K2 GOLD Correlations
| 23K Stock | EUR 0.41 0.02 4.65% |
The current 90-days correlation between K2 GOLD P and Entravision Communications is 0.07 (i.e., Significant diversification). The correlation of K2 GOLD 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.
K2 GOLD Correlation With Market
Very poor diversification
The correlation between K2 GOLD P and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding K2 GOLD P and DJI in the same portfolio, assuming nothing else is changed.
23K |
The ability to find closely correlated positions to K2 GOLD could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace K2 GOLD 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 K2 GOLD - 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 K2 GOLD P to buy it.
Moving together with 23K Stock
| 0.89 | FPMB | FREEPORT MCMORAN | PairCorr |
| 0.92 | XMF | STOMO MITSUI FINL | PairCorr |
| 0.67 | SCL | Schlumberger Limited | PairCorr |
| 0.79 | RWL | ROCKWELL AUTOMATION Earnings Call This Week | PairCorr |
| 0.84 | FUC | Fanuc | PairCorr |
| 0.67 | FJZ | ZIJIN MINING H | PairCorr |
| 0.71 | GZF | Engie SA | PairCorr |
| 0.68 | TM2 | Sydbank A/S | PairCorr |
| 0.73 | MIZ | Mizuno Earnings Call This Week | PairCorr |
| 0.64 | BFP | BBVA Banco Frances | PairCorr |
| 0.69 | YHA | Yamaha Earnings Call Tomorrow | PairCorr |
| 0.78 | SWF | STNLY BLCKDECK Earnings Call Tomorrow | PairCorr |
| 0.73 | PYCP | Minera Alamos Split | PairCorr |
| 0.9 | XCA | CREDIT AGRICOLE Earnings Call Tomorrow | PairCorr |
| 0.74 | 01H | HORIBA | PairCorr |
| 0.93 | COZ | Cognizant Technology | PairCorr |
| 0.77 | SKT | Storebrand ASA | PairCorr |
| 0.77 | FRYA | Swedbank AB | PairCorr |
| 0.61 | DNP | Dai Nippon Printing | PairCorr |
| 0.82 | GE9 | Genmab A/S | PairCorr |
| 0.7 | HMT | Host Hotels Resorts | PairCorr |
| 0.76 | NOH1 | Norsk Hydro ASA | PairCorr |
| 0.91 | STD0 | STANDARD CHARTUNSPADR2 | PairCorr |
| 0.89 | NAQ | Nasdaq Inc | PairCorr |
Moving against 23K Stock
| 0.86 | 5F3 | JINS HOLDINGS INC | PairCorr |
| 0.82 | HK2C | Hong Kong Exchanges | PairCorr |
| 0.73 | SON1 | Sony Group Corp Earnings Call This Week | PairCorr |
| 0.52 | AMD | Advanced Micro Devices Earnings Call Today | PairCorr |
| 0.42 | ABL | Abbott Laboratories | PairCorr |
| 0.32 | 893 | MITSUBISHI KAKOKI | PairCorr |
Related Correlations Analysis
| -0.5 | 0.77 | -0.6 | 0.7 | 0.34 | UCE | ||
| -0.5 | -0.74 | 0.47 | -0.61 | -0.8 | RCI | ||
| 0.77 | -0.74 | -0.8 | 0.82 | 0.66 | GG7 | ||
| -0.6 | 0.47 | -0.8 | -0.57 | -0.41 | 4SB | ||
| 0.7 | -0.61 | 0.82 | -0.57 | 0.69 | AOC | ||
| 0.34 | -0.8 | 0.66 | -0.41 | 0.69 | EV9 | ||
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 23K Stock performing well and K2 GOLD 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 K2 GOLD'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| UCE | 3.30 | 0.69 | 0.14 | 1.26 | 3.55 | 6.92 | 27.96 | |||
| RCI | 1.26 | (0.04) | 0.00 | (0.09) | 0.00 | 3.69 | 9.47 | |||
| GG7 | 1.92 | 0.74 | 0.40 | 1.29 | 1.10 | 5.79 | 12.04 | |||
| 4SB | 0.96 | (0.14) | 0.00 | (2.24) | 0.00 | 1.96 | 7.05 | |||
| AOC | 2.81 | 0.64 | 0.18 | 2.42 | 2.77 | 6.40 | 18.88 | |||
| EV9 | 2.72 | 0.62 | 0.25 | 0.70 | 2.08 | 8.06 | 30.72 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in K2 GOLD 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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K2 GOLD Corporate Executives
Elected by the shareholders, the K2 GOLD's board of directors comprises two types of representatives: K2 GOLD inside directors who are chosen from within the company, and outside directors, selected externally and held independent of 23K. The board's role is to monitor K2 GOLD's management team and ensure that shareholders' interests are well served. K2 GOLD's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, K2 GOLD's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Robert Scott | Chief Financial Officer | Profile |