First Quantum Correlations

FQVLF Stock

USD 22.21 0.46 2.03%

The correlation of First Quantum 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.

First Quantum Correlation With Market

Very good diversification

The correlation between First Quantum Minerals and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Quantum Minerals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with First Pink Sheet

0.66	AXP	American Express	Pair Corr
0.85	IBM	International Business Earnings Call This Week	Pair Corr
0.65	DD	Dupont De Nemours	Pair Corr
0.63	BAC	Bank of America	Pair Corr
0.84	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.89	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.85	CAT	Caterpillar	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr

Moving against First Pink Sheet

0.7	BA	Boeing	Pair Corr
0.68	DIS	Walt Disney	Pair Corr
0.68	KO	Coca Cola Earnings Call This Week	Pair Corr
0.53	VZ	Verizon Communications	Pair Corr
0.51	GCMGW	GCM Grosvenor	Pair Corr
0.39	ADVWW	Advantage Solutions	Pair Corr

Related Correlations Analysis

	JIAXF	LUNMF	YARIY	EMSHF	GNENF	IPOAF	ANGPY	KLBAY	NDEKF	LUGDF
JIAXF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	JIAXF
LUNMF	0.0		0.06	0.18	0.95	0.84	0.92	-0.28	0.83	0.83	LUNMF
YARIY	0.0	0.06		0.29	0.09	-0.02	0.24	-0.16	-0.2	-0.19	YARIY
EMSHF	0.0	0.18	0.29		0.3	0.23	0.27	-0.26	0.1	0.2	EMSHF
GNENF	0.0	0.95	0.09	0.3		0.79	0.88	-0.31	0.79	0.77	GNENF
IPOAF	0.0	0.84	-0.02	0.23	0.79		0.86	-0.01	0.84	0.87	IPOAF
ANGPY	0.0	0.92	0.24	0.27	0.88	0.86		-0.2	0.68	0.71	ANGPY
KLBAY	0.0	-0.28	-0.16	-0.26	-0.31	-0.01	-0.2		-0.08	-0.16	KLBAY
NDEKF	0.0	0.83	-0.2	0.1	0.79	0.84	0.68	-0.08		0.94	NDEKF
LUGDF	0.0	0.83	-0.19	0.2	0.77	0.87	0.71	-0.16	0.94		LUGDF
	JIAXF	LUNMF	YARIY	EMSHF	GNENF	IPOAF	ANGPY	KLBAY	NDEKF	LUGDF

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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

GNENF	+ 0.95	LUNMF
LUGDF	+ 0.94	NDEKF
ANGPY	+ 0.92	LUNMF
ANGPY	+ 0.88	GNENF
LUGDF	+ 0.87	IPOAF
ANGPY	+ 0.86	IPOAF

High negative correlations

KLBAY	- 0.31	GNENF
KLBAY	- 0.28	LUNMF
KLBAY	- 0.26	EMSHF
KLBAY	- 0.2	ANGPY
NDEKF	- 0.2	YARIY
LUGDF	- 0.19	YARIY

Risk-Adjusted Indicators

There is a big difference between First Pink Sheet performing well and First Quantum 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 First Quantum'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
JIAXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LUNMF	1.89	0.69	0.34	(1.25)	1.25	(2.42)	4.23	(2.59)	14.53
YARIY	1.07	0.02	(0.03)	(0.05)	1.27	(1.14)	2.23	(1.93)	6.40
EMSHF	0.16	(0.02)	0.00	0.27	0.00	0.00	0.00	0.00	4.46
GNENF	3.40	0.81	0.18	(1.53)	3.17	(4.15)	10.53	(6.49)	25.46
IPOAF	3.04	0.71	0.17	(2.38)	2.85	(3.84)	7.11	(4.79)	24.79
ANGPY	2.79	0.40	0.08	(0.64)	3.26	(2.95)	6.89	(5.19)	18.67
KLBAY	2.54	(0.16)	0.00	(0.06)	0.00	0.00	8.01	(8.39)	20.07
NDEKF	1.04	0.44	0.00	0.63	0.00	0.00	4.26	0.00	18.76
LUGDF	2.09	0.79	0.27	(2.05)	2.19	(2.39)	5.31	(3.40)	12.18

Be your own money manager

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