Sprott Physical Correlations

SRUUF Stock

USD 16.25 0.04 0.25%

The current 90-days correlation between Sprott Physical Uranium and NexGen Energy is 0.61 (i.e., Poor diversification). The correlation of Sprott Physical 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.

Sprott Physical Correlation With Market

Significant diversification

The correlation between Sprott Physical Uranium and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Physical Uranium and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sprott OTC Stock

0.85	CCJ	Cameco Corp	Pair Corr
0.83	NATKY	JSC National Atomic	Pair Corr
0.89	NXE	NexGen Energy	Pair Corr
0.75	LEU	Centrus Energy Buyout Trend	Pair Corr
0.76	UEC	Uranium Energy Corp	Pair Corr
0.77	DNN	Denison Mines Corp Aggressive Push	Pair Corr
0.9	PALAF	Paladin Energy	Pair Corr
0.93	YLLXF	Yellow Cake plc	Pair Corr
0.73	RKDA	Arcadia Biosciences	Pair Corr
0.72	HNFSB	Hanover Foods	Pair Corr
0.72	UTMD	Utah Medical Products Earnings Call This Week	Pair Corr
0.68	AX	Axos Financial Earnings Call This Week	Pair Corr
0.73	CGXYY	China Galaxy Securities	Pair Corr
0.81	A	Agilent Technologies	Pair Corr
0.68	GOOGL	Alphabet Class A Earnings Call This Week	Pair Corr
0.62	TSLA	Tesla Inc Earnings Call This Week	Pair Corr
0.68	GSBD	Goldman Sachs BDC	Pair Corr
0.74	SONO	Sonos Inc	Pair Corr
0.79	BKNG	Booking Holdings	Pair Corr
0.79	TWLO	Twilio Inc Tech Boost	Pair Corr
0.84	JPM	JPMorgan Chase	Pair Corr

Moving against Sprott OTC Stock

0.56	MRMD	Marimed	Pair Corr
0.42	NIO	Nio Class A Aggressive Push	Pair Corr
0.65	372546AW1	GEORGE WASH UNIV	Pair Corr

Related Correlations Analysis

	EU	NXE	UROY	DNN	U-UN	GLATF
EU		0.93	0.95	0.95	0.74	-0.11	EU
NXE	0.93		0.97	0.93	0.84	0.17	NXE
UROY	0.95	0.97		0.96	0.78	0.08	UROY
DNN	0.95	0.93	0.96		0.73	0.03	DNN
U-UN	0.74	0.84	0.78	0.73		0.14	U-UN
GLATF	-0.11	0.17	0.08	0.03	0.14		GLATF
	EU	NXE	UROY	DNN	U-UN	GLATF

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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

UROY	+ 0.97	NXE
DNN	+ 0.96	UROY
UROY	+ 0.95	EU
DNN	+ 0.95	EU
NXE	+ 0.93	EU
DNN	+ 0.93	NXE

High negative correlations

GLATF

- 0.11

Risk-Adjusted Indicators

There is a big difference between Sprott OTC Stock performing well and Sprott Physical OTC Stock 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 Sprott Physical'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
EU	3.97	1.24	0.34	1.35	2.83	(5.09)	10.50	(5.20)	31.05
NXE	2.11	0.60	0.24	1.57	1.75	(2.48)	5.43	(3.09)	18.21
UROY	2.69	0.72	0.17	5.44	2.91	(3.13)	5.46	(4.45)	27.42
DNN	3.11	0.78	0.19	2.59	3.05	(3.56)	8.56	(5.43)	20.14
U-UN	1.81	0.25	0.05	(2.71)	1.93	(1.94)	4.38	(3.15)	11.70
GLATF	4.50	0.20	0.04	0.27	5.64	(5.33)	10.64	(6.82)	37.36

Be your own money manager

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