United Lithium Correlations

ULTHF Stock

USD 0.13 0.03 30.00%

The current 90-days correlation between United Lithium Corp and Alpha Copper Corp is -0.11 (i.e., Good diversification). The correlation of United Lithium 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.

United Lithium Correlation With Market

Significant diversification

The correlation between United Lithium Corp and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United Lithium Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against United OTC Stock

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0.49	APLD	Applied Blockchain Trending	Pair Corr
0.49	ZM	Zoom Video Communications Earnings Call This Week	Pair Corr
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Related Correlations Analysis

	APHLF	ALCUF	RFLXF	HECOF	ZZZOF	RIGMF	SYHBF	USGOW	ARRNF	SCVFF
APHLF		-0.81	-0.3	-0.29	-0.72	-0.65	0.78	0.78	0.05	-0.61	APHLF
ALCUF	-0.81		0.35	0.44	0.65	0.49	-0.55	-0.64	0.05	0.6	ALCUF
RFLXF	-0.3	0.35		0.31	0.05	-0.05	-0.02	-0.19	0.38	0.24	RFLXF
HECOF	-0.29	0.44	0.31		0.27	0.27	-0.02	-0.22	0.43	0.28	HECOF
ZZZOF	-0.72	0.65	0.05	0.27		0.69	-0.59	-0.47	-0.15	0.46	ZZZOF
RIGMF	-0.65	0.49	-0.05	0.27	0.69		-0.53	-0.46	-0.08	0.42	RIGMF
SYHBF	0.78	-0.55	-0.02	-0.02	-0.59	-0.53		0.64	0.37	-0.4	SYHBF
USGOW	0.78	-0.64	-0.19	-0.22	-0.47	-0.46	0.64		0.12	-0.52	USGOW
ARRNF	0.05	0.05	0.38	0.43	-0.15	-0.08	0.37	0.12		-0.05	ARRNF
SCVFF	-0.61	0.6	0.24	0.28	0.46	0.42	-0.4	-0.52	-0.05		SCVFF
	APHLF	ALCUF	RFLXF	HECOF	ZZZOF	RIGMF	SYHBF	USGOW	ARRNF	SCVFF

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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

SYHBF	+ 0.78	APHLF
USGOW	+ 0.78	APHLF
RIGMF	+ 0.69	ZZZOF
ZZZOF	+ 0.65	ALCUF
USGOW	+ 0.64	SYHBF
SCVFF	+ 0.6	ALCUF

High negative correlations

ALCUF	- 0.81	APHLF
ZZZOF	- 0.72	APHLF
RIGMF	- 0.65	APHLF
USGOW	- 0.64	ALCUF
SCVFF	- 0.61	APHLF
SYHBF	- 0.59	ZZZOF

Risk-Adjusted Indicators

There is a big difference between United OTC Stock performing well and United Lithium 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 United Lithium'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
APHLF	2.09	0.70	0.25	9.29	1.53	(3.17)	7.53	(2.78)	23.05
ALCUF	6.12	(0.34)	0.00	0.59	0.00	0.00	10.00	(14.29)	42.38
RFLXF	15.75	1.26	0.09	0.39	15.26	(22.61)	35.46	(24.76)	110.45
HECOF	10.97	0.85	0.03	(0.25)	13.07	(12.26)	20.48	(22.12)	63.46
ZZZOF	0.67	(0.19)	0.00	(0.24)	0.00	0.00	0.00	0.00	22.22
RIGMF	6.37	0.15	0.01	0.27	8.57	(15.30)	22.42	(19.91)	53.71
SYHBF	3.25	0.40	0.07	1.24	3.05	(5.32)	8.00	(6.25)	17.01
USGOW	13.16	3.30	0.21	(182.16)	11.44	(18.57)	40.44	(22.90)	67.90
ARRNF	2.53	(0.06)	0.00	0.28	0.00	0.00	5.56	(5.26)	16.67
SCVFF	10.87	0.96	0.07	2.16	11.13	(15.95)	27.06	(19.05)	67.29

Be your own money manager

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