Hannan Metals Correlations

HANNF Stock

USD 0.71 0.01 1.43%

The current 90-days correlation between Hannan Metals and Leading Edge Materials is 0.01 (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 -0.05 (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

0.64	ATCOL	Atlas Corp	Pair Corr
0.65	GCMGW	GCM Grosvenor	Pair Corr
0.62	MBFJF	Mitsubishi UFJ Financial Normal Trading	Pair Corr
0.68	MZHOF	Mizuho Financial Normal Trading	Pair Corr
0.8	NVRO	Nevro Corp	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.72	GE	GE Aerospace	Pair Corr

Moving against Hannan Pink Sheet

0.65	PPERF	Bank Mandiri Persero	Pair Corr
0.64	PPERY	Bank Mandiri Persero	Pair Corr
0.58	PBCRY	Bank Central Asia	Pair Corr
0.47	PCTTW	PureCycle Technologies	Pair Corr
0.4	BKRKY	Bank Rakyat	Pair Corr
0.84	MRK	Merck Company	Pair Corr
0.54	MSFT	Microsoft	Pair Corr
0.33	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	ATMGF	LEMIF	DRRSF	REZZF	IIDDY	QNICF	NICMF	MALRF	SRGXF	ZNCXF
ATMGF		0.31	-0.03	-0.02	-0.29	-0.41	-0.44	-0.25	-0.23	0.63	ATMGF
LEMIF	0.31		-0.06	-0.65	-0.65	-0.33	-0.58	-0.91	-0.05	0.43	LEMIF
DRRSF	-0.03	-0.06		-0.05	-0.12	0.05	-0.14	0.1	0.07	-0.21	DRRSF
REZZF	-0.02	-0.65	-0.05		0.67	0.25	0.47	0.63	0.02	-0.22	REZZF
IIDDY	-0.29	-0.65	-0.12	0.67		0.23	0.6	0.51	-0.04	-0.55	IIDDY
QNICF	-0.41	-0.33	0.05	0.25	0.23		0.42	0.4	-0.18	-0.15	QNICF
NICMF	-0.44	-0.58	-0.14	0.47	0.6	0.42		0.52	0.02	-0.41	NICMF
MALRF	-0.25	-0.91	0.1	0.63	0.51	0.4	0.52		-0.06	-0.34	MALRF
SRGXF	-0.23	-0.05	0.07	0.02	-0.04	-0.18	0.02	-0.06		-0.44	SRGXF
ZNCXF	0.63	0.43	-0.21	-0.22	-0.55	-0.15	-0.41	-0.34	-0.44		ZNCXF
	ATMGF	LEMIF	DRRSF	REZZF	IIDDY	QNICF	NICMF	MALRF	SRGXF	ZNCXF

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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

IIDDY	+ 0.67	REZZF
ZNCXF	+ 0.63	ATMGF
MALRF	+ 0.63	REZZF
NICMF	+ 0.6	IIDDY
MALRF	+ 0.52	NICMF
MALRF	+ 0.51	IIDDY

High negative correlations

MALRF	- 0.91	LEMIF
IIDDY	- 0.65	LEMIF
REZZF	- 0.65	LEMIF
NICMF	- 0.58	LEMIF
ZNCXF	- 0.55	IIDDY
ZNCXF	- 0.44	SRGXF

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ATMGF	10.67	2.25	0.14	0.69	10.21	(16.54)	23.36	(21.21)	142.14
LEMIF	8.78	2.37	0.23	0.98	7.83	(11.43)	27.91	(14.29)	67.21
DRRSF	4.55	0.30	0.04	(0.46)	5.26	(9.20)	11.11	(10.00)	38.18
REZZF	14.52	1.23	0.05	0.27	16.99	(20.94)	31.28	(22.73)	173.83
IIDDY	1.18	(0.45)	0.00	(11.79)	0.00	0.00	0.00	(4.66)	22.49
QNICF	4.61	(0.48)	0.00	2.68	0.00	0.00	0.00	(15.38)	170.11
NICMF	2.03	(0.09)	0.00	(0.14)	0.00	0.00	8.11	(5.77)	45.63
MALRF	1.64	(0.63)	0.00	(1.96)	0.00	0.00	2.58	(6.45)	23.32
SRGXF	3.39	0.25	0.05	0.84	4.11	(5.33)	10.27	(9.59)	23.39
ZNCXF	1.59	0.39	0.00	(4.79)	0.00	0.00	0.00	0.00	47.62

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 PGeo	Consultant	Profile
BSc BSc	Chairman CEO	Profile
Mariana Bermudez	Corporate Secretary	Profile
Oleg Kim	VP Operations	Profile
Malcolm PEng	Technical Director	Profile

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