GoldMining Correlations
| GOLD Stock | CAD 2.21 0.01 0.45% |
The current 90-days correlation between GoldMining and First Mining Gold is 0.53 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GoldMining moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GoldMining moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
GoldMining Correlation With Market
Very weak diversification
The correlation between GoldMining and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GoldMining and DJI in the same portfolio, assuming nothing else is changed.
GoldMining |
The ability to find closely correlated positions to GoldMining could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GoldMining 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 GoldMining - 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 GoldMining to buy it.
Moving together with GoldMining Stock
| 0.74 | AG | First Majestic Silver | PairCorr |
| 0.62 | IE | Ivanhoe Energy | PairCorr |
| 0.75 | ORE | Orezone Gold Corp | PairCorr |
| 0.61 | AML | Argus Metals Corp | PairCorr |
| 0.62 | BCE | BCE Inc | PairCorr |
| 0.69 | MGA | Mega Uranium | PairCorr |
| 0.61 | SU | Suncor Energy | PairCorr |
| 0.79 | PSLV | Sprott Physical Silver | PairCorr |
| 0.76 | TUF | Honey Badger Silver | PairCorr |
| 0.66 | ATX | ATEX Resources | PairCorr |
| 0.65 | MU | Micron Technology | PairCorr |
| 0.8 | TUO | Teuton Resources Corp | PairCorr |
| 0.62 | GKO | Geekco Technologies Corp | PairCorr |
Related Correlations Analysis
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
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Risk-Adjusted Indicators
There is a big difference between GoldMining Stock performing well and GoldMining 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 GoldMining'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FF | 4.52 | 0.86 | 0.16 | 2.47 | 4.45 | 10.34 | 28.79 | |||
| FDR | 3.30 | 0.16 | 0.05 | 0.12 | 3.69 | 8.26 | 20.12 | |||
| SBI | 3.21 | 0.41 | 0.09 | 0.82 | 4.30 | 6.06 | 19.64 | |||
| SIG | 2.69 | 0.11 | 0.03 | 0.13 | 3.01 | 5.15 | 19.04 | |||
| JAG | 3.01 | 0.46 | 0.10 | 0.29 | 4.09 | 6.61 | 20.23 | |||
| LGD | 3.53 | 1.03 | 0.22 | 0.79 | 3.49 | 9.65 | 20.50 | |||
| HSLV | 4.36 | 1.68 | 0.35 | 0.95 | 3.95 | 13.70 | 29.26 | |||
| AMX | 2.86 | 0.43 | 0.09 | 0.91 | 3.97 | 5.63 | 23.27 | |||
| LIRC | 2.03 | 0.69 | 0.31 | 0.87 | 1.63 | 3.46 | 31.21 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in GoldMining 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 Portfolio Backtesting Now
Portfolio BacktestingAvoid under-diversification and over-optimization by backtesting your portfolios |
| All Next | Launch Module |
GoldMining Corporate Management
Elected by the shareholders, the GoldMining's board of directors comprises two types of representatives: GoldMining inside directors who are chosen from within the company, and outside directors, selected externally and held independent of GoldMining. The board's role is to monitor GoldMining's management team and ensure that shareholders' interests are well served. GoldMining'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, GoldMining's outside directors are responsible for providing unbiased perspectives on the board's policies.
| Katherine Arblaster | Social Environment | Profile | |
| BCom BComm | Member Corp | Profile | |
| Alastair Still | Chief Officer | Profile | |
| YongJae LLB | General Counsel | Profile | |
| Tim Smith | VP GoldMining | Profile |