Sokoman Minerals Correlations
| SICNF Stock | USD 0.03 0 5.26% |
The current 90-days correlation between Sokoman Minerals Corp and Newmont Goldcorp Corp is 0.03 (i.e., Significant diversification). The correlation of Sokoman Minerals 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.
Sokoman Minerals Correlation With Market
Modest diversification
The correlation between Sokoman Minerals Corp and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sokoman Minerals Corp and DJI in the same portfolio, assuming nothing else is changed.
Sokoman |
The ability to find closely correlated positions to Sokoman Minerals could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Sokoman Minerals 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 Sokoman Minerals - 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 Sokoman Minerals Corp to buy it.
Moving against Sokoman OTC Stock
| 0.49 | FSTF | First State Financial | PairCorr |
| 0.37 | GFI | Gold Fields | PairCorr |
| 0.54 | AA | Alcoa Corp Buyout Trend | PairCorr |
| 0.52 | CSCO | Cisco Systems | PairCorr |
| 0.52 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.48 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.47 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.45 | HD | Home Depot | PairCorr |
| 0.45 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.33 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.31 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Risk-Adjusted Indicators
There is a big difference between Sokoman OTC Stock performing well and Sokoman Minerals OTC Stock 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 Sokoman Minerals' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NEM | 1.53 | (0.30) | 0.00 | (0.55) | 0.00 | 1.98 | 18.92 | |||
| AEM | 1.31 | (0.01) | 0.00 | 0.20 | 0.00 | 2.83 | 11.67 | |||
| GOLD | 1.50 | (0.23) | 0.00 | (0.41) | 0.00 | 2.55 | 9.58 | |||
| WPM | 1.38 | 0.02 | (0.03) | 0.18 | 2.00 | 2.47 | 10.52 | |||
| GFI | 2.16 | (0.20) | 0.00 | 25.41 | 0.00 | 4.21 | 14.93 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Sokoman Minerals 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?
Run Portfolio Backtesting Now
Portfolio BacktestingAvoid under-diversification and over-optimization by backtesting your portfolios |
| All Next | Launch Module |