FPX Nickel Correlations

FPOCF Stock

USD 0.16 0.01 5.88%

The current 90-days correlation between FPX Nickel Corp and Oroco Resource Corp is -0.37 (i.e., Very good diversification). The correlation of FPX Nickel 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.

FPX Nickel Correlation With Market

Significant diversification

The correlation between FPX Nickel Corp and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FPX Nickel Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against FPX OTC Stock

0.47	BA	Boeing	Pair Corr
0.4	PPERY	Bank Mandiri Persero	Pair Corr
0.55	BAC	Bank of America Sell-off Trend	Pair Corr
0.5	DIS	Walt Disney	Pair Corr
0.4	HD	Home Depot	Pair Corr
0.39	HPQ	HP Inc	Pair Corr
0.33	JPM	JPMorgan Chase	Pair Corr
0.31	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	ORRCF	SYAAF	GPHOF	WWR	GOMRF	ARXRF	PWRMF	ILHMF	HREEF	RIGMF
ORRCF		0.31	-0.19	-0.06	0.32	-0.03	-0.05	0.06	-0.08	0.35	ORRCF
SYAAF	0.31		0.74	0.23	0.07	0.07	0.57	-0.17	-0.4	0.66	SYAAF
GPHOF	-0.19	0.74		0.28	-0.07	0.25	0.69	-0.16	-0.51	0.54	GPHOF
WWR	-0.06	0.23	0.28		0.16	-0.52	-0.25	0.14	-0.05	-0.21	WWR
GOMRF	0.32	0.07	-0.07	0.16		-0.15	-0.16	0.28	-0.19	0.02	GOMRF
ARXRF	-0.03	0.07	0.25	-0.52	-0.15		0.47	-0.01	-0.44	0.37	ARXRF
PWRMF	-0.05	0.57	0.69	-0.25	-0.16	0.47		-0.18	-0.27	0.67	PWRMF
ILHMF	0.06	-0.17	-0.16	0.14	0.28	-0.01	-0.18		0.15	-0.15	ILHMF
HREEF	-0.08	-0.4	-0.51	-0.05	-0.19	-0.44	-0.27	0.15		-0.47	HREEF
RIGMF	0.35	0.66	0.54	-0.21	0.02	0.37	0.67	-0.15	-0.47		RIGMF
	ORRCF	SYAAF	GPHOF	WWR	GOMRF	ARXRF	PWRMF	ILHMF	HREEF	RIGMF

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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

GPHOF	+ 0.74	SYAAF
PWRMF	+ 0.69	GPHOF
RIGMF	+ 0.67	PWRMF
RIGMF	+ 0.66	SYAAF
PWRMF	+ 0.57	SYAAF
RIGMF	+ 0.54	GPHOF

High negative correlations

ARXRF	- 0.52	WWR
HREEF	- 0.51	GPHOF
RIGMF	- 0.47	HREEF
HREEF	- 0.44	ARXRF
HREEF	- 0.4	SYAAF
HREEF	- 0.27	PWRMF

Risk-Adjusted Indicators

There is a big difference between FPX OTC Stock performing well and FPX Nickel 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 FPX Nickel'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
ORRCF	4.85	0.47	0.07	35.61	5.01	(7.76)	11.11	(10.00)	30.95
SYAAF	5.07	0.92	0.13	6.46	4.43	(8.89)	10.53	(8.33)	34.97
GPHOF	2.86	0.41	0.13	(97.47)	2.62	(5.13)	8.16	(4.00)	22.66
WWR	5.68	0.45	0.09	(21.72)	5.61	(7.67)	18.00	(9.72)	63.99
GOMRF	2.00	0.13	0.00	(2.33)	0.00	0.00	16.67	(14.29)	30.95
ARXRF	2.64	0.03	0.00	(0.03)	0.00	0.00	13.33	(11.76)	33.33
PWRMF	4.87	2.00	0.34	1.87	3.39	(8.04)	16.05	(6.67)	46.17
ILHMF	3.93	0.09	0.02	(0.26)	5.36	(6.96)	13.00	(9.91)	42.34
HREEF	29.51	13.18	0.00	5.78	0.00	0.00	0.00	0.00	990.00
RIGMF	6.40	1.16	0.09	(2.33)	6.94	(20.40)	32.43	(14.54)	77.40

Be your own money manager

Our tools can tell you how much better you can do entering a position in FPX Nickel 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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