Hummingbird Resources Correlations

HUMRF Stock

USD 0.03 0.00 0.00%

The current 90-days correlation between Hummingbird Resources PLC and Japan Gold Corp is 0.28 (i.e., Modest diversification). The correlation of Hummingbird 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.

Hummingbird Resources Correlation With Market

Average diversification

The correlation between Hummingbird Resources PLC and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hummingbird Resources PLC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Hummingbird 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 Hummingbird 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 Hummingbird 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 Hummingbird Resources PLC to buy it.

Moving together with Hummingbird Pink Sheet

0.65	WPM	Wheaton Precious Metals	Pair Corr
0.71	GOLD	Barrick Gold Corp	Pair Corr
0.65	WM	Waste Management	Pair Corr
0.64	GLU	Gabelli Global Utility	Pair Corr
0.74	VZ	Verizon Communications	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr

Moving against Hummingbird Pink Sheet

0.63	AA	Alcoa Corp	Pair Corr
0.59	MSFT	Microsoft	Pair Corr
0.56	CAT	Caterpillar	Pair Corr
0.46	AXP	American Express	Pair Corr
0.4	HD	Home Depot	Pair Corr
0.35	DIS	Walt Disney	Pair Corr
0.31	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	FRERF	NRRSF	TDRRF	CGOLF	JGLDF	RSRBF	ROVMF	ORFDF	LONCF	PREIF
FRERF		0.32	-0.29	0.0	-0.36	-0.15	-0.24	0.13	0.0	-0.23	FRERF
NRRSF	0.32		-0.05	0.0	0.38	0.23	0.01	-0.04	0.0	-0.13	NRRSF
TDRRF	-0.29	-0.05		0.0	-0.17	-0.41	0.49	0.05	0.0	0.32	TDRRF
CGOLF	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CGOLF
JGLDF	-0.36	0.38	-0.17	0.0		0.68	0.07	-0.47	0.0	0.21	JGLDF
RSRBF	-0.15	0.23	-0.41	0.0	0.68		-0.01	-0.36	0.0	-0.22	RSRBF
ROVMF	-0.24	0.01	0.49	0.0	0.07	-0.01		-0.16	0.0	0.4	ROVMF
ORFDF	0.13	-0.04	0.05	0.0	-0.47	-0.36	-0.16		0.0	-0.24	ORFDF
LONCF	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	LONCF
PREIF	-0.23	-0.13	0.32	0.0	0.21	-0.22	0.4	-0.24	0.0		PREIF
	FRERF	NRRSF	TDRRF	CGOLF	JGLDF	RSRBF	ROVMF	ORFDF	LONCF	PREIF

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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

RSRBF	+ 0.68	JGLDF
ROVMF	+ 0.49	TDRRF
PREIF	+ 0.4	ROVMF
JGLDF	+ 0.38	NRRSF
NRRSF	+ 0.32	FRERF
PREIF	+ 0.32	TDRRF

High negative correlations

ORFDF	- 0.47	JGLDF
RSRBF	- 0.41	TDRRF
ORFDF	- 0.36	RSRBF
JGLDF	- 0.36	FRERF
TDRRF	- 0.29	FRERF
PREIF	- 0.24	ORFDF

Risk-Adjusted Indicators

There is a big difference between Hummingbird Pink Sheet performing well and Hummingbird 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 Hummingbird 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
FRERF	8.35	1.08	0.05	(0.34)	10.14	(17.15)	29.29	(27.73)	72.02
NRRSF	4.69	0.57	0.04	(0.32)	5.76	(11.63)	14.29	(14.29)	41.26
TDRRF	3.10	0.00	0.00	0.01	3.06	(4.66)	6.52	(4.65)	17.31
CGOLF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JGLDF	4.88	1.24	0.17	2.53	4.46	(8.24)	12.50	(9.62)	57.36
RSRBF	2.04	0.28	0.05	(0.57)	2.48	(4.25)	5.88	(4.89)	19.55
ROVMF	8.60	2.54	0.11	(0.68)	8.06	(28.28)	32.08	(16.67)	133.98
ORFDF	3.16	(0.23)	0.00	(0.36)	0.00	0.00	7.02	(8.63)	24.95
LONCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PREIF	6.19	0.46	0.05	0.29	7.66	(7.75)	17.46	(11.99)	48.45

View Hummingbird Resources Related Equities

Fremont Gold Norsemont Mining Tudor Gold Corp Contact Gold Corp Japan Gold Corp Robex Resources Rover Metals Corp Orefinders Resources Loncor Gold Precipitate Gold Corp Klondike Gold Corp Exploits Discovery Corp Cabral Gold Dundee Precious Metals Artemis Gold

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Hummingbird Resources Corporate Management

Luke Main	Group Officer	Profile
Tracey Fung	Company Sec	Profile
Timothy Huskinson	VP Fin	Profile
Saidou Id	GM Admin	Profile

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