Sitka Gold Correlations

SITKF Stock

USD 0.26 0.02 7.14%

The current 90-days correlation between Sitka Gold Corp and Gold Springs Resource is 0.14 (i.e., Average diversification). The correlation of Sitka 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.

Sitka Gold Correlation With Market

Significant diversification

The correlation between Sitka Gold Corp and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sitka Gold Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Sitka OTC Stock

0.62	ZIJMY	Zijin Mining Group	Pair Corr
0.68	ZIJMF	Zijin Mining Group	Pair Corr
0.8	GFI	Gold Fields Sell-off Trend	Pair Corr
0.64	APLD	Applied Blockchain	Pair Corr
0.65	NVDA	NVIDIA	Pair Corr
0.62	PYPL	PayPal Holdings Aggressive Push	Pair Corr

Moving against Sitka OTC Stock

0.76	NCMGF	Newcrest Mining	Pair Corr
0.76	NCMGY	Newcrest Mining	Pair Corr
0.53	BKRKF	PT Bank Rakyat	Pair Corr
0.52	EATBF	Eat Beyond Global	Pair Corr
0.4	BKRKY	Bank Rakyat	Pair Corr
0.37	PPERF	Bank Mandiri Persero	Pair Corr
0.37	SHG	Shinhan Financial	Pair Corr
0.57	AMIX	Autonomix Medical, Common Downward Rally	Pair Corr

Related Correlations Analysis

	OSIIF	AIRRF	MAIFF	RIOFF	RCGCF	PLMNF	GRCAF	BTUMF	NRRSF	FFOXF
OSIIF		-0.23	0.05	0.11	-0.48	-0.29	-0.27	-0.45	0.45	-0.09	OSIIF
AIRRF	-0.23		0.84	0.72	0.48	0.6	0.04	-0.6	0.59	0.34	AIRRF
MAIFF	0.05	0.84		0.88	0.46	0.5	-0.14	-0.77	0.77	0.16	MAIFF
RIOFF	0.11	0.72	0.88		0.49	0.47	-0.19	-0.73	0.71	0.11	RIOFF
RCGCF	-0.48	0.48	0.46	0.49		0.2	-0.05	-0.01	0.01	-0.03	RCGCF
PLMNF	-0.29	0.6	0.5	0.47	0.2		0.1	-0.24	0.22	0.36	PLMNF
GRCAF	-0.27	0.04	-0.14	-0.19	-0.05	0.1		0.16	-0.07	0.11	GRCAF
BTUMF	-0.45	-0.6	-0.77	-0.73	-0.01	-0.24	0.16		-0.96	-0.1	BTUMF
NRRSF	0.45	0.59	0.77	0.71	0.01	0.22	-0.07	-0.96		0.08	NRRSF
FFOXF	-0.09	0.34	0.16	0.11	-0.03	0.36	0.11	-0.1	0.08		FFOXF
	OSIIF	AIRRF	MAIFF	RIOFF	RCGCF	PLMNF	GRCAF	BTUMF	NRRSF	FFOXF

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

RIOFF	+ 0.88	MAIFF
MAIFF	+ 0.84	AIRRF
NRRSF	+ 0.77	MAIFF
RIOFF	+ 0.72	AIRRF
NRRSF	+ 0.71	RIOFF
PLMNF	+ 0.6	AIRRF

High negative correlations

NRRSF	- 0.96	BTUMF
BTUMF	- 0.77	MAIFF
BTUMF	- 0.73	RIOFF
BTUMF	- 0.6	AIRRF
RCGCF	- 0.48	OSIIF
BTUMF	- 0.45	OSIIF

Risk-Adjusted Indicators

There is a big difference between Sitka OTC Stock performing well and Sitka 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 Sitka 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
OSIIF	0.70	0.09	(0.01)	0.71	0.83	(1.33)	1.60	(1.57)	6.84
AIRRF	2.30	0.08	(0.03)	(0.01)	2.93	(3.47)	5.13	(6.12)	15.14
MAIFF	3.54	0.41	0.03	(0.21)	3.77	(6.12)	8.70	(5.56)	32.05
RIOFF	2.32	0.26	0.04	(2.17)	2.23	(4.29)	5.77	(4.26)	16.67
RCGCF	5.69	0.02	0.02	0.13	6.17	(6.75)	14.29	(10.29)	39.11
PLMNF	5.32	0.06	0.00	0.22	7.49	(13.66)	18.18	(15.79)	62.57
GRCAF	1.84	0.14	0.00	(0.11)	4.10	(15.23)	3.87	(4.41)	51.43
BTUMF	1.63	(0.81)	0.00	(1.42)	0.00	0.00	0.00	0.00	26.10
NRRSF	6.43	1.90	0.19	(0.78)	4.72	(12.79)	18.16	(10.00)	59.70
FFOXF	5.02	(0.34)	0.00	(0.22)	0.00	0.00	11.07	(11.43)	35.38

Be your own money manager

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

Did you try this?

Run Alpha Finder Now

Alpha Finder

Use alpha and beta coefficients to find investment opportunities after accounting for the risk

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC