0.77	GFI	Gold Fields	Pair Corr
0.66	APLD	Applied Blockchain Trending	Pair Corr

Moving against Northern Pink Sheet

0.67	NCMGF	Newcrest Mining	Pair Corr
0.43	SHG	Shinhan Financial	Pair Corr
0.41	PPERF	Bank Mandiri Persero	Pair Corr
0.41	BKRKF	PT Bank Rakyat	Pair Corr
0.31	BKRKY	Bank Rakyat	Pair Corr
0.54	AMIX	Autonomix Medical, Common	Pair Corr

Related Correlations Analysis

	RGRNF	WFRSF	DPMLF	MGMLF	CEXPF	CAHPF	WDOFF	CGAU	DRDGF	ALKEF
RGRNF		0.12	0.15	-0.4	0.0	0.82	-0.49	-0.13	0.78	0.63	RGRNF
WFRSF	0.12		0.45	0.25	0.0	0.27	0.18	0.45	0.01	0.13	WFRSF
DPMLF	0.15	0.45		0.53	0.0	0.48	0.57	0.87	-0.16	0.41	DPMLF
MGMLF	-0.4	0.25	0.53		0.0	-0.2	0.68	0.62	-0.51	-0.12	MGMLF
CEXPF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CEXPF
CAHPF	0.82	0.27	0.48	-0.2	0.0		-0.17	0.19	0.62	0.7	CAHPF
WDOFF	-0.49	0.18	0.57	0.68	0.0	-0.17		0.75	-0.65	0.04	WDOFF
CGAU	-0.13	0.45	0.87	0.62	0.0	0.19	0.75		-0.45	0.29	CGAU
DRDGF	0.78	0.01	-0.16	-0.51	0.0	0.62	-0.65	-0.45		0.42	DRDGF
ALKEF	0.63	0.13	0.41	-0.12	0.0	0.7	0.04	0.29	0.42		ALKEF
	RGRNF	WFRSF	DPMLF	MGMLF	CEXPF	CAHPF	WDOFF	CGAU	DRDGF	ALKEF

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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

CGAU	+ 0.87	DPMLF
CAHPF	+ 0.82	RGRNF
DRDGF	+ 0.78	RGRNF
CGAU	+ 0.75	WDOFF
ALKEF	+ 0.7	CAHPF
WDOFF	+ 0.68	MGMLF

High negative correlations

DRDGF	- 0.65	WDOFF
DRDGF	- 0.51	MGMLF
WDOFF	- 0.49	RGRNF
DRDGF	- 0.45	CGAU
MGMLF	- 0.4	RGRNF
CAHPF	- 0.2	MGMLF

Risk-Adjusted Indicators

There is a big difference between Northern Pink Sheet performing well and Northern Star 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 Northern Star'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
RGRNF	2.62	0.63	0.08	2.29	2.68	(6.85)	11.11	(8.13)	29.11
WFRSF	2.36	(0.01)	0.00	0.22	0.00	0.00	8.87	(5.31)	37.65
DPMLF	1.34	0.00	0.00	0.11	0.00	0.00	2.45	(2.85)	7.70
MGMLF	4.05	(0.65)	0.00	(0.37)	0.00	0.00	7.27	(9.09)	21.04
CEXPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CAHPF	2.55	0.20	0.05	0.32	2.75	(3.56)	5.39	(5.43)	21.17
WDOFF	1.91	(0.20)	0.00	(0.49)	0.00	0.00	4.71	(3.83)	13.33
CGAU	1.85	(0.25)	0.00	(0.46)	0.00	0.00	4.50	(4.66)	13.16
DRDGF	0.66	0.31	0.00	(6.90)	0.00	0.00	0.00	0.00	13.98
ALKEF	4.90	0.28	0.01	(3.30)	6.37	(11.82)	16.67	(12.90)	50.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Northern Star 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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Northern Star Corporate Management

Steven McClare	Chief Officer	Profile
Geol MBA	Chief Officer	Profile
Sophie Spartalis	Gen Relations	Profile
Daniel Howe	Chief Officer	Profile
Sarah Reilly	Legal Sec	Profile
Stuart BEng	MD CEO	Profile
Simon Jessop	Chief Officer	Profile

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