Midland Exploration Correlations

MIDLF Stock

USD 0.42 0.05 13.51%

The current 90-days correlation between Midland Exploration and Garibaldi Resources Corp is 0.58 (i.e., Very weak diversification). The correlation of Midland Exploration 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.

Midland Exploration Correlation With Market

Good diversification

The correlation between Midland Exploration and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Midland Exploration and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Midland Pink Sheet

0.73	NIO	Nio Class A	Pair Corr
0.63	F	Ford Motor	Pair Corr
0.75	MPW	Medical Properties Trust	Pair Corr
0.69	TLRY	Tilray Inc Aggressive Push	Pair Corr
0.69	INTC	Intel	Pair Corr
0.69	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.66	BAC	Bank of America Earnings Call This Week	Pair Corr
0.61	CAT	Caterpillar	Pair Corr
0.61	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr

Moving against Midland Pink Sheet

0.64	ADVWW	Advantage Solutions	Pair Corr
0.39	PCTTW	PureCycle Technologies	Pair Corr
0.67	KO	Coca Cola	Pair Corr
0.48	BA	Boeing	Pair Corr
0.43	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	MTLFF	GGIFF	SLVDF	AOTVF	USGO	LGDTF	RVSDF
MTLFF		0.76	0.74	-0.65	0.87	0.95	0.77	MTLFF
GGIFF	0.76		0.67	-0.53	0.64	0.83	0.66	GGIFF
SLVDF	0.74	0.67		-0.71	0.52	0.74	0.51	SLVDF
AOTVF	-0.65	-0.53	-0.71		-0.41	-0.65	-0.41	AOTVF
USGO	0.87	0.64	0.52	-0.41		0.85	0.87	USGO
LGDTF	0.95	0.83	0.74	-0.65	0.85		0.78	LGDTF
RVSDF	0.77	0.66	0.51	-0.41	0.87	0.78		RVSDF
	MTLFF	GGIFF	SLVDF	AOTVF	USGO	LGDTF	RVSDF

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

LGDTF	+ 0.95	MTLFF
USGO	+ 0.87	MTLFF
RVSDF	+ 0.87	USGO
LGDTF	+ 0.85	USGO
LGDTF	+ 0.83	GGIFF
RVSDF	+ 0.78	LGDTF

High negative correlations

AOTVF	- 0.71	SLVDF
LGDTF	- 0.65	AOTVF
AOTVF	- 0.65	MTLFF
AOTVF	- 0.53	GGIFF
RVSDF	- 0.41	AOTVF
USGO	- 0.41	AOTVF

Risk-Adjusted Indicators

There is a big difference between Midland Pink Sheet performing well and Midland Exploration 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 Midland Exploration'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
MTLFF	5.18	1.27	0.19	0.58	4.51	(7.91)	13.33	(6.25)	32.94
GGIFF	13.05	4.18	0.13	(0.39)	11.19	(37.11)	44.44	(30.00)	176.19
SLVDF	5.85	1.00	0.11	(0.41)	6.61	(7.62)	11.76	(13.79)	42.26
AOTVF	2.63	0.03	0.00	0.00	0.00	0.00	0.00	(16.67)	58.33
USGO	3.14	0.88	0.33	0.85	2.21	(3.95)	7.62	(4.26)	32.51
LGDTF	3.44	1.24	0.31	(10.11)	2.14	(6.18)	8.00	(4.00)	24.69
RVSDF	2.51	0.17	0.02	0.15	3.02	(8.50)	8.33	(7.69)	20.54

Be your own money manager

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