ROK Resources Correlations

ROK Stock

CAD 0.18 0.01 5.88%

The current 90-days correlation between ROK Resources and InPlay Oil Corp is 0.28 (i.e., Modest diversification). The correlation of ROK 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.

ROK Resources Correlation With Market

Average diversification

The correlation between ROK Resources and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ROK Resources and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ROK 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 ROK 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 ROK 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 ROK Resources to buy it.

Moving against ROK Stock

0.74	FFH	Fairfax Financial	Pair Corr
0.73	ENS	E Split Corp	Pair Corr
0.69	FFH-PC	Fairfax Fin Hld	Pair Corr
0.66	ENS-PA	E Split Corp	Pair Corr
0.65	ENB-PFV	Enbridge Pref 5	Pair Corr
0.63	ELF	E L Financial	Pair Corr
0.45	FFH-PF	Fairfax Financial	Pair Corr
0.44	FFH-PH	Fairfax Financial	Pair Corr
0.41	FFH-PE	Fairfax Financial	Pair Corr
0.35	PIC-A	Premium Income Split	Pair Corr
0.33	ENB-PFU	Enbridge Pref L	Pair Corr

Related Correlations Analysis

	IPO	YGR	XHB	ALA-PA	ERE-UN	RUDB	XEG	SOLI-P	FLSA	EMNT
IPO		0.83	-0.74	0.58	-0.76	-0.84	0.05	0.0	-0.8	-0.51	IPO
YGR	0.83		-0.71	0.56	-0.68	-0.71	0.17	0.0	-0.58	-0.34	YGR
XHB	-0.74	-0.71		-0.67	0.82	0.73	-0.19	0.0	0.66	0.42	XHB
ALA-PA	0.58	0.56	-0.67		-0.6	-0.61	-0.09	0.0	-0.63	-0.63	ALA-PA
ERE-UN	-0.76	-0.68	0.82	-0.6		0.71	0.21	0.0	0.81	0.36	ERE-UN
RUDB	-0.84	-0.71	0.73	-0.61	0.71		0.15	0.0	0.87	0.74	RUDB
XEG	0.05	0.17	-0.19	-0.09	0.21	0.15		0.0	0.43	0.23	XEG
SOLI-P	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	SOLI-P
FLSA	-0.8	-0.58	0.66	-0.63	0.81	0.87	0.43	0.0		0.69	FLSA
EMNT	-0.51	-0.34	0.42	-0.63	0.36	0.74	0.23	0.0	0.69		EMNT
	IPO	YGR	XHB	ALA-PA	ERE-UN	RUDB	XEG	SOLI-P	FLSA	EMNT

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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

FLSA	+ 0.87	RUDB
YGR	+ 0.83	IPO
ERE-UN	+ 0.82	XHB
FLSA	+ 0.81	ERE-UN
EMNT	+ 0.74	RUDB
RUDB	+ 0.73	XHB

High negative correlations

RUDB	- 0.84	IPO
FLSA	- 0.8	IPO
ERE-UN	- 0.76	IPO
XHB	- 0.74	IPO
RUDB	- 0.71	YGR
XHB	- 0.71	YGR

Risk-Adjusted Indicators

There is a big difference between ROK Stock performing well and ROK 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 ROK 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
IPO	1.51	(0.27)	0.00	(0.64)	0.00	0.00	3.45	(3.76)	8.86
YGR	1.63	(0.17)	0.00	(0.26)	0.00	0.00	3.19	(2.91)	8.68
XHB	0.19	0.01	(0.49)	(0.22)	0.13	(0.24)	0.41	(0.31)	1.07
ALA-PA	0.51	0.01	(0.17)	0.06	0.67	(0.60)	1.15	(1.45)	3.73
ERE-UN	1.45	0.54	0.30	(3.38)	0.72	(1.99)	3.95	(1.48)	20.23
RUDB	0.24	0.01	(0.21)	0.29	0.34	(0.25)	0.58	(0.62)	1.96
XEG	1.17	0.00	(0.04)	0.13	1.64	(1.13)	2.20	(2.34)	8.20
SOLI-P	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLSA	0.42	0.05	(0.07)	0.27	0.32	(0.49)	0.95	(0.85)	2.60
EMNT	3.50	0.30	0.02	(0.30)	3.75	(6.65)	10.71	(6.90)	26.79

Be your own money manager

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