K2 Gold Correlations

KTGDF Stock

USD 0.59 0.03 4.84%

The current 90-days correlation between K2 Gold and Freeman Gold Corp is 0.02 (i.e., Significant diversification). The correlation of K2 Gold 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.

K2 Gold Correlation With Market

Poor diversification

The correlation between K2 Gold and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding K2 Gold and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to K2 Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace K2 Gold 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 K2 Gold - 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 K2 Gold to buy it.

Moving together with KTGDF OTC Stock

0.71

CCL

Carnival

Pair Corr

Moving against KTGDF OTC Stock

0.57	PBCRF	PT Bank Central	Pair Corr
0.52	GOEVW	Canoo Holdings	Pair Corr
0.48	PBCRY	Bank Central Asia	Pair Corr
0.42	ADVWW	Advantage Solutions	Pair Corr
0.39	GCMGW	GCM Grosvenor	Pair Corr
0.38	PCTTW	PureCycle Technologies	Pair Corr
0.36	TLK	Telkom Indonesia Tbk	Pair Corr
0.31	MAPSW	WM Technology	Pair Corr
0.39	HWNI	High Wire Networks	Pair Corr

Related Correlations Analysis

	FMANF	GNGXF	ANKOF	FTBYF	TETOF	UGDIF	RDEXF	AUXXF	EQTRF	SICNF
FMANF		0.52	0.81	0.62	0.85	0.44	0.81	0.81	-0.35	0.68	FMANF
GNGXF	0.52		0.42	0.61	0.51	0.17	0.61	0.51	-0.12	0.24	GNGXF
ANKOF	0.81	0.42		0.28	0.57	0.31	0.7	0.57	-0.18	0.54	ANKOF
FTBYF	0.62	0.61	0.28		0.73	0.42	0.62	0.66	-0.41	0.49	FTBYF
TETOF	0.85	0.51	0.57	0.73		0.64	0.74	0.82	-0.55	0.78	TETOF
UGDIF	0.44	0.17	0.31	0.42	0.64		0.63	0.39	-0.31	0.67	UGDIF
RDEXF	0.81	0.61	0.7	0.62	0.74	0.63		0.62	-0.25	0.67	RDEXF
AUXXF	0.81	0.51	0.57	0.66	0.82	0.39	0.62		-0.64	0.52	AUXXF
EQTRF	-0.35	-0.12	-0.18	-0.41	-0.55	-0.31	-0.25	-0.64		-0.35	EQTRF
SICNF	0.68	0.24	0.54	0.49	0.78	0.67	0.67	0.52	-0.35		SICNF
	FMANF	GNGXF	ANKOF	FTBYF	TETOF	UGDIF	RDEXF	AUXXF	EQTRF	SICNF

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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

TETOF	+ 0.85	FMANF
AUXXF	+ 0.82	TETOF
ANKOF	+ 0.81	FMANF
RDEXF	+ 0.81	FMANF
AUXXF	+ 0.81	FMANF
SICNF	+ 0.78	TETOF

High negative correlations

EQTRF	- 0.64	AUXXF
EQTRF	- 0.55	TETOF
EQTRF	- 0.41	FTBYF
SICNF	- 0.35	EQTRF
EQTRF	- 0.35	FMANF
EQTRF	- 0.31	UGDIF

Risk-Adjusted Indicators

There is a big difference between KTGDF OTC Stock performing well and K2 Gold 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 K2 Gold'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
FMANF	5.07	1.51	0.22	(1.23)	4.02	(7.87)	10.53	(7.14)	34.09
GNGXF	8.11	0.49	0.03	0.96	9.65	(13.28)	22.22	(23.53)	64.39
ANKOF	4.01	0.71	0.11	0.69	3.82	(7.10)	12.50	(7.41)	28.93
FTBYF	3.64	0.28	0.03	(0.49)	4.38	(4.87)	8.00	(5.97)	29.07
TETOF	5.72	1.78	0.31	0.96	4.53	(8.57)	18.97	(7.25)	71.48
UGDIF	5.10	1.50	0.18	2.52	4.07	(9.57)	14.29	(7.69)	30.95
RDEXF	4.11	0.90	0.12	1.08	3.57	(8.11)	9.09	(7.69)	22.53
AUXXF	4.55	0.30	0.08	0.17	4.68	(5.71)	10.00	(8.06)	26.92
EQTRF	3.55	0.01	(0.01)	0.12	3.70	(7.85)	11.76	(5.88)	26.32
SICNF	5.71	1.18	0.15	1.61	4.69	(11.17)	16.67	(11.11)	46.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in K2 Gold 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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