Strategic Resources Correlations

SCCFF Stock

USD 0.37 0.00 0.00%

The correlation of Strategic 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.

Strategic Resources Correlation With Market

Good diversification

The correlation between Strategic Resources and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategic Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Strategic Pink Sheet

0.64	BHP	BHP Group Limited	Pair Corr
0.69	RTNTF	Rio Tinto Group	Pair Corr
0.7	RTPPF	Rio Tinto Group	Pair Corr
0.69	RIO	Rio Tinto ADR	Pair Corr
0.69	GLCNF	Glencore PLC	Pair Corr
0.7	GLNCY	Glencore PLC ADR	Pair Corr
0.85	AAUKF	Anglo American plc Downward Rally	Pair Corr
0.82	TERN	Terns Pharmaceuticals	Pair Corr
0.66	VIVC	Vivic Corp	Pair Corr
0.68	WAY	Waystar Holding Corp Earnings Call This Week	Pair Corr
0.72	QCOM	Qualcomm Incorporated Earnings Call This Week	Pair Corr
0.65	UNFI	United Natural Foods	Pair Corr

Moving against Strategic Pink Sheet

0.47	DOCKF	Beyond Medical Techn	Pair Corr
0.45	MGMA	Metro Global Media	Pair Corr
0.31	RGVNF	Regent Ventures	Pair Corr

Related Correlations Analysis

	LTHIF	CTXDF	SXOOF	CATPF	MGPHF	ADXDF	BNTRF	SRCGF	FNCJF	KWGBF
LTHIF		-0.1	0.0	0.6	0.43	-0.2	0.61	0.28	-0.16	-0.3	LTHIF
CTXDF	-0.1		-0.15	-0.08	0.18	0.02	-0.01	0.28	-0.13	-0.32	CTXDF
SXOOF	0.0	-0.15		-0.22	0.23	-0.11	-0.01	0.15	0.11	0.26	SXOOF
CATPF	0.6	-0.08	-0.22		0.06	-0.04	0.42	0.07	-0.19	-0.2	CATPF
MGPHF	0.43	0.18	0.23	0.06		-0.35	0.51	0.26	-0.08	-0.15	MGPHF
ADXDF	-0.2	0.02	-0.11	-0.04	-0.35		-0.45	0.09	-0.29	-0.12	ADXDF
BNTRF	0.61	-0.01	-0.01	0.42	0.51	-0.45		0.35	-0.18	-0.45	BNTRF
SRCGF	0.28	0.28	0.15	0.07	0.26	0.09	0.35		-0.46	-0.5	SRCGF
FNCJF	-0.16	-0.13	0.11	-0.19	-0.08	-0.29	-0.18	-0.46		0.28	FNCJF
KWGBF	-0.3	-0.32	0.26	-0.2	-0.15	-0.12	-0.45	-0.5	0.28		KWGBF
	LTHIF	CTXDF	SXOOF	CATPF	MGPHF	ADXDF	BNTRF	SRCGF	FNCJF	KWGBF

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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

BNTRF	+ 0.61	LTHIF
CATPF	+ 0.6	LTHIF
BNTRF	+ 0.51	MGPHF
MGPHF	+ 0.43	LTHIF
BNTRF	+ 0.42	CATPF
SRCGF	+ 0.35	BNTRF

High negative correlations

KWGBF	- 0.5	SRCGF
FNCJF	- 0.46	SRCGF
KWGBF	- 0.45	BNTRF
BNTRF	- 0.45	ADXDF
ADXDF	- 0.35	MGPHF
KWGBF	- 0.32	CTXDF

Risk-Adjusted Indicators

There is a big difference between Strategic Pink Sheet performing well and Strategic 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 Strategic 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
LTHIF	159.91	74.37	0.00	1.24	0.00	0.00	1.40	(4.67)	5,394
CTXDF	2.31	(0.06)	0.00	(0.18)	0.00	0.00	8.33	(7.69)	23.38
SXOOF	5.00	0.32	0.03	(1.15)	5.27	(6.41)	12.82	(10.00)	31.36
CATPF	12.65	2.90	0.07	(0.99)	14.10	(40.61)	42.86	(41.67)	187.22
MGPHF	5.81	(0.08)	0.03	0.08	7.47	(6.55)	17.46	(9.88)	54.56
ADXDF	3.71	0.58	0.00	0.26	0.00	0.00	0.00	0.00	86.67
BNTRF	9.89	2.27	0.10	(0.66)	10.43	(19.09)	38.67	(18.87)	101.36
SRCGF	7.12	1.06	0.10	(1.91)	7.49	(9.67)	14.07	(16.46)	68.96
FNCJF	2.77	0.23	0.00	(0.21)	4.60	(13.20)	14.29	(14.29)	36.51
KWGBF	1.54	(0.63)	0.00	(1.37)	0.00	0.00	0.00	(7.14)	22.03

Be your own money manager

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