Canagold Inventory from 2010 to 2024
| CCM Stock | CAD 0.30 0.00 0.00% |
Inventory | First Reported 2012-09-30 | Previous Quarter (924.00) | Current Value -898 K | Quarterly Volatility 196.2 K |
Check Canagold Resources financial statements over time to gain insight into future company performance. You can evaluate financial statements to find patterns among Canagold Resources' main balance sheet or income statement drivers, such as Depreciation And Amortization of 2 M, Interest Expense of 34.5 K or Selling General Administrative of 1.2 M, as well as many indicators such as Price To Sales Ratio of 584, Dividend Yield of 0.0 or PTB Ratio of 1.18. Canagold financial statements analysis is a perfect complement when working with Canagold Resources Valuation or Volatility modules.
Canagold | Inventory |
Pair Trading with Canagold Resources
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 Canagold Resources 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 Canagold Resources will appreciate offsetting losses from the drop in the long position's value.Moving against Canagold Stock
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| 0.6 | NVDA | NVIDIA CDR | PairCorr |
| 0.47 | FDY | Faraday Copper Corp | PairCorr |
| 0.43 | GOOG | Alphabet CDR | PairCorr |
| 0.39 | AG | First Majestic Silver | PairCorr |
The ability to find closely correlated positions to Canagold Resources could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canagold Resources 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 Canagold Resources - 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 Canagold Resources to buy it.
The correlation of Canagold Resources 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 Canagold Resources moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canagold Resources 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 Canagold Resources 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.Other Information on Investing in Canagold Stock
Canagold Resources financial ratios help investors to determine whether Canagold Stock is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Canagold with respect to the benefits of owning Canagold Resources security.