Mako Mining Correlations

MAKOF Stock  USD 2.79  0.01  0.36%   
The current 90-days correlation between Mako Mining Corp and White Gold Corp is -0.25 (i.e., Very good diversification). The correlation of Mako Mining 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.

Mako Mining Correlation With Market

Significant diversification

The correlation between Mako Mining Corp and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mako Mining Corp and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Mako Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mako Mining 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 Mako Mining - 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 Mako Mining Corp to buy it.

Moving together with Mako OTC Stock

  0.86NEM Newmont Goldcorp CorpPairCorr
  0.89AEM Agnico Eagle MinesPairCorr
  0.7ZIJMY Zijin Mining Group Downward RallyPairCorr
  0.68ZIJMF Zijin Mining GroupPairCorr
  0.81WPM Wheaton Precious MetalsPairCorr
  0.79GOLD Barrick Gold CorpPairCorr
  0.89AU AngloGold Ashanti plcPairCorr
  0.86NVRO Nevro CorpPairCorr
  0.91BAOB Baraboo BancorporationPairCorr
  0.86TOI Oncology Institute Earnings Call This WeekPairCorr
  0.63TCTZF Tencent HoldingsPairCorr
  0.85AXSM Axsome TherapeuticsPairCorr
  0.77CSCO Cisco SystemsPairCorr
  0.83IBM International BusinessPairCorr
  0.73KO Coca ColaPairCorr
  0.81T ATT Inc Earnings Call This WeekPairCorr
  0.78JNJ Johnson JohnsonPairCorr
  0.61MCD McDonaldsPairCorr
  0.88GE GE AerospacePairCorr

Moving against Mako OTC Stock

  0.48STI Solidion TechnologyPairCorr
  0.73MRK Merck CompanyPairCorr
  0.69MSFT MicrosoftPairCorr
  0.63AA Alcoa CorpPairCorr
  0.48CAT CaterpillarPairCorr
  0.35DIS Walt DisneyPairCorr

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   
CJCFFNKOSF
WHGOFNFLDF
ENDGFNFLDF
RDEXFNFLDF
SIREFRDEXF
RDEXFWHGOF
  
High negative correlations   
CJCFFENDGF
WHGOFPUMXF
PUMXFNFLDF
SIREFNKOSF
ENDGFNKOSF
NFLDFNKOSF

Risk-Adjusted Indicators

There is a big difference between Mako OTC Stock performing well and Mako Mining OTC Stock 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 Mako Mining's 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
NKOSF  5.39  1.23  0.16  0.60  6.00 
 12.50 
 38.52 
NFLDF  5.59  0.11  0.02 (1.61) 6.43 
 11.11 
 35.84 
TLRS  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
PUMXF  3.45  0.21  0.02 (0.39) 5.26 
 16.67 
 36.67 
WHGOF  3.60  0.11  0.03 (0.49) 4.07 
 7.14 
 26.79 
ENDGF  1.15 (0.06) 0.00 (0.17) 0.00 
 0.00 
 29.29 
RDEXF  3.27  0.16  0.03  0.20  4.68 
 8.40 
 36.69 
SIREF  5.61  0.15  0.03 (0.23) 6.98 
 17.63 
 41.39 
AURQF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CJCFF  5.90  1.82  0.00  1.97  0.00 
 0.00 
 133.33 

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mako Mining 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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