Gold Correlations
| GGSM Stock | USD 0.0006 0.0001 14.29% |
The current 90-days correlation between Gold And Gemstone and Ascendant Resources is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gold And Gemstone moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Gold Correlation With Market
Good diversification
The correlation between Gold And Gemstone and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gold And Gemstone and DJI in the same portfolio, assuming nothing else is changed.
Gold |
The ability to find closely correlated positions to 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 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 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 Gold And Gemstone to buy it.
Moving together with Gold Pink Sheet
| 0.72 | CHKEZ | Chesapeake Energy Symbol Change | PairCorr |
| 0.67 | CHKEL | Chesapeake Energy Symbol Change | PairCorr |
| 0.65 | MAPSW | WM Technology | PairCorr |
| 0.78 | GOEVW | Canoo Holdings | PairCorr |
| 0.76 | SHG | Shinhan Financial | PairCorr |
| 0.83 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.7 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.81 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Moving against Gold Pink Sheet
| 0.84 | PCTTW | PureCycle Technologies | PairCorr |
| 0.84 | SSNLF | Samsung Electronics | PairCorr |
| 0.74 | ASTSW | AST SpaceMobile | PairCorr |
| 0.72 | ATCOL | Atlas Corp | PairCorr |
| 0.63 | GCMGW | GCM Grosvenor | PairCorr |
| 0.59 | SMFNF | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.56 | MFG | Mizuho Financial | PairCorr |
| 0.53 | MUFG | Mitsubishi UFJ Financial | PairCorr |
| 0.46 | KB | KB Financial Group | PairCorr |
| 0.43 | MZHOF | Mizuho Financial Normal Trading | PairCorr |
| 0.42 | MBFJF | Mitsubishi UFJ Financial | PairCorr |
| 0.37 | JPHLF | Japan Post Holdings | PairCorr |
| 0.82 | WMT | Walmart Aggressive Push | PairCorr |
| 0.8 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.78 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.77 | HD | Home Depot | PairCorr |
| 0.73 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.71 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.69 | DIS | Walt Disney | PairCorr |
| 0.68 | HPQ | HP Inc | PairCorr |
| 0.59 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.48 | IBM | International Business Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.39 | MCD | McDonalds Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.38 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Gold Pink Sheet performing well and Gold 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 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ASDRF | 6.91 | 1.14 | 0.03 | (1.82) | 9.12 | 33.33 | 83.33 | |||
| CTXDF | 2.04 | (0.44) | 0.00 | (0.86) | 0.00 | 3.18 | 44.15 | |||
| AXREF | 4.08 | 0.73 | 0.06 | (2.00) | 4.35 | 10.00 | 32.47 | |||
| SAGGF | 6.26 | (0.33) | 0.00 | 0.38 | 0.00 | 13.25 | 56.45 | |||
| AAGFF | 4.90 | 0.50 | 0.04 | (0.40) | 4.98 | 10.26 | 26.99 | |||
| WLBMF | 3.98 | (0.13) | 0.00 | 0.62 | 0.00 | 20.00 | 36.67 | |||
| CBRSF | 5.03 | 2.53 | 0.00 | (0.53) | 0.00 | 0.00 | 183.33 | |||
| AUMTF | 0.60 | 0.05 | 0.00 | (0.34) | 0.00 | 0.00 | 36.67 | |||
| BRYGF | 1.66 | (0.08) | 0.00 | (0.06) | 0.00 | 0.00 | 42.00 | |||
| EDDYF | 5.12 | 0.30 | 0.02 | 0.30 | 7.73 | 31.94 | 87.64 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in 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?
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