West African Correlations

WFRSF Stock

USD 1.25 0.16 11.35%

The current 90-days correlation between West African Resources and Regis Resources is -0.1 (i.e., Good diversification). The correlation of West African 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.

West African Correlation With Market

Good diversification

The correlation between West African Resources and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding West African Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with West Pink Sheet

0.81	NEM	Newmont Goldcorp Corp	Pair Corr
0.84	AEM	Agnico Eagle Mines	Pair Corr
0.88	ZIJMY	Zijin Mining Group	Pair Corr
0.81	ZIJMF	Zijin Mining Group	Pair Corr
0.84	WPM	Wheaton Precious Metals	Pair Corr
0.83	GOLD	Barrick Gold Corp	Pair Corr
0.84	AU	AngloGold Ashanti plc	Pair Corr
0.66	WM	Waste Management	Pair Corr
0.63	HROWM	Harrow Health, 11875	Pair Corr
0.77	GTN	Gray Television	Pair Corr
0.69	CVX	Chevron Corp	Pair Corr
0.7	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.71	JNJ	Johnson Johnson	Pair Corr
0.72	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.63	TRV	The Travelers Companies	Pair Corr

Moving against West Pink Sheet

0.36	BA	Boeing	Pair Corr
0.84	DIS	Walt Disney	Pair Corr
0.75	MSFT	Microsoft Aggressive Push	Pair Corr
0.7	HPQ	HP Inc	Pair Corr
0.63	AXP	American Express	Pair Corr
0.6	HD	Home Depot	Pair Corr
0.52	AA	Alcoa Corp	Pair Corr
0.52	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	HMY	AU	GFI	KGC	NESRF	RGRNF	DPMLF	MGMLF	OGNRF
HMY		0.96	0.93	0.92	0.86	0.9	0.83	0.49	0.7	HMY
AU	0.96		0.97	0.95	0.84	0.9	0.89	0.44	0.71	AU
GFI	0.93	0.97		0.89	0.82	0.87	0.96	0.36	0.63	GFI
KGC	0.92	0.95	0.89		0.81	0.84	0.76	0.48	0.72	KGC
NESRF	0.86	0.84	0.82	0.81		0.81	0.75	0.52	0.76	NESRF
RGRNF	0.9	0.9	0.87	0.84	0.81		0.82	0.37	0.67	RGRNF
DPMLF	0.83	0.89	0.96	0.76	0.75	0.82		0.25	0.53	DPMLF
MGMLF	0.49	0.44	0.36	0.48	0.52	0.37	0.25		0.51	MGMLF
OGNRF	0.7	0.71	0.63	0.72	0.76	0.67	0.53	0.51		OGNRF
	HMY	AU	GFI	KGC	NESRF	RGRNF	DPMLF	MGMLF	OGNRF

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Risk-Adjusted Indicators

There is a big difference between West Pink Sheet performing well and West African 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 West African'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
HMY	2.25	0.56	0.21	(4.10)	2.32	(2.48)	5.01	(4.36)	13.50
AU	2.04	0.60	0.28	2.07	1.75	(2.36)	4.73	(3.33)	12.42
GFI	2.00	0.60	0.31	(35.55)	1.75	(2.36)	4.18	(2.88)	10.30
KGC	1.92	0.38	0.13	0.70	2.45	(1.93)	4.85	(4.94)	12.67
NESRF	1.96	0.16	0.04	5.03	2.96	(2.75)	5.27	(5.45)	21.03
RGRNF	3.31	0.60	0.08	(1.29)	3.70	(7.06)	10.45	(7.83)	35.42
DPMLF	1.34	0.50	0.32	(1.63)	1.20	(1.52)	3.06	(2.64)	8.00
MGMLF	5.15	0.30	0.04	0.15	6.32	(5.91)	12.50	(10.00)	35.71
OGNRF	1.55	0.27	0.13	0.55	1.80	(1.92)	4.26	(2.73)	10.57

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