South Pacific Correlations

Stocks . Canada . 
Stock . South Pacific Metals
SPMC Stock   0.45  0.03  6.25%   
The current 90-days correlation between South Pacific Metals and Canaf Investments is 0.05 (i.e., Significant diversification). The correlation of South Pacific 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.

South Pacific Correlation With Market

Good diversification

The correlation between South Pacific Metals and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding South Pacific Metals and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to South Pacific could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace South Pacific 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 South Pacific - 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 South Pacific Metals to buy it.

Moving against South Stock

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  0.66NPTH NeuPath HealthPairCorr
  0.62FFH-PF Fairfax FinancialPairCorr
  0.57WMT Walmart Inc CDRPairCorr
  0.56TCS TECSYS IncPairCorr
  0.54PRU Perseus MiningPairCorr
  0.46NOA North American ConstPairCorr
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  0.41NICU Magna MiningPairCorr
  0.38ECN ECN Capital CorpPairCorr
  0.36RY-PJ Royal BankPairCorr
  0.72WI Western InvestmentPairCorr
  0.57FC Firm Capital MortgagePairCorr
  0.57OM Osisko MetalsPairCorr
  0.57VLE Valeura EnergyPairCorr
  0.51ERE-UN European Residential RealPairCorr
  0.49Y Yellow Pages LimitedPairCorr

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   
IGBT-UN
+ 0.79
AI
WI
+ 0.68
AVGO
DIV
+ 0.43
CAF
IGBT-UN
+ 0.23
DIV
CNJ-P
+ 0.0
AVGO
CNJ-P
+ 0.0
CAF
  
High negative correlations   
DIV
- 0.5
AVGO
AI
- 0.47
CAF
WI
- 0.39
DIV
IGBT-UN
- 0.33
AVGO
WI
- 0.32
CAF
AI
- 0.22
AVGO

Risk-Adjusted Indicators

There is a big difference between South Stock performing well and South Pacific 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 South Pacific'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 South Pacific 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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South Pacific Corporate Management

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