Avidian Gold Correlations
| AVGDF Stock | USD 0.09 0.00 0.00% |
The current 90-days correlation between Avidian Gold Corp and Harmony Gold Mining is 0.13 (i.e., Average diversification). The correlation of Avidian 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.
Avidian Gold Correlation With Market
Significant diversification
The correlation between Avidian Gold Corp and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avidian Gold Corp and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Avidian 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 Avidian 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 Avidian 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 Avidian Gold Corp to buy it.
Moving together with Avidian Pink Sheet
Moving against Avidian Pink Sheet
| 0.55 | KB | KB Financial Group | PairCorr |
| 0.5 | MET | MetLife Sell-off Trend | PairCorr |
| 0.46 | GFI | Gold Fields | PairCorr |
| 0.44 | WPM | Wheaton Precious Metals | PairCorr |
| 0.35 | AEM | Agnico Eagle Mines | PairCorr |
| 0.73 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.63 | JXN-PA | Jackson Financial | PairCorr |
| 0.61 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.59 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.54 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.52 | HPQ | HP Inc | PairCorr |
| 0.5 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.49 | WMT | Walmart Aggressive Push | PairCorr |
| 0.46 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.36 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Avidian Pink Sheet performing well and Avidian 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 Avidian 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HMY | 2.71 | (0.13) | 0.00 | (0.42) | 0.00 | 7.63 | 17.74 | |||
| ID | 3.84 | 0.90 | 0.16 | 1.45 | 3.99 | 7.89 | 20.54 | |||
| RRTLX | 0.23 | (0.02) | (0.30) | 0.07 | 0.23 | 0.48 | 1.36 | |||
| AMPL | 4.39 | 0.56 | 0.08 | 19.63 | 5.25 | 10.34 | 31.98 | |||
| IO | 5.45 | 1.36 | 0.22 | 1.15 | 5.24 | 13.49 | 30.64 | |||
| SEIC | 0.80 | 0.20 | 0.18 | 0.37 | 0.55 | 1.57 | 7.23 | |||
| EMBC | 2.72 | 0.32 | 0.13 | 0.31 | 2.90 | 6.55 | 19.66 | |||
| KOD | 3.14 | 1.20 | 0.44 | 0.67 | 2.26 | 9.70 | 18.79 | |||
| GVPIX | 0.81 | (0.05) | 0.00 | 0.30 | 0.00 | 1.61 | 5.20 | |||
| VTARX | 0.36 | 0.01 | (0.11) | 0.15 | 0.41 | 0.84 | 2.37 |
Be your own money manager
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