Xtra Gold Correlations

XTG Stock

CAD 1.81 0.02 1.12%

The current 90-days correlation between Xtra Gold Resources and Algoma Steel Group is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Xtra Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Xtra Gold Resources Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Xtra Gold Correlation With Market

Average diversification

The correlation between Xtra Gold Resources Corp and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xtra Gold Resources Corp and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Xtra Stock

0.66	IE	Ivanhoe Energy	Pair Corr
0.71	FDY	Faraday Copper Corp	Pair Corr
0.74	NVDA	NVIDIA CDR	Pair Corr
0.64	AAPL	Apple Inc CDR	Pair Corr
0.65	AMZN	Amazon CDR	Pair Corr
0.64	META	Meta Platforms CDR	Pair Corr
0.65	TSLA	Tesla Inc CDR	Pair Corr
0.66	JPM	JPMorgan Chase	Pair Corr

Moving against Xtra Stock

0.59

INFM

Infinico Metals Corp

Pair Corr

Related Correlations Analysis

	ASTL	CIA	IZ	ERE-UN	FTN-PA	ROMJ	VO	LNR	AMZN	FHE
ASTL		-0.39	-0.66	0.6	0.71	-0.5	0.03	-0.46	0.69	0.26	ASTL
CIA	-0.39		0.6	-0.05	-0.35	0.04	0.2	0.56	-0.25	0.2	CIA
IZ	-0.66	0.6		-0.42	-0.55	0.3	0.09	0.3	-0.42	0.02	IZ
ERE-UN	0.6	-0.05	-0.42		0.84	-0.8	0.3	-0.05	0.87	0.63	ERE-UN
FTN-PA	0.71	-0.35	-0.55	0.84		-0.8	0.38	-0.3	0.81	0.6	FTN-PA
ROMJ	-0.5	0.04	0.3	-0.8	-0.8		-0.56	0.16	-0.72	-0.78	ROMJ
VO	0.03	0.2	0.09	0.3	0.38	-0.56		-0.14	0.34	0.81	VO
LNR	-0.46	0.56	0.3	-0.05	-0.3	0.16	-0.14		-0.37	-0.22	LNR
AMZN	0.69	-0.25	-0.42	0.87	0.81	-0.72	0.34	-0.37		0.62	AMZN
FHE	0.26	0.2	0.02	0.63	0.6	-0.78	0.81	-0.22	0.62		FHE
	ASTL	CIA	IZ	ERE-UN	FTN-PA	ROMJ	VO	LNR	AMZN	FHE

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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

AMZN	+ 0.87	ERE-UN
FTN-PA	+ 0.84	ERE-UN
AMZN	+ 0.81	FTN-PA
FHE	+ 0.81	VO
FTN-PA	+ 0.71	ASTL
AMZN	+ 0.69	ASTL

High negative correlations

ROMJ	- 0.8	FTN-PA
ROMJ	- 0.8	ERE-UN
FHE	- 0.78	ROMJ
AMZN	- 0.72	ROMJ
IZ	- 0.66	ASTL
VO	- 0.56	ROMJ

Risk-Adjusted Indicators

There is a big difference between Xtra Stock performing well and Xtra 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 Xtra 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
ASTL	1.70	(0.05)	0.01	0.09	1.84	(1.85)	4.54	(3.26)	12.55
CIA	2.35	(0.21)	0.00	(0.06)	0.00	0.00	4.57	(4.08)	15.66
IZ	6.18	0.66	0.00	(0.02)	7.95	(20.48)	25.00	(20.00)	58.33
ERE-UN	1.42	0.31	0.29	0.30	0.76	(1.88)	3.40	(1.58)	20.23
FTN-PA	0.18	0.08	(0.36)	(1.33)	0.00	(0.27)	0.48	(0.20)	1.71
ROMJ	2.97	(0.38)	0.00	(0.53)	0.00	0.00	7.50	(6.52)	27.78
VO	7.34	0.54	0.07	0.28	6.82	(18.30)	20.00	(16.67)	56.67
LNR	1.21	(0.09)	0.00	(0.07)	0.00	0.00	1.83	(2.63)	10.57
AMZN	1.41	0.22	0.10	0.48	1.46	(1.59)	3.21	(2.97)	10.08
FHE	0.13	0.05	0.00	(0.53)	0.00	0.00	0.35	0.00	2.77

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