Ameriwest Lithium Correlations
| AWLIF Stock | | | USD 0.20 0.01 5.26% |
The current 90-days correlation between Ameriwest Lithium and Global Helium Corp is 0.13 (i.e., Average diversification). The correlation of Ameriwest Lithium 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.
Ameriwest Lithium Correlation With Market
Significant diversification
The correlation between Ameriwest Lithium and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ameriwest Lithium and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Ameriwest Lithium could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Ameriwest Lithium 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 Ameriwest Lithium - 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 Ameriwest Lithium to buy it.
Moving against Ameriwest Pink Sheet
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Ameriwest Pink Sheet performing well and Ameriwest Lithium 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 Ameriwest Lithium'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.
Be your own money manager
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