Strategic Metals Correlations

SMD Stock

CAD 0.17 0.01 5.56%

The current 90-days correlation between Strategic Metals and Wilmington Capital Management is -0.06 (i.e., Good diversification). The correlation of Strategic 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.

The ability to find closely correlated positions to Strategic 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 Strategic 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 Strategic 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 Strategic Metals to buy it.

Moving together with Strategic Stock

0.71	ORE	Orezone Gold Corp	Pair Corr
0.8	TD	Toronto Dominion Bank	Pair Corr
0.78	BRK	Berkshire Hathaway CDR	Pair Corr

Moving against Strategic Stock

0.68	INFM	Infinico Metals Corp	Pair Corr
0.62	IE	Ivanhoe Energy	Pair Corr
0.58	MSFT	Microsoft Corp CDR	Pair Corr
0.48	NVDA	NVIDIA CDR	Pair Corr
0.47	AAPL	Apple Inc CDR	Pair Corr
0.38	GOOG	Alphabet CDR	Pair Corr

Related Correlations Analysis

	GYM	JUMP	WCM-A	VZ	JWEL	WI	NPTH	FRS-P
GYM		-1.0	0.0	0.0	0.0	0.0	0.0	0.0	GYM
JUMP	-1.0		0.0	0.0	0.0	0.0	0.0	0.0	JUMP
WCM-A	0.0	0.0		-0.66	0.75	-0.09	0.5	0.46	WCM-A
VZ	0.0	0.0	-0.66		-0.63	0.1	-0.46	-0.47	VZ
JWEL	0.0	0.0	0.75	-0.63		-0.56	0.16	0.46	JWEL
WI	0.0	0.0	-0.09	0.1	-0.56		0.46	0.06	WI
NPTH	0.0	0.0	0.5	-0.46	0.16	0.46		0.34	NPTH
FRS-P	0.0	0.0	0.46	-0.47	0.46	0.06	0.34		FRS-P
	GYM	JUMP	WCM-A	VZ	JWEL	WI	NPTH	FRS-P

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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

JWEL	+ 0.75	WCM-A
NPTH	+ 0.5	WCM-A
FRS-P	+ 0.46	WCM-A
FRS-P	+ 0.46	JWEL
NPTH	+ 0.46	WI
FRS-P	+ 0.34	NPTH

High negative correlations

JUMP	- 1.0	GYM
VZ	- 0.66	WCM-A
JWEL	- 0.63	VZ
WI	- 0.56	JWEL
FRS-P	- 0.47	VZ
NPTH	- 0.46	VZ

Risk-Adjusted Indicators

There is a big difference between Strategic Stock performing well and Strategic 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 Strategic 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
GYM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JUMP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
WCM-A	0.27	(0.09)	0.00	(1.13)	0.00	0.00	0.00	0.00	9.13
VZ	1.04	0.04	0.12	(0.31)	1.51	(1.22)	2.28	(2.16)	14.98
JWEL	1.41	(0.35)	0.00	(1.46)	0.00	0.00	2.52	(3.16)	8.88
WI	2.08	0.48	0.15	1.27	2.10	(3.71)	5.08	(4.92)	18.34
NPTH	2.86	0.25	0.04	0.05	2.99	(5.63)	5.56	(5.00)	15.79
FRS-P	0.30	(0.10)	0.00	(0.38)	0.00	0.00	0.00	0.00	10.00

Be your own money manager

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