Slave Lake Correlations

SLZNF Stock

USD 0.03 0.01 16.42%

The current 90-days correlation between Slave Lake Zinc and Happy Creek Minerals is -0.04 (i.e., Good diversification). The correlation of Slave Lake 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.

Slave Lake Correlation With Market

Average diversification

The correlation between Slave Lake Zinc and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Slave Lake Zinc and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Slave Pink Sheet

0.58	PBCRY	Bank Central Asia	Pair Corr
0.52	RTPPF	Rio Tinto Group	Pair Corr
0.47	BKRKF	PT Bank Rakyat	Pair Corr
0.41	RIO	Rio Tinto ADR	Pair Corr
0.4	TLK	Telkom Indonesia Tbk	Pair Corr
0.34	PPERY	Bank Mandiri Persero	Pair Corr
0.33	PBCRF	PT Bank Central	Pair Corr
0.31	BHP	BHP Group Limited	Pair Corr
0.31	RTNTF	Rio Tinto Group	Pair Corr
0.6	SLROF	Stellar Resources	Pair Corr
0.44	SRGZ	Star Gold Corp	Pair Corr
0.42	EXC	Exelon	Pair Corr
0.35	PTNDY	Vale Indonesia Tbk	Pair Corr
0.32	IREN	IREN Earnings Call This Week	Pair Corr
0.44	DLTTF	Dalata Hotel Group	Pair Corr
0.4	CLNN	Clene Inc	Pair Corr
0.38	CHYI	Chykingyoung Investment	Pair Corr
0.36	SNOW	Snowflake	Pair Corr

Related Correlations Analysis

	HPYCF	CNOBF	PXCLF	LILIF	LTHIF	PREM	EOXFF	RBMTF	THORF	EUMNF
HPYCF		0.34	0.2	0.21	0.23	0.04	-0.03	0.0	0.19	-0.02	HPYCF
CNOBF	0.34		0.57	0.83	0.69	-0.38	0.48	0.0	0.47	-0.06	CNOBF
PXCLF	0.2	0.57		0.57	0.36	-0.33	0.12	0.0	0.28	0.13	PXCLF
LILIF	0.21	0.83	0.57		0.82	-0.26	0.57	0.0	0.45	0.11	LILIF
LTHIF	0.23	0.69	0.36	0.82		-0.04	0.61	0.0	0.4	0.23	LTHIF
PREM	0.04	-0.38	-0.33	-0.26	-0.04		-0.07	0.0	-0.23	0.14	PREM
EOXFF	-0.03	0.48	0.12	0.57	0.61	-0.07		0.0	0.24	0.0	EOXFF
RBMTF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	RBMTF
THORF	0.19	0.47	0.28	0.45	0.4	-0.23	0.24	0.0		0.12	THORF
EUMNF	-0.02	-0.06	0.13	0.11	0.23	0.14	0.0	0.0	0.12		EUMNF
	HPYCF	CNOBF	PXCLF	LILIF	LTHIF	PREM	EOXFF	RBMTF	THORF	EUMNF

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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

LILIF	+ 0.83	CNOBF
LTHIF	+ 0.82	LILIF
LTHIF	+ 0.69	CNOBF
EOXFF	+ 0.61	LTHIF
PXCLF	+ 0.57	CNOBF
LILIF	+ 0.57	PXCLF

High negative correlations

PREM	- 0.38	CNOBF
PREM	- 0.33	PXCLF
PREM	- 0.26	LILIF
THORF	- 0.23	PREM
EOXFF	- 0.07	PREM
EUMNF	- 0.06	CNOBF

Risk-Adjusted Indicators

There is a big difference between Slave Pink Sheet performing well and Slave Lake 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 Slave Lake'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
HPYCF	21.04	7.79	0.24	(3.87)	13.94	(65.39)	40.00	(24.00)	553.93
CNOBF	3.19	0.69	0.00	101.03	0.00	0.00	7.21	0.00	84.99
PXCLF	19.40	7.13	0.00	(1.16)	0.00	0.00	23.84	(26.71)	529.57
LILIF	5.96	0.63	0.07	0.43	7.01	(6.80)	16.79	(11.42)	40.60
LTHIF	162.39	82.83	1.54	(4.65)	13.14	(943.83)	36.36	(39.17)	5,416
PREM	11.25	1.56	0.10	(0.61)	12.17	(15.13)	28.00	(23.91)	69.26
EOXFF	8.45	1.69	0.00	0.76	0.00	0.00	17.65	(20.00)	156.25
RBMTF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
THORF	34.63	15.20	0.44	(2.93)	17.17	(82.15)	31.58	(26.61)	1,035
EUMNF	4.61	0.17	0.02	0.12	4.84	(11.43)	9.09	(8.33)	42.66

Be your own money manager

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