Dore Copper Correlations
| DCMC Stock | CAD 0.14 0.01 6.67% |
The current 90-days correlation between Dore Copper Mining and First Majestic Silver is 0.23 (i.e., Modest diversification). The correlation of Dore Copper 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.
Dore Copper Correlation With Market
Significant diversification
The correlation between Dore Copper Mining and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dore Copper Mining and DJI in the same portfolio, assuming nothing else is changed.
Dore |
The ability to find closely correlated positions to Dore Copper could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Dore Copper 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 Dore Copper - 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 Dore Copper Mining to buy it.
Moving together with Dore Stock
| 0.76 | AG | First Majestic Silver | PairCorr |
| 0.88 | IE | Ivanhoe Energy | PairCorr |
| 0.75 | FDY | Faraday Copper Corp | PairCorr |
| 0.77 | NVDA | NVIDIA CDR | PairCorr |
| 0.61 | GOOG | Alphabet CDR | PairCorr |
Moving against Dore Stock
Related Correlations Analysis
| 0.86 | 0.32 | 0.78 | -0.32 | AG | ||
| 0.86 | 0.12 | 0.91 | -0.52 | IE | ||
| 0.32 | 0.12 | 0.03 | 0.28 | ORE | ||
| 0.78 | 0.91 | 0.03 | -0.56 | FDY | ||
| -0.32 | -0.52 | 0.28 | -0.56 | INFM | ||
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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
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Risk-Adjusted Indicators
There is a big difference between Dore Stock performing well and Dore Copper 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 Dore Copper'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AG | 2.89 | 0.28 | 0.03 | (0.45) | 2.89 | 6.12 | 19.85 | |||
| IE | 2.74 | 0.52 | 0.14 | 2.10 | 2.84 | 5.97 | 19.82 | |||
| ORE | 2.76 | (0.24) | 0.00 | 2.01 | 0.00 | 5.19 | 18.09 | |||
| FDY | 1.52 | 0.24 | 0.02 | (0.31) | 1.65 | 3.37 | 9.12 | |||
| INFM | 3.38 | (0.40) | 0.00 | (7.80) | 0.00 | 0.00 | 82.86 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Dore Copper 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.Did you try this?
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Alpha FinderUse alpha and beta coefficients to find investment opportunities after accounting for the risk |
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Dore Copper Corporate Management
Elected by the shareholders, the Dore Copper's board of directors comprises two types of representatives: Dore Copper inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Dore. The board's role is to monitor Dore Copper's management team and ensure that shareholders' interests are well served. Dore Copper's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Dore Copper's outside directors are responsible for providing unbiased perspectives on the board's policies.