Imperial Metals Correlations

III Stock

CAD 7.77 0.03 0.38%

The current 90-days correlation between Imperial Metals and Marimaca Copper Corp is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Imperial Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Imperial Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Imperial Metals Correlation With Market

Modest diversification

The correlation between Imperial Metals and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Imperial Metals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Imperial Stock

0.71	AG	First Majestic Silver	Pair Corr
0.65	IE	Ivanhoe Energy	Pair Corr
0.86	FDY	Faraday Copper Corp	Pair Corr
0.71	CGC	Aris Gold	Pair Corr
0.89	CEF	Sprott Physical Gold	Pair Corr
0.74	SLF-PG	Sun Life Non	Pair Corr
0.87	NA	National Bank	Pair Corr
0.9	POU	Paramount Resources	Pair Corr

Moving against Imperial Stock

0.86	CSOC-A	Canso Select Opportu	Pair Corr
0.75	HFPC-U	Helios Fairfax Partners	Pair Corr
0.64	AML	Argus Metals Corp	Pair Corr
0.42	GPCC-P	Green Panda Capital	Pair Corr

Related Correlations Analysis

	MARI	SLI	IAU	ASE	AFM	ORE	APM	MSA
MARI		0.64	0.44	0.64	0.7	0.67	0.51	0.64	MARI
SLI	0.64		0.71	0.55	0.72	0.85	0.53	0.62	SLI
IAU	0.44	0.71		0.26	0.66	0.78	0.6	0.8	IAU
ASE	0.64	0.55	0.26		0.34	0.6	0.5	0.24	ASE
AFM	0.7	0.72	0.66	0.34		0.72	0.51	0.73	AFM
ORE	0.67	0.85	0.78	0.6	0.72		0.76	0.61	ORE
APM	0.51	0.53	0.6	0.5	0.51	0.76		0.35	APM
MSA	0.64	0.62	0.8	0.24	0.73	0.61	0.35		MSA
	MARI	SLI	IAU	ASE	AFM	ORE	APM	MSA

Risk-Adjusted Indicators

There is a big difference between Imperial Stock performing well and Imperial Metals 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 Imperial Metals' 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
MARI	1.79	0.13	0.05	0.23	1.81	(2.15)	4.94	(3.73)	13.64
SLI	4.86	0.92	0.12	10.11	6.20	(5.08)	10.88	(9.80)	44.77
IAU	3.03	0.77	0.15	1.26	3.61	(3.44)	6.78	(6.34)	24.35
ASE	3.19	0.60	0.14	2.00	3.41	(3.62)	9.55	(7.04)	23.29
AFM	2.00	0.23	0.08	0.42	1.92	(2.92)	4.00	(3.81)	16.34
ORE	2.91	0.48	0.14	0.33	3.40	(3.36)	6.43	(5.47)	20.97
APM	3.74	0.36	0.08	0.32	4.22	(4.08)	8.64	(7.29)	28.39
MSA	2.93	0.62	0.14	1.58	3.70	(3.11)	6.40	(6.07)	18.86

Be your own money manager

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