Golden Star Correlations

GLNS Stock

USD 1.15 0.00 0.00%

The current 90-days correlation between Golden Star Resource and Autonomix Medical, Common is -0.01 (i.e., Good diversification). 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

Good diversification

The correlation between Golden Star Resource and DJI is -0.01 (i.e., Good 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

0.93	BANGN	Emera Maine PFD	Pair Corr
0.64	CVPBF	CP ALL Public	Pair Corr
0.9	NMPWP	Niagara Mohawk Power	Pair Corr
0.69	SCVPF	Siam Cement	Pair Corr
0.67	GVA	Granite Construction	Pair Corr
0.73	ADSK	Autodesk	Pair Corr
0.81	APLD	Applied Blockchain Trending	Pair Corr
0.78	STLD	Steel Dynamics Fiscal Year End 28th of January 2025	Pair Corr
0.69	NVDA	NVIDIA	Pair Corr
0.74	CRWD	Crowdstrike Holdings Earnings Call This Week	Pair Corr
0.68	ALAB	Astera Labs, Common Tech Boost	Pair Corr

Moving against Golden OTC Stock

0.82	NFPDF	Nissin Foods Holdings	Pair Corr
0.41	DAIUF	Daifuku	Pair Corr
0.65	AMIX	Autonomix Medical, Common	Pair Corr
0.56	EATBF	Eat Beyond Global	Pair Corr

Related Correlations Analysis

	ITRI	OHI	BKSY	RCAT	00108WAF7	SCHW	AMIX	EATBF	871829BH9
ITRI		0.39	0.21	0.58	-0.12	0.77	-0.42	-0.48	-0.25	ITRI
OHI	0.39		-0.26	0.07	0.05	0.46	-0.27	-0.4	0.01	OHI
BKSY	0.21	-0.26		0.6	0.01	0.44	-0.05	0.24	-0.61	BKSY
RCAT	0.58	0.07	0.6		-0.02	0.72	-0.3	0.03	-0.31	RCAT
00108WAF7	-0.12	0.05	0.01	-0.02		-0.07	0.08	0.27	-0.1	00108WAF7
SCHW	0.77	0.46	0.44	0.72	-0.07		-0.48	-0.36	-0.34	SCHW
AMIX	-0.42	-0.27	-0.05	-0.3	0.08	-0.48		0.25	-0.3	AMIX
EATBF	-0.48	-0.4	0.24	0.03	0.27	-0.36	0.25		-0.06	EATBF
871829BH9	-0.25	0.01	-0.61	-0.31	-0.1	-0.34	-0.3	-0.06		871829BH9
	ITRI	OHI	BKSY	RCAT	00108WAF7	SCHW	AMIX	EATBF	871829BH9

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

SCHW	+ 0.77	ITRI
SCHW	+ 0.72	RCAT
RCAT	+ 0.6	BKSY
RCAT	+ 0.58	ITRI
SCHW	+ 0.46	OHI
SCHW	+ 0.44	BKSY

High negative correlations

871829BH9	- 0.61	BKSY
AMIX	- 0.48	SCHW
EATBF	- 0.48	ITRI
AMIX	- 0.42	ITRI
EATBF	- 0.4	OHI
EATBF	- 0.36	SCHW

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
ITRI	1.45	0.13	0.08	0.23	1.59	(1.59)	3.35	(2.59)	10.19
OHI	0.83	0.12	(0.03)	(0.37)	1.05	(0.81)	1.70	(1.97)	5.15
BKSY	5.29	0.07	0.05	0.14	6.63	(6.10)	10.64	(8.34)	32.79
RCAT	5.90	1.42	0.27	0.87	4.84	(7.62)	14.60	(8.36)	29.03
00108WAF7	1.27	0.15	0.02	4.42	1.40	(1.38)	3.24	(2.55)	10.75
SCHW	1.06	0.26	0.20	0.41	0.69	(1.14)	2.77	(1.39)	9.62
AMIX	7.07	(0.02)	0.00	0.16	0.00	0.00	21.84	(15.75)	84.26
EATBF	15.75	3.38	0.13	(4.11)	13.84	(30.50)	54.17	(29.63)	221.76
871829BH9	1.15	0.11	0.02	0.41	1.32	(1.34)	1.53	(1.79)	7.03

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.

Did you try this?

Run Investing Opportunities Now

Investing Opportunities

Build portfolios using our predefined set of ideas and optimize them against your investing preferences

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC