Globex Mining Correlations
| GMX Stock | CAD 1.08 0.03 2.70% |
The current 90-days correlation between Globex Mining Enterprises and Solitario Exploration Royalty is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Globex Mining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Globex Mining Enterprises moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Globex Mining Correlation With Market
Significant diversification
The correlation between Globex Mining Enterprises and DJI is 0.02 (i.e., Significant 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 Stock
| 0.77 | AG | First Majestic Silver | PairCorr |
| 0.88 | IE | Ivanhoe Energy | PairCorr |
| 0.89 | FDY | Faraday Copper Corp | PairCorr |
| 0.73 | JPM | JPMorgan Chase | PairCorr |
| 0.79 | BOFA | Bank of America | PairCorr |
| 0.84 | RY-PM | Royal Bank Earnings Call This Week | PairCorr |
| 0.77 | RY-PS | Royal Bank Earnings Call This Week | PairCorr |
| 0.77 | RY | Royal Bank Earnings Call This Week | PairCorr |
| 0.9 | RY-PJ | Royal Bank Earnings Call This Week | PairCorr |
| 0.8 | TD-PFI | Toronto Dominion Bank | PairCorr |
Moving against Globex Stock
Related Correlations Analysis
| 0.47 | -0.63 | 0.18 | 0.65 | CBG | ||
| 0.47 | -0.59 | 0.76 | 0.51 | ETG | ||
| -0.63 | -0.59 | -0.34 | -0.57 | SLR | ||
| 0.18 | 0.76 | -0.34 | 0.29 | FSY | ||
| 0.65 | 0.51 | -0.57 | 0.29 | ERC | ||
| 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
| High negative correlations
|
Risk-Adjusted Indicators
There is a big difference between Globex Stock performing well and Globex Mining 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 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CBG | 2.80 | 0.28 | 0.03 | 0.52 | 3.11 | 10.00 | 31.31 | |||
| ETG | 2.33 | 0.57 | 0.15 | (1.16) | 2.23 | 5.24 | 19.87 | |||
| SLR | 2.40 | (0.22) | 0.00 | 0.39 | 0.00 | 5.05 | 23.58 | |||
| FSY | 4.57 | 0.60 | 0.11 | 0.91 | 4.32 | 12.28 | 23.24 | |||
| ERC | 2.19 | 0.24 | 0.00 | (0.52) | 0.00 | 11.11 | 55.84 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Globex Mining 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 My Watchlist Analysis Now
My Watchlist AnalysisAnalyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like |
| All Next | Launch Module |
Globex Mining Corporate Management
Elected by the shareholders, the Globex Mining's board of directors comprises two types of representatives: Globex Mining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Globex. The board's role is to monitor Globex Mining's management team and ensure that shareholders' interests are well served. Globex Mining's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Globex Mining's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Andrew Newbury | Corporate Secretary | Profile | |
| AccDir BSc | CEO Pres | Profile | |
| ACIS BComm | Chief Officer | Profile | |
| Andrew CPA | Corporate Secretary | Profile |