Bonanza Goldfields Correlations
| BONZDelisted Stock | USD 0 0.0001 11.11% |
The current 90-days correlation between Bonanza Goldfields and Metallis Resources is 0.09 (i.e., Significant diversification). The correlation of Bonanza Goldfields 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Bonanza Goldfields Correlation With Market
Good diversification
The correlation between Bonanza Goldfields and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bonanza Goldfields and DJI in the same portfolio, assuming nothing else is changed.
Bonanza |
The ability to find closely correlated positions to Bonanza Goldfields could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Bonanza Goldfields 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 Bonanza Goldfields - 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 Bonanza Goldfields to buy it.
Moving against Bonanza Pink Sheet
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| 0.43 | CIB | Bancolombia SA ADR | PairCorr |
| 0.38 | KB | KB Financial Group | PairCorr |
| 0.38 | ITCL | Banco Ita Chile | PairCorr |
| 0.68 | CAT | Caterpillar Sell-off Trend | PairCorr |
| 0.58 | CSCO | Cisco Systems | PairCorr |
| 0.54 | HD | Home Depot | PairCorr |
| 0.51 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.48 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.37 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.35 | MCD | McDonalds Sell-off Trend | PairCorr |
| 0.31 | DD | Dupont De Nemours Fiscal Year End 4th 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 Bonanza Pink Sheet performing well and Bonanza Goldfields 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 Bonanza Goldfields' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MTLFF | 5.39 | 0.65 | 0.06 | 2.24 | 5.90 | 14.29 | 31.25 | |||
| MCHHF | 1.10 | 0.48 | 0.00 | (4.75) | 0.00 | 0.00 | 31.58 | |||
| BSRUF | 1.41 | 0.68 | 0.00 | 1.89 | 0.00 | 0.00 | 25.00 | |||
| PMDRF | 2.38 | (0.78) | 0.00 | 2.87 | 0.00 | 2.25 | 50.00 | |||
| MUNMF | 1.48 | (0.08) | 0.00 | (0.53) | 0.00 | 7.69 | 15.48 | |||
| MURMF | 4.71 | 0.08 | 0.00 | 0.65 | 6.94 | 14.55 | 47.38 | |||
| GLBXF | 1.63 | 0.43 | 0.14 | (1.02) | 1.35 | 3.23 | 11.56 | |||
| HNCKF | 2.99 | 0.02 | (0.02) | 0.03 | 3.30 | 5.56 | 11.44 | |||
| CGMLF | 3.28 | 0.24 | 0.02 | 0.74 | 4.20 | 8.91 | 47.67 |
View Bonanza Goldfields Related Equities
| Risk & Return | Correlation |
Bonanza Goldfields Corporate Management
| Tee Tan | CEO Director | Profile | |
| ManChung Chan | S CFO | Profile | |
| Joshua Chu | Group Officer | Profile | |
| Marsella Cheng | PR Director | Profile |
Still Interested in Bonanza Goldfields?
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