Magellan Gold Correlations

MAGE Stock

USD 0.12 0.01 7.69%

The current 90-days correlation between Magellan Gold Corp and Clean Air Metals is -0.08 (i.e., Good diversification). The correlation of Magellan 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.

Magellan Gold Correlation With Market

Good diversification

The correlation between Magellan Gold Corp and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Magellan Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Magellan 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 Magellan 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 Magellan 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 Magellan Gold Corp to buy it.

Moving against Magellan Pink Sheet

0.44	AMIX	Autonomix Medical, Common	Pair Corr
0.34	EATBF	Eat Beyond Global	Pair Corr
0.34	00108WAF7	AEP TEX INC	Pair Corr

Related Correlations Analysis

	CLRMF	MSTSX	ABHYX	KNF	KLKNF	KMX	SEIC	KOS	GSHD
CLRMF		0.63	0.28	0.71	-0.23	-0.77	0.3	-0.46	0.32	CLRMF
MSTSX	0.63		0.33	0.7	-0.14	-0.65	0.47	-0.26	0.4	MSTSX
ABHYX	0.28	0.33		0.09	0.36	-0.36	-0.21	-0.01	-0.22	ABHYX
KNF	0.71	0.7	0.09		-0.55	-0.62	0.83	-0.63	0.81	KNF
KLKNF	-0.23	-0.14	0.36	-0.55		0.23	-0.67	0.59	-0.65	KLKNF
KMX	-0.77	-0.65	-0.36	-0.62	0.23		-0.34	0.53	-0.34	KMX
SEIC	0.3	0.47	-0.21	0.83	-0.67	-0.34		-0.59	0.97	SEIC
KOS	-0.46	-0.26	-0.01	-0.63	0.59	0.53	-0.59		-0.63	KOS
GSHD	0.32	0.4	-0.22	0.81	-0.65	-0.34	0.97	-0.63		GSHD
	CLRMF	MSTSX	ABHYX	KNF	KLKNF	KMX	SEIC	KOS	GSHD

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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

GSHD	+ 0.97	SEIC
SEIC	+ 0.83	KNF
GSHD	+ 0.81	KNF
KNF	+ 0.71	CLRMF
KNF	+ 0.7	MSTSX
MSTSX	+ 0.63	CLRMF

High negative correlations

KMX	- 0.77	CLRMF
SEIC	- 0.67	KLKNF
GSHD	- 0.65	KLKNF
KMX	- 0.65	MSTSX
GSHD	- 0.63	KOS
KOS	- 0.63	KNF

Risk-Adjusted Indicators

There is a big difference between Magellan Pink Sheet performing well and Magellan Gold 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 Magellan 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
CLRMF	6.86	0.79	0.11	0.49	7.13	(8.04)	15.38	(14.81)	68.92
MSTSX	0.49	0.04	(0.11)	(0.30)	0.52	(0.59)	1.21	(1.02)	2.80
ABHYX	0.16	0.00	(0.20)	0.08	0.26	(0.24)	0.34	(0.33)	1.91
KNF	1.60	0.25	0.15	0.23	1.87	(1.69)	4.01	(2.46)	12.96
KLKNF	0.18	(0.05)	0.00	(0.31)	0.00	0.00	0.00	0.00	6.03
KMX	1.44	(0.16)	0.00	(0.02)	0.00	0.00	4.14	(3.24)	8.69
SEIC	0.80	0.18	0.17	0.32	0.62	(0.93)	1.57	(1.56)	7.23
KOS	2.83	(0.33)	0.00	(0.16)	0.00	0.00	5.62	(6.18)	13.82
GSHD	1.65	0.54	0.35	0.91	0.95	(2.12)	5.06	(2.34)	14.35

Be your own money manager

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