Argosy Minerals Correlations

ARYMF Stock

USD 0.02 0 27.08%

The current 90-days correlation between Argosy Minerals and Adriatic Metals PLC is -0.19 (i.e., Good diversification). The correlation of Argosy Minerals 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.

Argosy Minerals Correlation With Market

Good diversification

The correlation between Argosy Minerals Limited and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Argosy Minerals Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Argosy Pink Sheet

0.5	MBFJF	Mitsubishi UFJ Financial	Pair Corr
0.45	MUFG	Mitsubishi UFJ Financial	Pair Corr
0.44	MFG	Mizuho Financial	Pair Corr
0.44	MZHOF	Mizuho Financial	Pair Corr
0.41	SSNLF	Samsung Electronics	Pair Corr
0.41	SMFG	Sumitomo Mitsui Financial	Pair Corr
0.72	BA	Boeing	Pair Corr
0.48	AXP	American Express	Pair Corr
0.45	PFE	Pfizer Inc	Pair Corr
0.44	JPM	JPMorgan Chase	Pair Corr
0.39	T	ATT Inc Aggressive Push	Pair Corr
0.38	GE	GE Aerospace Sell-off Trend	Pair Corr
0.33	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	EDDYF	CBRSF	AVRTF	ADTLF	APCDF	AUMTF	CRECF	ARTTF	ASDRF	AZMTF
EDDYF		0.49	0.0	-0.33	0.0	-0.48	-0.3	0.22	-0.39	0.28	EDDYF
CBRSF	0.49		0.0	-0.22	0.0	-0.36	-0.39	0.14	-0.48	0.45	CBRSF
AVRTF	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AVRTF
ADTLF	-0.33	-0.22	0.0		0.0	-0.02	0.29	0.25	0.25	0.25	ADTLF
APCDF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	APCDF
AUMTF	-0.48	-0.36	0.0	-0.02	0.0		0.19	-0.11	0.33	-0.48	AUMTF
CRECF	-0.3	-0.39	0.0	0.29	0.0	0.19		0.38	0.08	-0.38	CRECF
ARTTF	0.22	0.14	0.0	0.25	0.0	-0.11	0.38		-0.22	-0.06	ARTTF
ASDRF	-0.39	-0.48	0.0	0.25	0.0	0.33	0.08	-0.22		-0.2	ASDRF
AZMTF	0.28	0.45	0.0	0.25	0.0	-0.48	-0.38	-0.06	-0.2		AZMTF
	EDDYF	CBRSF	AVRTF	ADTLF	APCDF	AUMTF	CRECF	ARTTF	ASDRF	AZMTF

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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

CBRSF	+ 0.49	EDDYF
AZMTF	+ 0.45	CBRSF
ARTTF	+ 0.38	CRECF
ASDRF	+ 0.33	AUMTF
CRECF	+ 0.29	ADTLF
AZMTF	+ 0.28	EDDYF

High negative correlations

AZMTF	- 0.48	AUMTF
ASDRF	- 0.48	CBRSF
AUMTF	- 0.48	EDDYF
CRECF	- 0.39	CBRSF
ASDRF	- 0.39	EDDYF
AZMTF	- 0.38	CRECF

Risk-Adjusted Indicators

There is a big difference between Argosy Pink Sheet performing well and Argosy Minerals 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 Argosy Minerals' 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
EDDYF	3.19	0.39	0.03	(0.24)	4.52	(15.46)	15.16	(12.41)	52.58
CBRSF	16.16	4.01	0.08	(0.18)	14.83	(137.50)	50.00	(50.00)	366.67
AVRTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ADTLF	1.48	0.12	0.03	0.37	1.83	(4.56)	5.56	(4.94)	15.47
APCDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AUMTF	2.36	0.38	0.00	(0.85)	0.00	0.00	0.00	0.00	70.45
CRECF	4.54	0.61	0.11	1.46	3.91	(8.12)	12.90	(7.41)	29.52
ARTTF	18.64	5.28	0.11	(2.53)	15.95	(93.18)	106.00	(44.00)	186.93
ASDRF	4.49	0.79	0.00	5.83	0.00	0.00	33.33	(12.50)	75.00
AZMTF	2.06	(0.16)	0.00	(0.19)	0.00	0.00	5.00	(4.88)	18.45

Be your own money manager

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