Cornish Metals Correlations

CUSN Stock

8.35 0.05 0.60%

The current 90-days correlation between Cornish Metals and Centaur Media is 0.05 (i.e., Significant diversification). The correlation of Cornish 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Cornish Metals Correlation With Market

Good diversification

The correlation between Cornish Metals and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cornish Metals and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Cornish 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 Cornish 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 Cornish 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 Cornish Metals to buy it.

Moving together with Cornish Stock

0.69	FXPO	Ferrexpo PLC	Pair Corr
0.69	AMRQ	Amaroq Minerals Earnings Call Tomorrow	Pair Corr
0.68	TYT	Toyota Motor Corp	Pair Corr
0.61	SBID	State Bank	Pair Corr

Moving against Cornish Stock

0.86	0KII	SSAB AB ser	Pair Corr
0.6	ANTO	Antofagasta PLC	Pair Corr
0.58	THX	Thor Explorations	Pair Corr
0.46	0QPS	Givaudan SA	Pair Corr

Related Correlations Analysis

	0LJE	0QT5	XLM	MDZ	0QG9	CAU	OMIP	ICG
0LJE		-0.12	-0.46	0.22	0.1	-0.4	-0.53	-0.47	0LJE
0QT5	-0.12		0.53	-0.22	0.48	0.63	0.24	0.33	0QT5
XLM	-0.46	0.53		-0.51	0.52	0.84	0.32	0.7	XLM
MDZ	0.22	-0.22	-0.51		-0.3	-0.23	-0.22	-0.67	MDZ
0QG9	0.1	0.48	0.52	-0.3		0.43	-0.21	0.11	0QG9
CAU	-0.4	0.63	0.84	-0.23	0.43		0.26	0.56	CAU
OMIP	-0.53	0.24	0.32	-0.22	-0.21	0.26		0.3	OMIP
ICG	-0.47	0.33	0.7	-0.67	0.11	0.56	0.3		ICG
	0LJE	0QT5	XLM	MDZ	0QG9	CAU	OMIP	ICG

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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

CAU	+ 0.84	XLM
ICG	+ 0.7	XLM
CAU	+ 0.63	0QT5
ICG	+ 0.56	CAU
XLM	+ 0.53	0QT5
0QG9	+ 0.52	XLM

High negative correlations

ICG	- 0.67	MDZ
OMIP	- 0.53	0LJE
MDZ	- 0.51	XLM
ICG	- 0.47	0LJE
XLM	- 0.46	0LJE
CAU	- 0.4	0LJE

Risk-Adjusted Indicators

There is a big difference between Cornish Stock performing well and Cornish Metals 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 Cornish 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
0LJE	1.78	(0.04)	0.00	0.16	0.00	0.00	4.00	(3.67)	9.36
0QT5	1.54	0.19	0.15	(0.61)	1.65	(1.75)	3.26	(3.10)	19.64
XLM	1.09	0.07	0.07	0.88	1.33	(1.65)	2.76	(2.11)	12.68
MDZ	1.39	(0.10)	0.00	0.13	0.00	0.00	4.29	(3.03)	17.56
0QG9	1.89	0.34	0.22	(1.57)	1.60	(2.29)	4.98	(3.12)	14.95
CAU	0.96	0.19	0.08	(0.66)	0.86	(8.10)	1.89	(3.45)	18.60
OMIP	0.63	0.00	0.00	(0.07)	0.00	0.00	2.41	(2.53)	13.35
ICG	1.55	0.04	0.00	(0.03)	0.00	0.00	2.64	(2.75)	12.44

Be your own money manager

Our tools can tell you how much better you can do entering a position in Cornish 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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Cornish Metals Corporate Management

Elected by the shareholders, the Cornish Metals' board of directors comprises two types of representatives: Cornish Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Cornish. The board's role is to monitor Cornish Metals' management team and ensure that shareholders' interests are well served. Cornish Metals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Cornish Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.

Brenda PEng	Corporate Secretary	Profile
Owen Mihalop	Chief Officer	Profile
Fawzi Hanano	Chief Officer	Profile
Matthew Hird	Chief Officer	Profile

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