Golden Star Correlations

GLNS Stock

USD 0.75 0.00 0.00%

The correlation of Golden Star 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Golden Star Correlation With Market

Significant diversification

The correlation between Golden Star Resource and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Golden Star Resource and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Golden OTC Stock

0.68

MRK

Merck Company

Pair Corr

Moving against Golden OTC Stock

0.84	KO	Coca Cola	Pair Corr
0.84	T	ATT Inc	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.75	IBM	International Business	Pair Corr
0.73	CSCO	Cisco Systems	Pair Corr
0.63	COST	Costco Wholesale Corp	Pair Corr
0.61	GE	GE Aerospace	Pair Corr
0.58	INTC	Intel Upward Rally	Pair Corr
0.56	LH	Laboratory	Pair Corr
0.52	OAK-PB	Oaktree Capital Group Earnings Call This Week	Pair Corr
0.49	CVX	Chevron Corp	Pair Corr
0.47	CYBQF	CYBERDYNE	Pair Corr
0.37	RSLBF	RaySearch Laboratories	Pair Corr
0.33	COHG	Cheetah Oil Gas	Pair Corr

Related Correlations Analysis

	ESHSF	BLDE	FNNNF	SHOM	AIQUF	MFGCF	WZZAF	TPH
ESHSF		0.0	0.0	0.0	0.0	0.0	0.0	0.0	ESHSF
BLDE	0.0		-0.69	0.0	-0.84	-0.08	-0.53	0.66	BLDE
FNNNF	0.0	-0.69		0.0	0.72	-0.05	0.53	-0.73	FNNNF
SHOM	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SHOM
AIQUF	0.0	-0.84	0.72	0.0		0.12	0.62	-0.71	AIQUF
MFGCF	0.0	-0.08	-0.05	0.0	0.12		-0.05	-0.07	MFGCF
WZZAF	0.0	-0.53	0.53	0.0	0.62	-0.05		-0.56	WZZAF
TPH	0.0	0.66	-0.73	0.0	-0.71	-0.07	-0.56		TPH
	ESHSF	BLDE	FNNNF	SHOM	AIQUF	MFGCF	WZZAF	TPH

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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

AIQUF	+ 0.72	FNNNF
TPH	+ 0.66	BLDE
WZZAF	+ 0.62	AIQUF
WZZAF	+ 0.53	FNNNF
MFGCF	+ 0.12	AIQUF
BLDE	+ 0.0	ESHSF

High negative correlations

AIQUF	- 0.84	BLDE
TPH	- 0.73	FNNNF
TPH	- 0.71	AIQUF
FNNNF	- 0.69	BLDE
TPH	- 0.56	WZZAF
WZZAF	- 0.53	BLDE

Risk-Adjusted Indicators

There is a big difference between Golden OTC Stock performing well and Golden Star 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 Golden Star'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
ESHSF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BLDE	3.21	(0.24)	0.00	(0.32)	0.00	0.00	7.07	(7.51)	24.41
FNNNF	1.89	0.79	0.00	(0.95)	0.00	0.00	9.69	0.00	20.75
SHOM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AIQUF	1.18	0.28	0.29	21.82	1.15	(1.31)	3.44	(2.51)	6.71
MFGCF	2.28	0.00	0.00	(0.17)	0.00	0.00	5.69	(5.47)	17.86
WZZAF	1.00	0.30	0.00	(0.56)	0.00	0.00	3.95	0.00	17.78
TPH	1.70	(0.23)	0.00	(0.37)	0.00	0.00	3.17	(3.59)	14.22

Be your own money manager

Our tools can tell you how much better you can do entering a position in Golden Star 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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