Western Exploration Correlations

WEXPF Stock

USD 0.49 0.01 2.08%

The current 90-days correlation between Western Exploration and Brixton Metals is -0.04 (i.e., Good diversification). The correlation of Western Exploration 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.

Western Exploration Correlation With Market

Modest diversification

The correlation between Western Exploration and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Western Exploration and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Western 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 Western 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 Western 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 Western Exploration to buy it.

Moving against Western OTC Stock

0.77	PPERY	Bank Mandiri Persero	Pair Corr
0.76	TLK	Telkom Indonesia Tbk	Pair Corr
0.64	PBCRY	Bank Central Asia	Pair Corr
0.5	PPERF	Bank Mandiri Persero	Pair Corr
0.48	TFPM	Triple Flag Precious	Pair Corr
0.46	PPTA	Perpetua Resources Corp	Pair Corr
0.35	PBCRF	PT Bank Central	Pair Corr
0.33	EXK	Endeavour Silver Corp Aggressive Push	Pair Corr
0.33	TLKMF	Telkom Indonesia Tbk	Pair Corr
0.32	BVN	Compania de Minas	Pair Corr
0.89	DNGFF	Dongfang ElectricLimited	Pair Corr
0.86	CSCO	Cisco Systems	Pair Corr
0.79	CM	Canadian Imperial Bank	Pair Corr
0.75	EGP	EastGroup Properties	Pair Corr
0.73	DGWR	Critic Clothing	Pair Corr
0.55	CALC	CalciMedica, Common Stock	Pair Corr
0.43	ALVLF	Big Ridge Gold	Pair Corr
0.32	HMDCF	HUTCHMED Limited	Pair Corr
0.87	KYOCF	Kyocera	Pair Corr
0.85	TGS	Transportadora de Gas	Pair Corr
0.77	EOLS	Evolus Inc	Pair Corr
0.76	LMND	Lemonade	Pair Corr
0.72	AAPL	Apple Inc	Pair Corr
0.71	FTI	TechnipFMC PLC	Pair Corr

Related Correlations Analysis

	ACRG	CPPMF	DNRSF	BBBXF	TLSMF	MRZLF	ESGLF	SBMCF	PVGDF	RGXTF
ACRG		0.63	0.6	-0.36	0.0	-0.19	-0.36	-0.37	-0.44	-0.49	ACRG
CPPMF	0.63		0.56	-0.24	0.0	0.0	-0.39	-0.04	-0.33	-0.11	CPPMF
DNRSF	0.6	0.56		-0.04	0.0	0.2	-0.35	-0.08	-0.51	-0.44	DNRSF
BBBXF	-0.36	-0.24	-0.04		0.0	0.08	0.33	0.65	-0.13	0.01	BBBXF
TLSMF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	TLSMF
MRZLF	-0.19	0.0	0.2	0.08	0.0		0.33	0.35	-0.03	-0.25	MRZLF
ESGLF	-0.36	-0.39	-0.35	0.33	0.0	0.33		0.4	0.22	0.14	ESGLF
SBMCF	-0.37	-0.04	-0.08	0.65	0.0	0.35	0.4		-0.07	0.31	SBMCF
PVGDF	-0.44	-0.33	-0.51	-0.13	0.0	-0.03	0.22	-0.07		0.43	PVGDF
RGXTF	-0.49	-0.11	-0.44	0.01	0.0	-0.25	0.14	0.31	0.43		RGXTF
	ACRG	CPPMF	DNRSF	BBBXF	TLSMF	MRZLF	ESGLF	SBMCF	PVGDF	RGXTF

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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

SBMCF	+ 0.65	BBBXF
CPPMF	+ 0.63	ACRG
DNRSF	+ 0.6	ACRG
DNRSF	+ 0.56	CPPMF
RGXTF	+ 0.43	PVGDF
SBMCF	+ 0.4	ESGLF

High negative correlations

PVGDF	- 0.51	DNRSF
RGXTF	- 0.49	ACRG
RGXTF	- 0.44	DNRSF
PVGDF	- 0.44	ACRG
ESGLF	- 0.39	CPPMF
SBMCF	- 0.37	ACRG

Risk-Adjusted Indicators

There is a big difference between Western OTC Stock performing well and Western Exploration 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 Western 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
ACRG	5.64	2.70	0.00	(0.49)	0.00	0.00	2.30	(0.99)	156.20
CPPMF	4.57	0.81	0.10	3.25	4.38	(8.42)	11.76	(10.53)	24.44
DNRSF	3.67	0.43	0.09	0.49	3.85	(4.96)	6.98	(5.56)	22.53
BBBXF	3.92	(0.49)	0.00	(0.30)	0.00	0.00	6.52	(10.29)	27.32
TLSMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MRZLF	2.41	0.10	0.01	0.83	2.99	(5.09)	6.45	(6.06)	22.88
ESGLF	7.09	0.78	0.06	(0.92)	7.27	(11.38)	22.09	(13.45)	51.43
SBMCF	3.38	(0.01)	0.01	0.06	3.58	(7.56)	10.53	(5.56)	29.95
PVGDF	4.09	0.27	0.01	(0.11)	4.71	(7.44)	11.11	(10.00)	30.95
RGXTF	16.64	3.56	0.15	(0.43)	14.38	(26.80)	37.89	(29.69)	241.10

Be your own money manager

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