Spanish Mountain Correlations

SPAZF Stock

USD 0.1 0.01 7.35%

The current 90-days correlation between Spanish Mountain Gold and Maple Gold Mines is 0.05 (i.e., Significant diversification). The correlation of Spanish Mountain 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.

Spanish Mountain Correlation With Market

Significant diversification

The correlation between Spanish Mountain Gold and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spanish Mountain Gold and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Spanish OTC Stock

0.76	ATCOL	Atlas Corp	Pair Corr
0.71	GCMGW	GCM Grosvenor	Pair Corr
0.63	LH	Laboratory	Pair Corr
0.63	JPM	JPMorgan Chase	Pair Corr
0.73	MMM	3M Company	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.7	IBM	International Business	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr

Moving against Spanish OTC Stock

0.41	PCTTW	PureCycle Technologies	Pair Corr
0.35	AA	Alcoa Corp	Pair Corr
0.8	MRK	Merck Company Sell-off Trend	Pair Corr

Related Correlations Analysis

	ARBTF	ADGCF	ANKOF	AGRDF	BAUFF	ABNAF	TDRRF	MGMLF	WRLGF	SMAGF
ARBTF		0.0	0.5	0.15	0.66	0.29	0.04	0.48	0.34	0.56	ARBTF
ADGCF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	ADGCF
ANKOF	0.5	0.0		0.65	0.83	0.52	-0.14	-0.02	-0.08	0.34	ANKOF
AGRDF	0.15	0.0	0.65		0.44	0.26	-0.02	-0.1	-0.11	0.28	AGRDF
BAUFF	0.66	0.0	0.83	0.44		0.38	0.02	0.24	0.26	0.65	BAUFF
ABNAF	0.29	0.0	0.52	0.26	0.38		-0.17	-0.04	-0.09	-0.14	ABNAF
TDRRF	0.04	0.0	-0.14	-0.02	0.02	-0.17		0.57	0.64	0.46	TDRRF
MGMLF	0.48	0.0	-0.02	-0.1	0.24	-0.04	0.57		0.79	0.55	MGMLF
WRLGF	0.34	0.0	-0.08	-0.11	0.26	-0.09	0.64	0.79		0.62	WRLGF
SMAGF	0.56	0.0	0.34	0.28	0.65	-0.14	0.46	0.55	0.62		SMAGF
	ARBTF	ADGCF	ANKOF	AGRDF	BAUFF	ABNAF	TDRRF	MGMLF	WRLGF	SMAGF

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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

BAUFF	+ 0.83	ANKOF
WRLGF	+ 0.79	MGMLF
BAUFF	+ 0.66	ARBTF
AGRDF	+ 0.65	ANKOF
SMAGF	+ 0.65	BAUFF
WRLGF	+ 0.64	TDRRF

High negative correlations

TDRRF	- 0.17	ABNAF
SMAGF	- 0.14	ABNAF
TDRRF	- 0.14	ANKOF
WRLGF	- 0.11	AGRDF
MGMLF	- 0.1	AGRDF
WRLGF	- 0.09	ABNAF

Risk-Adjusted Indicators

There is a big difference between Spanish OTC Stock performing well and Spanish Mountain OTC Stock 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 Spanish Mountain'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
ARBTF	1.73	0.24	0.05	0.62	2.42	(6.58)	8.33	(5.89)	25.36
ADGCF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ANKOF	4.14	1.51	0.20	0.70	3.56	(7.78)	14.56	(8.90)	29.88
AGRDF	1,042	435.89	0.00	(0.62)	0.00	0.00	0.00	0.00	0.00
BAUFF	4.59	1.97	0.25	0.90	2.71	(14.39)	23.05	(6.72)	56.19
ABNAF	3.27	0.44	0.06	(0.48)	4.08	(14.07)	15.46	(8.04)	44.75
TDRRF	3.26	0.05	0.04	0.25	3.12	(4.73)	6.52	(4.65)	17.31
MGMLF	4.66	0.29	0.04	0.17	5.56	(5.49)	10.20	(9.74)	30.41
WRLGF	2.74	0.20	0.04	0.12	3.94	(3.46)	5.00	(4.88)	23.81
SMAGF	2.04	0.26	0.08	0.85	2.20	(4.73)	7.69	(5.26)	15.71

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