Premium Nickel Correlations

PNRLF Stock

0.36 0.02 5.88%

The current 90-days correlation between Premium Nickel Resources and LithiumBank Resources Corp is 0.05 (i.e., Significant diversification). The correlation of Premium Nickel 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.

Premium Nickel Correlation With Market

Good diversification

The correlation between Premium Nickel Resources and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Premium Nickel Resources and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Premium Pink Sheet

0.76	BHPLF	BHP Group Limited	Pair Corr
0.88	BHP	BHP Group Limited	Pair Corr
0.82	RTNTF	Rio Tinto Group	Pair Corr
0.65	RTPPF	Rio Tinto Group	Pair Corr
0.8	RIO	Rio Tinto ADR	Pair Corr
0.87	GLCNF	Glencore PLC	Pair Corr
0.88	GLNCY	Glencore PLC ADR	Pair Corr
0.62	SHG	Shinhan Financial	Pair Corr
0.7	BCH	Banco De Chile	Pair Corr
0.62	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.73	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.69	MCD	McDonalds Sell-off Trend	Pair Corr

Moving against Premium Pink Sheet

0.69	FNMFO	Federal National Mortgage	Pair Corr
0.35	AVAL	Grupo Aval	Pair Corr
0.69	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.67	DIS	Walt Disney	Pair Corr
0.63	WMT	Walmart	Pair Corr
0.58	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.57	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.54	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.51	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	LBNKF	WEST	APAM	FIZZ	BCBP	UVSP	CMWAY	PFLT
LBNKF		-0.47	-0.88	-0.73	-0.66	-0.88	-0.68	0.68	LBNKF
WEST	-0.47		0.6	0.67	0.58	0.68	0.79	-0.52	WEST
APAM	-0.88	0.6		0.82	0.81	0.92	0.77	-0.55	APAM
FIZZ	-0.73	0.67	0.82		0.77	0.83	0.67	-0.57	FIZZ
BCBP	-0.66	0.58	0.81	0.77		0.85	0.74	-0.4	BCBP
UVSP	-0.88	0.68	0.92	0.83	0.85		0.84	-0.66	UVSP
CMWAY	-0.68	0.79	0.77	0.67	0.74	0.84		-0.64	CMWAY
PFLT	0.68	-0.52	-0.55	-0.57	-0.4	-0.66	-0.64		PFLT
	LBNKF	WEST	APAM	FIZZ	BCBP	UVSP	CMWAY	PFLT

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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

UVSP	+ 0.92	APAM
UVSP	+ 0.85	BCBP
CMWAY	+ 0.84	UVSP
UVSP	+ 0.83	FIZZ
FIZZ	+ 0.82	APAM
BCBP	+ 0.81	APAM

High negative correlations

UVSP	- 0.88	LBNKF
APAM	- 0.88	LBNKF
FIZZ	- 0.73	LBNKF
CMWAY	- 0.68	LBNKF
PFLT	- 0.66	UVSP
BCBP	- 0.66	LBNKF

Risk-Adjusted Indicators

There is a big difference between Premium Pink Sheet performing well and Premium Nickel 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 Premium Nickel'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
LBNKF	2.96	(0.66)	0.00	(3.64)	0.00	0.00	6.06	(7.14)	18.77
WEST	2.91	(0.08)	0.00	(0.04)	0.00	0.00	6.50	(5.93)	17.92
APAM	1.28	0.09	0.09	0.14	1.49	(1.33)	2.52	(2.39)	12.25
FIZZ	1.09	0.03	(0.01)	0.14	1.58	(1.09)	2.56	(1.89)	10.75
BCBP	1.49	(0.09)	0.00	0.04	1.94	(1.63)	3.54	(2.36)	12.18
UVSP	1.51	0.05	0.10	0.11	1.48	(1.99)	3.37	(2.72)	18.49
CMWAY	0.97	0.06	0.00	0.29	1.10	(0.97)	2.22	(1.76)	7.38
PFLT	0.60	(0.05)	0.00	(0.18)	0.00	0.00	0.91	(1.17)	4.97

Be your own money manager

Our tools can tell you how much better you can do entering a position in Premium Nickel 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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