Xander Resources Correlations

OTC Stocks USA . 
Stock . Xander Resources
XNDRF Stock  USD 0.0278  0.0003  1.08%   
The correlation of Xander Resources is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Xander Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xander Resources moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to Xander 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 Xander 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 Xander 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 Xander Resources to buy it.

Moving together with Xander Resources

+0.61VSTAVasta PlatformLtd Financial Report 11th of May 2023 PairCorr
+0.61VZVerizon Communications Aggressive PushPairCorr

Related Correlations

DEO
DWWEF
MBSC
NAPA
RMRHF
PHYT
EOCW
DEO
0.0-0.530.55-0.22-0.51-0.44
DEO
DWWEF
0.00.00.00.00.00.0
DWWEF
MBSC
-0.530.0-0.770.650.970.94
MBSC
NAPA
0.550.0-0.77-0.44-0.7-0.63
NAPA
RMRHF
-0.220.00.65-0.440.640.69
RMRHF
PHYT
-0.510.00.97-0.70.640.95
PHYT
EOCW
-0.440.00.94-0.630.690.95
EOCW
DEO
DWWEF
MBSC
NAPA
RMRHF
PHYT
EOCW
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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
PHYT
+ 0.97
MBSC
EOCW
+ 0.95
PHYT
EOCW
+ 0.94
MBSC
EOCW
+ 0.69
RMRHF
RMRHF
+ 0.65
MBSC
PHYT
+ 0.64
RMRHF
  
High negative correlations   
NAPA
- 0.77
MBSC
PHYT
- 0.7
NAPA
EOCW
- 0.63
NAPA
MBSC
- 0.53
DEO
PHYT
- 0.51
DEO
RMRHF
- 0.44
NAPA

Risk-Adjusted Indicators

Nowadays, there is a big difference between Xander OTC Stock performing well and Xander Resources company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Xander Resources' multiple risk-adjusted performance indicators. 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		Information
Ratio		Expected
Shortfall		Potential
Upside		Value
At Risk		Maximum
Drawdown
DEO 0.96  0.02  0.02  0.01  1.30  0.0226 (1.07)  2.47 (1.65)  8.05 
DWWEF 0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00  0.00 
MBSC 0.09  0.02  0.32 (2.80)  0.00  0.37 (0.15)  0.29 (0.10)  0.79 
NAPA 1.33 (0.08)  0.00 (0.16)  0.00 (0.0398)  0.00  2.67 (2.40)  9.68 
RMRHF 0.40  0.19  0.00 (4.64)  0.00  0.13  0.00  0.00  0.00  13.33 
PHYT 0.08  0.02  0.21  1.09  0.00  0.32 (0.15)  0.19 (0.10)  0.76 
EOCW 0.10  0.02  0.13  1.16  0.00  0.27 (0.14)  0.20 
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