Globex Mining Correlations
| GLBXF Stock | USD 0.78 0.01 1.27% |
The current 90-days correlation between Globex Mining Enterprises and Ascendant Resources is 0.11 (i.e., Average diversification). The correlation of Globex Mining 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.
Globex Mining Correlation With Market
Good diversification
The correlation between Globex Mining Enterprises and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Globex Mining Enterprises and DJI in the same portfolio, assuming nothing else is changed.
Globex |
The ability to find closely correlated positions to Globex Mining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Globex Mining 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 Globex Mining - 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 Globex Mining Enterprises to buy it.
Moving together with Globex OTC Stock
| 0.77 | ATCOL | Atlas Corp | PairCorr |
| 0.79 | PCTTW | PureCycle Technologies | PairCorr |
| 0.88 | ASTSW | AST SpaceMobile | PairCorr |
| 0.9 | SSNLF | Samsung Electronics | PairCorr |
| 0.7 | SMFNF | Sumitomo Mitsui Financial Normal Trading | PairCorr |
| 0.79 | KB | KB Financial Group | PairCorr |
| 0.77 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.72 | WMT | Walmart Aggressive Push | PairCorr |
| 0.76 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.72 | HD | Home Depot | PairCorr |
| 0.83 | HPQ | HP Inc | PairCorr |
| 0.86 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.67 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.63 | DIS | Walt Disney | PairCorr |
| 0.7 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
Moving against Globex OTC Stock
| 0.85 | CHKEZ | Chesapeake Energy Symbol Change | PairCorr |
| 0.78 | CHKEL | Chesapeake Energy Symbol Change | PairCorr |
| 0.67 | GOEVW | Canoo Holdings | PairCorr |
| 0.61 | MAPSW | WM Technology | PairCorr |
| 0.59 | SHG | Shinhan Financial | PairCorr |
| 0.83 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.72 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.57 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.5 | PG | Procter Gamble | PairCorr |
| 0.48 | PFE | Pfizer Inc Aggressive Push | 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 Globex OTC Stock performing well and Globex Mining 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 Globex Mining'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 |
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