Patriot Battery Correlations

PMETF Stock

USD 1.69 0.04 2.31%

The current 90-days correlation between Patriot Battery Metals and Frontier Lithium is 0.19 (i.e., Average diversification). The correlation of Patriot Battery 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.

Patriot Battery Correlation With Market

Good diversification

The correlation between Patriot Battery Metals and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Patriot Battery Metals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Patriot OTC Stock

0.61	RTNTF	Rio Tinto Group	Pair Corr
0.64	BHP	BHP Group Limited	Pair Corr
0.79	GLCNF	Glencore PLC	Pair Corr
0.7	GLNCY	Glencore PLC ADR	Pair Corr

Moving against Patriot OTC Stock

0.76	AXON	Axon Enterprise	Pair Corr
0.71	IONQ	IONQ Inc	Pair Corr
0.71	NDAQ	Nasdaq Inc	Pair Corr
0.68	CHH	Choice Hotels Intern	Pair Corr
0.64	CQP	Cheniere Energy Partners	Pair Corr
0.48	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.42	VRT	Vertiv Holdings	Pair Corr
0.4	NVDA	NVIDIA	Pair Corr
0.39	APLD	Applied Blockchain	Pair Corr
0.37	PGHL	Primega Group Holdings Trending	Pair Corr
0.33	PDYN	Palladyne AI Corp Symbol Change	Pair Corr

Related Correlations Analysis

	HANNF	ADBRF	LEMIF	ATMGF	REZZF	HECOF	NVSGF	NRGYF	ALTAF	LITOF
HANNF		-0.7	0.5	0.37	-0.22	0.54	0.07	-0.85	0.06	0.7	HANNF
ADBRF	-0.7		-0.66	-0.42	0.37	-0.7	-0.13	0.87	-0.27	-0.92	ADBRF
LEMIF	0.5	-0.66		0.27	-0.08	0.42	0.08	-0.59	0.24	0.65	LEMIF
ATMGF	0.37	-0.42	0.27		-0.23	0.26	0.14	-0.41	-0.15	0.51	ATMGF
REZZF	-0.22	0.37	-0.08	-0.23		-0.17	-0.19	0.28	0.02	-0.33	REZZF
HECOF	0.54	-0.7	0.42	0.26	-0.17		0.14	-0.64	0.36	0.61	HECOF
NVSGF	0.07	-0.13	0.08	0.14	-0.19	0.14		-0.09	-0.04	0.14	NVSGF
NRGYF	-0.85	0.87	-0.59	-0.41	0.28	-0.64	-0.09		-0.27	-0.83	NRGYF
ALTAF	0.06	-0.27	0.24	-0.15	0.02	0.36	-0.04	-0.27		0.23	ALTAF
LITOF	0.7	-0.92	0.65	0.51	-0.33	0.61	0.14	-0.83	0.23		LITOF
	HANNF	ADBRF	LEMIF	ATMGF	REZZF	HECOF	NVSGF	NRGYF	ALTAF	LITOF

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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

NRGYF	+ 0.87	ADBRF
LITOF	+ 0.7	HANNF
LITOF	+ 0.65	LEMIF
LITOF	+ 0.61	HECOF
HECOF	+ 0.54	HANNF
LITOF	+ 0.51	ATMGF

High negative correlations

LITOF	- 0.92	ADBRF
NRGYF	- 0.85	HANNF
LITOF	- 0.83	NRGYF
HECOF	- 0.7	ADBRF
ADBRF	- 0.7	HANNF
LEMIF	- 0.66	ADBRF

Risk-Adjusted Indicators

There is a big difference between Patriot OTC Stock performing well and Patriot Battery 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 Patriot Battery'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
HANNF	3.37	(0.06)	(0.02)	0.03	4.21	(4.17)	7.69	(8.82)	21.67
ADBRF	3.23	1.01	0.31	0.51	2.14	(4.98)	9.09	(4.17)	23.85
LEMIF	4.27	(0.09)	0.00	0.16	0.00	0.00	12.03	(11.39)	29.31
ATMGF	11.33	1.11	0.04	(0.94)	13.39	(19.10)	30.68	(29.33)	86.71
REZZF	9.00	1.11	0.09	7.83	9.68	(12.22)	20.00	(14.20)	99.50
HECOF	10.73	0.01	0.01	0.13	13.46	(11.69)	20.21	(22.12)	63.46
NVSGF	4.88	0.44	0.00	(0.09)	9.75	(39.25)	3.00	(13.04)	150.00
NRGYF	6.90	3.40	0.00	2.86	0.00	0.00	0.00	0.00	198.88
ALTAF	36.77	13.85	0.20	(2.39)	21.11	(242.98)	10.50	(65.52)	1,084
LITOF	2.59	(0.40)	0.00	10.10	0.00	0.00	5.88	(5.13)	24.15

Be your own money manager

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