Namibia Critical Correlations

NMREF Stock  USD 0.03  0  14.00%   
The current 90-days correlation between Namibia Critical Metals and Benton Resources is 0.02 (i.e., Significant diversification). The correlation of Namibia Critical 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.

Namibia Critical Correlation With Market

Good diversification

The correlation between Namibia Critical Metals and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Namibia Critical Metals and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Namibia Critical could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Namibia Critical 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 Namibia Critical - 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 Namibia Critical Metals to buy it.

Moving together with Namibia Pink Sheet

  0.65ATCOL Atlas CorpPairCorr
  0.64GCMGW GCM GrosvenorPairCorr
  0.65CSCO Cisco SystemsPairCorr
  0.71JPM JPMorgan ChasePairCorr
  0.7GE GE AerospacePairCorr
  0.7MMM 3M CompanyPairCorr

Moving against Namibia Pink Sheet

  0.68PBCRY Bank Central AsiaPairCorr
  0.6PCTTW PureCycle Technologies Upward RallyPairCorr
  0.57PPERY Bank Mandiri PerseroPairCorr
  0.55PPERF Bank Mandiri PerseroPairCorr
  0.55PTAIY Astra International TbkPairCorr
  0.55PBCRF PT Bank CentralPairCorr
  0.5TLK Telkom Indonesia Tbk Downward RallyPairCorr
  0.43TLKMF Telkom Indonesia TbkPairCorr
  0.67MRK Merck Company Aggressive PushPairCorr
  0.34CAT CaterpillarPairCorr

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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Namibia Pink Sheet performing well and Namibia Critical 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 Namibia Critical'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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Namibia Critical 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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