Trilogy Metals Correlations

TMQ Stock

CAD 8.92 0.41 4.82%

The current 90-days correlation between Trilogy Metals and Standard Lithium is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Trilogy Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Trilogy Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Trilogy Metals Correlation With Market

Very weak diversification

The correlation between Trilogy Metals and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trilogy Metals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Trilogy Stock

0.9	AG	First Majestic Silver	Pair Corr
0.89	IE	Ivanhoe Energy	Pair Corr
0.89	ORE	Orezone Gold Corp	Pair Corr
0.84	FDY	Faraday Copper Corp	Pair Corr
0.77	BNP	BNP Paribas CDR	Pair Corr
0.65	RY	Royal Bank	Pair Corr
0.73	TD	Toronto Dominion Bank	Pair Corr
0.84	BMO	Bank of Montreal	Pair Corr
0.62	TD-PFI	Toronto Dominion Bank	Pair Corr

Moving against Trilogy Stock

0.59

BRK

Berkshire Hathaway CDR

Pair Corr

Related Correlations Analysis

	SLI	MDI	GTWO	SGML	ABRA	ARA	RBX	APM	UCU	GAU
SLI		0.86	0.75	0.9	0.9	0.23	0.78	0.88	0.14	0.75	SLI
MDI	0.86		0.79	0.75	0.9	0.52	0.83	0.83	0.46	0.85	MDI
GTWO	0.75	0.79		0.85	0.85	0.38	0.92	0.79	0.33	0.83	GTWO
SGML	0.9	0.75	0.85		0.86	0.06	0.76	0.81	-0.01	0.66	SGML
ABRA	0.9	0.9	0.85	0.86		0.31	0.86	0.96	0.3	0.84	ABRA
ARA	0.23	0.52	0.38	0.06	0.31		0.58	0.2	0.85	0.65	ARA
RBX	0.78	0.83	0.92	0.76	0.86	0.58		0.79	0.49	0.94	RBX
APM	0.88	0.83	0.79	0.81	0.96	0.2	0.79		0.2	0.78	APM
UCU	0.14	0.46	0.33	-0.01	0.3	0.85	0.49	0.2		0.57	UCU
GAU	0.75	0.85	0.83	0.66	0.84	0.65	0.94	0.78	0.57		GAU
	SLI	MDI	GTWO	SGML	ABRA	ARA	RBX	APM	UCU	GAU

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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

APM	+ 0.96	ABRA
GAU	+ 0.94	RBX
RBX	+ 0.92	GTWO
SGML	+ 0.9	SLI
ABRA	+ 0.9	SLI
ABRA	+ 0.9	MDI

High negative correlations

UCU

- 0.01

SGML

Risk-Adjusted Indicators

There is a big difference between Trilogy Stock performing well and Trilogy Metals 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 Trilogy Metals' 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
SLI	3.75	0.56	0.11	34.78	4.05	(4.19)	8.57	(6.96)	16.63
MDI	2.09	0.37	0.15	0.74	1.97	(2.73)	4.39	(3.67)	9.60
GTWO	2.59	0.97	0.39	0.91	1.72	(3.07)	6.43	(3.49)	17.64
SGML	6.46	1.99	0.22	(0.63)	6.57	(7.09)	15.96	(12.62)	51.69
ABRA	3.45	1.14	0.35	1.04	2.72	(4.23)	7.65	(5.03)	21.22
ARA	4.41	0.29	0.07	0.27	4.12	(5.65)	12.54	(7.59)	22.92
RBX	2.72	0.62	0.14	1.63	3.34	(2.89)	6.04	(5.05)	14.94
APM	3.44	0.95	0.24	0.90	3.38	(4.10)	8.04	(6.43)	24.02
UCU	6.00	0.70	0.10	(6.74)	5.98	(7.33)	10.98	(9.97)	33.95
GAU	2.91	0.32	0.08	0.32	3.57	(3.04)	7.03	(4.64)	19.03

Be your own money manager

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