Spearmint Resources Correlations

SPMTF Stock  USD 0.01  0  15.38%   
The current 90-days correlation between Spearmint Resources and Decade Resources is -0.06 (i.e., Good diversification). The correlation of Spearmint Resources 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.

Spearmint Resources Correlation With Market

Significant diversification

The correlation between Spearmint Resources and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Spearmint Resources and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Spearmint Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Spearmint Resources 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 Spearmint Resources - 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 Spearmint Resources to buy it.

Moving together with Spearmint Pink Sheet

  0.67GLCNF Glencore PLCPairCorr
  0.66GLNCY Glencore PLC ADRPairCorr
  0.67AA Alcoa CorpPairCorr

Moving against Spearmint Pink Sheet

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  0.78BFAM Bright Horizons FamilyPairCorr
  0.71RSLBF RaySearch LaboratoriesPairCorr
  0.67PLD PrologisPairCorr
  0.65UBER Uber TechnologiesPairCorr
  0.59CYBQF CYBERDYNEPairCorr
  0.47LAUR Laureate EducationPairCorr
  0.41GOLD Barrick Gold CorpPairCorr
  0.68CSCO Cisco SystemsPairCorr
  0.59T ATT IncPairCorr
  0.55PFE Pfizer IncPairCorr
  0.55IBM International BusinessPairCorr
  0.53KO Coca ColaPairCorr
  0.47JPM JPMorgan ChasePairCorr
  0.44CVX Chevron CorpPairCorr
  0.36VZ Verizon Communications Sell-off TrendPairCorr

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   
VLTMFRAREF
MUNMFRAREF
SSEBFDECXF
VLTMFMUNMF
RAREFMSMGF
MUNMFDECXF
  
High negative correlations   
FGOVFVLTMF
FGOVFRAREF
FGOVFMSMGF
VLTMFDECXF
ESVNFMUNMF
FGOVFMUNMF

Risk-Adjusted Indicators

There is a big difference between Spearmint Pink Sheet performing well and Spearmint Resources 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 Spearmint Resources' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DECXF  6.04  1.31  0.03  0.09  9.44 
 15.38 
 122.57 
VDMRF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
SSEBF  7.93  0.41  0.03 (1.50) 10.82 
 22.50 
 104.63 
MSMGF  4.68  0.48  0.07  16.71  5.32 
 14.89 
 51.71 
RAREF  3.03 (0.07) 0.00  0.02  0.00 
 0.00 
 150.00 
MUNMF  2.08 (0.27) 0.00 (2.44) 0.00 
 8.33 
 26.52 
NRRMF  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
ESVNF  581.98  297.19  5.73 (238.73) 11.78 
 30.00 
 9,999 
VLTMF  2.95 (1.43) 0.00  0.42  0.00 
 0.00 
 63.50 
FGOVF  3.98  0.43  0.09  0.25  4.20 
 8.33 
 24.70 

Be your own money manager

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