Spruce Ridge Correlations

SRCGF Stock

USD 0.23 0.02 9.52%

The current 90-days correlation between Spruce Ridge Resources and Benton Resources is -0.03 (i.e., Good diversification). The correlation of Spruce Ridge 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.

Spruce Ridge Correlation With Market

Significant diversification

The correlation between Spruce Ridge Resources and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spruce Ridge Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Spruce OTC Stock

0.51	AXP	American Express	Pair Corr
0.42	IBM	International Business	Pair Corr
0.39	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.32	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	BNTRF	TIGCF	WLFFF	STLNF	TRBMF	DAUGF	NICOF	PUBC	FXRVF	SXOOF
BNTRF		0.36	0.04	-0.32	-0.19	0.42	-0.25	-0.46	0.35	0.05	BNTRF
TIGCF	0.36		-0.05	-0.61	-0.32	0.42	-0.75	-0.68	0.53	-0.41	TIGCF
WLFFF	0.04	-0.05		0.09	0.33	0.03	0.18	-0.07	-0.04	0.24	WLFFF
STLNF	-0.32	-0.61	0.09		0.46	-0.4	0.64	0.47	-0.59	0.35	STLNF
TRBMF	-0.19	-0.32	0.33	0.46		-0.16	0.36	0.19	-0.29	0.48	TRBMF
DAUGF	0.42	0.42	0.03	-0.4	-0.16		-0.22	-0.52	0.66	0.09	DAUGF
NICOF	-0.25	-0.75	0.18	0.64	0.36	-0.22		0.47	-0.42	0.48	NICOF
PUBC	-0.46	-0.68	-0.07	0.47	0.19	-0.52	0.47		-0.57	0.08	PUBC
FXRVF	0.35	0.53	-0.04	-0.59	-0.29	0.66	-0.42	-0.57		-0.1	FXRVF
SXOOF	0.05	-0.41	0.24	0.35	0.48	0.09	0.48	0.08	-0.1		SXOOF
	BNTRF	TIGCF	WLFFF	STLNF	TRBMF	DAUGF	NICOF	PUBC	FXRVF	SXOOF

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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

FXRVF	+ 0.66	DAUGF
NICOF	+ 0.64	STLNF
FXRVF	+ 0.53	TIGCF
SXOOF	+ 0.48	TRBMF
SXOOF	+ 0.48	NICOF
PUBC	+ 0.47	STLNF

High negative correlations

NICOF	- 0.75	TIGCF
PUBC	- 0.68	TIGCF
STLNF	- 0.61	TIGCF
FXRVF	- 0.59	STLNF
FXRVF	- 0.57	PUBC
PUBC	- 0.52	DAUGF

Risk-Adjusted Indicators

There is a big difference between Spruce OTC Stock performing well and Spruce Ridge 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 Spruce Ridge'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
BNTRF	14.77	1.65	0.09	0.35	16.42	(20.50)	46.67	(34.46)	106.92
TIGCF	6.30	1.58	0.22	1.80	5.24	(9.67)	15.79	(10.20)	43.97
WLFFF	11.57	2.50	0.09	(5.28)	12.59	(42.94)	33.78	(16.67)	145.18
STLNF	4.45	(0.25)	0.00	(0.06)	0.00	0.00	11.11	(7.69)	45.85
TRBMF	3.70	(0.20)	0.00	(0.74)	0.00	0.00	10.14	(7.21)	26.85
DAUGF	3.08	0.44	0.04	0.53	4.21	(16.97)	7.89	(6.45)	57.92
NICOF	2.85	(0.59)	0.00	(0.15)	0.00	0.00	1.67	0.00	73.81
PUBC	11.28	0.47	0.02	0.66	12.90	(19.67)	32.00	(27.08)	104.17
FXRVF	0.97	0.53	0.00	(1.23)	0.00	0.00	0.00	0.00	16.67
SXOOF	3.49	0.04	(0.02)	(0.04)	3.92	(4.93)	8.33	(7.50)	24.81

Be your own money manager

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