SPC Nickel Correlations
| SPCNF Stock | USD 0.01 0 9.29% |
The correlation of SPC 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.
SPC Nickel Correlation With Market
Average diversification
The correlation between SPC Nickel Corp and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPC Nickel Corp and DJI in the same portfolio, assuming nothing else is changed.
SPC |
The ability to find closely correlated positions to SPC 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 SPC 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 SPC 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 SPC Nickel Corp to buy it.
Moving together with SPC Pink Sheet
| 0.61 | BHPLF | BHP Group Limited | PairCorr |
| 0.71 | BHP | BHP Group Limited | PairCorr |
| 0.62 | RIO | Rio Tinto ADR | PairCorr |
| 0.74 | GLCNF | Glencore PLC | PairCorr |
| 0.71 | GLNCY | Glencore PLC ADR | PairCorr |
| 0.78 | SHG | Shinhan Financial | PairCorr |
| 0.84 | BCH | Banco De Chile | PairCorr |
| 0.76 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.82 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
Moving against SPC Pink Sheet
| 0.84 | FNMFO | Federal National Mortgage | PairCorr |
| 0.55 | AVAL | Grupo Aval | PairCorr |
| 0.55 | CIB | Bancolombia SA ADR | PairCorr |
| 0.4 | ITCL | Banco Ita Chile | PairCorr |
| 0.83 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.83 | DIS | Walt Disney | PairCorr |
| 0.83 | WMT | Walmart | PairCorr |
| 0.79 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.78 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.72 | CSCO | Cisco Systems | PairCorr |
| 0.6 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.44 | HD | Home Depot | 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 SPC Pink Sheet performing well and SPC 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 SPC 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ZNCXF | 1.08 | (0.17) | 0.00 | 0.40 | 0.00 | 0.00 | 33.33 | |||
| MUNMF | 1.48 | (0.08) | 0.00 | (0.53) | 0.00 | 7.69 | 15.48 | |||
| SCCFF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NRRMF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| ESVNF | 6.05 | (0.30) | 0.01 | 0.06 | 11.16 | 26.85 | 96.08 | |||
| NBTRF | 1.18 | (0.19) | 0.00 | 0.24 | 0.00 | 0.00 | 54.54 | |||
| JUGRF | 4.76 | 0.17 | 0.00 | (0.12) | 5.11 | 11.43 | 48.26 | |||
| LTSRF | 3.85 | (0.21) | 0.00 | (0.20) | 0.00 | 10.53 | 26.79 | |||
| CNIKF | 1.85 | (0.25) | 0.00 | (0.24) | 0.00 | 3.80 | 14.46 | |||
| GBBGF | 7.06 | 0.47 | 0.02 | (4.37) | 10.07 | 18.85 | 115.01 |