Atalaya Mining Correlations

ATYM Stock

655.00 10.00 1.55%

The current 90-days correlation between Atalaya Mining and Wizz Air Holdings is -0.03 (i.e., Good diversification). The correlation of Atalaya Mining 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Atalaya Mining Correlation With Market

Modest diversification

The correlation between Atalaya Mining and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Atalaya Mining and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Atalaya Stock

0.98	ANTO	Antofagasta PLC	Pair Corr
0.91	THX	Thor Explorations	Pair Corr
0.62	AMRQ	Amaroq Minerals	Pair Corr
0.91	BC94	Samsung Electronics Earnings Call This Week	Pair Corr
0.91	SMSN	Samsung Electronics Earnings Call This Week	Pair Corr
0.9	SMSD	Samsung Electronics Earnings Call This Week	Pair Corr
0.81	TYT	Toyota Motor Corp	Pair Corr
0.94	KAP	National Atomic	Pair Corr
0.77	HHPD	Hon Hai Precision	Pair Corr
0.89	0HCI	Alibaba Group Holding	Pair Corr
0.95	0R0U	Coeur Mining Earnings Call This Week	Pair Corr
0.88	GGP	Greatland Resources	Pair Corr
0.89	0UYN	GoldMining	Pair Corr
0.83	JUP	Jupiter Fund Management	Pair Corr
0.91	0R15	SoftBank Group Corp	Pair Corr

Moving against Atalaya Stock

0.9

0QJS

Clariant AG Earnings Call This Week

Pair Corr

Related Correlations Analysis

	0HC3	WIZZ	PRV	AA4	0KS3	0RYA	0R1G	0RIP
0HC3		0.71	-0.78	0.21	-0.3	0.83	0.55	0.48	0HC3
WIZZ	0.71		-0.58	0.3	-0.49	0.57	0.23	0.45	WIZZ
PRV	-0.78	-0.58		-0.1	0.43	-0.74	-0.53	-0.48	PRV
AA4	0.21	0.3	-0.1		0.24	0.11	0.55	-0.4	AA4
0KS3	-0.3	-0.49	0.43	0.24		-0.48	0.04	-0.73	0KS3
0RYA	0.83	0.57	-0.74	0.11	-0.48		0.61	0.64	0RYA
0R1G	0.55	0.23	-0.53	0.55	0.04	0.61		0.0	0R1G
0RIP	0.48	0.45	-0.48	-0.4	-0.73	0.64	0.0		0RIP
	0HC3	WIZZ	PRV	AA4	0KS3	0RYA	0R1G	0RIP

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

0RYA	+ 0.83	0HC3
WIZZ	+ 0.71	0HC3
0RIP	+ 0.64	0RYA
0R1G	+ 0.61	0RYA
0RYA	+ 0.57	WIZZ
0R1G	+ 0.55	0HC3

High negative correlations

PRV	- 0.78	0HC3
0RYA	- 0.74	PRV
0RIP	- 0.73	0KS3
PRV	- 0.58	WIZZ
0R1G	- 0.53	PRV
0KS3	- 0.49	WIZZ

Risk-Adjusted Indicators

There is a big difference between Atalaya Stock performing well and Atalaya Mining 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 Atalaya Mining'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
0HC3	1.82	(0.14)	0.00	(0.24)	0.00	0.00	2.72	(3.72)	15.87
WIZZ	1.74	0.03	0.00	0.13	1.84	(2.26)	4.13	(3.22)	16.17
PRV	1.00	0.08	0.02	2.63	1.65	(0.96)	2.51	(2.43)	7.81
AA4	0.56	0.15	0.09	(2.46)	0.54	(0.89)	1.94	(0.68)	6.43
0KS3	0.95	0.09	0.03	0.41	1.54	(0.95)	1.68	(1.83)	7.63
0RYA	0.09	(0.03)	0.00	2.82	0.00	0.00	0.00	0.00	3.42
0R1G	1.02	0.11	0.06	(1.65)	0.89	(1.32)	2.72	(1.75)	6.05
0RIP	1.11	(0.15)	0.00	1.72	0.00	0.00	1.84	(2.51)	11.94

Be your own money manager

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