ASA Gold Correlations

ASA Stock

USD 68.22 4.01 5.55%

The current 90-days correlation between ASA Gold and Bain Capital Specialty is 0.05 (i.e., Significant diversification). The correlation of ASA 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.

ASA Gold Correlation With Market

Very poor diversification

The correlation between ASA Gold and and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ASA Gold and and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ASA Stock

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ASA Gold and. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with ASA Stock

0.9	LBS	Life Banc Split	Pair Corr
0.92	DFN	Dividend 15 Split	Pair Corr
0.71	CSOC-A	Canso Select Opportu	Pair Corr
0.93	DGS	Dividend Growth Split	Pair Corr
0.65	HRZN	Horizon Technology	Pair Corr
0.92	SBC	Brompton Split Banc	Pair Corr
0.76	URB-A	Urbana	Pair Corr
0.91	LCS	Brompton Lifeco Split Split	Pair Corr
0.74	URB	Urbana	Pair Corr
0.74	CGL	CATLIN GROUP	Pair Corr
0.79	BBDC	Barings BDC Earnings Call This Week	Pair Corr
0.76	PWI	Sustainable Power	Pair Corr
0.9	TRIN	Trinity Capital	Pair Corr
0.91	CSWC	Capital Southwest	Pair Corr
0.77	IRNRF	Iron Road Limited Earnings Call This Week	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr

Moving against ASA Stock

0.5	EPGG	Empire Global Gaming	Pair Corr
0.46	NMFC	New Mountain Finance	Pair Corr
0.36	MFIC	MidCap Financial Inv	Pair Corr
0.64	MSFT	Microsoft	Pair Corr
0.41	GBHPF	Global Hemp Group	Pair Corr
0.36	MMM	3M Company	Pair Corr
0.34	IBM	International Business	Pair Corr

Related Correlations Analysis

	BCSF	KBDC	CGBD	PFLT	GAINI	TRIN	NMFC	GAM	HQH	TYG
BCSF		0.64	0.78	0.26	0.43	-0.01	0.47	0.17	0.31	-0.34	BCSF
KBDC	0.64		0.56	0.05	0.19	-0.26	0.6	-0.13	0.18	-0.32	KBDC
CGBD	0.78	0.56		0.69	0.4	0.47	0.29	0.57	0.58	-0.05	CGBD
PFLT	0.26	0.05	0.69		0.24	0.84	-0.16	0.82	0.5	0.37	PFLT
GAINI	0.43	0.19	0.4	0.24		0.08	0.07	0.26	0.3	-0.44	GAINI
TRIN	-0.01	-0.26	0.47	0.84	0.08		-0.49	0.9	0.55	0.59	TRIN
NMFC	0.47	0.6	0.29	-0.16	0.07	-0.49		-0.48	-0.25	-0.64	NMFC
GAM	0.17	-0.13	0.57	0.82	0.26	0.9	-0.48		0.73	0.56	GAM
HQH	0.31	0.18	0.58	0.5	0.3	0.55	-0.25	0.73		0.3	HQH
TYG	-0.34	-0.32	-0.05	0.37	-0.44	0.59	-0.64	0.56	0.3		TYG
	BCSF	KBDC	CGBD	PFLT	GAINI	TRIN	NMFC	GAM	HQH	TYG

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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

GAM	+ 0.9	TRIN
TRIN	+ 0.84	PFLT
GAM	+ 0.82	PFLT
CGBD	+ 0.78	BCSF
HQH	+ 0.73	GAM
PFLT	+ 0.69	CGBD

High negative correlations

TYG	- 0.64	NMFC
NMFC	- 0.49	TRIN
GAM	- 0.48	NMFC
TYG	- 0.44	GAINI
TYG	- 0.34	BCSF
TYG	- 0.32	KBDC

Risk-Adjusted Indicators

There is a big difference between ASA Stock performing well and ASA 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 ASA 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
BCSF	1.05	(0.01)	(0.03)	0.06	1.35	(1.06)	2.90	(2.13)	6.32
KBDC	1.07	(0.01)	(0.03)	0.05	1.26	(1.18)	2.84	(2.31)	6.04
CGBD	1.00	0.02	(0.01)	0.10	1.20	(1.07)	2.23	(2.09)	5.52
PFLT	0.86	0.04	(0.03)	(29.23)	1.06	(0.90)	1.95	(1.66)	6.18
GAINI	0.20	0.00	(0.16)	0.00	0.37	(0.18)	0.35	(0.39)	1.98
TRIN	1.00	0.14	0.10	0.32	0.95	(1.15)	2.45	(1.60)	5.81
NMFC	1.05	(0.14)	0.00	(0.90)	0.00	0.00	2.64	(1.98)	8.09
GAM	0.47	0.07	0.07	0.20	0.34	(0.51)	1.24	(0.83)	2.57
HQH	0.99	0.14	0.11	0.26	0.97	(1.16)	2.64	(1.70)	6.53
TYG	0.90	0.18	0.10	(0.97)	0.79	(1.07)	1.98	(1.14)	6.80

ASA Gold Corporate Management

Jack Huntington	Chief Compliance Officer	Profile
James Nash	Chief Compliance Officer, Secretary	Profile
Karen Shaw	Principal Financial Officer	Profile
Patrick Keniston	Chief Officer	Profile
Thomas Perugini	Principal Officer	Profile

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