Compass Gold Correlations

COGDF Stock

USD 0.14 0.01 7.69%

The current 90-days correlation between Compass Gold and Grande Portage Resources is -0.02 (i.e., Good diversification). The correlation of Compass 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.

Compass Gold Correlation With Market

Good diversification

The correlation between Compass Gold and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Compass Gold and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Compass 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 Compass 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 Compass 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 Compass Gold to buy it.

Moving together with Compass Pink Sheet

0.68	PBCRY	Bank Central Asia Earnings Call This Week	Pair Corr
0.61	PNGZF	Paringa Resources	Pair Corr
0.67	DQ	Daqo New Energy	Pair Corr

Moving against Compass Pink Sheet

0.51	AEM	Agnico Eagle Mines	Pair Corr
0.38	ZIJMF	Zijin Mining Group	Pair Corr
0.35	GFI	Gold Fields	Pair Corr
0.33	ZIJMY	Zijin Mining Group	Pair Corr
0.63	YORKF	York Harbour Metals	Pair Corr
0.61	JAKK	JAKKS Pacific	Pair Corr
0.41	MCHP	Microchip Technology	Pair Corr

Related Correlations Analysis

	PHNMF	GPTRF	VLCJF	LVXFF	AMQFF	TAJIF	PUMXF	BRWXF	CGLCF	BONXF
PHNMF		-0.3	-0.58	-0.24	-0.19	-0.09	0.15	-0.05	-0.1	0.67	PHNMF
GPTRF	-0.3		-0.34	0.62	0.73	0.86	0.4	0.77	0.84	-0.04	GPTRF
VLCJF	-0.58	-0.34		-0.21	-0.29	-0.5	-0.46	-0.53	-0.51	-0.71	VLCJF
LVXFF	-0.24	0.62	-0.21		0.86	0.61	0.65	0.8	0.71	-0.3	LVXFF
AMQFF	-0.19	0.73	-0.29	0.86		0.67	0.68	0.87	0.79	-0.19	AMQFF
TAJIF	-0.09	0.86	-0.5	0.61	0.67		0.4	0.75	0.81	0.09	TAJIF
PUMXF	0.15	0.4	-0.46	0.65	0.68	0.4		0.71	0.66	0.18	PUMXF
BRWXF	-0.05	0.77	-0.53	0.8	0.87	0.75	0.71		0.88	0.06	BRWXF
CGLCF	-0.1	0.84	-0.51	0.71	0.79	0.81	0.66	0.88		0.13	CGLCF
BONXF	0.67	-0.04	-0.71	-0.3	-0.19	0.09	0.18	0.06	0.13		BONXF
	PHNMF	GPTRF	VLCJF	LVXFF	AMQFF	TAJIF	PUMXF	BRWXF	CGLCF	BONXF

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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

CGLCF	+ 0.88	BRWXF
BRWXF	+ 0.87	AMQFF
TAJIF	+ 0.86	GPTRF
AMQFF	+ 0.86	LVXFF
CGLCF	+ 0.84	GPTRF
CGLCF	+ 0.81	TAJIF

High negative correlations

BONXF	- 0.71	VLCJF
VLCJF	- 0.58	PHNMF
BRWXF	- 0.53	VLCJF
CGLCF	- 0.51	VLCJF
TAJIF	- 0.5	VLCJF
PUMXF	- 0.46	VLCJF

Risk-Adjusted Indicators

There is a big difference between Compass Pink Sheet performing well and Compass 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 Compass 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
PHNMF	5.35	0.42	0.06	0.34	5.09	(11.02)	12.50	(10.00)	56.18
GPTRF	4.48	0.65	0.10	0.81	4.45	(6.92)	12.50	(6.25)	23.90
VLCJF	0.48	(0.05)	0.00	0.01	0.00	0.00	0.00	0.00	16.03
LVXFF	7.25	1.63	0.20	3.39	6.21	(10.55)	19.23	(10.00)	40.22
AMQFF	3.90	0.92	0.12	(6.40)	3.92	(6.51)	11.11	(7.69)	23.72
TAJIF	1.16	0.66	0.00	(0.93)	0.00	0.00	0.00	0.00	33.33
PUMXF	4.26	0.64	0.05	13.72	4.90	(11.47)	15.38	(8.33)	45.00
BRWXF	7.83	1.80	0.20	45.40	6.06	(12.93)	21.43	(12.50)	46.38
CGLCF	4.47	0.68	0.11	0.60	4.33	(6.75)	10.53	(8.33)	27.38
BONXF	2.76	(0.17)	0.00	(0.13)	0.00	0.00	7.69	(7.69)	31.76

Be your own money manager

Our tools can tell you how much better you can do entering a position in Compass Gold 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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Louis CA	CFO Sec	Profile
MS MSc	VP Director	Profile
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