Gander Gold Correlations

GANDF Stock

USD 0.14 0.00 0.00%

The current 90-days correlation between Gander Gold and Precipitate Gold Corp is 0.11 (i.e., Average diversification). The correlation of Gander 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.

Gander Gold Correlation With Market

Good diversification

The correlation between Gander Gold and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gander Gold and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against Gander OTC Stock

0.5	MSFT	Microsoft Aggressive Push	Pair Corr
0.44	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.44	HD	Home Depot	Pair Corr
0.38	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.37	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Related Correlations Analysis

	SICNF	BONXF	NKOSF	PREIF	TLRS	IRVRF	LOMLF	NFLDF	ANGVF	THM
SICNF		0.48	0.55	0.28	0.55	0.47	-0.02	0.52	0.38	0.03	SICNF
BONXF	0.48		0.56	0.21	0.55	0.61	0.3	0.57	0.48	0.44	BONXF
NKOSF	0.55	0.56		0.32	0.79	0.69	0.32	0.85	0.73	0.39	NKOSF
PREIF	0.28	0.21	0.32		0.49	0.32	-0.33	0.3	0.23	-0.22	PREIF
TLRS	0.55	0.55	0.79	0.49		0.74	0.12	0.81	0.64	0.24	TLRS
IRVRF	0.47	0.61	0.69	0.32	0.74		0.24	0.71	0.56	0.41	IRVRF
LOMLF	-0.02	0.3	0.32	-0.33	0.12	0.24		0.42	0.46	0.83	LOMLF
NFLDF	0.52	0.57	0.85	0.3	0.81	0.71	0.42		0.75	0.52	NFLDF
ANGVF	0.38	0.48	0.73	0.23	0.64	0.56	0.46	0.75		0.49	ANGVF
THM	0.03	0.44	0.39	-0.22	0.24	0.41	0.83	0.52	0.49		THM
	SICNF	BONXF	NKOSF	PREIF	TLRS	IRVRF	LOMLF	NFLDF	ANGVF	THM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

NFLDF	+ 0.85	NKOSF
THM	+ 0.83	LOMLF
NFLDF	+ 0.81	TLRS
TLRS	+ 0.79	NKOSF
ANGVF	+ 0.75	NFLDF
IRVRF	+ 0.74	TLRS

High negative correlations

LOMLF	- 0.33	PREIF
THM	- 0.22	PREIF
LOMLF	- 0.02	SICNF

Risk-Adjusted Indicators

There is a big difference between Gander OTC Stock performing well and Gander Gold 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 Gander 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
SICNF	6.77	0.28	0.00	0.01	0.00	0.00	14.94	(16.26)	37.33
BONXF	3.28	(0.21)	0.00	5.91	0.00	0.00	5.88	(10.00)	21.11
NKOSF	5.92	(0.08)	0.00	0.17	0.00	0.00	13.21	(13.88)	32.11
PREIF	5.29	0.07	0.00	0.55	6.62	(6.34)	12.38	(11.67)	31.86
TLRS	5.40	(0.24)	0.00	(0.04)	0.00	0.00	20.00	(16.67)	61.90
IRVRF	4.22	0.02	(0.02)	0.03	4.84	(6.64)	11.54	(8.33)	31.38
LOMLF	1.90	(0.09)	0.00	0.88	0.00	0.00	4.76	(4.55)	9.76
NFLDF	4.09	(0.50)	0.00	(0.67)	0.00	0.00	9.09	(10.00)	26.80
ANGVF	4.28	0.12	0.00	0.01	0.00	0.00	11.54	(13.95)	42.14
THM	3.76	(0.25)	0.00	(0.05)	0.00	0.00	8.00	(8.77)	26.29

Be your own money manager

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

Did you try this?

Run Portfolio Center Now

Portfolio Center

All portfolio management and optimization tools to improve performance of your portfolios

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC