Trilogy Metals Correlations

TMQ Stock

CAD 1.58 0.02 1.28%

The current 90-days correlation between Trilogy Metals and Hannan Metals is -0.18 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Trilogy Metals moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Trilogy Metals moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Trilogy Metals Correlation With Market

Average diversification

The correlation between Trilogy Metals and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Trilogy Metals and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Trilogy Stock

0.79	VBNK	VersaBank	Pair Corr
0.75	FSZ	Fiera Capital	Pair Corr
0.61	LAC	Lithium Americas Corp	Pair Corr
0.74	PEY	Peyto ExplorationDevel	Pair Corr
0.81	DGS	Dividend Growth Split	Pair Corr
0.64	CGG	China Gold International	Pair Corr
0.88	ENS-PA	E Split Corp	Pair Corr
0.71	OM	Osisko Metals	Pair Corr
0.77	DBO	D Box Technologies	Pair Corr
0.9	FFH	Fairfax Financial	Pair Corr
0.89	EIT-UN	Canoe EIT Income	Pair Corr
0.82	DFN	Dividend 15 Split	Pair Corr
0.83	ET	Evertz Technologies	Pair Corr
0.61	ORA	Aura Minerals	Pair Corr
0.86	ERE-UN	European Residential Real	Pair Corr
0.82	TCS	TECSYS Inc	Pair Corr
0.78	RY	Royal Bank	Pair Corr
0.89	Y	Yellow Pages Limited	Pair Corr
0.89	CRM	SalesforceCom CDR	Pair Corr
0.66	CHE-UN	Chemtrade Logistics	Pair Corr
0.8	NICU	Magna Mining	Pair Corr

Moving against Trilogy Stock

0.87	ORE	Orezone Gold Corp	Pair Corr
0.86	INFM	Infinico Metals Corp	Pair Corr
0.7	TKU	Tarku Resources	Pair Corr
0.36	KDA	KDA Group	Pair Corr
0.31	QTWO	Q2 Metals Corp	Pair Corr

Related Correlations Analysis

	HAN	AUMN	LGD	MMA	SLR
HAN		-0.77	-0.44	-0.2	0.26	HAN
AUMN	-0.77		0.55	0.2	-0.07	AUMN
LGD	-0.44	0.55		-0.43	0.62	LGD
MMA	-0.2	0.2	-0.43		-0.44	MMA
SLR	0.26	-0.07	0.62	-0.44		SLR
	HAN	AUMN	LGD	MMA	SLR

Click cells to compare fundamentals

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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

SLR	+ 0.62	LGD
LGD	+ 0.55	AUMN
SLR	+ 0.26	HAN
MMA	+ 0.2	AUMN

High negative correlations

AUMN	- 0.77	HAN
SLR	- 0.44	MMA
LGD	- 0.44	HAN
MMA	- 0.43	LGD
MMA	- 0.2	HAN
SLR	- 0.07	AUMN

Risk-Adjusted Indicators

There is a big difference between Trilogy Stock performing well and Trilogy Metals 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 Trilogy Metals' 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
HAN	4.87	0.41	0.07	(9.82)	4.72	(6.16)	10.34	(8.00)	25.61
AUMN	5.37	(0.99)	0.00	(0.41)	0.00	0.00	11.76	(13.64)	55.34
LGD	2.80	(0.38)	0.00	1.87	0.00	0.00	6.67	(6.67)	20.09
MMA	5.39	1.16	0.19	0.87	4.84	(7.55)	13.51	(9.09)	24.68
SLR	1.82	(0.12)	0.00	(0.15)	0.00	0.00	6.10	(5.43)	15.08

Be your own money manager

Our tools can tell you how much better you can do entering a position in Trilogy Metals 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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