Freehold Royalties Correlations

FRHLF Stock

USD 9.96 0.06 0.60%

The current 90-days correlation between Freehold Royalties and Tamarack Valley Energy is 0.67 (i.e., Poor diversification). The correlation of Freehold Royalties 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.

Freehold Royalties Correlation With Market

Average diversification

The correlation between Freehold Royalties and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freehold Royalties and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Freehold Pink Sheet

0.74

GE Aerospace Fiscal Year End 28th of January 2025

Pair Corr

Moving against Freehold Pink Sheet

0.56	TPDDF	Talon Energy	Pair Corr
0.47	EPGG	Empire Global Gaming	Pair Corr

Related Correlations Analysis

	PREKF	TNEYF	MEGEF	TRMLF	CRLFF	CDDRF	BIREF	GENGF	AETUF	CRNCY
PREKF		0.74	0.42	0.71	0.22	0.64	-0.2	-0.32	-0.03	-0.4	PREKF
TNEYF	0.74		0.36	0.54	0.05	0.74	-0.39	-0.46	-0.01	-0.31	TNEYF
MEGEF	0.42	0.36		0.51	0.58	0.53	0.49	0.42	0.3	0.09	MEGEF
TRMLF	0.71	0.54	0.51		0.31	0.6	-0.07	-0.28	-0.19	-0.2	TRMLF
CRLFF	0.22	0.05	0.58	0.31		0.49	0.63	0.63	-0.21	0.52	CRLFF
CDDRF	0.64	0.74	0.53	0.6	0.49		-0.13	-0.13	-0.3	-0.01	CDDRF
BIREF	-0.2	-0.39	0.49	-0.07	0.63	-0.13		0.89	0.33	0.44	BIREF
GENGF	-0.32	-0.46	0.42	-0.28	0.63	-0.13	0.89		0.27	0.56	GENGF
AETUF	-0.03	-0.01	0.3	-0.19	-0.21	-0.3	0.33	0.27		-0.32	AETUF
CRNCY	-0.4	-0.31	0.09	-0.2	0.52	-0.01	0.44	0.56	-0.32		CRNCY
	PREKF	TNEYF	MEGEF	TRMLF	CRLFF	CDDRF	BIREF	GENGF	AETUF	CRNCY

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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

GENGF	+ 0.89	BIREF
TNEYF	+ 0.74	PREKF
CDDRF	+ 0.74	TNEYF
TRMLF	+ 0.71	PREKF
CDDRF	+ 0.64	PREKF
BIREF	+ 0.63	CRLFF

High negative correlations

GENGF	- 0.46	TNEYF
CRNCY	- 0.4	PREKF
BIREF	- 0.39	TNEYF
CRNCY	- 0.32	AETUF
GENGF	- 0.32	PREKF
CRNCY	- 0.31	TNEYF

Risk-Adjusted Indicators

There is a big difference between Freehold Pink Sheet performing well and Freehold Royalties 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 Freehold Royalties' 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
PREKF	1.11	0.04	(0.03)	0.27	1.49	(1.14)	3.15	(2.81)	7.24
TNEYF	1.82	0.10	0.00	0.60	2.30	(1.85)	3.81	(3.42)	10.79
MEGEF	1.79	(0.18)	0.00	(0.35)	0.00	0.00	3.98	(3.96)	10.17
TRMLF	1.38	0.00	(0.04)	0.13	1.67	(1.41)	2.45	(2.84)	7.50
CRLFF	1.08	(0.12)	0.00	(0.49)	0.00	0.00	1.50	(2.34)	5.44
CDDRF	1.49	(0.01)	(0.06)	(0.45)	2.13	(1.44)	3.16	(3.18)	10.36
BIREF	1.61	(0.25)	0.00	(0.39)	0.00	0.00	3.52	(3.54)	9.55
GENGF	1.75	(0.35)	0.00	(0.40)	0.00	0.00	2.70	(4.65)	11.28
AETUF	2.23	(0.36)	0.00	(0.52)	0.00	0.00	4.70	(5.41)	17.09
CRNCY	1.25	(0.22)	0.00	(0.22)	0.00	0.00	3.49	(4.49)	12.77

Be your own money manager

Our tools can tell you how much better you can do entering a position in Freehold Royalties 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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