Gold Strategy Correlations

XY7 Stock

1.20 0.24 25.00%

The current 90-days correlation between Gold Strategy and Hutchison Telecommunications Hong is 0.02 (i.e., Significant diversification). The correlation of Gold Strategy 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.

Gold Strategy Correlation With Market

Very good diversification

The correlation between Gold Strategy and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gold Strategy and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Gold Strategy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Gold Strategy 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 Gold Strategy - 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 Gold Strategy to buy it.

Moving against Gold Stock

0.57	6EQ	EQT AB	Pair Corr
0.45	ZYA	State Street	Pair Corr
0.44	CSA	Accenture plc	Pair Corr
0.43	BBN1	Blackstone Group	Pair Corr
0.42	BN9	The Bank	Pair Corr
0.39	A4S	Ameriprise Financial	Pair Corr
0.37	NT4	Northern Trust	Pair Corr
0.36	0QN	Ares Management Corp Earnings Call Tomorrow	Pair Corr
0.49	XSI	Sanyo Chemical Industries	Pair Corr
0.47	E908	Lyxor 1	Pair Corr
0.44	DBPE	Xtrackers LevDAX	Pair Corr
0.41	GSR	Gossan Resources	Pair Corr
0.41	H3M	Hochschild Mining plc	Pair Corr
0.39	4OQ1	AGNC Investment Corp	Pair Corr
0.38	WAC	Wacker Neuson SE	Pair Corr
0.37	MUM	Mensch und Maschine	Pair Corr
0.33	NEF	NESTE OIL Earnings Call Tomorrow	Pair Corr
0.31	2MF	MOBILE FACTORY INC	Pair Corr

Related Correlations Analysis

	TGE1	HLG	8SX0	ISHA	1ZG	EV9	4C6
TGE1		-0.59	0.92	0.84	0.9	0.56	0.08	TGE1
HLG	-0.59		-0.45	-0.52	-0.46	-0.31	0.26	HLG
8SX0	0.92	-0.45		0.82	0.95	0.69	0.21	8SX0
ISHA	0.84	-0.52	0.82		0.8	0.33	-0.14	ISHA
1ZG	0.9	-0.46	0.95	0.8		0.61	0.24	1ZG
EV9	0.56	-0.31	0.69	0.33	0.61		0.23	EV9
4C6	0.08	0.26	0.21	-0.14	0.24	0.23		4C6
	TGE1	HLG	8SX0	ISHA	1ZG	EV9	4C6

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

1ZG	+ 0.95	8SX0
8SX0	+ 0.92	TGE1
1ZG	+ 0.9	TGE1
ISHA	+ 0.84	TGE1
ISHA	+ 0.82	8SX0
1ZG	+ 0.8	ISHA

High negative correlations

HLG	- 0.59	TGE1
ISHA	- 0.52	HLG
1ZG	- 0.46	HLG
8SX0	- 0.45	HLG
EV9	- 0.31	HLG
4C6	- 0.14	ISHA

Risk-Adjusted Indicators

There is a big difference between Gold Stock performing well and Gold Strategy 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 Gold Strategy'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
TGE1	1.06	0.27	0.15	1.58	1.11	(1.12)	3.04	(2.01)	7.09
HLG	2.41	(0.20)	0.00	0.60	0.00	0.00	4.80	(5.26)	21.92
8SX0	3.34	0.92	0.23	(2.53)	2.89	(4.43)	9.16	(5.79)	18.30
ISHA	2.44	0.27	0.06	(0.66)	2.55	(3.36)	6.35	(5.22)	17.08
1ZG	2.29	0.65	0.24	2.35	1.90	(2.97)	4.91	(3.56)	11.82
EV9	2.71	0.68	0.26	0.76	2.05	(3.82)	8.06	(4.23)	30.72
4C6	1.94	0.06	0.00	0.44	2.93	(9.24)	9.09	(8.33)	19.09

Be your own money manager

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