Goldcliff Resource Correlations

GCFFF Stock

USD 0.06 0 8.11%

The current 90-days correlation between Goldcliff Resource and Tombill Mines Limited is -0.03 (i.e., Good diversification). The correlation of Goldcliff Resource 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.

Goldcliff Resource Correlation With Market

Poor diversification

The correlation between Goldcliff Resource and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Goldcliff Resource and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Goldcliff Pink Sheet

0.66	NEM	Newmont Goldcorp Corp Aggressive Push	Pair Corr
0.68	AEM	Agnico Eagle Mines	Pair Corr
0.67	WPM	Wheaton Precious Metals	Pair Corr
0.64	AU	AngloGold Ashanti plc	Pair Corr
0.71	KGC	Kinross Gold Aggressive Push	Pair Corr
0.64	ZIJMY	Zijin Mining Group	Pair Corr
0.67	ZIJMF	Zijin Mining Group	Pair Corr
0.67	GFI	Gold Fields Buyout Trend	Pair Corr
0.69	CET	Central Securities	Pair Corr
0.74	DAR	Darling Ingredients	Pair Corr
0.69	HL	Hecla Mining	Pair Corr
0.61	HYMC	Hycroft Mining Holding Trending	Pair Corr
0.66	WAL	Western Alliance Ban	Pair Corr
0.61	ACLS	Axcelis Technologies	Pair Corr
0.64	BIOA	BioAge Labs	Pair Corr
0.63	LINC	Lincoln Educational	Pair Corr
0.67	TENX	Tenax Therapeutics Downward Rally	Pair Corr

Moving against Goldcliff Pink Sheet

0.42

DOCKF

Beyond Medical Techn

Pair Corr

Related Correlations Analysis

	TBLLF	PGOL	FGLDF	ASWRF	OREAF	NVGLF	LRDJF	HELOF	ELMGF	SMPEF
TBLLF		0.16	0.02	0.03	0.0	-0.15	0.07	-0.07	-0.2	0.06	TBLLF
PGOL	0.16		-0.08	0.8	0.0	0.55	-0.34	0.45	-0.44	0.67	PGOL
FGLDF	0.02	-0.08		-0.17	0.0	-0.15	0.2	-0.08	0.36	-0.4	FGLDF
ASWRF	0.03	0.8	-0.17		0.0	0.69	-0.31	0.36	-0.51	0.77	ASWRF
OREAF	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	OREAF
NVGLF	-0.15	0.55	-0.15	0.69	0.0		-0.19	0.21	-0.29	0.59	NVGLF
LRDJF	0.07	-0.34	0.2	-0.31	0.0	-0.19		-0.42	0.54	-0.51	LRDJF
HELOF	-0.07	0.45	-0.08	0.36	0.0	0.21	-0.42		-0.59	0.35	HELOF
ELMGF	-0.2	-0.44	0.36	-0.51	0.0	-0.29	0.54	-0.59		-0.69	ELMGF
SMPEF	0.06	0.67	-0.4	0.77	0.0	0.59	-0.51	0.35	-0.69		SMPEF
	TBLLF	PGOL	FGLDF	ASWRF	OREAF	NVGLF	LRDJF	HELOF	ELMGF	SMPEF

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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

ASWRF	+ 0.8	PGOL
SMPEF	+ 0.77	ASWRF
NVGLF	+ 0.69	ASWRF
SMPEF	+ 0.67	PGOL
SMPEF	+ 0.59	NVGLF
NVGLF	+ 0.55	PGOL

High negative correlations

SMPEF	- 0.69	ELMGF
ELMGF	- 0.59	HELOF
SMPEF	- 0.51	LRDJF
ELMGF	- 0.51	ASWRF
ELMGF	- 0.44	PGOL
HELOF	- 0.42	LRDJF

Risk-Adjusted Indicators

There is a big difference between Goldcliff Pink Sheet performing well and Goldcliff Resource 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 Goldcliff Resource'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
TBLLF	7.25	1.10	0.04	(0.71)	8.89	(19.40)	26.00	(21.52)	92.91
PGOL	9.43	2.31	0.16	0.78	10.34	(15.89)	21.65	(18.79)	124.32
FGLDF	10.26	0.24	0.02	0.16	12.47	(12.51)	25.93	(21.43)	61.48
ASWRF	5.98	1.67	0.12	(0.58)	6.00	(12.98)	19.35	(9.09)	68.33
OREAF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NVGLF	5.78	0.62	0.07	0.28	6.01	(11.41)	16.67	(11.11)	50.00
LRDJF	7.99	0.76	0.03	(0.70)	9.75	(20.94)	29.56	(23.92)	91.93
HELOF	19.44	3.73	0.12	1.76	21.38	(29.16)	60.83	(41.67)	115.38
ELMGF	8.17	(0.07)	0.00	0.51	0.00	0.00	16.56	(16.57)	54.42
SMPEF	2.87	1.15	0.00	(0.69)	0.00	0.00	8.27	(0.23)	69.12

Be your own money manager

Our tools can tell you how much better you can do entering a position in Goldcliff Resource 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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