Ridgestone Mining Correlations

RIGMF Stock

USD 0.08 0.0006 0.76%

The current 90-days correlation between Ridgestone Mining and Stans Energy Corp is -0.01 (i.e., Good diversification). The correlation of Ridgestone 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.

Ridgestone Mining Correlation With Market

Good diversification

The correlation between Ridgestone Mining and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ridgestone Mining and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Ridgestone Pink Sheet

0.71	RIO	Rio Tinto ADR	Pair Corr
0.66	TCTZF	Tencent Holdings	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.62	KO	Coca Cola	Pair Corr
0.61	VZ	Verizon Communications	Pair Corr
0.64	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr
0.65	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Ridgestone Pink Sheet

0.81	DIS	Walt Disney	Pair Corr
0.68	AXP	American Express Sell-off Trend	Pair Corr
0.66	MSFT	Microsoft	Pair Corr
0.63	HPQ	HP Inc	Pair Corr
0.62	GLNCY	Glencore PLC ADR	Pair Corr
0.6	GLCNF	Glencore PLC	Pair Corr
0.55	BAC	Bank of America Sell-off Trend	Pair Corr
0.49	AA	Alcoa Corp	Pair Corr
0.37	BA	Boeing	Pair Corr

Related Correlations Analysis

	ZNCXF	SCCFF	NWIFF	QNICF	STSBF	NCPCF	FCSMF	JRVMF	ATUSF	CBULF
ZNCXF		-0.26	0.22	-0.11	-0.8	-0.2	0.61	0.41	-0.03	-0.83	ZNCXF
SCCFF	-0.26		0.56	0.37	0.37	0.0	0.08	-0.07	0.59	0.55	SCCFF
NWIFF	0.22	0.56		0.13	-0.11	-0.15	0.3	0.46	0.72	0.0	NWIFF
QNICF	-0.11	0.37	0.13		0.19	-0.07	-0.16	0.0	0.4	0.4	QNICF
STSBF	-0.8	0.37	-0.11	0.19		0.25	-0.5	-0.45	0.1	0.75	STSBF
NCPCF	-0.2	0.0	-0.15	-0.07	0.25		-0.03	-0.49	-0.24	0.08	NCPCF
FCSMF	0.61	0.08	0.3	-0.16	-0.5	-0.03		0.05	0.12	-0.5	FCSMF
JRVMF	0.41	-0.07	0.46	0.0	-0.45	-0.49	0.05		0.36	-0.38	JRVMF
ATUSF	-0.03	0.59	0.72	0.4	0.1	-0.24	0.12	0.36		0.27	ATUSF
CBULF	-0.83	0.55	0.0	0.4	0.75	0.08	-0.5	-0.38	0.27		CBULF
	ZNCXF	SCCFF	NWIFF	QNICF	STSBF	NCPCF	FCSMF	JRVMF	ATUSF	CBULF

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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

CBULF	+ 0.75	STSBF
ATUSF	+ 0.72	NWIFF
FCSMF	+ 0.61	ZNCXF
ATUSF	+ 0.59	SCCFF
NWIFF	+ 0.56	SCCFF
CBULF	+ 0.55	SCCFF

High negative correlations

CBULF	- 0.83	ZNCXF
STSBF	- 0.8	ZNCXF
CBULF	- 0.5	FCSMF
FCSMF	- 0.5	STSBF
JRVMF	- 0.49	NCPCF
JRVMF	- 0.45	STSBF

Risk-Adjusted Indicators

There is a big difference between Ridgestone Pink Sheet performing well and Ridgestone 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 Ridgestone 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
ZNCXF	1.59	0.39	0.00	(4.57)	0.00	0.00	0.00	0.00	47.62
SCCFF	0.38	(0.18)	0.00	(0.55)	0.00	0.00	0.00	0.00	12.77
NWIFF	8.08	2.64	0.00	1.00	0.00	0.00	1.52	0.00	270.75
QNICF	4.61	(0.48)	0.00	2.75	0.00	0.00	0.00	(15.38)	191.17
STSBF	5.29	0.56	0.06	0.38	5.60	(10.19)	13.79	(10.00)	45.71
NCPCF	3.27	0.20	0.03	(0.47)	4.82	(7.94)	8.57	(8.11)	49.52
FCSMF	5.30	0.37	0.02	0.07	6.59	(17.70)	20.00	(16.67)	47.62
JRVMF	1.78	0.39	0.00	(2.34)	0.00	0.00	12.50	(4.35)	32.32
ATUSF	1.46	0.05	0.04	0.10	2.08	(1.54)	3.06	(3.60)	13.88
CBULF	5.00	(0.55)	0.00	3.99	0.00	0.00	14.29	(12.02)	36.86

Be your own money manager

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