Allied Net Income Per Share from 2010 to 2026
| AAUC Stock | 42.80 0.08 0.19% |
Check Allied Gold financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Allied Gold's main balance sheet or income statement drivers, such as , as well as many indicators such as . Allied financial statements analysis is a perfect complement when working with Allied Gold Valuation or Volatility modules.
Allied |
Pair Trading with Allied Gold
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Allied Gold position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Allied Gold will appreciate offsetting losses from the drop in the long position's value.Moving together with Allied Stock
| 0.8 | AEM | Agnico Eagle Mines | PairCorr |
| 0.95 | WPM | Wheaton Precious Metals | PairCorr |
| 0.89 | FNV | Franco Nevada | PairCorr |
| 0.83 | K | Kinross Gold Corp | PairCorr |
Moving against Allied Stock
The ability to find closely correlated positions to Allied 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 Allied 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 Allied 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 Allied Gold to buy it.
The correlation of Allied 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Allied Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Allied Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Allied Gold can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out the analysis of Allied Gold Correlation against competitors. To learn how to invest in Allied Stock, please use our How to Invest in Allied Gold guide.You can also try the Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.