Clean Air Correlations
| AIR Stock | 0.08 0.01 6.67% |
The current 90-days correlation between Clean Air Metals and Silver North Resources is -0.04 (i.e., Good diversification). The correlation of Clean Air 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.
Clean Air Correlation With Market
Poor diversification
The correlation between Clean Air Metals and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Clean Air Metals and DJI in the same portfolio, assuming nothing else is changed.
Clean |
The ability to find closely correlated positions to Clean Air could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Clean Air 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 Clean Air - 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 Clean Air Metals to buy it.
Moving together with Clean Stock
| 0.68 | AG | First Majestic Silver | PairCorr |
| 0.86 | IE | Ivanhoe Energy Earnings Call This Week | PairCorr |
| 0.64 | ORE | Orezone Gold Corp | PairCorr |
| 0.68 | FDY | Faraday Copper Corp | PairCorr |
| 0.66 | PJX | PJX Resources | PairCorr |
| 0.61 | MSG | Mithril Silver | PairCorr |
| 0.69 | ROCK | Rockridge Resources | PairCorr |
| 0.81 | QNC | Quantum eMotion Corp | PairCorr |
| 0.87 | SBI | Serabi Gold PLC | PairCorr |
| 0.87 | TRU | Trius Investments | PairCorr |
| 0.72 | CU-PH | Canadian Utilities Earnings Call This Week | PairCorr |
| 0.68 | MS | Morgan Stanley CDR | PairCorr |
| 0.69 | YES | CHAR Technologies | PairCorr |
| 0.63 | LOVE | Cannara Biotech | PairCorr |
| 0.75 | PDV | Prime Dividend Corp | PairCorr |
| 0.62 | PGDC | Patagonia Gold Corp | PairCorr |
| 0.65 | RKR | ROKMASTER Resources Corp | PairCorr |
| 0.84 | NICU | Magna Mining | PairCorr |
Moving against Clean Stock
Related Correlations Analysis
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Clean Stock performing well and Clean Air 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 Clean Air'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SNAG | 4.33 | 0.42 | 0.04 | (0.25) | 4.77 | 14.29 | 33.33 | |||
| RRI | 4.12 | 0.12 | 0.03 | 0.13 | 3.88 | 10.00 | 50.10 | |||
| SHL | 8.69 | 3.59 | 0.26 | (1.89) | 6.17 | 25.00 | 75.53 | |||
| TSLV | 3.62 | 0.13 | 0.01 | 0.30 | 3.95 | 11.11 | 35.58 | |||
| CLCO | 3.17 | 0.40 | 0.08 | 0.36 | 3.08 | 8.33 | 26.41 | |||
| CAM | 3.95 | 0.58 | 0.09 | 0.42 | 4.24 | 8.70 | 36.44 | |||
| OMM | 6.51 | 1.39 | 0.13 | 3.30 | 5.65 | 14.29 | 89.39 | |||
| GIGA | 5.86 | 0.55 | 0.05 | 1.27 | 5.71 | 16.67 | 35.38 | |||
| OZ | 4.85 | 0.31 | 0.06 | 0.17 | 5.52 | 12.00 | 36.89 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Clean Air 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.Did you try this?
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| All Next | Launch Module |
Clean Air Corporate Management
Elected by the shareholders, the Clean Air's board of directors comprises two types of representatives: Clean Air inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Clean. The board's role is to monitor Clean Air's management team and ensure that shareholders' interests are well served. Clean Air'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, Clean Air's outside directors are responsible for providing unbiased perspectives on the board's policies.