Yangarra Resources Correlations

YGRAF Stock

USD 0.70 0.01 1.41%

The current 90-days correlation between Yangarra Resources and Kelt Exploration is 0.24 (i.e., Modest diversification). The correlation of Yangarra 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.

Yangarra Resources Correlation With Market

Significant diversification

The correlation between Yangarra 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 Yangarra Resources and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Yangarra 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 Yangarra 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 Yangarra 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 Yangarra Resources to buy it.

Moving against Yangarra Pink Sheet

0.4	DOX	Amdocs	Pair Corr
0.35	VZ	Verizon Communications	Pair Corr
0.33	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	TNEYF	DALXF	MEGEF	KELTF	BNGLF	ITEEF	QTEYF	PTRUF	PSHIF	ROKRF
TNEYF		0.79	0.54	0.85	0.33	0.0	-0.55	0.55	-0.43	0.7	TNEYF
DALXF	0.79		0.51	0.89	-0.08	0.0	-0.49	0.17	-0.25	0.53	DALXF
MEGEF	0.54	0.51		0.55	0.08	0.0	-0.2	0.12	-0.64	0.21	MEGEF
KELTF	0.85	0.89	0.55		0.18	0.0	-0.62	0.39	-0.38	0.53	KELTF
BNGLF	0.33	-0.08	0.08	0.18		0.0	-0.27	0.67	-0.41	0.39	BNGLF
ITEEF	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ITEEF
QTEYF	-0.55	-0.49	-0.2	-0.62	-0.27	0.0		-0.36	0.24	-0.28	QTEYF
PTRUF	0.55	0.17	0.12	0.39	0.67	0.0	-0.36		-0.38	0.51	PTRUF
PSHIF	-0.43	-0.25	-0.64	-0.38	-0.41	0.0	0.24	-0.38		-0.33	PSHIF
ROKRF	0.7	0.53	0.21	0.53	0.39	0.0	-0.28	0.51	-0.33		ROKRF
	TNEYF	DALXF	MEGEF	KELTF	BNGLF	ITEEF	QTEYF	PTRUF	PSHIF	ROKRF

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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

KELTF	+ 0.89	DALXF
KELTF	+ 0.85	TNEYF
DALXF	+ 0.79	TNEYF
ROKRF	+ 0.7	TNEYF
PTRUF	+ 0.67	BNGLF
PTRUF	+ 0.55	TNEYF

High negative correlations

PSHIF	- 0.64	MEGEF
QTEYF	- 0.62	KELTF
QTEYF	- 0.55	TNEYF
QTEYF	- 0.49	DALXF
PSHIF	- 0.43	TNEYF
PSHIF	- 0.41	BNGLF

Risk-Adjusted Indicators

There is a big difference between Yangarra Pink Sheet performing well and Yangarra 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 Yangarra 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TNEYF	1.58	0.03	0.00	(0.03)	0.00	0.00	2.98	(3.82)	10.85
DALXF	1.98	0.15	0.05	0.11	2.56	(2.15)	4.67	(3.79)	17.51
MEGEF	1.91	0.12	0.05	0.13	2.60	(2.06)	3.27	(3.83)	14.55
KELTF	1.85	0.15	0.04	0.04	2.52	(2.33)	4.96	(4.53)	12.60
BNGLF	2.57	0.15	0.00	(0.31)	0.00	0.00	0.00	0.00	66.03
ITEEF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
QTEYF	0.88	0.10	0.00	(0.66)	0.00	0.00	5.88	0.00	21.11
PTRUF	1.52	(0.12)	0.00	(0.71)	0.00	0.00	2.17	(4.17)	13.27
PSHIF	1.46	(0.03)	0.00	0.94	0.00	0.00	3.70	(3.57)	17.14
ROKRF	2.34	0.08	0.02	(1.34)	3.19	(8.68)	9.09	(8.33)	17.42

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