Ameriwest Lithium Correlations

AWLIF Stock

USD 0.12 0.01 7.69%

The current 90-days correlation between Ameriwest Lithium and Starr Peak Exploration is -0.04 (i.e., Good diversification). The correlation of Ameriwest Lithium 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.

Ameriwest Lithium Correlation With Market

Average diversification

The correlation between Ameriwest Lithium and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ameriwest Lithium and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ameriwest Pink Sheet

0.63	RIO	Rio Tinto ADR	Pair Corr
0.71	WM	Waste Management	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.7	MCD	McDonalds	Pair Corr
0.73	INTC	Intel	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr

Moving against Ameriwest Pink Sheet

0.73	GLNCY	Glencore PLC ADR	Pair Corr
0.7	GLCNF	Glencore PLC	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.62	CNCK	Coincheck Group NV	Pair Corr
0.57	MSFT	Microsoft	Pair Corr
0.51	AA	Alcoa Corp	Pair Corr
0.49	MRK	Merck Company	Pair Corr
0.47	AXP	American Express	Pair Corr

Related Correlations Analysis

	STRPF	AMLI	HECOF	APHLF	ALLIF	ULTHF	SLI	AGXPF	AXREF	ARYMF
STRPF		0.0	-0.24	0.0	-0.3	-0.26	-0.24	-0.07	0.2	-0.04	STRPF
AMLI	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AMLI
HECOF	-0.24	0.0		0.0	0.66	0.55	0.72	0.57	-0.26	0.35	HECOF
APHLF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	APHLF
ALLIF	-0.3	0.0	0.66	0.0		0.6	0.59	0.43	-0.69	0.41	ALLIF
ULTHF	-0.26	0.0	0.55	0.0	0.6		0.5	0.42	-0.43	0.31	ULTHF
SLI	-0.24	0.0	0.72	0.0	0.59	0.5		0.77	-0.17	0.25	SLI
AGXPF	-0.07	0.0	0.57	0.0	0.43	0.42	0.77		-0.09	0.09	AGXPF
AXREF	0.2	0.0	-0.26	0.0	-0.69	-0.43	-0.17	-0.09		-0.38	AXREF
ARYMF	-0.04	0.0	0.35	0.0	0.41	0.31	0.25	0.09	-0.38		ARYMF
	STRPF	AMLI	HECOF	APHLF	ALLIF	ULTHF	SLI	AGXPF	AXREF	ARYMF

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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

AGXPF	+ 0.77	SLI
SLI	+ 0.72	HECOF
ALLIF	+ 0.66	HECOF
ULTHF	+ 0.6	ALLIF
SLI	+ 0.59	ALLIF
AGXPF	+ 0.57	HECOF

High negative correlations

AXREF	- 0.69	ALLIF
AXREF	- 0.43	ULTHF
ARYMF	- 0.38	AXREF
ALLIF	- 0.3	STRPF
AXREF	- 0.26	HECOF
ULTHF	- 0.26	STRPF

Risk-Adjusted Indicators

There is a big difference between Ameriwest Pink Sheet performing well and Ameriwest Lithium 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 Ameriwest Lithium'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
STRPF	2.96	0.07	0.01	0.03	3.51	(5.17)	8.00	(7.41)	16.39
AMLI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HECOF	10.02	0.30	0.03	(0.70)	11.12	(13.57)	26.92	(19.00)	89.43
APHLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ALLIF	7.32	0.06	0.01	(0.11)	9.69	(15.28)	20.00	(21.43)	64.78
ULTHF	7.05	0.21	0.02	0.18	8.23	(9.85)	16.67	(14.29)	45.45
SLI	3.08	(0.04)	0.00	(0.10)	0.00	0.00	7.01	(5.97)	18.40
AGXPF	3.57	(0.06)	0.00	(0.21)	0.00	0.00	7.69	(7.69)	25.87
AXREF	7.97	3.05	0.35	0.86	5.25	(13.66)	13.79	(7.14)	200.23
ARYMF	5.10	0.61	0.05	(2.20)	6.66	(12.67)	17.99	(10.80)	60.91

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