Cartier Resources Correlations

ECR Stock

CAD 0.09 0.01 5.56%

The current 90-days correlation between Cartier Resources and Rubicon Organics is -0.19 (i.e., Good diversification). The correlation of Cartier Resources 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.

Cartier Resources Correlation With Market

Average diversification

The correlation between Cartier Resources and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cartier Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Cartier Stock

0.83	AG	First Majestic Silver	Pair Corr
0.91	IE	Ivanhoe Energy	Pair Corr
0.83	FDY	Faraday Copper Corp	Pair Corr
0.81	NVDA	NVIDIA CDR	Pair Corr
0.71	META	Meta Platforms CDR	Pair Corr
0.74	GOOG	Alphabet CDR	Pair Corr

Moving against Cartier Stock

0.43

INFM

Infinico Metals Corp

Pair Corr

Related Correlations Analysis

	ASTL	CIA	IZ	ERE-UN	FTN-PA	ROMJ	VO	LNR	AMZN	FHE
ASTL		-0.39	-0.66	0.6	0.71	-0.5	0.03	-0.46	0.69	0.26	ASTL
CIA	-0.39		0.6	-0.05	-0.35	0.04	0.2	0.56	-0.25	0.2	CIA
IZ	-0.66	0.6		-0.42	-0.55	0.3	0.09	0.3	-0.42	0.02	IZ
ERE-UN	0.6	-0.05	-0.42		0.84	-0.8	0.3	-0.05	0.87	0.63	ERE-UN
FTN-PA	0.71	-0.35	-0.55	0.84		-0.8	0.38	-0.3	0.81	0.6	FTN-PA
ROMJ	-0.5	0.04	0.3	-0.8	-0.8		-0.56	0.16	-0.72	-0.78	ROMJ
VO	0.03	0.2	0.09	0.3	0.38	-0.56		-0.14	0.34	0.81	VO
LNR	-0.46	0.56	0.3	-0.05	-0.3	0.16	-0.14		-0.37	-0.22	LNR
AMZN	0.69	-0.25	-0.42	0.87	0.81	-0.72	0.34	-0.37		0.62	AMZN
FHE	0.26	0.2	0.02	0.63	0.6	-0.78	0.81	-0.22	0.62		FHE
	ASTL	CIA	IZ	ERE-UN	FTN-PA	ROMJ	VO	LNR	AMZN	FHE

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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

AMZN	+ 0.87	ERE-UN
FTN-PA	+ 0.84	ERE-UN
AMZN	+ 0.81	FTN-PA
FHE	+ 0.81	VO
FTN-PA	+ 0.71	ASTL
AMZN	+ 0.69	ASTL

High negative correlations

ROMJ	- 0.8	FTN-PA
ROMJ	- 0.8	ERE-UN
FHE	- 0.78	ROMJ
AMZN	- 0.72	ROMJ
IZ	- 0.66	ASTL
VO	- 0.56	ROMJ

Risk-Adjusted Indicators

There is a big difference between Cartier Stock performing well and Cartier Resources 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 Cartier Resources' 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
ASTL	1.70	(0.05)	0.01	0.09	1.84	(1.85)	4.54	(3.26)	12.55
CIA	2.35	(0.21)	0.00	(0.06)	0.00	0.00	4.57	(4.08)	15.66
IZ	6.18	0.66	0.00	(0.02)	7.95	(20.48)	25.00	(20.00)	58.33
ERE-UN	1.42	0.31	0.29	0.30	0.76	(1.88)	3.40	(1.58)	20.23
FTN-PA	0.18	0.08	(0.36)	(1.33)	0.00	(0.27)	0.48	(0.20)	1.71
ROMJ	2.97	(0.38)	0.00	(0.53)	0.00	0.00	7.50	(6.52)	27.78
VO	7.34	0.54	0.07	0.28	6.82	(18.30)	20.00	(16.67)	56.67
LNR	1.21	(0.09)	0.00	(0.07)	0.00	0.00	1.83	(2.63)	10.57
AMZN	1.41	0.22	0.10	0.48	1.46	(1.59)	3.21	(2.97)	10.08
FHE	0.13	0.05	0.00	(0.53)	0.00	0.00	0.35	0.00	2.77

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Our tools can tell you how much better you can do entering a position in Cartier Resources 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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