Bitterroot Resources Correlations

BITTF Stock

USD 0.03 0.0006 1.71%

The current 90-days correlation between Bitterroot Resources and Granite Creek Copper is 0.1 (i.e., Average diversification). The correlation of Bitterroot 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.

Bitterroot Resources Correlation With Market

Good diversification

The correlation between Bitterroot Resources and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bitterroot Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Bitterroot Pink Sheet

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0.81	GLNCY	Glencore PLC ADR	Pair Corr
0.64	AAUKF	Anglo American plc	Pair Corr
0.67	SLF	Sun Life Financial	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.74	MSFT	Microsoft Aggressive Push	Pair Corr
0.71	JPM	JPMorgan Chase	Pair Corr
0.69	CVX	Chevron Corp	Pair Corr
0.73	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.68	AA	Alcoa Corp Earnings Call Today	Pair Corr
0.7	AXP	American Express Earnings Call This Week	Pair Corr
0.76	IBM	International Business Earnings Call This Week	Pair Corr
0.7	BAC	Bank of America Earnings Call Today	Pair Corr

Moving against Bitterroot Pink Sheet

0.59

MCD

McDonalds

Pair Corr

Related Correlations Analysis

	GCXXF	STSBF	BHSIF	GOLXF	ESKYF	BTT	CHXMF	ELRRF
GCXXF		-0.87	-0.23	0.39	0.87	0.72	0.86	0.84	GCXXF
STSBF	-0.87		-0.02	-0.33	-0.84	-0.84	-0.75	-0.86	STSBF
BHSIF	-0.23	-0.02		-0.56	0.03	-0.05	-0.41	-0.14	BHSIF
GOLXF	0.39	-0.33	-0.56		0.32	0.35	0.6	0.42	GOLXF
ESKYF	0.87	-0.84	0.03	0.32		0.63	0.68	0.69	ESKYF
BTT	0.72	-0.84	-0.05	0.35	0.63		0.71	0.75	BTT
CHXMF	0.86	-0.75	-0.41	0.6	0.68	0.71		0.8	CHXMF
ELRRF	0.84	-0.86	-0.14	0.42	0.69	0.75	0.8		ELRRF
	GCXXF	STSBF	BHSIF	GOLXF	ESKYF	BTT	CHXMF	ELRRF

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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

ESKYF	+ 0.87	GCXXF
CHXMF	+ 0.86	GCXXF
ELRRF	+ 0.84	GCXXF
ELRRF	+ 0.8	CHXMF
ELRRF	+ 0.75	BTT
BTT	+ 0.72	GCXXF

High negative correlations

STSBF	- 0.87	GCXXF
ELRRF	- 0.86	STSBF
BTT	- 0.84	STSBF
ESKYF	- 0.84	STSBF
CHXMF	- 0.75	STSBF
GOLXF	- 0.56	BHSIF

Risk-Adjusted Indicators

There is a big difference between Bitterroot Pink Sheet performing well and Bitterroot 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 Bitterroot 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
GCXXF	9.63	3.35	0.20	(0.62)	7.92	(18.35)	36.05	(16.67)	99.40
STSBF	4.01	(0.99)	0.00	(6.01)	0.00	0.00	7.69	(13.79)	30.60
BHSIF	2.54	0.51	0.00	(13.87)	0.00	0.00	6.00	(5.66)	58.33
GOLXF	5.31	0.40	0.03	0.81	6.76	(10.21)	16.00	(10.46)	39.83
ESKYF	5.29	1.39	0.17	(6.29)	4.63	(8.65)	11.76	(10.53)	32.73
BTT	5.10	1.13	0.00	0.79	0.00	0.00	33.33	(16.67)	70.00
CHXMF	2.68	0.79	0.21	(1.24)	1.96	(4.14)	7.50	(3.92)	13.85
ELRRF	2.91	0.83	0.23	(2.87)	2.36	(4.01)	7.58	(3.61)	17.19

Be your own money manager

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