Wallbridge Mining Correlations

WM Stock

CAD 0.11 0.01 8.33%

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

Wallbridge Mining Correlation With Market

Poor diversification

The correlation between Wallbridge Mining and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wallbridge Mining and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Wallbridge Stock

0.83	AG	First Majestic Silver	Pair Corr
0.82	IE	Ivanhoe Energy	Pair Corr
0.83	ORE	Orezone Gold Corp	Pair Corr
0.8	FDY	Faraday Copper Corp	Pair Corr
0.72	FNV	Franco Nevada	Pair Corr
0.7	AEM	Agnico Eagle Mines	Pair Corr
0.77	GUG	Gungnir Resources	Pair Corr

Moving against Wallbridge Stock

0.56	CSU	Constellation Software	Pair Corr
0.54	IFC	Intact Financial	Pair Corr
0.37	LAS-A	Lassonde Industries	Pair Corr

Related Correlations Analysis

	RCK	PGE	PLSR	AMC	NILI	CRE	SLR	ETL	NEXT	ZNG
RCK		0.38	0.77	0.46	0.15	0.83	0.61	0.9	0.77	0.22	RCK
PGE	0.38		0.67	0.5	0.64	0.37	0.61	0.47	0.39	0.7	PGE
PLSR	0.77	0.67		0.78	0.59	0.79	0.83	0.85	0.72	0.71	PLSR
AMC	0.46	0.5	0.78		0.78	0.64	0.79	0.6	0.41	0.79	AMC
NILI	0.15	0.64	0.59	0.78		0.21	0.67	0.27	0.18	0.93	NILI
CRE	0.83	0.37	0.79	0.64	0.21		0.65	0.92	0.74	0.32	CRE
SLR	0.61	0.61	0.83	0.79	0.67	0.65		0.71	0.59	0.72	SLR
ETL	0.9	0.47	0.85	0.6	0.27	0.92	0.71		0.88	0.37	ETL
NEXT	0.77	0.39	0.72	0.41	0.18	0.74	0.59	0.88		0.28	NEXT
ZNG	0.22	0.7	0.71	0.79	0.93	0.32	0.72	0.37	0.28		ZNG
	RCK	PGE	PLSR	AMC	NILI	CRE	SLR	ETL	NEXT	ZNG

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Risk-Adjusted Indicators

There is a big difference between Wallbridge Stock performing well and Wallbridge Mining 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 Wallbridge Mining'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
RCK	3.36	0.33	0.07	(2.50)	3.29	(4.59)	7.89	(5.62)	21.88
PGE	5.38	0.58	0.07	0.74	6.47	(6.96)	12.50	(10.81)	36.80
PLSR	5.35	1.28	0.24	(0.43)	4.02	(8.55)	17.65	(7.41)	39.34
AMC	2.72	0.04	0.01	0.11	3.17	(3.52)	6.06	(6.06)	16.06
NILI	4.56	0.72	0.16	0.66	4.03	(6.56)	10.53	(6.98)	27.12
CRE	2.86	0.02	0.00	0.06	2.97	(5.02)	6.25	(6.00)	19.84
SLR	2.51	0.15	0.04	0.21	3.19	(3.05)	6.25	(5.56)	14.05
ETL	2.35	0.30	0.11	0.84	2.25	(2.99)	5.43	(3.49)	13.97
NEXT	3.86	0.52	0.12	0.46	3.56	(5.88)	11.36	(7.14)	22.46
ZNG	4.75	1.26	0.20	0.80	4.61	(6.73)	13.33	(6.67)	45.24

Be your own money manager

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