Magna Mining Correlations

MGMNF Stock

1.02 0.03 2.86%

The current 90-days correlation between Magna Mining and Emerita Resources Corp is 0.35 (i.e., Weak diversification). The correlation of Magna 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.

Magna Mining Correlation With Market

Average diversification

The correlation between Magna Mining and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magna Mining and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Magna 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 Magna 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 Magna 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 Magna Mining to buy it.

Moving together with Magna Pink Sheet

0.66	DIS	Walt Disney Sell-off Trend	Pair Corr
0.75	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.63	WMT	Walmart Aggressive Push	Pair Corr
0.65	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.66	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Moving against Magna Pink Sheet

0.49	CTPR	CTPartners Executive	Pair Corr
0.69	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.54	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.53	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	EMOTF	STGDF	BCMRF	FNICF	YORKF	NVLIF	QNICF	BHLIF	AXVEF	NGXXF
EMOTF		0.0	0.29	0.39	-0.43	-0.02	-0.05	-0.6	-0.42	-0.28	EMOTF
STGDF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	STGDF
BCMRF	0.29	0.0		0.28	-0.4	0.4	-0.26	-0.46	-0.69	-0.59	BCMRF
FNICF	0.39	0.0	0.28		-0.42	0.2	0.08	-0.54	-0.56	-0.62	FNICF
YORKF	-0.43	0.0	-0.4	-0.42		-0.13	0.18	0.41	0.49	0.35	YORKF
NVLIF	-0.02	0.0	0.4	0.2	-0.13		0.2	-0.03	-0.27	-0.41	NVLIF
QNICF	-0.05	0.0	-0.26	0.08	0.18	0.2		0.11	0.15	-0.21	QNICF
BHLIF	-0.6	0.0	-0.46	-0.54	0.41	-0.03	0.11		0.74	0.57	BHLIF
AXVEF	-0.42	0.0	-0.69	-0.56	0.49	-0.27	0.15	0.74		0.63	AXVEF
NGXXF	-0.28	0.0	-0.59	-0.62	0.35	-0.41	-0.21	0.57	0.63		NGXXF
	EMOTF	STGDF	BCMRF	FNICF	YORKF	NVLIF	QNICF	BHLIF	AXVEF	NGXXF

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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

AXVEF	+ 0.74	BHLIF
NGXXF	+ 0.63	AXVEF
NGXXF	+ 0.57	BHLIF
AXVEF	+ 0.49	YORKF
BHLIF	+ 0.41	YORKF
NVLIF	+ 0.4	BCMRF

High negative correlations

AXVEF	- 0.69	BCMRF
NGXXF	- 0.62	FNICF
BHLIF	- 0.6	EMOTF
NGXXF	- 0.59	BCMRF
AXVEF	- 0.56	FNICF
BHLIF	- 0.54	FNICF

Risk-Adjusted Indicators

There is a big difference between Magna Pink Sheet performing well and Magna Mining 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 Magna 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EMOTF	2.41	(0.04)	(0.01)	0.09	2.60	(4.37)	7.32	(4.35)	19.46
STGDF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BCMRF	4.58	0.45	0.00	3.57	0.00	0.00	20.00	(16.67)	78.09
FNICF	4.24	(0.24)	0.00	0.57	0.00	0.00	11.42	(10.03)	36.56
YORKF	11.38	0.89	0.05	0.35	14.91	(21.59)	38.89	(34.00)	135.93
NVLIF	4.44	(0.13)	0.00	(0.36)	0.00	0.00	11.11	(9.37)	48.69
QNICF	2.95	(0.39)	0.00	(0.05)	0.00	0.00	3.50	0.00	133.99
BHLIF	0.21	(0.02)	0.00	0.03	0.00	0.00	0.00	0.00	6.88
AXVEF	2.63	0.53	0.00	0.50	0.00	0.00	9.09	(1.53)	58.33
NGXXF	1.64	0.32	0.09	(2.09)	1.64	(1.95)	3.83	(2.90)	10.14

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Our tools can tell you how much better you can do entering a position in Magna 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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Magna Mining Corporate Management

Paul CFA	Sr Sec	Profile
Mynyr PGeo	VP Exploration	Profile
David King	VP Services	Profile
Jason MBA	CEO Director	Profile

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