Brookside Energy Correlations

RDFEF Stock

USD 0.32 0.05 18.52%

The current 90-days correlation between Brookside Energy and AMEN Properties is -0.09 (i.e., Good diversification). The correlation of Brookside Energy 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.

Brookside Energy Correlation With Market

Significant diversification

The correlation between Brookside Energy and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brookside Energy and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Brookside Pink Sheet

0.72	COP	ConocoPhillips	Pair Corr
0.77	PPERF	Bank Mandiri Persero	Pair Corr
0.64	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.68	FTV	Fortive Corp	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.77	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.62	MRK	Merck Company	Pair Corr

Moving against Brookside Pink Sheet

0.63	MSFT	Microsoft	Pair Corr
0.44	PTAIF	PT Astra International	Pair Corr
0.37	BKRKY	Bank Rakyat	Pair Corr
0.46	HD	Home Depot	Pair Corr
0.43	GE	GE Aerospace	Pair Corr
0.38	CVX	Chevron Corp	Pair Corr
0.34	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	AMEN	RSRV	WLTNF	JROOF	ELXPF	DMEHF	PTVRF	PRPRF	FARYF	ADXRF
AMEN		0.31	0.08	-0.02	0.0	-0.1	0.0	0.18	0.35	-0.09	AMEN
RSRV	0.31		-0.43	-0.52	0.0	-0.53	0.0	0.2	-0.01	-0.03	RSRV
WLTNF	0.08	-0.43		0.74	0.0	0.68	0.0	-0.32	0.19	0.23	WLTNF
JROOF	-0.02	-0.52	0.74		0.0	0.91	0.0	-0.39	-0.09	0.24	JROOF
ELXPF	0.0	0.0	0.0	0.0		0.0	-1.0	0.0	0.0	0.0	ELXPF
DMEHF	-0.1	-0.53	0.68	0.91	0.0		0.0	-0.33	-0.11	0.21	DMEHF
PTVRF	0.0	0.0	0.0	0.0	-1.0	0.0		0.0	0.0	0.0	PTVRF
PRPRF	0.18	0.2	-0.32	-0.39	0.0	-0.33	0.0		0.27	0.23	PRPRF
FARYF	0.35	-0.01	0.19	-0.09	0.0	-0.11	0.0	0.27		-0.23	FARYF
ADXRF	-0.09	-0.03	0.23	0.24	0.0	0.21	0.0	0.23	-0.23		ADXRF
	AMEN	RSRV	WLTNF	JROOF	ELXPF	DMEHF	PTVRF	PRPRF	FARYF	ADXRF

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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

DMEHF	+ 0.91	JROOF
JROOF	+ 0.74	WLTNF
DMEHF	+ 0.68	WLTNF
FARYF	+ 0.35	AMEN
RSRV	+ 0.31	AMEN
FARYF	+ 0.27	PRPRF

High negative correlations

PTVRF	- 1.0	ELXPF
DMEHF	- 0.53	RSRV
JROOF	- 0.52	RSRV
WLTNF	- 0.43	RSRV
PRPRF	- 0.39	JROOF
PRPRF	- 0.33	DMEHF

Risk-Adjusted Indicators

There is a big difference between Brookside Pink Sheet performing well and Brookside Energy 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 Brookside Energy'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
AMEN	1.30	(0.13)	0.00	(0.40)	0.00	0.00	2.00	(3.96)	9.85
RSRV	1.36	0.05	0.00	0.17	1.89	(3.53)	5.61	(4.84)	13.56
WLTNF	1.93	(0.99)	0.00	0.98	0.00	0.00	0.00	(13.33)	19.05
JROOF	5.40	(0.50)	0.00	(0.31)	0.00	0.00	16.10	(9.09)	52.98
ELXPF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DMEHF	5.16	(0.26)	0.00	(0.06)	0.00	0.00	13.04	(12.50)	32.47
PTVRF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRPRF	98.52	53.52	2.88	(0.83)	7.94	(247.92)	22.70	(20.99)	3,286
FARYF	0.88	0.04	0.00	0.21	0.00	0.00	0.00	0.00	21.43
ADXRF	7.40	1.98	0.00	(0.88)	0.00	0.00	50.00	(13.33)	117.14

Be your own money manager

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