Touchstone Exploration Correlations

TXP Stock

CAD 0.18 0.01 5.26%

The current 90-days correlation between Touchstone Exploration and Africa Energy Corp is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Touchstone Exploration moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Touchstone Exploration moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Touchstone Exploration Correlation With Market

Weak diversification

The correlation between Touchstone Exploration and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Exploration and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Touchstone Stock

0.7	SAGE	Sage Potash Corp	Pair Corr
0.72	GSTM	Goldstorm Metals Corp	Pair Corr
0.79	VYC-H	Vanity Capital	Pair Corr

Moving against Touchstone Stock

0.76	ENS	E Split Corp	Pair Corr
0.57	ENB-PFV	Enbridge Pref 5	Pair Corr
0.49	KTO	K2 Gold	Pair Corr
0.37	ENB-PFC	Enbridge Pref 11	Pair Corr
0.36	AX-UN	Artis Real Estate	Pair Corr

Related Correlations Analysis

	AFE	AXL	NSE	ORC-B	OYL	ROK	EOG	PUR
AFE		0.15	0.4	0.22	-0.25	-0.2	0.13	0.1	AFE
AXL	0.15		0.45	0.58	-0.51	-0.32	0.79	-0.13	AXL
NSE	0.4	0.45		0.14	-0.17	-0.66	0.6	0.14	NSE
ORC-B	0.22	0.58	0.14		-0.14	-0.09	0.52	0.05	ORC-B
OYL	-0.25	-0.51	-0.17	-0.14		-0.09	-0.44	0.51	OYL
ROK	-0.2	-0.32	-0.66	-0.09	-0.09		-0.61	-0.48	ROK
EOG	0.13	0.79	0.6	0.52	-0.44	-0.61		-0.02	EOG
PUR	0.1	-0.13	0.14	0.05	0.51	-0.48	-0.02		PUR
	AFE	AXL	NSE	ORC-B	OYL	ROK	EOG	PUR

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

EOG	+ 0.79	AXL
EOG	+ 0.6	NSE
ORC-B	+ 0.58	AXL
EOG	+ 0.52	ORC-B
PUR	+ 0.51	OYL
NSE	+ 0.45	AXL

High negative correlations

ROK	- 0.66	NSE
EOG	- 0.61	ROK
OYL	- 0.51	AXL
PUR	- 0.48	ROK
EOG	- 0.44	OYL
ROK	- 0.32	AXL

Risk-Adjusted Indicators

There is a big difference between Touchstone Stock performing well and Touchstone Exploration 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 Touchstone Exploration'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
AFE	4.38	0.37	0.03	(1.33)	4.75	(13.49)	18.18	(8.33)	33.57
AXL	2.78	0.12	0.05	0.14	2.64	(4.91)	5.00	(4.55)	13.09
NSE	3.03	0.61	0.11	(2.22)	2.87	(4.77)	7.14	(4.65)	29.05
ORC-B	1.51	(0.03)	0.00	0.37	0.00	0.00	2.99	(4.38)	14.81
OYL	4.36	(0.02)	(0.01)	(0.04)	4.72	(9.60)	12.50	(7.14)	35.58
ROK	1.06	(0.05)	0.00	0.20	0.00	0.00	4.55	(4.35)	26.28
EOG	5.94	2.47	0.24	(5.77)	3.64	(14.67)	21.21	(8.57)	64.04
PUR	4.85	(0.04)	0.00	0.06	5.08	(6.26)	11.11	(8.11)	24.29

Be your own money manager

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