Mega Uranium Correlations

MGAFF Stock

USD 0.25 0.02 7.41%

The current 90-days correlation between Mega Uranium and ValOre Metals Corp is 0.08 (i.e., Significant diversification). The correlation of Mega Uranium 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.

Mega Uranium Correlation With Market

Significant diversification

The correlation between Mega Uranium 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 Mega Uranium and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Mega Uranium could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mega Uranium 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 Mega Uranium - 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 Mega Uranium to buy it.

Moving together with Mega Pink Sheet

0.73	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.61	DIS	Walt Disney	Pair Corr
0.68	HD	Home Depot	Pair Corr

Moving against Mega Pink Sheet

0.71	OPHLF	Ono Pharmaceutical	Pair Corr
0.64	ESALF	Eisai	Pair Corr
0.58	SGIOF	Shionogi	Pair Corr
0.57	DSKYF	Daiichi Sankyo	Pair Corr
0.54	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.54	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.47	SNPHF	Santen Pharmaceutical	Pair Corr
0.47	MZDAF	Mazda Motor	Pair Corr
0.44	ARE	Alexandria Real Estate	Pair Corr

Related Correlations Analysis

	PTUUF	KVLQF	ANLDF	ELVUF	AZURF	BSENF	AUEEF	APAAF	ALXEF	BNNLF
PTUUF		0.69	0.45	0.04	0.33	0.03	-0.15	0.1	0.28	0.11	PTUUF
KVLQF	0.69		0.66	0.3	0.59	0.1	0.2	0.47	0.4	0.47	KVLQF
ANLDF	0.45	0.66		0.12	0.57	-0.13	0.12	0.17	0.4	0.41	ANLDF
ELVUF	0.04	0.3	0.12		0.37	0.65	0.49	0.52	-0.22	0.77	ELVUF
AZURF	0.33	0.59	0.57	0.37		0.33	0.3	0.38	0.13	0.42	AZURF
BSENF	0.03	0.1	-0.13	0.65	0.33		0.24	0.41	-0.12	0.28	BSENF
AUEEF	-0.15	0.2	0.12	0.49	0.3	0.24		0.29	-0.29	0.47	AUEEF
APAAF	0.1	0.47	0.17	0.52	0.38	0.41	0.29		0.31	0.43	APAAF
ALXEF	0.28	0.4	0.4	-0.22	0.13	-0.12	-0.29	0.31		-0.09	ALXEF
BNNLF	0.11	0.47	0.41	0.77	0.42	0.28	0.47	0.43	-0.09		BNNLF
	PTUUF	KVLQF	ANLDF	ELVUF	AZURF	BSENF	AUEEF	APAAF	ALXEF	BNNLF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

BNNLF	+ 0.77	ELVUF
KVLQF	+ 0.69	PTUUF
ANLDF	+ 0.66	KVLQF
BSENF	+ 0.65	ELVUF
AZURF	+ 0.59	KVLQF
AZURF	+ 0.57	ANLDF

High negative correlations

ALXEF	- 0.29	AUEEF
ALXEF	- 0.22	ELVUF
AUEEF	- 0.15	PTUUF
BSENF	- 0.13	ANLDF
ALXEF	- 0.12	BSENF
BNNLF	- 0.09	ALXEF

Risk-Adjusted Indicators

There is a big difference between Mega Pink Sheet performing well and Mega Uranium 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 Mega Uranium'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PTUUF	5.43	0.46	0.04	2.78	5.67	(8.64)	11.76	(10.53)	27.19
KVLQF	5.89	1.34	0.18	(0.99)	4.94	(7.14)	13.50	(8.49)	44.69
ANLDF	5.67	1.16	0.08	1.07	5.35	(16.90)	20.00	(12.50)	52.50
ELVUF	5.84	0.20	0.02	0.36	6.54	(9.47)	11.76	(10.71)	52.86
AZURF	8.15	0.46	0.02	(0.25)	9.02	(11.54)	28.40	(15.93)	69.83
BSENF	4.95	(0.15)	0.00	(0.05)	0.00	0.00	11.76	(11.22)	36.36
AUEEF	6.53	0.70	0.04	0.32	8.58	(20.63)	20.00	(24.17)	110.75
APAAF	6.62	0.82	0.07	(2.36)	7.77	(7.84)	22.74	(12.50)	48.96
ALXEF	7.66	1.37	0.10	(0.39)	8.04	(10.78)	24.32	(15.64)	53.92
BNNLF	2.89	0.14	0.05	0.22	2.91	(3.45)	7.94	(4.41)	19.20

Be your own money manager

Our tools can tell you how much better you can do entering a position in Mega Uranium 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.

Did you try this?

Run Competition Analyzer Now

Competition Analyzer

Analyze and compare many basic indicators for a group of related or unrelated entities

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC