Palamina Corp Correlations
| PA Stock | CAD 0.12 0.01 7.69% |
The current 90-days correlation between Palamina Corp and Fremont Gold is 0.19 (i.e., Average diversification). The correlation of Palamina Corp 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. If the correlation is 0, the equities are not correlated; they are entirely random.
Palamina Corp Correlation With Market
Average diversification
The correlation between Palamina Corp and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Palamina Corp and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Palamina Corp could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Palamina Corp 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 Palamina Corp - 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 Palamina Corp to buy it.
Moving together with Palamina Stock
Moving against Palamina Stock
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Palamina Corp Corporate Management
Elected by the shareholders, the Palamina Corp's board of directors comprises two types of representatives: Palamina Corp inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Palamina. The board's role is to monitor Palamina Corp's management team and ensure that shareholders' interests are well served. Palamina Corp'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, Palamina Corp's outside directors are responsible for providing unbiased perspectives on the board's policies.