Kavango Resources Correlations

KVGOF Stock

USD 0.01 0.0008 10.00%

The current 90-days correlation between Kavango Resources Plc and Nickel Creek Platinum is -0.05 (i.e., Good diversification). The correlation of Kavango 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.

Kavango Resources Correlation With Market

Significant diversification

The correlation between Kavango Resources Plc and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kavango Resources Plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Kavango 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 Kavango 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 Kavango 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 Kavango Resources Plc to buy it.

Moving against Kavango Pink Sheet

0.56	MCD	McDonalds	Pair Corr
0.52	WM	Waste Management	Pair Corr
0.49	DD	Dupont De Nemours	Pair Corr
0.45	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.44	BHP	BHP Group Limited	Pair Corr
0.41	RTPPF	Rio Tinto Group	Pair Corr
0.36	RIO	Rio Tinto ADR	Pair Corr
0.31	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	ZZZOF	HREEF	NCPCF	STRPF	LEMIF	LMMFF	ARRRF	BLSTF	CYLYF	RIO
ZZZOF		-0.93	-0.39	0.43	0.26	-0.2	0.45	0.32	0.25	0.51	ZZZOF
HREEF	-0.93		0.35	-0.39	-0.24	0.17	-0.42	-0.3	-0.22	-0.5	HREEF
NCPCF	-0.39	0.35		-0.23	-0.01	-0.23	-0.05	-0.03	0.12	-0.06	NCPCF
STRPF	0.43	-0.39	-0.23		0.44	-0.28	0.49	0.2	0.21	0.56	STRPF
LEMIF	0.26	-0.24	-0.01	0.44		-0.82	0.71	0.64	0.37	0.71	LEMIF
LMMFF	-0.2	0.17	-0.23	-0.28	-0.82		-0.59	-0.62	-0.52	-0.68	LMMFF
ARRRF	0.45	-0.42	-0.05	0.49	0.71	-0.59		0.6	0.25	0.75	ARRRF
BLSTF	0.32	-0.3	-0.03	0.2	0.64	-0.62	0.6		0.05	0.55	BLSTF
CYLYF	0.25	-0.22	0.12	0.21	0.37	-0.52	0.25	0.05		0.38	CYLYF
RIO	0.51	-0.5	-0.06	0.56	0.71	-0.68	0.75	0.55	0.38		RIO
	ZZZOF	HREEF	NCPCF	STRPF	LEMIF	LMMFF	ARRRF	BLSTF	CYLYF	RIO

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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

RIO	+ 0.75	ARRRF
ARRRF	+ 0.71	LEMIF
RIO	+ 0.71	LEMIF
BLSTF	+ 0.64	LEMIF
BLSTF	+ 0.6	ARRRF
RIO	+ 0.56	STRPF

High negative correlations

HREEF	- 0.93	ZZZOF
LMMFF	- 0.82	LEMIF
RIO	- 0.68	LMMFF
BLSTF	- 0.62	LMMFF
ARRRF	- 0.59	LMMFF
CYLYF	- 0.52	LMMFF

Risk-Adjusted Indicators

There is a big difference between Kavango Pink Sheet performing well and Kavango 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 Kavango 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
ZZZOF	0.40	(0.02)	0.00	0.06	0.00	0.00	0.00	0.00	13.30
HREEF	29.51	12.94	0.00	(10.33)	0.00	0.00	0.00	0.00	990.00
NCPCF	3.27	0.20	0.03	(0.47)	4.82	(7.94)	8.57	(8.11)	49.52
STRPF	2.96	0.07	0.01	0.03	3.51	(5.17)	8.00	(7.41)	16.39
LEMIF	8.81	2.56	0.25	1.04	7.91	(11.07)	27.91	(14.29)	67.21
LMMFF	2.85	(0.72)	0.00	0.55	0.00	0.00	6.14	(5.94)	66.54
ARRRF	3.92	0.47	0.07	(1.14)	4.22	(9.14)	12.50	(10.00)	35.07
BLSTF	8.81	2.94	0.00	(1.01)	0.00	0.00	16.13	0.00	235.12
CYLYF	14.27	3.35	0.09	0.47	16.45	(34.20)	56.25	(30.00)	156.24
RIO	1.01	0.06	0.09	0.21	1.23	(1.10)	2.27	(1.73)	5.53

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Our tools can tell you how much better you can do entering a position in Kavango Resources 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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Matthew Turney	CEO Director	Profile
Brett Grist	COO Director	Profile
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