Arizona Metals Correlations

AZMCF Stock

USD 1.19 0.03 2.46%

The current 90-days correlation between Arizona Metals Corp and Lotus Resources Limited is 0.21 (i.e., Modest 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

Average diversification

The correlation between Arizona Metals Corp and DJI is 0.19 (i.e., Average 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

0.62	RNAZ	Transcode Therapeutics	Pair Corr
0.51	BHP	BHP Group Limited	Pair Corr
0.48	RIO	Rio Tinto ADR	Pair Corr
0.48	GLCNF	Glencore PLC	Pair Corr
0.48	GLNCY	Glencore PLC ADR	Pair Corr
0.47	BHPLF	BHP Group Limited	Pair Corr
0.46	RTNTF	Rio Tinto Group	Pair Corr
0.42	RTPPF	Rio Tinto Group	Pair Corr
0.33	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.4	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.37	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.32	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ADBRF	NTCPF	LTSRF	GRLVF	THURF	WMNNF	TRKUF	EMGDF	MURMF	LKMNF
ADBRF		-0.61	-0.39	-0.7	-0.14	0.36	-0.64	0.13	-0.08	0.0	ADBRF
NTCPF	-0.61		0.29	0.44	-0.14	-0.44	0.52	0.02	0.29	0.0	NTCPF
LTSRF	-0.39	0.29		0.25	0.12	0.28	-0.04	0.24	0.53	0.0	LTSRF
GRLVF	-0.7	0.44	0.25		0.05	-0.53	0.61	-0.3	-0.09	0.0	GRLVF
THURF	-0.14	-0.14	0.12	0.05		0.06	0.06	-0.04	-0.04	0.0	THURF
WMNNF	0.36	-0.44	0.28	-0.53	0.06		-0.63	0.38	0.26	0.0	WMNNF
TRKUF	-0.64	0.52	-0.04	0.61	0.06	-0.63		-0.31	-0.09	0.0	TRKUF
EMGDF	0.13	0.02	0.24	-0.3	-0.04	0.38	-0.31		0.43	0.0	EMGDF
MURMF	-0.08	0.29	0.53	-0.09	-0.04	0.26	-0.09	0.43		0.0	MURMF
LKMNF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		LKMNF
	ADBRF	NTCPF	LTSRF	GRLVF	THURF	WMNNF	TRKUF	EMGDF	MURMF	LKMNF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TRKUF	+ 0.61	GRLVF
MURMF	+ 0.53	LTSRF
TRKUF	+ 0.52	NTCPF
GRLVF	+ 0.44	NTCPF
MURMF	+ 0.43	EMGDF
EMGDF	+ 0.38	WMNNF

High negative correlations

GRLVF	- 0.7	ADBRF
TRKUF	- 0.64	ADBRF
TRKUF	- 0.63	WMNNF
NTCPF	- 0.61	ADBRF
WMNNF	- 0.53	GRLVF
WMNNF	- 0.44	NTCPF

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ADBRF	3.26	1.31	0.29	17.15	2.22	(4.99)	9.09	(5.80)	25.23
NTCPF	4.32	(0.07)	0.00	1.20	0.00	0.00	8.57	(8.57)	37.22
LTSRF	4.02	0.01	(0.01)	0.16	4.64	(7.44)	10.53	(6.67)	27.62
GRLVF	3.59	(0.02)	0.00	0.24	0.00	0.00	7.69	(7.14)	41.83
THURF	9.94	(0.29)	0.06	0.12	11.34	(38.18)	32.98	(20.84)	215.85
WMNNF	3.00	1.44	0.00	(0.49)	0.00	0.00	0.00	0.00	125.00
TRKUF	14.30	3.65	0.07	(0.36)	15.27	(55.11)	50.44	(36.05)	263.96
EMGDF	2.34	0.42	0.01	(0.23)	3.15	(8.85)	8.70	(7.41)	40.11
MURMF	6.11	0.79	0.02	(0.29)	8.76	(11.75)	16.67	(14.53)	71.71
LKMNF	0.00	0.00	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.

Did you try this?

Run Investing Opportunities Now

Investing Opportunities

Build portfolios using our predefined set of ideas and optimize them against your investing preferences

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC