Sailfish Royalty Correlations

FISH Stock

CAD 3.46 0.16 4.85%

The current 90-days correlation between Sailfish Royalty Corp and Minera Alamos is 0.06 (i.e., Significant diversification). The correlation of Sailfish Royalty 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Sailfish Royalty Correlation With Market

Good diversification

The correlation between Sailfish Royalty Corp and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sailfish Royalty Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sailfish Stock

0.79	FDR	Flinders Resources	Pair Corr
0.74	QTWO	Q2 Metals Corp	Pair Corr

Moving against Sailfish Stock

0.58	QBTC	Bitcoin Fund Unit	Pair Corr
0.5	FLT	Drone Delivery Canada	Pair Corr
0.42	AML	Argus Metals Corp	Pair Corr
0.32	RPX	Red Pine Exploration	Pair Corr

Related Correlations Analysis

	MAI	NEXG	MFG	LN	TUD	AUMB	DNG	AUXX	WGO
MAI		0.49	0.51	0.45	0.09	0.74	0.15	0.65	0.76	MAI
NEXG	0.49		0.21	0.05	0.44	0.58	0.5	0.49	0.62	NEXG
MFG	0.51	0.21		0.48	-0.3	0.33	0.22	0.63	0.27	MFG
LN	0.45	0.05	0.48		-0.61	0.7	-0.01	0.71	0.44	LN
TUD	0.09	0.44	-0.3	-0.61		-0.13	0.12	-0.4	0.12	TUD
AUMB	0.74	0.58	0.33	0.7	-0.13		0.22	0.76	0.81	AUMB
DNG	0.15	0.5	0.22	-0.01	0.12	0.22		0.43	0.33	DNG
AUXX	0.65	0.49	0.63	0.71	-0.4	0.76	0.43		0.63	AUXX
WGO	0.76	0.62	0.27	0.44	0.12	0.81	0.33	0.63		WGO
	MAI	NEXG	MFG	LN	TUD	AUMB	DNG	AUXX	WGO

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

WGO	+ 0.81	AUMB
WGO	+ 0.76	MAI
AUXX	+ 0.76	AUMB
AUMB	+ 0.74	MAI
AUXX	+ 0.71	LN
AUMB	+ 0.7	LN

High negative correlations

TUD	- 0.61	LN
AUXX	- 0.4	TUD
TUD	- 0.3	MFG
AUMB	- 0.13	TUD
DNG	- 0.01	LN

Risk-Adjusted Indicators

There is a big difference between Sailfish Stock performing well and Sailfish Royalty 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 Sailfish Royalty'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
MAI	3.08	0.24	0.04	0.62	3.38	(4.52)	5.26	(6.98)	25.97
NEXG	3.08	0.48	0.11	1.43	3.36	(3.69)	7.25	(5.62)	26.00
MFG	2.68	0.43	0.11	2.10	2.92	(3.30)	5.95	(4.65)	16.85
LN	1.89	0.69	0.30	1.14	1.54	(2.69)	6.12	(3.05)	15.27
TUD	3.94	(0.16)	0.00	(0.13)	0.00	0.00	7.48	(7.14)	36.10
AUMB	7.19	2.05	0.31	1.04	5.31	(9.44)	18.39	(11.11)	47.64
DNG	1.77	0.15	0.04	0.80	2.25	(1.84)	3.20	(3.63)	11.31
AUXX	3.32	0.79	0.16	5.17	3.39	(4.35)	7.69	(6.78)	22.13
WGO	4.24	0.57	0.12	0.38	4.41	(5.22)	10.77	(8.33)	24.47

Be your own money manager

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