Arizona Metals Correlations

AZMCF Stock  USD 1.19  0.04  3.25%   
The current 90-days correlation between Arizona Metals Corp and Lotus Resources Limited is 0.15 (i.e., Average diversification). The correlation of Arizona Metals 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.

Arizona Metals Correlation With Market

Good diversification

The correlation between Arizona Metals Corp and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arizona Metals Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Arizona Metals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Arizona Metals 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 Arizona Metals - 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 Arizona Metals Corp to buy it.

Moving against Arizona OTC Stock

  0.46BHPLF BHP Group LimitedPairCorr
  0.46BHP BHP Group LimitedPairCorr
  0.44RTNTF Rio Tinto GroupPairCorr
  0.44GLCNF Glencore PLCPairCorr
  0.43RIO Rio Tinto ADRPairCorr
  0.43GLNCY Glencore PLC ADRPairCorr
  0.42RTPPF Rio Tinto GroupPairCorr
  0.32AAUKF Anglo American plcPairCorr
  0.38HPQ HP IncPairCorr
  0.38XOM Exxon Mobil Corp Fiscal Year End 7th of February 2025 PairCorr
  0.34MCD McDonalds Sell-off TrendPairCorr
  0.32CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

Related Correlations Analysis

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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   
TRKUFNTCPF
TRKUFGRLVF
GRLVFNTCPF
MURMFLTSRF
GRLVFLTSRF
MURMFEMGDF
  
High negative correlations   
GRLVFADBRF
NTCPFADBRF
TRKUFADBRF
TRKUFWMNNF
LTSRFADBRF
WMNNFGRLVF

Risk-Adjusted Indicators

There is a big difference between Arizona OTC Stock performing well and Arizona Metals OTC Stock 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 Arizona Metals' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ADBRF  3.26  1.26  0.29  7.11  2.26 
 9.09 
 25.23 
NTCPF  4.06  0.03  0.00  0.10  0.00 
 6.67 
 37.22 
LTSRF  4.13  0.18  0.02  0.46  4.53 
 11.11 
 27.62 
GRLVF  3.37 (0.22) 0.00 (0.34) 0.00 
 7.69 
 41.83 
THURF  9.88  0.05  0.07  0.13  11.15 
 32.98 
 215.85 
WMNNF  3.00  0.87  0.00  0.57  0.00 
 0.00 
 125.00 
TRKUF  14.19  2.61  0.06 (1.36) 15.04 
 50.44 
 263.96 
EMGDF  2.34  0.42  0.01 (0.23) 3.15 
 8.70 
 40.11 
MURMF  5.75  1.34  0.07 (0.63) 6.34 
 16.67 
 71.71 
LKMNF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 

Be your own money manager

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