Labrador Gold Correlations

NKOSF Stock

USD 0.09 0.00 0.00%

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

Labrador Gold Correlation With Market

Weak diversification

The correlation between Labrador Gold Corp and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Labrador Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Labrador OTC Stock

0.7	NEM	Newmont Goldcorp Corp	Pair Corr
0.69	WPM	Wheaton Precious Metals	Pair Corr
0.67	AU	AngloGold Ashanti plc	Pair Corr
0.61	GFI	Gold Fields	Pair Corr
0.75	KGC	Kinross Gold	Pair Corr
0.75	PPERF	Bank Mandiri Persero	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.79	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.71	BAC	Bank of America	Pair Corr
0.67	JPM	JPMorgan Chase	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr

Moving against Labrador OTC Stock

0.65	PG	Procter Gamble	Pair Corr
0.35	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ORFDF	SRMMF	URGYF	VGMIF	IRVRF	GRXMF	MLMLF	TSLVF	PREIF	GSTMF
ORFDF		0.01	-0.03	0.69	-0.27	0.35	0.0	0.5	0.47	-0.47	ORFDF
SRMMF	0.01		0.43	0.12	0.52	-0.42	0.54	0.19	0.12	0.48	SRMMF
URGYF	-0.03	0.43		-0.04	0.63	-0.5	0.7	0.32	-0.03	0.5	URGYF
VGMIF	0.69	0.12	-0.04		-0.26	0.49	-0.05	0.32	0.73	-0.5	VGMIF
IRVRF	-0.27	0.52	0.63	-0.26		-0.52	0.74	0.19	-0.28	0.79	IRVRF
GRXMF	0.35	-0.42	-0.5	0.49	-0.52		-0.67	-0.28	0.47	-0.75	GRXMF
MLMLF	0.0	0.54	0.7	-0.05	0.74	-0.67		0.42	-0.19	0.7	MLMLF
TSLVF	0.5	0.19	0.32	0.32	0.19	-0.28	0.42		0.33	0.08	TSLVF
PREIF	0.47	0.12	-0.03	0.73	-0.28	0.47	-0.19	0.33		-0.51	PREIF
GSTMF	-0.47	0.48	0.5	-0.5	0.79	-0.75	0.7	0.08	-0.51		GSTMF
	ORFDF	SRMMF	URGYF	VGMIF	IRVRF	GRXMF	MLMLF	TSLVF	PREIF	GSTMF

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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

GSTMF	+ 0.79	IRVRF
MLMLF	+ 0.74	IRVRF
PREIF	+ 0.73	VGMIF
MLMLF	+ 0.7	URGYF
GSTMF	+ 0.7	MLMLF
VGMIF	+ 0.69	ORFDF

High negative correlations

GSTMF	- 0.75	GRXMF
MLMLF	- 0.67	GRXMF
GRXMF	- 0.52	IRVRF
GSTMF	- 0.51	PREIF
GSTMF	- 0.5	VGMIF
GRXMF	- 0.5	URGYF

Risk-Adjusted Indicators

There is a big difference between Labrador OTC Stock performing well and Labrador 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 Labrador 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
ORFDF	3.67	0.52	0.06	(8.28)	4.73	(4.55)	11.73	(8.43)	27.39
SRMMF	6.65	1.52	0.00	(0.32)	0.00	0.00	21.95	(14.29)	108.00
URGYF	26.06	9.32	0.17	0.77	16.42	(115.58)	17.65	(19.61)	538.33
VGMIF	1.35	0.69	0.00	(3.95)	0.00	0.00	0.00	0.00	33.33
IRVRF	4.79	0.05	0.00	(0.09)	5.01	(8.36)	12.50	(10.53)	31.76
GRXMF	18.43	9.11	0.00	1.39	0.00	0.00	0.00	0.00	614.29
MLMLF	8.01	0.72	0.06	0.88	8.66	(14.68)	31.29	(23.09)	62.32
TSLVF	4.78	0.48	0.07	(3.35)	5.15	(5.72)	17.51	(9.09)	34.28
PREIF	5.14	1.47	0.25	(6.60)	4.03	(6.83)	17.92	(9.09)	33.77
GSTMF	5.92	(0.38)	0.00	(0.16)	0.00	0.00	15.79	(14.29)	48.08

Be your own money manager

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