Alphamin Resources Correlations

AFMJF Stock

USD 0.35 0.04 12.90%

The current 90-days correlation between Alphamin Resources Corp and NGEx Minerals is -0.04 (i.e., Good diversification). The correlation of Alphamin Resources 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.

Alphamin Resources Correlation With Market

Modest diversification

The correlation between Alphamin Resources Corp and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alphamin Resources Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Alphamin Pink Sheet

0.81	PCTTW	PureCycle Technologies	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.66	AXP	American Express	Pair Corr

Moving against Alphamin Pink Sheet

0.89	T	ATT Inc Sell-off Trend	Pair Corr
0.85	KO	Coca Cola	Pair Corr
0.82	TRV	The Travelers Companies	Pair Corr
0.8	WM	Waste Management	Pair Corr
0.71	MCD	McDonalds	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.67	IBM	International Business	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.66	INTC	Intel Sell-off Trend	Pair Corr
0.63	ATCOL	Atlas Corp	Pair Corr
0.45	GCMGW	GCM Grosvenor	Pair Corr
0.44	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	NGXXF	MLXEF	MDSQF	ADBRF	SBWFF	FLMMF	PGZFF	ADMLF	ADTLF	ASDRF
NGXXF		0.08	0.02	0.19	-0.25	-0.16	0.34	-0.26	-0.04	0.12	NGXXF
MLXEF	0.08		0.27	0.45	0.07	-0.79	0.34	0.69	0.71	0.53	MLXEF
MDSQF	0.02	0.27		0.12	-0.25	-0.4	-0.13	0.06	0.11	-0.06	MDSQF
ADBRF	0.19	0.45	0.12		0.07	-0.41	-0.08	0.24	0.2	0.09	ADBRF
SBWFF	-0.25	0.07	-0.25	0.07		0.12	0.16	-0.01	-0.04	0.1	SBWFF
FLMMF	-0.16	-0.79	-0.4	-0.41	0.12		-0.39	-0.57	-0.75	-0.5	FLMMF
PGZFF	0.34	0.34	-0.13	-0.08	0.16	-0.39		0.19	0.21	0.29	PGZFF
ADMLF	-0.26	0.69	0.06	0.24	-0.01	-0.57	0.19		0.75	0.31	ADMLF
ADTLF	-0.04	0.71	0.11	0.2	-0.04	-0.75	0.21	0.75		0.44	ADTLF
ASDRF	0.12	0.53	-0.06	0.09	0.1	-0.5	0.29	0.31	0.44		ASDRF
	NGXXF	MLXEF	MDSQF	ADBRF	SBWFF	FLMMF	PGZFF	ADMLF	ADTLF	ASDRF

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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

ADTLF	+ 0.75	ADMLF
ADTLF	+ 0.71	MLXEF
ADMLF	+ 0.69	MLXEF
ASDRF	+ 0.53	MLXEF
ADBRF	+ 0.45	MLXEF
ASDRF	+ 0.44	ADTLF

High negative correlations

FLMMF	- 0.79	MLXEF
ADTLF	- 0.75	FLMMF
ADMLF	- 0.57	FLMMF
ASDRF	- 0.5	FLMMF
FLMMF	- 0.41	ADBRF
FLMMF	- 0.4	MDSQF

Risk-Adjusted Indicators

There is a big difference between Alphamin Pink Sheet performing well and Alphamin Resources 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 Alphamin Resources' 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
NGXXF	1.75	0.13	0.07	0.66	2.31	(1.99)	3.78	(3.84)	13.96
MLXEF	4.72	0.98	0.13	26.20	4.39	(8.42)	20.00	(9.68)	34.09
MDSQF	0.90	0.09	0.00	(0.19)	0.00	0.00	0.00	0.00	21.85
ADBRF	3.86	0.45	0.11	10.60	3.74	(5.35)	12.61	(6.72)	36.29
SBWFF	3.65	0.20	0.02	(0.24)	4.93	(13.65)	11.11	(10.00)	38.89
FLMMF	0.56	(0.11)	0.00	1.73	0.00	0.00	1.36	(1.58)	4.02
PGZFF	3.93	0.63	0.09	(1.29)	3.71	(10.52)	18.28	(9.09)	39.95
ADMLF	3.06	0.10	0.03	(2.22)	3.96	(3.17)	5.60	(7.46)	17.21
ADTLF	1.69	0.18	0.05	0.40	1.90	(4.15)	5.56	(4.53)	15.47
ASDRF	3.98	0.81	0.00	(0.66)	0.00	0.00	33.33	(11.24)	58.33

Be your own money manager

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