Freegold Ventures Correlations

FGOVF Stock

USD 0.57 0.01 1.72%

The current 90-days correlation between Freegold Ventures and Mundoro Capital is 0.14 (i.e., Average diversification). The correlation of Freegold Ventures 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.

Freegold Ventures Correlation With Market

Good diversification

The correlation between Freegold Ventures Limited and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freegold Ventures Limited and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Freegold OTC Stock

0.67	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.66	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Freegold OTC Stock

0.53	AHT	Ashford Hospitality Trust	Pair Corr
0.44	MAPSW	WM Technology	Pair Corr
0.4	BRK-A	Berkshire Hathaway	Pair Corr
0.39	HMTLF	Hitachi Metals	Pair Corr
0.38	MULN	Mullen Automotive	Pair Corr
0.33	ATCOL	Atlas Corp	Pair Corr
0.6	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.5	BAC	Bank of America Aggressive Push	Pair Corr
0.4	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Related Correlations Analysis

	MUNMF	NRRMF	ESVNF	VLTMF	CTXDF	AXREF	SSEBF	GGTHF	PFFOF
MUNMF		0.0	0.2	0.0	0.34	-0.43	0.37	0.04	0.37	MUNMF
NRRMF	0.0		0.0	1.0	0.0	0.0	0.0	0.0	0.0	NRRMF
ESVNF	0.2	0.0		0.0	0.7	0.13	0.45	0.2	0.49	ESVNF
VLTMF	0.0	1.0	0.0		0.0	0.0	0.0	0.0	0.0	VLTMF
CTXDF	0.34	0.0	0.7	0.0		-0.26	0.51	0.35	0.59	CTXDF
AXREF	-0.43	0.0	0.13	0.0	-0.26		-0.04	-0.38	-0.12	AXREF
SSEBF	0.37	0.0	0.45	0.0	0.51	-0.04		0.39	0.64	SSEBF
GGTHF	0.04	0.0	0.2	0.0	0.35	-0.38	0.39		0.33	GGTHF
PFFOF	0.37	0.0	0.49	0.0	0.59	-0.12	0.64	0.33		PFFOF
	MUNMF	NRRMF	ESVNF	VLTMF	CTXDF	AXREF	SSEBF	GGTHF	PFFOF

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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

VLTMF	+ 1.0	NRRMF
CTXDF	+ 0.7	ESVNF
PFFOF	+ 0.64	SSEBF
PFFOF	+ 0.59	CTXDF
SSEBF	+ 0.51	CTXDF
PFFOF	+ 0.49	ESVNF

High negative correlations

AXREF	- 0.43	MUNMF
GGTHF	- 0.38	AXREF
AXREF	- 0.26	CTXDF
PFFOF	- 0.12	AXREF
SSEBF	- 0.04	AXREF
PFFOF	- 0.0	VLTMF

Risk-Adjusted Indicators

There is a big difference between Freegold OTC Stock performing well and Freegold Ventures OTC Stock 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 Freegold Ventures' 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
MUNMF	1.64	(0.19)	0.00	(0.94)	0.00	0.00	7.14	(7.14)	15.38
NRRMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ESVNF	5.64	(0.08)	0.00	0.11	0.00	0.00	10.00	(10.00)	141.39
VLTMF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CTXDF	2.24	(0.78)	0.00	(0.22)	0.00	0.00	3.18	(8.71)	44.15
AXREF	4.13	0.63	0.05	(1.56)	4.48	(9.68)	10.00	(7.69)	32.47
SSEBF	6.08	0.14	0.01	0.27	8.66	(12.80)	14.29	(18.67)	82.47
GGTHF	44.99	18.20	0.29	(0.83)	25.56	(150.00)	215.99	(69.60)	499.08
PFFOF	4.80	(0.11)	0.00	0.05	6.64	(15.92)	15.04	(13.33)	69.22

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Our tools can tell you how much better you can do entering a position in Freegold Ventures 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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