Blue Gold Correlations

BGL Stock

2.63 0.03 1.13%

The current 90-days correlation between Blue Gold Limited and US Gold Corp is 0.39 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Blue Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Blue Gold Limited moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Blue Gold Correlation With Market

Significant diversification

The correlation between Blue Gold Limited and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Blue Gold Limited and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Blue Stock

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

Moving together with Blue Stock

0.77	JD	JD Inc Adr	Pair Corr
0.66	BKTPF	Cruz Cobalt Corp	Pair Corr
0.73	STKXF	StrikePoint Gold	Pair Corr

Moving against Blue Stock

0.75	VLKAF	Volkswagen AG	Pair Corr
0.73	VWAGY	Volkswagen AG 110	Pair Corr
0.69	AU	AngloGold Ashanti plc	Pair Corr
0.55	KGC	Kinross Gold Aggressive Push	Pair Corr
0.55	WMT	Walmart Common Stock	Pair Corr
0.52	ACN	Accenture plc Sell-off Trend	Pair Corr
0.43	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.34	WPM	Wheaton Precious Metals	Pair Corr
0.31	SAR	Saratoga Investment Corp	Pair Corr
0.67	EMHXY	European Metals Holdings	Pair Corr
0.65	FMX	Fomento Economico	Pair Corr
0.62	VLKPF	Volkswagen AG VZO	Pair Corr
0.53	CNC	Centene Corp	Pair Corr
0.49	GNAL	Generation Alpha	Pair Corr
0.42	MGTI	MGT Capital Investments	Pair Corr
0.41	ARNI	Arno Therapeutics	Pair Corr
0.38	JPM	JPMorgan Chase	Pair Corr
0.37	GROY	Gold Royalty Corp	Pair Corr
0.79	EBKDY	Erste Group Bank	Pair Corr
0.74	FMBRY	Famous Brands	Pair Corr
0.73	AIRTP	Air T Inc	Pair Corr
0.73	MIESY	Mitsui Engineering	Pair Corr
0.72	AB	AllianceBernstein	Pair Corr
0.68	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	USAU	VGZ	DC	VOXR	TRX	CTGO	NAMM	GLDG	SMID	PLG
USAU		0.6	0.74	0.42	0.72	0.79	0.13	0.38	-0.11	0.76	USAU
VGZ	0.6		0.73	0.52	0.59	0.79	0.28	0.25	-0.28	0.91	VGZ
DC	0.74	0.73		0.81	0.9	0.96	-0.23	0.17	-0.36	0.72	DC
VOXR	0.42	0.52	0.81		0.75	0.75	-0.43	0.08	-0.54	0.44	VOXR
TRX	0.72	0.59	0.9	0.75		0.86	-0.32	0.36	-0.33	0.6	TRX
CTGO	0.79	0.79	0.96	0.75	0.86		-0.11	0.16	-0.33	0.78	CTGO
NAMM	0.13	0.28	-0.23	-0.43	-0.32	-0.11		0.36	0.22	0.44	NAMM
GLDG	0.38	0.25	0.17	0.08	0.36	0.16	0.36		-0.03	0.39	GLDG
SMID	-0.11	-0.28	-0.36	-0.54	-0.33	-0.33	0.22	-0.03		-0.15	SMID
PLG	0.76	0.91	0.72	0.44	0.6	0.78	0.44	0.39	-0.15		PLG
	USAU	VGZ	DC	VOXR	TRX	CTGO	NAMM	GLDG	SMID	PLG

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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

CTGO	+ 0.96	DC
PLG	+ 0.91	VGZ
TRX	+ 0.9	DC
CTGO	+ 0.86	TRX
VOXR	+ 0.81	DC
CTGO	+ 0.79	USAU

High negative correlations

SMID	- 0.54	VOXR
NAMM	- 0.43	VOXR
SMID	- 0.36	DC
SMID	- 0.33	CTGO
SMID	- 0.33	TRX
NAMM	- 0.32	TRX

Risk-Adjusted Indicators

There is a big difference between Blue Stock performing well and Blue 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 Blue 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
USAU	3.04	0.50	0.16	0.50	2.92	(3.77)	7.88	(5.03)	16.48
VGZ	3.51	0.02	0.01	0.09	3.95	(4.26)	7.27	(7.63)	22.27
DC	2.81	0.40	0.10	0.34	3.72	(2.89)	4.73	(4.76)	22.73
VOXR	2.56	0.35	0.09	2.30	3.02	(2.85)	5.48	(5.44)	15.58
TRX	4.06	0.79	0.16	0.53	4.08	(5.33)	9.21	(8.47)	37.42
CTGO	2.42	0.24	0.08	0.25	2.83	(2.50)	5.44	(4.85)	13.96
NAMM	4.44	(1.48)	0.00	(6.05)	0.00	0.00	10.13	(10.71)	55.70
GLDG	3.36	0.21	0.05	0.29	4.02	(4.07)	9.15	(6.72)	26.87
SMID	2.20	(0.08)	0.00	(0.19)	0.00	0.00	4.53	(4.27)	13.48
PLG	4.51	0.01	0.03	0.07	5.28	(5.00)	8.91	(9.84)	26.91

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