Hummingbird Resources Correlations
| HUMRF Stock | USD 0.02 0.00 0.00% |
The current 90-days correlation between Hummingbird Resources PLC and Japan Gold Corp is 0.18 (i.e., Average diversification). The correlation of Hummingbird Resources 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.
Hummingbird Resources Correlation With Market
Good diversification
The correlation between Hummingbird Resources PLC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hummingbird Resources PLC and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Hummingbird 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 Hummingbird 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 Hummingbird 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 Hummingbird Resources PLC to buy it.
Moving together with Hummingbird Pink Sheet
| 0.79 | NEM | Newmont Goldcorp Corp | PairCorr |
| 0.87 | GOLD | Barrick Gold Corp | PairCorr |
| 0.91 | PPERY | Bank Mandiri Persero | PairCorr |
| 0.71 | PPERF | Bank Mandiri Persero | PairCorr |
| 0.68 | BKRKF | PT Bank Rakyat | PairCorr |
| 0.89 | BKRKY | Bank Rakyat | PairCorr |
| 0.83 | PBCRY | Bank Central Asia | PairCorr |
| 0.73 | PTBRY | Bank Negara Indonesia | PairCorr |
| 0.68 | SHG | Shinhan Financial | PairCorr |
| 0.77 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.86 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
Moving against Hummingbird Pink Sheet
| 0.53 | KB | KB Financial Group | PairCorr |
| 0.51 | MET | MetLife | PairCorr |
| 0.89 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.88 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.83 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.81 | DIS | Walt Disney Aggressive Push | PairCorr |
| 0.76 | WMT | Walmart Aggressive Push | PairCorr |
| 0.69 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.63 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.52 | HPQ | HP Inc | PairCorr |
| 0.47 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.35 | JXN-PA | Jackson Financial | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Hummingbird Pink Sheet performing well and Hummingbird Resources 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 Hummingbird Resources' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FRERF | 6.11 | 0.09 | 0.00 | 0.02 | 0.00 | 19.18 | 67.94 | |||
| NRRSF | 6.33 | 1.73 | 0.18 | (0.84) | 4.73 | 18.16 | 59.70 | |||
| TDRRF | 3.24 | 0.09 | 0.02 | 0.23 | 3.62 | 7.79 | 23.48 | |||
| CGOLF | 5.11 | 0.12 | (0.01) | (0.01) | 6.72 | 11.54 | 65.19 | |||
| JGLDF | 4.60 | 0.80 | 0.05 | (0.31) | 5.32 | 10.20 | 45.04 | |||
| RSRBF | 1.24 | (0.39) | 0.00 | (1.21) | 0.00 | 1.66 | 21.38 | |||
| ROVMF | 3.51 | 0.60 | 0.02 | (0.24) | 4.36 | 15.79 | 60.20 | |||
| ORFDF | 3.18 | 0.42 | 0.05 | (1.67) | 3.72 | 7.51 | 25.64 | |||
| LONCF | 2.59 | 0.06 | (0.01) | (0.65) | 3.90 | 10.00 | 45.83 | |||
| PREIF | 5.30 | 0.21 | (0.01) | (0.02) | 6.62 | 12.38 | 31.86 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Hummingbird Resources 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.Did you try this?
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Hummingbird Resources Corporate Management
| Luke Main | Group Officer | Profile | |
| Tracey Fung | Company Sec | Profile | |
| Timothy Huskinson | VP Fin | Profile | |
| Saidou Id | GM Admin | Profile |