Hannan Metals Correlations

HANNF Stock  USD 0.61  0.04  6.15%   
The current 90-days correlation between Hannan Metals and Leading Edge Materials is 0.06 (i.e., Significant diversification). The correlation of Hannan 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.

Hannan Metals Correlation With Market

Good diversification

The correlation between Hannan Metals and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hannan Metals and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Hannan 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 Hannan 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 Hannan 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 Hannan Metals to buy it.

Moving together with Hannan Pink Sheet

  0.71ATCOL Atlas CorpPairCorr
  0.77GCMGW GCM GrosvenorPairCorr
  0.67KO Coca ColaPairCorr
  0.76CSCO Cisco SystemsPairCorr
  0.7BA BoeingPairCorr
  0.67JPM JPMorgan ChasePairCorr
  0.64GE GE AerospacePairCorr
  0.79WMT Walmart Aggressive PushPairCorr
  0.66MCD McDonaldsPairCorr
  0.63MMM 3M CompanyPairCorr

Moving against Hannan Pink Sheet

  0.71PPERY Bank Mandiri PerseroPairCorr
  0.66PPERF Bank Mandiri PerseroPairCorr
  0.65PBCRF PT Bank CentralPairCorr
  0.64PTAIY Astra International TbkPairCorr
  0.61TLKMF Telkom Indonesia TbkPairCorr
  0.61PBCRY Bank Central AsiaPairCorr
  0.6TLK Telkom Indonesia Tbk Downward RallyPairCorr
  0.56PCTTW PureCycle Technologies Upward RallyPairCorr
  0.51ADVWW Advantage SolutionsPairCorr
  0.83MRK Merck Company Aggressive PushPairCorr
  0.52CAT CaterpillarPairCorr
  0.35TRV The Travelers CompaniesPairCorr
  0.34XOM Exxon Mobil CorpPairCorr

Related Correlations Analysis

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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   
ZNCXFATMGF
NICMFIIDDY
NICMFDRRSF
IIDDYDRRSF
MALRFDRRSF
ZNCXFLEMIF
  
High negative correlations   
MALRFLEMIF
ZNCXFIIDDY
ZNCXFNICMF
ZNCXFDRRSF
IIDDYATMGF
ZNCXFSRGXF

Risk-Adjusted Indicators

There is a big difference between Hannan Pink Sheet performing well and Hannan 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 Hannan 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ATMGF  9.96  0.97  0.06  0.39  10.62 
 19.86 
 142.14 
LEMIF  6.51  1.89  0.29 (4.90) 4.82 
 16.39 
 43.14 
DRRSF  3.54 (0.29) 0.00  0.31  0.00 
 10.00 
 38.18 
REZZF  9.98  0.39  0.03 (0.61) 11.74 
 20.25 
 60.54 
IIDDY  0.85 (0.29) 0.00 (1.24) 0.00 
 0.00 
 22.49 
QNICF  15.13  6.20  0.00 (1.56) 0.00 
 0.00 
 420.05 
NICMF  1.78 (0.20) 0.00  2.17  0.00 
 3.77 
 28.39 
MALRF  1.31 (0.45) 0.00 (0.97) 0.00 
 2.58 
 23.32 
SRGXF  3.00  0.07  0.02 (0.10) 3.82 
 6.22 
 23.39 
ZNCXF  1.60  0.22  0.00 (0.22) 0.00 
 0.00 
 45.83 

Be your own money manager

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

MSc PGeoConsultantProfile
BSc BScChairman CEOProfile
Mariana BermudezCorporate SecretaryProfile
Oleg KimVP OperationsProfile
Malcolm PEngTechnical DirectorProfile