Prospector Metals Correlations

PMCOF Stock

0.07 0.01 12.50%

The current 90-days correlation between Prospector Metals Corp and Cumulus Media Class is -0.03 (i.e., Good diversification). The correlation of Prospector Metals 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.

Prospector Metals Correlation With Market

Good diversification

The correlation between Prospector Metals Corp and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Prospector Metals Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Prospector OTC Stock

0.71	BKRKY	Bank Rakyat Earnings Call This Week	Pair Corr
0.62	PPERY	Bank Mandiri Persero	Pair Corr

Moving against Prospector OTC Stock

0.76	LGCY	Legacy Education	Pair Corr
0.67	TGNA	Tegna Inc	Pair Corr
0.61	AMZN	Amazon Inc Earnings Call This Week	Pair Corr
0.52	MNPR	Monopar Therapeutics	Pair Corr
0.46	GOOG	Alphabet Class C Earnings Call This Week	Pair Corr
0.46	BMYMP	Bristol Myers Squibb Earnings Call This Week	Pair Corr
0.44	EC	Ecopetrol SA ADR Buyout Trend	Pair Corr
0.42	META	Meta Platforms Aggressive Push	Pair Corr
0.4	AAPL	Apple Inc Aggressive Push	Pair Corr
0.34	MSFT	Microsoft Downward Rally	Pair Corr
0.75	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr
0.52	DNOW	Now Inc	Pair Corr
0.48	T	ATT Inc Earnings Call This Week	Pair Corr
0.38	HD	Home Depot	Pair Corr
0.37	MMM	3M Company	Pair Corr

Related Correlations Analysis

	PBSFY	RGLXY	IHRTB	ITVPY	MDIA	SGA	CMLS
PBSFY		0.33	0.32	0.53	0.16	0.66	0.72	PBSFY
RGLXY	0.33		-0.19	0.04	-0.28	0.14	0.37	RGLXY
IHRTB	0.32	-0.19		0.59	0.28	0.04	0.16	IHRTB
ITVPY	0.53	0.04	0.59		0.24	0.36	0.47	ITVPY
MDIA	0.16	-0.28	0.28	0.24		0.44	0.06	MDIA
SGA	0.66	0.14	0.04	0.36	0.44		0.75	SGA
CMLS	0.72	0.37	0.16	0.47	0.06	0.75		CMLS
	PBSFY	RGLXY	IHRTB	ITVPY	MDIA	SGA	CMLS

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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

CMLS	+ 0.75	SGA
CMLS	+ 0.72	PBSFY
SGA	+ 0.66	PBSFY
ITVPY	+ 0.59	IHRTB
ITVPY	+ 0.53	PBSFY
CMLS	+ 0.47	ITVPY

High negative correlations

MDIA	- 0.28	RGLXY
IHRTB	- 0.19	RGLXY

Risk-Adjusted Indicators

There is a big difference between Prospector OTC Stock performing well and Prospector Metals OTC Stock 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 Prospector Metals' 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
PBSFY	1.95	(0.09)	0.00	0.48	0.00	0.00	8.03	(5.34)	16.73
RGLXY	2.09	0.21	0.01	1.07	3.90	(8.88)	3.07	(5.66)	53.38
IHRTB	1.53	(0.34)	0.00	0.28	0.00	0.00	0.00	0.00	40.37
ITVPY	1.50	(0.08)	0.00	(0.17)	0.00	0.00	3.68	(2.36)	13.67
MDIA	3.62	(0.14)	0.00	0.68	0.00	0.00	7.14	(6.72)	41.28
SGA	1.76	(0.20)	0.00	(0.36)	0.00	0.00	3.44	(3.94)	9.97
CMLS	3.99	(0.37)	0.00	(0.40)	0.00	0.00	8.96	(8.54)	26.16

Be your own money manager

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