Volcan Correlations

P98047AC0

61.80 30.70 33.19%

The current 90-days correlation between Volcan Compania Minera and AEP TEX INC is -0.25 (i.e., Very good diversification). The correlation of Volcan 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.

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

Moving against Volcan Bond

0.42	BZUSD	Brent Crude Oil	Pair Corr
0.37	EIC	Eagle Pointome	Pair Corr
0.32	JBL	Jabil Circuit	Pair Corr
0.31	ITCI	Intracellular Th Trending	Pair Corr
0.32	IVES	Amplify ETF Trust Symbol Change	Pair Corr

Related Correlations Analysis

	00108WAF7	90331HPL1	BMO	TNXP	BRID	EAWD	VLRS	GTLB	BLSP	AHR
00108WAF7		-0.01	0.1	-0.06	0.0	-0.05	0.1	0.13	-0.16	0.05	00108WAF7
90331HPL1	-0.01		-0.16	-0.01	-0.28	-0.36	-0.08	-0.03	0.16	-0.06	90331HPL1
BMO	0.1	-0.16		0.45	0.76	0.2	0.76	0.56	-0.46	0.7	BMO
TNXP	-0.06	-0.01	0.45		0.76	0.5	0.27	-0.04	-0.36	0.37	TNXP
BRID	0.0	-0.28	0.76	0.76		0.54	0.47	0.14	-0.53	0.56	BRID
EAWD	-0.05	-0.36	0.2	0.5	0.54		0.0	-0.34	-0.24	-0.07	EAWD
VLRS	0.1	-0.08	0.76	0.27	0.47	0.0		0.64	-0.54	0.66	VLRS
GTLB	0.13	-0.03	0.56	-0.04	0.14	-0.34	0.64		-0.37	0.71	GTLB
BLSP	-0.16	0.16	-0.46	-0.36	-0.53	-0.24	-0.54	-0.37		-0.53	BLSP
AHR	0.05	-0.06	0.7	0.37	0.56	-0.07	0.66	0.71	-0.53		AHR
	00108WAF7	90331HPL1	BMO	TNXP	BRID	EAWD	VLRS	GTLB	BLSP	AHR

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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

BRID	+ 0.76	BMO
VLRS	+ 0.76	BMO
BRID	+ 0.76	TNXP
AHR	+ 0.71	GTLB
AHR	+ 0.7	BMO
AHR	+ 0.66	VLRS

High negative correlations

BLSP	- 0.54	VLRS
AHR	- 0.53	BLSP
BLSP	- 0.53	BRID
BLSP	- 0.46	BMO
BLSP	- 0.37	GTLB
BLSP	- 0.36	TNXP

Risk-Adjusted Indicators

There is a big difference between Volcan Bond performing well and Volcan Corporate Bond 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 Volcan'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
00108WAF7	1.46	0.11	0.05	0.38	1.81	(1.72)	5.71	(2.57)	15.01
90331HPL1	0.47	(0.02)	0.00	0.22	0.00	0.00	1.64	(1.87)	7.59
BMO	0.71	0.10	0.10	0.63	0.70	(0.89)	1.62	(1.35)	7.04
TNXP	9.11	1.97	0.15	1.02	8.93	(17.04)	18.75	(11.54)	158.57
BRID	1.57	0.23	0.11	0.88	1.72	(1.86)	4.28	(3.17)	10.57
EAWD	14.47	2.08	0.13	(2.31)	14.08	(19.75)	40.00	(27.27)	83.33
VLRS	1.60	0.41	0.23	(1.86)	1.31	(1.89)	4.46	(2.62)	9.30
GTLB	2.08	0.23	0.09	0.62	2.19	(2.38)	6.03	(3.87)	14.44
BLSP	8.33	2.14	0.00	(9.02)	0.00	0.00	33.33	0.00	150.00
AHR	1.48	0.20	0.10	1.02	1.76	(1.53)	3.20	(2.79)	8.53

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