Sprott Correlations

SII Stock

CAD 146.85 3.71 2.59%

The current 90-days correlation between Sprott Inc and Brookfield Business Corp is 0.32 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sprott moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Inc moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sprott Correlation With Market

Weak diversification

The correlation between Sprott Inc and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Inc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sprott Stock

0.71	FFH	Fairfax Financial	Pair Corr
0.7	FNV	Franco Nevada	Pair Corr
0.66	IFC	Intact Financial	Pair Corr
0.66	AEM	Agnico Eagle Mines	Pair Corr
0.69	ENB-PFU	Enbridge Pref L	Pair Corr
0.86	KTO	K2 Gold	Pair Corr
0.73	VM	Voyageur Pharmaceuticals	Pair Corr
0.89	AX-UN	Artis Real Estate	Pair Corr

Moving against Sprott Stock

0.6	CSU	Constellation Software	Pair Corr
0.48	WSP	WSP Global	Pair Corr

Related Correlations Analysis

	BBUC	GCG-A	GSY	GCG	CYB	BITF	UNC	EQB	AGF-B
BBUC		-0.01	0.46	0.12	0.56	0.41	0.14	0.37	0.25	BBUC
GCG-A	-0.01		-0.66	0.82	0.29	-0.75	0.65	0.55	0.74	GCG-A
GSY	0.46	-0.66		-0.63	0.05	0.79	-0.2	-0.2	-0.35	GSY
GCG	0.12	0.82	-0.63		0.32	-0.66	0.5	0.51	0.65	GCG
CYB	0.56	0.29	0.05	0.32		-0.06	0.48	0.71	0.61	CYB
BITF	0.41	-0.75	0.79	-0.66	-0.06		-0.46	-0.41	-0.57	BITF
UNC	0.14	0.65	-0.2	0.5	0.48	-0.46		0.59	0.71	UNC
EQB	0.37	0.55	-0.2	0.51	0.71	-0.41	0.59		0.93	EQB
AGF-B	0.25	0.74	-0.35	0.65	0.61	-0.57	0.71	0.93		AGF-B
	BBUC	GCG-A	GSY	GCG	CYB	BITF	UNC	EQB	AGF-B

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

AGF-B	+ 0.93	EQB
GCG	+ 0.82	GCG-A
BITF	+ 0.79	GSY
AGF-B	+ 0.74	GCG-A
EQB	+ 0.71	CYB
AGF-B	+ 0.71	UNC

High negative correlations

BITF	- 0.75	GCG-A
BITF	- 0.66	GCG
GSY	- 0.66	GCG-A
GCG	- 0.63	GSY
AGF-B	- 0.57	BITF
UNC	- 0.46	BITF

Risk-Adjusted Indicators

There is a big difference between Sprott Stock performing well and Sprott 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 Sprott'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
BBUC	2.05	(0.02)	(0.01)	0.06	2.81	(2.18)	3.44	(3.97)	19.82
GCG-A	0.10	0.01	(0.56)	(0.16)	0.00	(0.12)	0.24	(0.21)	0.65
GSY	1.83	(0.31)	0.00	(0.18)	0.00	0.00	2.94	(3.53)	19.36
GCG	0.13	0.00	(0.25)	0.15	0.11	(0.21)	0.30	(0.30)	2.57
CYB	0.83	0.04	(0.03)	0.40	0.96	(0.98)	1.73	(1.81)	4.85
BITF	5.78	(0.19)	(0.01)	0.00	6.45	(7.65)	11.86	(10.11)	59.53
UNC	0.68	(0.01)	(0.06)	0.07	0.70	(1.06)	2.18	(1.48)	4.51
EQB	1.00	0.14	0.10	0.43	0.72	(1.36)	1.99	(1.39)	14.60
AGF-B	1.09	0.19	0.10	0.46	1.29	(1.10)	2.72	(2.35)	7.88

Be your own money manager

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