Defiance Silver Correlations
| DEF Stock | | | CAD 0.31 0.04 11.43% |
The current 90-days correlation between Defiance Silver Corp and District Copper Corp is 0.02 (i.e., Significant diversification). The correlation of Defiance Silver 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.
Defiance Silver Correlation With Market
Poor diversification
The correlation between Defiance Silver Corp and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Silver Corp and DJI in the same portfolio, assuming nothing else is changed.
The ability to find closely correlated positions to Defiance Silver could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Defiance Silver 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 Defiance Silver - 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 Defiance Silver Corp to buy it.
Moving together with Defiance Stock
Moving against Defiance Stock
Related Correlations Analysis
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 |
Risk-Adjusted IndicatorsThere is a big difference between Defiance Stock performing well and Defiance Silver 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 Defiance Silver'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.
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Defiance Silver Corporate Management
Elected by the shareholders, the Defiance Silver's board of directors comprises two types of representatives: Defiance Silver inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Defiance. The board's role is to monitor Defiance Silver's management team and ensure that shareholders' interests are well served. Defiance Silver'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, Defiance Silver's outside directors are responsible for providing unbiased perspectives on the board's policies.