Gunpoint Exploration Correlations

CJIMF Stock

USD 0.70 0.05 7.69%

The current 90-days correlation between Gunpoint Exploration and Star Diamond is -0.1 (i.e., Good diversification). The correlation of Gunpoint Exploration 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.

Gunpoint Exploration Correlation With Market

Poor diversification

The correlation between Gunpoint Exploration and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gunpoint Exploration and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Gunpoint Exploration could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gunpoint Exploration 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 Gunpoint Exploration - 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 Gunpoint Exploration to buy it.

Moving together with Gunpoint Pink Sheet

0.71	AGPPF	Anglo American Platinum	Pair Corr
0.73	ANGPY	Valterra Platinum	Pair Corr
0.79	IMPUY	Impala Platinum Holdings	Pair Corr
0.7	IMPUF	Impala Platinum Holdings	Pair Corr
0.85	BVN	Compania de Minas	Pair Corr
0.78	FNLPF	Fresnillo PLC	Pair Corr
0.73	TFPM	Triple Flag Precious	Pair Corr
0.81	PPTA	Perpetua Resources Corp	Pair Corr
0.83	EXK	Endeavour Silver Corp	Pair Corr
0.62	FMCB	Farmers Merchants Bancorp Earnings Call Today	Pair Corr
0.8	DAIUF	Daifuku Co	Pair Corr
0.73	FUWAF	Furukawa Electric	Pair Corr
0.69	BWA	BorgWarner Earnings Call This Week	Pair Corr
0.62	HST	Host Hotels Resorts	Pair Corr
0.61	BBAR	BBVA Banco Frances	Pair Corr
0.77	AXIN	Axiom Intelligence	Pair Corr
0.71	DIOD	Diodes Incorporated Earnings Call This Week	Pair Corr
0.78	TERRF	Terna Rete	Pair Corr
0.71	TCX	Tucows Inc	Pair Corr
0.8	NHYDY	Norsk Hydro ASA	Pair Corr
0.84	CW	Curtiss Wright	Pair Corr
0.68	TLSNF	Telia Company	Pair Corr
0.68	PGEZF	Group Ten Metals	Pair Corr
0.91	WFG	West Fraser Timber	Pair Corr
0.71	UGP	Ultrapar Participacoes	Pair Corr

Moving against Gunpoint Pink Sheet

0.64	NDEKY	Nitto Denko Corp	Pair Corr
0.54	ENSV	Enservco	Pair Corr

Related Correlations Analysis

	PNTRF	KGFMF	AKEMF	SHGDF	AUCUF	AGLDF	NMEX	STRFF	LBCMF	SUNPF
PNTRF		0.34	0.12	0.07	0.68	0.74	0.07	0.55	0.84	0.41	PNTRF
KGFMF	0.34		0.24	0.31	0.57	0.64	-0.3	0.86	0.66	0.85	KGFMF
AKEMF	0.12	0.24		0.44	0.46	0.19	-0.36	0.26	0.28	0.27	AKEMF
SHGDF	0.07	0.31	0.44		0.25	0.11	-0.22	0.3	0.15	0.18	SHGDF
AUCUF	0.68	0.57	0.46	0.25		0.71	-0.25	0.75	0.84	0.53	AUCUF
AGLDF	0.74	0.64	0.19	0.11	0.71		-0.13	0.7	0.88	0.7	AGLDF
NMEX	0.07	-0.3	-0.36	-0.22	-0.25	-0.13		-0.21	-0.13	-0.24	NMEX
STRFF	0.55	0.86	0.26	0.3	0.75	0.7	-0.21		0.77	0.79	STRFF
LBCMF	0.84	0.66	0.28	0.15	0.84	0.88	-0.13	0.77		0.73	LBCMF
SUNPF	0.41	0.85	0.27	0.18	0.53	0.7	-0.24	0.79	0.73		SUNPF
	PNTRF	KGFMF	AKEMF	SHGDF	AUCUF	AGLDF	NMEX	STRFF	LBCMF	SUNPF

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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

LBCMF	+ 0.88	AGLDF
STRFF	+ 0.86	KGFMF
SUNPF	+ 0.85	KGFMF
LBCMF	+ 0.84	PNTRF
LBCMF	+ 0.84	AUCUF
SUNPF	+ 0.79	STRFF

High negative correlations

NMEX	- 0.36	AKEMF
NMEX	- 0.3	KGFMF
NMEX	- 0.25	AUCUF
SUNPF	- 0.24	NMEX
NMEX	- 0.22	SHGDF
STRFF	- 0.21	NMEX

Risk-Adjusted Indicators

There is a big difference between Gunpoint Pink Sheet performing well and Gunpoint Exploration 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 Gunpoint Exploration'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
PNTRF	9.04	1.13	0.09	0.55	10.99	(12.29)	23.53	(26.32)	68.97
KGFMF	6.23	1.71	0.20	(1.51)	5.10	(11.02)	19.35	(10.00)	53.28
AKEMF	4.63	(0.37)	0.00	(0.16)	0.00	0.00	12.50	(11.11)	43.18
SHGDF	8.82	1.39	0.04	0.62	10.56	(50.00)	50.00	(33.33)	83.33
AUCUF	3.63	0.40	0.05	(0.61)	3.55	(7.86)	10.00	(6.25)	27.84
AGLDF	9.00	1.94	0.14	0.57	8.18	(19.60)	27.27	(15.38)	67.22
NMEX	7.27	0.67	0.06	0.42	7.90	(14.08)	16.67	(15.00)	83.85
STRFF	2.47	0.61	0.08	(2.07)	2.69	(5.15)	7.41	(4.35)	21.52
LBCMF	6.67	1.53	0.21	0.90	5.66	(9.78)	15.79	(11.43)	45.10
SUNPF	4.64	0.54	0.06	0.55	5.39	(7.26)	12.00	(10.00)	33.33

Be your own money manager

Our tools can tell you how much better you can do entering a position in Gunpoint Exploration 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.

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