Getchell Gold Correlations

GGLDF Stock

USD 0.21 0.01 4.55%

The current 90-days correlation between Getchell Gold Corp and Royal Road Minerals is 0.04 (i.e., Significant diversification). The correlation of Getchell 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.

Getchell Gold Correlation With Market

Good diversification

The correlation between Getchell Gold Corp 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 Getchell Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Getchell 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 Getchell 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 Getchell 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 Getchell Gold Corp to buy it.

Moving against Getchell OTC Stock

0.68	GOLD	Gold Inc Symbol Change	Pair Corr
0.64	SHG	Shinhan Financial	Pair Corr
0.61	KB	KB Financial Group	Pair Corr
0.58	BKRKY	Bank Rakyat Earnings Call This Week	Pair Corr
0.44	AU	AngloGold Ashanti plc	Pair Corr
0.43	PPERY	Bank Mandiri Persero Normal Trading	Pair Corr
0.42	AEM	Agnico Eagle Mines	Pair Corr
0.39	PTBRY	Bank Negara Indonesia Downward Rally	Pair Corr
0.36	WPM	Wheaton Precious Metals	Pair Corr
0.35	ZIJMY	Zijin Mining Group	Pair Corr
0.35	GFI	Gold Fields Sell-off Trend	Pair Corr
0.34	ZIJMF	Zijin Mining Group	Pair Corr
0.74	BLE	BlackRock MIT II	Pair Corr
0.63	E	Eni SpA ADR Earnings Call This Week	Pair Corr
0.63	HBANM	Huntington Bancshares	Pair Corr
0.62	WF	Woori Financial Group	Pair Corr
0.54	CIG	Companhia Energetica	Pair Corr
0.53	ASX	ASE Industrial Holding	Pair Corr
0.51	MOG-A	Moog Inc	Pair Corr
0.46	WZZZY	Wizz Air Holdings	Pair Corr
0.42	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.36	BHB	Bar Harbor Bankshares	Pair Corr
0.72	AIQUF	LAir Liquide SA	Pair Corr
0.61	DFKCY	Daifuku Co	Pair Corr
0.59	DAR	Darling Ingredients	Pair Corr
0.57	ALL-PB	Allstate	Pair Corr
0.55	CMTV	Community Bancorp Common	Pair Corr
0.55	SUBCY	Subsea 7 SA Earnings Call This Week	Pair Corr

Related Correlations Analysis

	RRDMF	WTHVF	KAMRF	HWAUF	ALVLF	TSGZF	YGTFF	RGCCF	AMQFF	JGLDF
RRDMF		0.7	-0.68	0.15	0.62	0.48	0.56	0.44	0.43	-0.4	RRDMF
WTHVF	0.7		-0.76	0.43	0.71	0.55	0.57	0.44	0.28	-0.42	WTHVF
KAMRF	-0.68	-0.76		-0.12	-0.74	-0.6	-0.57	-0.65	-0.59	0.5	KAMRF
HWAUF	0.15	0.43	-0.12		0.23	0.12	0.35	-0.16	-0.4	-0.01	HWAUF
ALVLF	0.62	0.71	-0.74	0.23		0.84	0.76	0.75	0.53	-0.66	ALVLF
TSGZF	0.48	0.55	-0.6	0.12	0.84		0.57	0.76	0.49	-0.75	TSGZF
YGTFF	0.56	0.57	-0.57	0.35	0.76	0.57		0.5	0.32	-0.32	YGTFF
RGCCF	0.44	0.44	-0.65	-0.16	0.75	0.76	0.5		0.64	-0.62	RGCCF
AMQFF	0.43	0.28	-0.59	-0.4	0.53	0.49	0.32	0.64		-0.36	AMQFF
JGLDF	-0.4	-0.42	0.5	-0.01	-0.66	-0.75	-0.32	-0.62	-0.36		JGLDF
	RRDMF	WTHVF	KAMRF	HWAUF	ALVLF	TSGZF	YGTFF	RGCCF	AMQFF	JGLDF

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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

TSGZF	+ 0.84	ALVLF
YGTFF	+ 0.76	ALVLF
RGCCF	+ 0.76	TSGZF
RGCCF	+ 0.75	ALVLF
ALVLF	+ 0.71	WTHVF
WTHVF	+ 0.7	RRDMF

High negative correlations

KAMRF	- 0.76	WTHVF
JGLDF	- 0.75	TSGZF
ALVLF	- 0.74	KAMRF
KAMRF	- 0.68	RRDMF
JGLDF	- 0.66	ALVLF
RGCCF	- 0.65	KAMRF

Risk-Adjusted Indicators

There is a big difference between Getchell OTC Stock performing well and Getchell 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 Getchell 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
RRDMF	3.85	0.55	0.06	1.22	3.89	(10.38)	12.50	(6.67)	45.24
WTHVF	4.70	1.17	0.13	5.01	4.08	(9.83)	10.00	(8.33)	60.53
KAMRF	2.93	(0.89)	0.00	(0.63)	0.00	0.00	0.00	0.00	111.79
HWAUF	4.50	0.14	0.05	0.15	5.16	(6.32)	9.52	(6.52)	45.74
ALVLF	5.44	1.28	0.17	0.83	4.76	(8.63)	12.50	(9.09)	29.39
TSGZF	4.51	1.04	0.12	0.82	4.31	(8.62)	9.09	(8.33)	31.93
YGTFF	4.92	0.95	0.13	0.89	4.07	(11.22)	13.33	(7.14)	62.50
RGCCF	4.44	0.56	0.07	(1.53)	4.48	(6.64)	10.71	(9.09)	37.19
AMQFF	4.55	1.28	0.22	0.65	4.04	(7.18)	11.54	(4.76)	32.47
JGLDF	3.45	(0.21)	0.00	0.71	0.00	0.00	8.54	(5.79)	28.97

Be your own money manager

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

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