Arafura Resources Correlations

ARAFF Stock

USD 0.13 0.02 18.18%

The current 90-days correlation between Arafura Resources and Adriatic Metals PLC is -0.15 (i.e., Good diversification). The correlation of Arafura 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.

Arafura Resources Correlation With Market

Good diversification

The correlation between Arafura Resources and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arafura Resources and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Arafura 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 Arafura 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 Arafura 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 Arafura Resources to buy it.

Moving together with Arafura Pink Sheet

0.77	RIO	Rio Tinto ADR	Pair Corr
0.7	WM	Waste Management	Pair Corr
0.7	HROWM	Harrow Health, 11875	Pair Corr
0.61	MCD	McDonalds	Pair Corr
0.76	TRV	The Travelers Companies	Pair Corr
0.65	MMM	3M Company	Pair Corr
0.71	XOM	Exxon Mobil Corp	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr

Moving against Arafura Pink Sheet

0.71	MSFT	Microsoft	Pair Corr
0.7	GLNCY	Glencore PLC ADR	Pair Corr
0.68	GLCNF	Glencore PLC	Pair Corr
0.67	CNCK	Coincheck Group NV	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.63	DIS	Walt Disney	Pair Corr
0.58	AXP	American Express	Pair Corr
0.52	CAT	Caterpillar	Pair Corr
0.37	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	TMRC	LYSDY	REEMF	UURAF	AUMTF	ARTTF	ASDRF	AZMTF	ALTPF	ANSNF
TMRC		0.6	0.0	0.38	0.7	0.54	0.17	-0.51	0.24	-0.26	TMRC
LYSDY	0.6		0.0	0.73	0.62	0.48	0.15	-0.37	0.0	0.0	LYSDY
REEMF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	REEMF
UURAF	0.38	0.73	0.0		0.32	0.18	0.25	-0.03	0.12	-0.08	UURAF
AUMTF	0.7	0.62	0.0	0.32		0.6	0.38	-0.71	0.17	-0.01	AUMTF
ARTTF	0.54	0.48	0.0	0.18	0.6		0.16	-0.52	-0.08	0.06	ARTTF
ASDRF	0.17	0.15	0.0	0.25	0.38	0.16		0.08	0.63	-0.15	ASDRF
AZMTF	-0.51	-0.37	0.0	-0.03	-0.71	-0.52	0.08		0.1	-0.21	AZMTF
ALTPF	0.24	0.0	0.0	0.12	0.17	-0.08	0.63	0.1		-0.3	ALTPF
ANSNF	-0.26	0.0	0.0	-0.08	-0.01	0.06	-0.15	-0.21	-0.3		ANSNF
	TMRC	LYSDY	REEMF	UURAF	AUMTF	ARTTF	ASDRF	AZMTF	ALTPF	ANSNF

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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

UURAF	+ 0.73	LYSDY
AUMTF	+ 0.7	TMRC
ALTPF	+ 0.63	ASDRF
AUMTF	+ 0.62	LYSDY
LYSDY	+ 0.6	TMRC
ARTTF	+ 0.6	AUMTF

High negative correlations

AZMTF	- 0.71	AUMTF
AZMTF	- 0.52	ARTTF
AZMTF	- 0.51	TMRC
AZMTF	- 0.37	LYSDY
ANSNF	- 0.3	ALTPF
ANSNF	- 0.26	TMRC

Risk-Adjusted Indicators

There is a big difference between Arafura Pink Sheet performing well and Arafura 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 Arafura 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
TMRC	5.49	0.64	0.10	(0.74)	5.78	(7.43)	12.20	(9.09)	48.33
LYSDY	1.85	0.12	0.08	0.65	1.94	(2.29)	4.88	(3.10)	10.66
REEMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
UURAF	3.75	0.68	0.12	0.42	4.16	(5.18)	7.69	(8.16)	33.46
AUMTF	0.25	0.11	0.00	(0.75)	0.00	0.00	0.00	0.00	8.33
ARTTF	43.04	16.74	0.27	(2.00)	21.97	(175.16)	133.33	(56.00)	761.32
ASDRF	3.98	0.95	0.00	0.63	0.00	0.00	33.33	(11.24)	58.33
AZMTF	1.98	(0.06)	0.00	(0.13)	0.00	0.00	5.13	(6.25)	20.09
ALTPF	4.37	0.76	0.08	(1.47)	4.56	(12.82)	16.67	(11.63)	42.86
ANSNF	4.51	0.80	0.00	(1.71)	0.00	0.00	21.00	(7.19)	87.08

Be your own money manager

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