Rackla Metals Correlations

RAK Stock

CAD 0.14 0.02 16.67%

The current 90-days correlation between Rackla Metals and Nova Leap Health is 0.03 (i.e., Significant diversification). The correlation of Rackla Metals 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Rackla Metals Correlation With Market

Significant diversification

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

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

Moving together with Rackla Stock

0.63	IE	Ivanhoe Energy	Pair Corr
0.66	NVDA	NVIDIA CDR	Pair Corr
0.78	AMZN	Amazon CDR	Pair Corr
0.81	TSLA	Tesla Inc CDR	Pair Corr
0.67	GOOG	Alphabet CDR	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr

Moving against Rackla Stock

0.63

INFM

Infinico Metals Corp

Pair Corr

Related Correlations Analysis

	GH	EAGR	CNS	AGF-B	CUP-U	ELBM	NWH-UN	NLH
GH		-0.7	0.0	0.69	-0.29	-0.61	-0.45	0.06	GH
EAGR	-0.7		0.0	-0.52	0.16	0.59	0.27	-0.05	EAGR
CNS	0.0	0.0		0.0	0.0	0.0	0.0	0.0	CNS
AGF-B	0.69	-0.52	0.0		-0.48	-0.55	-0.31	0.49	AGF-B
CUP-U	-0.29	0.16	0.0	-0.48		0.41	0.65	-0.43	CUP-U
ELBM	-0.61	0.59	0.0	-0.55	0.41		0.42	-0.34	ELBM
NWH-UN	-0.45	0.27	0.0	-0.31	0.65	0.42		-0.23	NWH-UN
NLH	0.06	-0.05	0.0	0.49	-0.43	-0.34	-0.23		NLH
	GH	EAGR	CNS	AGF-B	CUP-U	ELBM	NWH-UN	NLH

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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

AGF-B	+ 0.69	GH
NWH-UN	+ 0.65	CUP-U
ELBM	+ 0.59	EAGR
NLH	+ 0.49	AGF-B
NWH-UN	+ 0.42	ELBM
ELBM	+ 0.41	CUP-U

High negative correlations

EAGR	- 0.7	GH
ELBM	- 0.61	GH
ELBM	- 0.55	AGF-B
AGF-B	- 0.52	EAGR
CUP-U	- 0.48	AGF-B
NWH-UN	- 0.45	GH

Risk-Adjusted Indicators

There is a big difference between Rackla Stock performing well and Rackla Metals 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 Rackla Metals' 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
GH	0.59	0.05	(0.08)	(14.11)	0.69	(0.76)	1.23	(1.52)	4.94
EAGR	2.39	(0.19)	0.00	(3.58)	0.00	0.00	7.14	(5.33)	16.26
CNS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AGF-B	1.52	0.50	0.28	0.98	1.08	(1.87)	3.66	(2.59)	10.72
CUP-U	0.77	0.01	(0.07)	0.26	1.03	(1.13)	2.03	(2.15)	6.74
ELBM	3.18	(0.32)	0.00	(0.15)	0.00	0.00	8.54	(6.59)	35.81
NWH-UN	1.04	(0.04)	0.00	(0.36)	0.00	0.00	2.43	(1.75)	6.78
NLH	2.32	(0.05)	0.00	0.47	0.00	0.00	6.67	(4.17)	18.37

Be your own money manager

Our tools can tell you how much better you can do entering a position in Rackla Metals 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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Rackla Metals Corporate Management

Elected by the shareholders, the Rackla Metals' board of directors comprises two types of representatives: Rackla Metals inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Rackla. The board's role is to monitor Rackla Metals' management team and ensure that shareholders' interests are well served. Rackla Metals' inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Rackla Metals' outside directors are responsible for providing unbiased perspectives on the board's policies.

MAusIMM MSc	Pres Director	Profile
Adam Buchanan	Vice Development	Profile
Kevin Bales	Chief Officer	Profile
Scott Casselman	Vice Exploration	Profile
Sally Whittall	Corporate Secretary	Profile

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