Homeland Resources Correlations
| HMLA Stock | USD 0.0001 0.00 0.00% |
The correlation of Homeland 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.
Homeland Resources Correlation With Market
Very good diversification
The correlation between Homeland Resources and DJI is -0.3 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Homeland Resources and DJI in the same portfolio, assuming nothing else is changed.
Homeland |
The ability to find closely correlated positions to Homeland 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 Homeland 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 Homeland 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 Homeland Resources to buy it.
Moving against Homeland Pink Sheet
| 0.74 | CNQ | Canadian Natural Res | PairCorr |
| 0.66 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.65 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
| 0.64 | PG | Procter Gamble | PairCorr |
| 0.63 | JNJ | Johnson Johnson | PairCorr |
| 0.6 | KO | Coca Cola Earnings Call This Week | PairCorr |
| 0.56 | EOG | EOG Resources Sell-off Trend | PairCorr |
| 0.55 | OXY | Occidental Petroleum | PairCorr |
| 0.54 | COP | ConocoPhillips Sell-off Trend | PairCorr |
| 0.53 | DD | Dupont De Nemours | PairCorr |
| 0.5 | VZ | Verizon Communications Aggressive Push | PairCorr |
| 0.48 | WMT | Walmart Common Stock Earnings Call This Week | PairCorr |
| 0.41 | T | ATT Inc Aggressive Push | PairCorr |
| 0.39 | HES | Hess | PairCorr |
| 0.38 | MRK | Merck Company Sell-off Trend | PairCorr |
| 0.32 | BA | Boeing | PairCorr |
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
|
Risk-Adjusted Indicators
There is a big difference between Homeland Pink Sheet performing well and Homeland 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 Homeland 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DKLRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| EMBYF | 3.58 | 1.95 | 0.00 | (0.88) | 0.00 | 0.00 | 120.00 | |||
| MNAP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GSPE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AERN | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ONTRF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AECFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ODEFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AOGC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| AEDC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Homeland Resources Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Homeland Resources pink sheet to make a market-neutral strategy. Peer analysis of Homeland Resources could also be used in its relative valuation, which is a method of valuing Homeland Resources by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |