Arizona Metals Correlations

AMC Stock

0.75 0.03 3.85%

The current 90-days correlation between Arizona Metals Corp and NextSource Materials is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Arizona Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Arizona Metals Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Arizona Metals Correlation With Market

Poor diversification

The correlation between Arizona Metals Corp and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Arizona Metals Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Arizona Stock

0.83	AG	First Majestic Silver	Pair Corr
0.9	IE	Ivanhoe Energy	Pair Corr
0.81	ORE	Orezone Gold Corp	Pair Corr
0.92	FDY	Faraday Copper Corp	Pair Corr
0.72	PJX	PJX Resources	Pair Corr
0.77	MSG	Mithril Silver	Pair Corr
0.71	ROCK	Rockridge Resources	Pair Corr

Moving against Arizona Stock

0.62	CMC	Cielo Waste Solutions	Pair Corr
0.45	NZP	Chatham Rock Phosphate	Pair Corr

Related Correlations Analysis

	NEXT	CDB	ZNG	RCK	GRSL	WM	OCO	SLR	ETL
NEXT		-0.2	0.26	0.78	0.0	0.38	0.0	0.61	0.89	NEXT
CDB	-0.2		-0.64	-0.14	0.0	-0.29	0.0	-0.53	-0.33	CDB
ZNG	0.26	-0.64		0.24	0.0	0.74	0.0	0.82	0.39	ZNG
RCK	0.78	-0.14	0.24		0.0	0.51	0.0	0.58	0.89	RCK
GRSL	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	GRSL
WM	0.38	-0.29	0.74	0.51	0.0		0.0	0.78	0.53	WM
OCO	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	OCO
SLR	0.61	-0.53	0.82	0.58	0.0	0.78	0.0		0.7	SLR
ETL	0.89	-0.33	0.39	0.89	0.0	0.53	0.0	0.7		ETL
	NEXT	CDB	ZNG	RCK	GRSL	WM	OCO	SLR	ETL

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

ETL	+ 0.89	NEXT
ETL	+ 0.89	RCK
SLR	+ 0.82	ZNG
RCK	+ 0.78	NEXT
SLR	+ 0.78	WM
WM	+ 0.74	ZNG

High negative correlations

ZNG	- 0.64	CDB
SLR	- 0.53	CDB
ETL	- 0.33	CDB
WM	- 0.29	CDB
CDB	- 0.2	NEXT
RCK	- 0.14	CDB

Risk-Adjusted Indicators

There is a big difference between Arizona Stock performing well and Arizona Metals 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 Arizona Metals' 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
NEXT	3.47	0.25	0.06	0.28	3.36	(5.44)	8.33	(6.67)	20.95
CDB	2.63	0.08	0.02	0.14	3.00	(3.83)	6.25	(5.56)	16.46
ZNG	4.84	1.53	0.24	1.08	4.20	(6.73)	13.33	(6.06)	45.24
RCK	3.37	0.58	0.15	(1.86)	2.93	(4.59)	7.89	(4.60)	21.88
GRSL	5.55	1.54	0.23	1.15	5.27	(7.17)	16.67	(9.23)	33.19
WM	4.18	0.63	0.05	1.15	4.50	(11.46)	12.50	(11.11)	25.00
OCO	7.61	1.86	0.19	2.07	7.25	(12.64)	20.00	(9.09)	78.50
SLR	2.55	0.24	0.05	0.32	3.23	(3.12)	6.25	(5.56)	14.05
ETL	2.32	0.32	0.12	1.04	2.02	(3.11)	5.43	(3.37)	13.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in Arizona Metals 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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Arizona Metals Corporate Management

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

Marc Pais	President, Founder	Profile
Morgan Knowles	Vice Relations	Profile
CPG MBA	VP Exploration	Profile
Conor Dooley	Corporate Secretary	Profile

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