Tower Resources Correlations
| TWRFF Stock | USD 0.09 0 1.62% |
The correlation of Tower 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.
Tower Resources Correlation With Market
Good diversification
The correlation between Tower Resources and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tower Resources and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Tower 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 Tower 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 Tower 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 Tower Resources to buy it.
Moving together with Tower Pink Sheet
| 0.65 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.68 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.66 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.63 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.69 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.62 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.65 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.68 | WMT | Walmart Aggressive Push | PairCorr |
Moving against Tower Pink Sheet
| 0.81 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.76 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.72 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.49 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.39 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
| 0.38 | VZ | Verizon Communications Sell-off Trend | PairCorr |
Related Correlations Analysis
| -0.79 | 0.81 | 0.65 | 0.03 | 0.64 | T | ||
| -0.79 | -0.77 | -0.64 | 0.35 | -0.83 | MRK | ||
| 0.81 | -0.77 | 0.58 | 0.2 | 0.86 | DIS | ||
| 0.65 | -0.64 | 0.58 | -0.31 | 0.52 | CAT | ||
| 0.03 | 0.35 | 0.2 | -0.31 | -0.03 | PG | ||
| 0.64 | -0.83 | 0.86 | 0.52 | -0.03 | JPM | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Tower Pink Sheet performing well and Tower 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 Tower 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| T | 0.92 | 0.26 | 0.12 | (7.83) | 0.86 | 2.56 | 6.47 | |||
| MRK | 0.91 | (0.24) | 0.00 | (0.86) | 0.00 | 2.00 | 4.89 | |||
| DIS | 0.97 | 0.34 | 0.28 | 0.73 | 0.48 | 2.34 | 7.57 | |||
| CAT | 1.32 | 0.01 | 0.07 | 0.13 | 1.35 | 3.36 | 12.38 | |||
| PG | 0.72 | 0.10 | (0.04) | (1.05) | 0.77 | 1.74 | 4.66 | |||
| JPM | 1.12 | (0.04) | 0.05 | 0.11 | 1.38 | 2.05 | 15.87 |
Be your own money manager
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Tower Resources Corporate Management
| Nazim Sljivji | Ex Officer | Profile | |
| Darrell Hyde | Exploration Mang | Profile | |
| PEng MSc | Technical Advisor | Profile | |
| Leah Hodges | Corporate Secretary | Profile |